The Morpheus Network can remove the complexity from this process. Any time a document needs to be shared with multiple institutions, putting that record on the blockchain enables real-time updates that can be seen, but not tampered with or inadvertently altered. This can create significant savings in time and cost while at the same time, ensuring a strong level of trust.
The Morpheus Network was established by industry veterans to address global supply chain inefficiencies, resulting in a full-service, global, automated, supply chain platform for the global trade industry, utilizing blockchain technology. We recognize blockchain as a technology to be leveraged across supply chains to see breakthroughs in automation, optimization, security, visibility and forecasting.
Automation is achieved utilizing Smart Contracts, driving the supply chain with predetermined, automated work contracts, shipping & customs documents as well as automated international payments. The layering of other Blockchain technologies, as a part of , or an objective in the Smart Contract, is another key feature further enabling supply chain automation. This involves the integration with other blockchains such as using the Walton Blockchain to signify the arrival of a shipment with an RFID scan, or using Sia to verify the transfer of data as a single objective in a supply chain Smart Contract.
At scale, the Morpheus Network has the potential to save the industry billions of dollars. According to the World Economic Forum’s report Enabling Trade: Valuing Growth Opportunities, reducing barriers within the international supply chain could increase worldwide GDP by almost 5 percent and total trade volume by 15 percent. This equates to a global economic boost of up to 3 trillion USD!
INSTANT MONEY TRANSFERS TO OVER 200 COUNTRIES
The Morpheus Network enables suppliers, manufacturers and exporters from around the world to receive their local currency in over 200 countries globally. Conversely, purchasing importers can send their own country’s currency to finance purchases in other countries. This is accomplished through integration with SWIFT which allows a direct transfer of funds into over 1600 banks. Therefore, the network allows any company or individual to complete any complex international purchase and shipment, no matter the scale of the transaction, smoothly, easily and instantly.
The Morpheus Network is the first platform designed to execute large money transfers to over 1600 banks internationally, using the newest and fastest blockchain technology, as an objective in a Smart Contract for globally transacting businesses. It is designed to be used by importers and exporters replacing traditional bank wire transfers which are expensive, slow, unsecured and simply outdated.
To give an example, China is currently the most expensive major currency corridor, according to the World Bank, with the average cost of sending $1000.00 (£700.00) from the UK to China standing at a staggering US $98.00 (£68.60) or 9.8%. Compare this with the small Morpheus Network fee of 1%.
MORPHEUS NETWORK PLATFORM
The Morpheus Network features a simplified and streamlined dashboard interface. Interacting with the network by revising or adding Smart Contract objectives in your supply chain is designed to be intuitive and easy to navigate.
You can easily view the flow of the funds and documentation within any transaction as well as utilize any of the Morpheus Network features such as escrow payment services and document digitization.
It also features the permission settings which establish which documents or Smart Contract objectives are kept private, and which ones are visible and shareable with your shipping agents, customs brokers and freight forwarders.
MORPHEUS NETWORK SMART CONTRACT INTERFACE
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