Floki’s Response to ASA Recommendation

On March 2, 2022, the Advertising Standards Authority (“ASA”) issued a ruling regarding an advertisement published by Floki on the London Underground. The advertisement contained the Floki logo, an image of a cartoon dog wearing a Viking helmet. The text on the advertisement stated “Missed Doge? Get Floki.” In addition, the text at the bottom of the ad stated that “Your investment may go down as well as up in value. Cryptocurrency is not regulated in the UK.”

The ASA received a complaint regarding these advertisements and began an investigation into whether the advertisements violated the Committee of Advertising Practice (“CAP”) code. Prior to running the advertisements, Floki received approval from CAP that the advertisements were in compliance with their code.

In the ruling, the ASA concluded that Floki violated the CAP code. First, it concluded that the advertisements took advantage of consumers’ inexperience or credulity by not making clear that tax could be payable on profits from investing. Second, it concluded that the advertisement irresponsibly exploited consumers’ fear of missing out and trivialized investment in cryptocurrency by using the phrase “Missed Doge? Get Floki.” Floki emphatically disagrees with these conclusions.

It is important to note that ads from major cryptocurrency brands like Coinbase, Kraken, Luno, and eToro have been similarly banned as crypto companies try to create mainstream awareness about cryptocurrency while adhering to regulatory guidelines.

The action from the ASA is that Floki may not run the particular advertisements that were banned again in the form that they were run during the London Underground advertisement campaign. No other action was implemented against Floki.

As stated above, Floki denies any of the allegations in the ASA complaint and disagrees with the conclusions reached by the ASA investigator. Floki did its very best to be compliant before running these ads and took CAP’s advice and guidance regarding what risk warnings and disclaimers needed to be included in the marketing campaign. At no point was it brought to Floki’s attention by CAP that there was a requirement for consumers to be advised on the implications of Capital Gains Tax on investments in cryptocurrency. Had this been brought to Floki’s attention, Floki would have followed such advice and included the information in their marketing campaign.

Further, Floki has retained attorney advice. Floki cannot find where in the CAP Code or ASA guidance it specifically sets out that information relating to Capital Gains Tax must be contained in any advert relating to cryptocurrencies or financial products generally. Floki denies that it violated any regulations, and it will take any action it must to ensure its legal rights are recognized.

With regard to whether Floki was irresponsible with its advertisement, Code rule 14.1 states that financial products must be set out in a way that allows them to be understood easily by the audience being addressed. Floki asserts that its logo and wording of the advertisement allow the subject matter to be understood clearly by an informed consumer as well as the risks of an investment in Floki being clearly signposted in the risk warning at the bottom of the Advert.

Floki also asserts that the phrase “Missed Doge? Get Floki,” is a legitimate advertising technique designed to capture the attention of an informed consumer. The marketing campaign itself did not mislead consumers in the investment of cryptocurrencies and the advertisement contained material information that consumers require to make informed decisions before engaging with Floki or investing generally in cryptocurrencies in compliance with CAP Code rules 3.1 and 3.3.

In short, Floki will continue to advocate for its right to advertise its product. There are no regulations that should prevent Floki from advertising in the way it did. At this time, Floki is not prevented from running advertisements in the United Kingdom, except that it is currently not allowed to run the exact marketing campaign as what was complained about in that form. Despite this recommendation from the ASA investigator, Floki will advocate for the rights of its project and its holders.

Website: https://www.floki.com/

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrencies.

The post Floki’s Response to ASA Recommendation appeared first on NullTX.

Source: null tx

WarPatronage Has Just Stealth Launched 2 of Its Tokens!

Get ready, Commanders!

WarPatronage is a fictional military-style crypto-game where you can vote to your favorite region who could win it all and become the superior nation above all of the others.

The Idea:

The project is launching a token for every bigger nation that could be the deciding factor on a possible outcome of an imaginary war. If a country (token) gets bigger, meaning it will have a bigger holder base and bigger liquidity then it wins and becomes the ruler of the others.

There are two starting countries (tokens), and they are USA and Russia. With them fighting each other, you could guess who would win by buying and holding that token. If the deadline is over, the token with the more holder base and liquidity (calculated accordingly) will WIN THE FIGHT and it will get half of the other token’s liquidity.

The Goal:

1% of the transaction fees are being stored in a different wallet with the title of: CHARITY

That means that the project will SUPPORT REAL LIFE VETERANS AND MILITARY MEDICAL FACILITIES of the winning tokens. WarPatronage guarantees good acts while providing an exciting game of guesses to the investors.

You can be a part of various countries at once if you sympathize with them and would like to support the veterans there too. That 1% of charity means a lot to who is in need.

Tokenomics:

  • Total Supply: 100,000,000
  • Chain: BEP-20
  • Decimals: 18
  • 1% Charity
  • 5% Rewards
  • Liquidity locked for 3 years

USA Token address: 0xd1fc3597e6F491b3E301F1231a7cc577f10F4cDA

Russia Token address: 0x2227644F1fAB989357ea6706e864d907082a4Ea5

Website: https://warpatronage.io/

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrencies.

The post WarPatronage Has Just Stealth Launched 2 of Its Tokens! appeared first on NullTX.

Source: null tx

Floki Launches Valhalla Alpha Battle Arena Testnet

The Floki team is excited to announce the launch of the playable Valhalla Alpha Battle Arena Testnet this Monday the 28th of February.

You can find in-depth details about this major development, along with information about how to prepare to play, in the Medium article here.

Timing Is Everything

This launch of the first playable version of Floki’s flagship Valhalla play-to-earn (P2E) Metaverse game coincides with a major international television campaign, a partnership with Formula 1 racing legends Alfa Romeo, and numerous other collaborations and initiatives that signal Floki’s push to make Floki a household name in 2022 and beyond.

Floki believes the combination of meme power, community, charity, crypto and gaming has world-changing potential, and Valhalla is at the heart of all of this. P2E gaming has already proven to be resilient to bear markets, with the potential of staggering returns for early investors and income for day-to-day players.

Floki Valhalla, P2E & the Future of Gaming

Early P2E crypto Metaverse games Axie and Decentraland have already proven the model Floki intends to take further:

“… Axie’s AXS cryptocurrency gained an eye-watering 18,000% over the course of 2021, while Decentraland’s mana token rose by 4,000%, ranking the two of them among the best performers overall last year from the crypto space, all thanks to the popularity of play-to-earn games and the metaverse.”

Floki will take P2E gaming to a new level, both in terms of game quality and community engagement. The famous Floki Vikings community will participate in testing and feedback on Valhalla throughout the process, and this Alpha Testnet Battle Arena launch is the first of a number of stages in the development of the game that will involve Floki’s famously enthusiastic and engaged community.

A Prototype for the Community

This Valhalla Alpha Battle Arena Testnet launch is a prototype meant for the Floki Vikings community to test and contribute feedback. Patches and updates will occur frequently.

This is another example of how Floki is different from other projects. The community itself will directly contribute to the development of Valhalla, at the very earliest stages.

How Do I Play?

VALHALLA BATTLE ARENA ALPHA TEST APPLICATION

Registration: https://forms.gle/QVJht4TZSiyZpf3H6

Claim Test Tokens: https://faucet.paradigm.xyz 

TENTATIVE LAUNCH TIME: 9 PM UTC | FEBRUARY 28, 2022

Note that testing will happen on Optimism Kovan Testnet.

Priority on admission in early batches depends on:

  1. Genesis NFT Holder (Ruby/Diamond)
  2. Genesis NFT Holder (Silver/Bronze)
  3. Flokitar Holder
  4. Floki Gemstone Holder (coming in March)
  5. Special Criteria (e.g. professional tester)

Further information will be shared via the official Floki Twitter and Floki Telegram channel. You can follow all the Floki Viking community’s epic adventures in memes, crypto, charity, and P2E gaming there and at floki.com.

You can learn more about the Valhalla Battle Arena prototype and play here: https://valhalla.game.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

The post Floki Launches Valhalla Alpha Battle Arena Testnet appeared first on NullTX.

Source: null tx

Bashoswap Building a Cardano-powered Decentralized Exchange and Launchpad

Bashoswap, a decentralized exchange (DEX) on the Cardano network that aims to facilitate swaps between ADA and other crypto-assets built on Cardano.

Founded in late 2021 by a group of blockchain experts led by Beri Ardas with years of experience in the crypto industry.

Bashoswap is on a mission to develop a fully-featured de-fi product that will be of huge benefit to the Cardano ecosystem.

Bashoswap will join together elements already existing on other blockchains like Uniswap and Pancakeswap, readapting it for the Cardano Blockchain to develop de-fi Apps powered by the cryptocurrency Bash.

$BASH, Bashoswaps utility token, will be utilized by the community in multiple ways as they can Stake, Farm their BASH tokens to earn more rewards and can also be used for governance.

When launched, you can swap your Cardano tokens, add liquidity to earn LP fees, and also a launchpad that will support Cardano startups.

Bash Private sale whitelist is currently ongoing for early adopters who would want to become part of the project.

Early adopters wishing to partner with Bashoswap can email partnership@bashoswap.finance.

Bashoswap is on a mission to develop disruptive DApps like permissionless on-chain staking, lending & governance protocols tailored specifically for the Cardano ecosystem which would in turn revolutionize the decentralized finance industry and cryptocurrency as a whole.

Cardano startup Bashoswap is utilizing the vast experience of its founding team and the power of blockchain technology to fund, develop a truly novel and disruptive product.

Bashoswap Team

Behind the Bashoswap project are a team of experienced developers and project managers.

The core founding team comprises of developers and crypto enthusiasts with a deep understanding of native assets, smart contracts on Cardano, and the overall blockchain ecosystem.

Website: https://bashoswap.finance/

Whitepaper: https://docs.bashoswap.finance/whitepaper

Twitter: https://twitter.com/basho_swap

Telegram Group: https://t.me/bashoswap

Reddit: https://reddit.com/r/bashoswap/

Github: https://github.com/bashoswap-inc

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

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Source: null tx

Floki Announces Partnership with Legendary Formula 1 Team Alfa Romeo

The Floki team’s legendary 2021 marketing campaign changed crypto forever, and the work continues as we race forward in 2022. We’ve already announced two months of television ads in Turkey and the United States, which accelerates our goal of global brand recognition.

The Floki Vikings won’t rest until “Floki” is a household name. The only question is: how quickly can we get there?

Floki Races Ahead, Partnered with Legends

Floki is extremely proud to announce our latest strategic partnership with legendary Formula 1 Racing team Sauber Motorsport, the driving force behind the Alfa Romeo Racing ORLEN team.

“Floki’s distinctive branding will feature on rear end wing plates of both Alfa Romeo F1 Team ORLEN cars for the full 2022 season. Floki will also be a sponsor of Alfa Romeo’s championship-winning esports team. The partnership continues Floki’s global promotion that has seen the brand being heavily advertised around the world in mainstream media, international transport networks, and with many of the world’s top football clubs including Napoli, Bayer Leverkusen, Spartak Moscow, and Fenerbache.”

  • Sauber Motorsport AG

Formula 1 is a sport in which only the toughest survive, so it makes sense that a project like Floki – famously defined by legendary comebacks and incomparable community resolve – should make this strategic move.

Alfa Romeo Car Reveal, Sunday February 27th

The timing of this year’s Alfa Romeo car reveal is as follows:

  • 9am CET: media release of CGI imagery and video of the C42. Release of Media Press pack. Sharing of images and videos on social media. All CGI imagery and videos, including the drivers’ interviews, are made available to all partners.
  • 9:30am CET: Virtual press conference featuring the drivers (Bottas, Zhou, Kubica, Team Principal and Technical Director). To be broadcast on YouTube.
  • Throughout the Day: 1-to-1 media interviews for drivers, Team Principal and Technical Director.

Floki + Alfa Romeo 2022 Partnership Summary

This exciting partnership means:

  • Floki’s distinctive branding will feature on rear end wing plates of both Alfa Romeo Formula 1 Team ORLEN cars for the full 2022 season, with a record 23 rounds from March until November anticipated to reach an incredible 1.5 billion people.
  • With Guanyu Zhou making his Formula 1 debut in 2022 as the first-ever Chinese driver in Formula 1 alongside Valtteri Bottas, it is going to be an amazing breakout season for the sport.
  • Floki will also sponsor Alfa Romeo’s championship-winning esports team.

Formula 1 by the Numbers

Here are a few of the many reasons behind Floki’s groundbreaking decision to partner with this legendary Formula 1 team:

  • The sport is broadcast to 170 territories with an average TV viewership of 87 million per race and a cumulative audience of 1.5 billion people.
  • The season of races spans 22 countries and five continents. Formula 1 is truly a global sport.
  • This is the first year Formula 1 is anticipated in Miami, which is a key and famously expanding crypto market. This means two races in the United States for the season, Miami on 06-08 May and Austin on 21-23 October.

The China Connection

Guanyu Zhou is a new, highly anticipated Alfa Romeo team driver from China. His talent will open the Chinese market and attract added attention to the team and Floki. Zhou’s profile will increase dramatically through the course of the season.

For reference, Yao Ming’s basketball career in Texas doubled and then tripled the NBA’s fan base, conquering the Chinese market like no other sport. This connection to Zhou via sponsorship is especially significant for Floki’s marketing aims, as we will reach a Chinese audience where restrictions mean we can’t promote the project with traditional methods.

Floki’s Drive to Survive

Netflix’s wildly popular Drive to Survive series has recently opened up Formula 1 to a new demographic. Drive to Survive is the number one show in 27 markets, with an audience of 70% in the 18/34 category.

“Netflix has dropped the March release date for Season 4 of Formula 1: Drive To Survive. The long-awaited fourth season, out on March 11, builds on the success of the first three seasons as cameras once again go behind the scenes to capture the dramatic 2021 championship with a typically unprecedented level of production.”

More Digital Reach Takes Floki Into High Gear

Floki’s sponsorship also includes the Alfa Romeo eSports team. Formula 1 eSports generates 23.5m YouTube views and is the fastest growing sport on digital platforms 2 years running – with a 36% channel following and a 101% increase in engagements year over year, as well as 47% more video views of Formula 1 content online.

Floki already trends regularly across social platforms through the power of our rabid community. This move into eSports will only add fuel to the Floki Vikings’ fire.

Floki and the Future of Crypto

This partnership is one of many hotly anticipated moves for Floki, as we develop our flagship play-to-earn game (Valhalla) and work to bring crypto to the masses. Learn more about what moves “the people’s crypto,” including our charitable initiatives, at floki.com.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

The post Floki Announces Partnership with Legendary Formula 1 Team Alfa Romeo appeared first on NullTX.

Source: null tx

GameFi Project Elfworld Got Venture Capital and Announced First Round of Whitelist Application

A Singapore company LIGHT META DIGITAL PTE. LTD announces the launch of its GameFi Dapp, called Elfworld will be officially coming on February 26th, 2022 and the first round of Whitelist application.

Company members are from Singapore, Europe, and America including former Garena members. With strong technical background and experience of developing AOV and Free Fire, plus professional operation capabilities, this is surely regarded as a star project.

In Elfworld, Elves are NFT characters cast to ERC-721 standards and every player can use Elfballs to collect Elves and to earn ELFT through Training, Duel, and Breeding and finally build a Metaverse Elf World. The project team said that there will be more features coming alive soon in April, Wild Adventure and Land Sales for instance. According to the Road Map, new features will include the parts to capture Elves for free, which is definitely something to look forward to.

It is noteworthy that the project is currently open for whitelist. Up to now, it is known from the official data that more than 5,000 people have applied for this whitelist. Anyone who has interests in this project can visit the following link to get whitelisted,

https://gleam.io/8Wh5v/elfworld-first-whitelist-round-international

If you are interested in Elfworld, there are official pages that you can follow and to keep updated with Elfworld’s News,

Official website: https://www.elfworld.games/

Telegram: https://t.me/Elfworld99

Twitter: https://twitter.com/elfworld99

Facebook: https://www.facebook.com/elfworldchannel

Discord: https://discord.gg/hmvNn5T4Jp

YouTube: https://www.youtube.com/channel/UCjyDBSy_OkTC_q50tjpazPA

Medium: https://medium.com/@elfworld

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

The post GameFi Project Elfworld Got Venture Capital and Announced First Round of Whitelist Application appeared first on NullTX.

Source: null tx

Floki Launches Television Campaign in Turkey and the United States

Floki is making its most aggressive marketing move yet, aimed at the United States and Turkey through strategic television commercials. Floki, the people’s crypto, has locked down prominent features on seven major American television channels:

  • CNN
  • CNBC
  • Discovery
  • ESPN
  • Fox News
  • Fox Business
  • MSNBC

In addition to the spots in the US, the campaign will also appear in Turkey and initially feature a 15-second advertisement. This will then switch to a full 40-second ad after approximately a month, and run for approximately a month from there.

Both campaigns will start on the 21st of February and run for 2 months.

In 2021 Floki notably produced one of the greatest crypto marketing campaigns to date, featuring numerous cities and top-tier football teams around the globe. This move into television further cements the project’s place at the top of the heap in terms of crypto marketing.

Based on available data, the TV campaign is expected to have over 250 million impressions. The Floki Vikings have set our sights on becoming a household name in 2022, and these television ads will move us toward that goal.

Vikings don’t quit. To quote our project’s marketing director: “There is no mainstream story without a great comeback.”

Learn more about the greatest comeback story in crypto at floki.com.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

The post Floki Launches Television Campaign in Turkey and the United States appeared first on NullTX.

Source: null tx

Floki School in Nigeria Nearly Halfway Complete

Floki is a movement defined by the community. We are the people’s crypto, and we deliver on our promises. Last year we set out on a mission to build schools in underdeveloped nations, and this year we’re glad to share results.

A pillar of Floki is charity, and we believe in education both in crypto and in the world at large. To this end, Floki has partnered with the Tabitha Cumi Foundation to develop a school in Nigeria. We are pleased to announce the project is 40% complete.

According to the United Nations Children Fund (UNICEF), Nigeria has the highest rate of out-of-school children globally, with about 10.5 million children currently out of school, the highest percentage of which is in Northern Nigeria.

The Kuchiko-Ija School site clearing was completed at the end of December 2021. The building project commenced on January 5th, 2022. The project is 40% complete. 

Built this far is the foundation of the classroom building and fence, borehole, septic tanks, and soakaway. The school brick wall and fence construction are ongoing. The anticipated completion date is April 2022.”

Floki’s Kuchiko-Ija School is located in northern Nigeria, a region in desperate need of quality educational facilities such as this. This state-of-the-art school will have a significant impact on the lives of the children in that area and afford them real-world opportunities otherwise inaccessible.

This school features six blocks of classrooms, a technical block equipped with a computer laboratory, a borehole to ensure consistent, potable water, and a gatehouse. It is also fully furnished and completely fenced. 

“Floki is the people’s cryptocurrency, and our goal is to impact every corner of the world. Our aim with this partnership is to build a school that provides a conducive environment for Nigerian students in Kuchiko-Ija to study and compete with the highest standards in the world. We won’t settle for second best. Our mission is to transform the world.” – B, Floki Core Team Member.

Few projects in crypto accomplish anything like this, and we’re rightly proud of it. Floki truly works for the underdogs, both in crypto and in the world at large. We intend to bring the power of crypto to the people. And we back this up with real-world impact.

Valhalla or nothing. Learn more and join our movement at floki.com.

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.

The post Floki School in Nigeria Nearly Halfway Complete appeared first on NullTX.

Source: null tx

Largest Spanish Crypto Exchange, Bit2Me goes Global with Airdrop: 1 Million Participants in 72 Hours

Bit2me-5

Press Release: Spain’s largest crypto company, Bit2Me, is celebrating its new launchpad with a massive B2M Airdrop which is live on Coinmarketcap until March 2, 2022 

 

17th February 2022, Madrid — The Bit2Me Airdrop is well underway, and will see 8,000,000 B2M tokens given away to participants through Coinmarketcap. The airdrop is running from February 9th to March 2nd, 2022. With over 50,000 Holders already in its first 5 months in the market, the B2M airdrop is the most highly anticipated in Spain.

 

First Recognized Spanish Crypto Exchange

Yesterday, February 16th, Bit2me became the first exchange in the world recognized by The Bank of Spain, leading the way in the Spanish-speaking market as the primer crypto suite. The company is already a giant in Spanish-speaking nations, following a $23.7 million USD ICO, which sold out across 3 rounds in only 2 mins and 24 seconds. 

 

Guaranteed Winners vs Selected Winners 

  • All participants with 8,888 B2M in their Metamask before March 2, 2022, are guaranteed winners.
  • All participants with at least 1 B2M before March 2, 2022, are eligible for Diamond and Silver winners.
  • All participants with at least 1 B2M in their Metamask before and after March 2, 2022, are eligible for future airdrops.
  • Holders on any of these networks are eligible: Ethereum, Polygon (Matic), and BSC

 

Participate on Coinmarketcap 

All B2M holders can take part in the airdrop to win rewards in the form of B2M. By following the simple steps laid out on Coinmarketcap, (and in this video) anyone interested in the airdrop may join. Extra requirements can increase and even guarantee participants’ chances of winning.

 

8 Million B2M Rewards 

The airdrop rewards are allocated into 4 different tiers: Golden 8, Diamond, Silver, and Bronze. Every Coinmarketcap user that participates in the Airdrop and completes all the mandatory requirements will be eligible for the Bronze prize. However, the other categories are reserved for B2M token holders can be seen here in this Bit2Me Medium article 

 

No Claiming Necessary  

Winners and eligible participants will receive the prizes via the Polygon (Matic) network, no claiming will be necessary on their part. Winners will just need to add the custom Polygon Network RPC and add the custom B2M token to their wallet. Instruction videos for anything pertaining to the airdrop can be viewed from the above Medium article. 

 

The B2M token will be available on all winner addresses no later than March 2nd. Winners will be announced no later than 3 days after the Airdrop participation period ends through official social media channels such as Telegram

 

Big Response to B2M 

The B2M airdrop has seen a huge response from the community with 2.2 million participants registering within the first 7 days. Bit2Me stated that anyone interested in becoming eligible for future airdrops just needs at least 1 B2M to their wallet. B2M is available now on Ethereum, Polygon, (Matic) and BSC Networks through Uniswap, Quickswap, and PancakeSwap exchange. 

 

Backers and Partnerships

Bit2Me is backed by Huobi Ventures, ICON Foundation, TKX Capital, and Valhalla Capital, and has founders, executives and former executives from Coinbase, Polygon, Amazon, Chainlink, Nexo, Kraken, IBM, Mastercard, and more. Bit2me also has partnerships with Asian Crypto funds and companies such as DFG, GSR, NEXO, Mastercard, OVR, 100 Montaditos, GoStudent, CoinPayments, Polygon, and more. 

 

Bit2Me Links 

Airdrop | Telegram | Twitter | Facebook |Team | Airdrop Terms & Conditions

 

Media Contact Details

Contact Name: Victoria Salas

Contact Email: media@bit2me.com   

 

Bit2Me is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 

 

The B2M TOKEN is a utility token intended to be used to benefit from discounts, promotions, and services on the Bit2Me website. It is therefore not a financial instrument or negotiable security. Bit2Me does not accept customers related to sanctioned countries, certain high-risk countries, or countries where specific national authorization is required, such as residents of the USA or Japan. Values of B2M in dollars were calculated on 22/01/2022. Please revisit the current B2M price chart to see the current values.

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Amphorium Global Logistics Blockchain Overview

About Amphorium

Logistics is a conservative industry in which, over the past decades, the scheme of transportation of goods has remained practically unchanged, retaining a vast number of intermediaries. Drivers, freight forwarders, customs officers, and officials are just a small range of people who can interact with the product until the moment it falls into the hands of the end consumer.

According to our data, it takes from 10% to 45% of the total cost of shipping the goods to pay for the services of intermediaries. However, such a high price does not guarantee the quality of the services provided. On the contrary, the more people participate in the process, the higher the likelihood of problems: the cargo can be damaged, lost, or delivered much later. In addition, there is a risk that contractors speaking different languages may fill out the documents incorrectly, which will lead to the freezing of the cargo for an indefinite period.

As a result, the international transport of goods becomes an expensive, inefficient, and time-consuming process that requires changes.

Considering that companies from the logistics sector are in no hurry to implement innovative solutions to optimize their internal processes, the Amphorium ecosystem offers a different way. It helps the entire industry develop without changing the internal business model of individual companies, which became possible thanks to the use of blockchain technology.

What is Amphorium logistics?

Amphorium is a decentralized logistics mobile application primarily aimed at end users — ordinary people and entrepreneurs who send and receive goods. DApp empowers users to optimize all logistics processes and makes the supply chain simple, transparent, and completely secure.

Amphorium is an aggregator of postal and insurance companies on a single blockchain. With its help, each user can choose the best offer for themselves in terms of cost, conditions, and terms, make a calculation and apply for cargo transportation.

Areas in which Amphorium will be helpful:

  • Multimodal transportation;
  • International delivery of goods;
  • Delivery by air;
  • Cargo transportation;
  • Intraport forwarding;
  • Rail transportation;
  • Cargo insurance.

Due to the use of official APIs, the information presented in Amphorium will always be up-to-date. All actions for sending and managing a package are performed within one application, without going to third-party sites.

After the dispatch, the user can track the location of their parcel and the stage of its registration online. If necessary, the Amphorium blockchain makes it possible to control special transportation conditions: temperature, air humidity, and other parameters, especially when transporting specific categories of goods, such as food.

Resolving security issues

To ensure network security, Amphorium uses the Proof of Stake and Proof of Transfer consensus mechanisms and other decentralized tools. This allows you to create all the conditions for conducting honest and transparent business worldwide.

The relationship between the sender and the recipient of goods in the Amphorium ecosystem is based on the Smart Contract technology. Its difference from traditional contracts lies in the complete automation of mutual settlements between the parties. A smart contract is a program code part of the blockchain, which contains information about a deal in the format: “If … then”. If the “If” condition is met, the second party pays the funds. Otherwise, they are returned to the payer. Since the script is executed automatically, without the participation of third parties, the cost and execution time of such transactions is minimized, and the risks associated with the human factor are absent.

Smart Contract is a more technological and inexpensive alternative to cash on delivery when the recipient, to protect themselves from fraud shipments, is forced to pay not only for the transportation of goods but also for the return of funds.

By using Smart Contracts, the parties to the transaction can get rid of expensive intermediaries such as banks, payment services, lawyers, and brokers. This will lead to faster and more efficient interactions and help the business grow much faster. In addition, the need for additional workers in the supply chain disappears (those responsible for making advance payments, controlling settlements, informing about the occurrence of certain events, etc.), which leads to savings human resources. By reducing the overuse of paper transactions, companies can reduce shipping costs by up to 20%.

In addition, Amphorium digitizes the entire document flow on its network and provides users with documentation and receipts in the form of .pdf or .jpeg files. For the documents to have real legal force in different countries, their signing is carried out using an electronic digital signature, EDS.

Protection of personal information

Dozens of people from different countries can interact with the cargo in the supply chain, so the issue of personal data security in the field of logistics is especially acute. Amphorium solves this problem with decentralization tools.

The Amphorium blockchain is based on zk-SNARK and zk-STARK zero-knowledge cryptographic protocols. The principle of their work is based on the fact that the parties to the transaction can prove the veracity of any statement without disclosing any data. The primary purpose of such evidence is that both parties, without revealing any information to each other, can trustfully interact and conclude secure transactions, which fundamentally changes the idea of maintaining confidentiality.

Such protocols have a minimum size of just one bit where the meaning “true” or “false” is encrypted. Consequently, zk-SNARKs do not overload the blockchain network and are instantly processed.

For all its advantages, the zk-SNARK protocols are computationally based. This means that the likelihood of them being hacked is minimal. Also, hacking requires enormous computing power, which, in theory, only quantum computers are capable of.

Zk-STARK protocols offer a cheaper and faster implementation of the same technology, which is achieved by maintaining the same number of data exchange cycles between verifiers at any level of computation.

Economics and payments in the Amphorium ecosystem

All settlements within the Amphorium platform will be carried out using AMH tokens, which makes using smart contracts straightforward. At the moment, the system provides three types of payments:

  • for insurance;
  • for the transportation of cargo;
  • for goods — cash on delivery.

To ensure the operability of the project at the time of launch and in the future, the total supply was set at 1,000,000,000 coins, some of which will be sold to investors at three investment stages.

Application store on Amphorium blockchain

Scaling Amphorium will occur due to the introduction of new smart contracts and decentralized open-source applications into the system. This will allow each member of the network to refine and improve existing solutions and will enable the project to develop naturally. It is planned to open the Amphorium dApps Store — an application store on the Amphorium blockchain.

Unlike traditional applications, DApps do not have points of failure and lack hidden functionality and censorship. That is, they obey only the blockchain rules approved by the network participants. This makes their use completely safe and convenient.

Amphorium benefits

Amphorium uses decentralized technology to transform the logistics system worldwide to make it transparent and secure. The main advantages of the project:

  1. Reduces the cost of logistics;
  2. Eliminates data falsification;
  3. Prevents fraud;
  4. Eliminates unnecessary intermediaries from supply chains;
  5. Reduces the time spent on paperwork.

In the future, it is planned that Amphorium will operate at the state level and solve problems related to customs decoding and valuation.

Social Links:

Website
Twitter
Telegram
Medium
Reddit
Discord
CMC

DROP Links:

https://coinsbit.io/ieo-list/AMH_103
https://t.me/AladdinCenter_ANN/114

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

The post Amphorium Global Logistics Blockchain Overview appeared first on NullTX.

Source: null tx