US China Blockchain Conference in LA Taps Into NEM-based Blockchain Designed to Disrupt Amazon
Artisan Business Group hosted the US China Blockchain and Digital Currency Conference in Los Angeles on Wednesday, highlighting a slate of upcoming blockchain projects and panels. Ralph Liu spoke on behalf of MuleChain, a blockchain designed to disrupt Amazon by turning “every single traveler” by foot, bus, train or airplane into a delivery service.
“If you work for yourself on the MuleChain platform, all you need is a subway ticket, a bus ticket or your legs. You don’t need to own a car. And you don’t work for MuleChain .You’re your own mini-UPS or mini-FedEx. You can use a QR coder scanner to track your deliveries and brand yourself. This is a convenience-assistance service. To help others, you don’t need to burn more fossil fuel. You’re going to travel anyway. So it’s the sharing economy. It’s a movement instead of just a commercial venture.”
Using the MuleChain app, a user can submit a request. The network will find users who can fulfill the request, and then it will notify the user of potential candidates.
Lynda is a single mom who lives in Singapore. She has a son, Jerry, who is studying abroad in London, England. After a vacation to be with his mom in Singapore, Jerry goes back to school in London. However, he left his school clothes back at his mom’s place. This is how MuleChain Routes can help deliver his clothes from Singapore to London in a quick and affordable way.
Liu, who is the founder of Advanced e-Financial Technologies, Inc., the parent company of MuleChain, is a derivatives banker and former VP at UBS, and former head of structured derivatives of Chase Manhattan Bank.
He believes people who have been aged, automated or somehow pushed out of the workforce can establish a new source of income. The underemployed, unemployed, senior citizens and underserved can participate in the sharing economy which Price Waterhouse predicts will push global revenues in key sectors, such as travel, from $15 billion today to $335 billion by 2025.
While Amazon is establishing a stable of drop-off and pick-up centers around the country, adding another vertical to its bottom line, the team at MuleChain wants to take the concept of delivery and decentralize it, building a network that transfers the profits to people through a network that is peer-to-peer, on demand, and also business-to-business.
Built on the NEM blockchain, Liu says that tokenizing is a way to reduce huge commissions by the centralized companies. The blockchain service would earn an average of fee of 3% for each delivery by helping users with disputes, resolutions and KYC (Know Your Customer).
Liu believes that blockchain technology inherently dissuades criminals from participating because it uses an immutable, trackable and traceable digital ledger.
But cross-country and cross-border travelers on MuleChain would still be subject to TSA and US Border Patrol searches. Liu says MuleChain participants would need to use best practices to verify packages by doing their own inspections and taking photographs.
Users on the logistics blockchain would also be able to make door-to-door drop-offs or use Pack Centers, similar to Amazon’s pick-up and drop-off centers, to tackle the last mile of delivery. Pack Centers can be established by people who have spaces they’d like to utilize as warehouses — including restaurants or night clubs that go dormant during long stretches of the day, generating extra revenue in the blockchain’s native cryptocurrency (MCX).
The project plans to launch a test pilot this fall.