About the project

Amid high entry barrier and centralized intermediation costs in the logistics domain exploring decentralized trustless alternatives might dissolve these obstructions. In this paper we present a trustless decentralized incentive structure which offers an alternative to relying on reputation and centralized intermediation. Transportation of physical object means a custodian has to be trusted, the proposed mechanism locks a completion incentive and physical object value insurance which can only be released by completing the transport.

We developed a proof of concept called OpenLogistics, a marketplace for transport contracts that also facilitates the incentive mechanism of the contracts. OpenLogistics operates on the Bitcoin network and Ricardian Contracts to capture legally binding transport parameters.

The mechanism in combination with the proof of concept gives insight on what Blockchain technology can offer the logistics domain.

Technology used

Javascript, Cryptography, Bitcoin