EVOLOAD — Project overview, use case, and challenges.

8 min readMay 3, 2023

Revolutionizing Transportation with MultiversX tech.

Evoload: Where Logistics Meet Smart Contracts

If you don’t know what Evoload is, I will explain it in a simpler way, so you can add all this information to your due diligence research before deciding if Evoload is an investment opportunity for you or not.

Introduction

Evoload is a project built on MultiversX aiming to enhance a vital part of the global economy, the logistics and transportation industry. The industry faces many challenges like high costs, lack of transparency, and inefficiencies.

The purpose of Evoload is to integrate smart contracts and blockchain tech into these processes by providing real-time tracking data and benefits for all parties involved.

At the same time, Evoload enables new business models which were not possible before, such as automated payments using crypto tokens, and reducing paperwork through digital documentation storage on the blockchain. This can lead to greater financial inclusion and economic empowerment for individuals and businesses.

A pretty straightforward approach, but let’s dive into the problem deeper ⬇️

Problem formulation

The logistics and transportation industry is plagued by inefficiencies that lead to high costs for businesses, but also for consumers. You pay a delivery fee for almost everything. And another thing is, many of the trucks you see on the highway, do not necessarily transport something. They can be half full, or almost empty.

Why? Well, you’ve guessed it. Poor management.

The inefficiency in time management and fuel consumption of trucks results in significant expenses for businesses, including unnecessary CO2 emissions. On top of this, in the transportation process, there are many intermediaries involved, which puts the cost even higher for businesses.

The logistics/tracking alone adds up to 35% of the total cost.

But let’s see more precisely what problems Evoload wants to solve:

High cost of transportation
Lack of transparency to avoid delays and damaged or lost shipments
Payment disputes between shippers and carriers (time-consuming and costly for both parties)
Paperwork can be time-consuming and prone to errors.
Currency conversion (You understand this one for sure!)

You may or may not be aware of these issues in the transportation and logistics industry, but I had to deal a few times with truck shipments and I can say it’s very annoying, plus risks, and almost every time I had extra costs. (It’s not like this everywhere, it was just my experience, but I think it gives you a bit of taste of what it means to deal with truck transportation).

So, let’s see how does Evoload want to solve these 5 problems??

Evoload Solution

In short, Evoload’s platform will offer a solution to all five problems by integrating smart contracts into the logistics game. Therefore, they can automate many aspects of the transportation process, such as:

P1.. = Problem 1

P1— Matching shippers with carriers based on their needs (reduce inefficiencies in the transportation process).
P2&3 — Tracking shipments in real-time using IoT devices connected with blockchain tech (reduce risk and increase trust).
P4 — Automated payments using EVOTs (Evoload Tokens), hence eliminating currency conversion and reducing the risk of payment disputes.
P5 — Reduce paperwork through digital doc storage on MultiversX.

These solutions can be implemented in a web3 dapp where the process flow will look like this: ⬇️

And to make this process feel easier, Evoload created a platform, which is similar to a usual freight web2 platform, but improved by smart contracts.

This is a glance at their MVP platform:

Evoload represents a step forward in the logistics industry by solving inefficiencies in transportation processes while providing real-time tracking data that benefits all parties involved.

Use case analysis

Evoload’s platform has several use cases that benefit all stakeholders in the logistics and transportation scene:

Let’s explore some ⬇️

Shippers can easily find carriers who have available capacity for their cargo.
Carriers reduce empty miles by finding backhaul opportunities.
Freight forwarders automate their operations and reduce costs.
Customs brokers streamline their processes and reduce paperwork.
Insurance companies use real-time data to offer more accurate pricing.

For example, in the e-commerce industry, Evoload could reduce shipping times and costs while providing greater transparency for consumers. In the healthcare industry, it could ensure that medical supplies and equipment are transported safely and efficiently, improving patient outcomes. In the agriculture industry, it could ensure that crops are transported safely and efficiently, reducing waste and increasing profitability.

The potential impact of Evoload on different industries is significant and has the potential to transform many aspects of our lives by improving logistics processes through blockchain technology integration.

Let’s compare the traditional workflow and Evoload:

Here is an example of using blockchain to increase safety and reveal product provenance in food supply chains ⬇️

A simplified example of how a blockchain-based track-and-trace system can be used to monitor pharmaceutical goods from manufacturer to end user ⬇️

These are just a few industries that can benefit from using a blockchain-based platform like Evoload, but a great number of industries can save time and money by using blockchain technology for transactions.

The technology

Evoload will be built on MultiversX, a public, decentralized blockchain that allows for secure and transparent transactions between parties without the need for intermediaries. This means that transactions can be processed quickly and efficiently, with lower costs than traditional payment methods.

One of the key features of Evoload is its use of smart contracts: self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This allows for automated payments between shippers and carriers, reducing the risk of payment disputes.

Another important aspect of Evoload is its use of digital document storage on the blockchain. This reduces paperwork and increases efficiency by allowing businesses to store important documents securely on a decentralized network.

Evoload has its own token that can be used to facilitate cross-border transactions without having to worry about currency conversion or high fees. The token can also be used to grant users access to premium features on the platform, such as advanced analytics and personalized recommendations.

If you want to read more about Evoload’s token and tokenomics, click here.

The technical aspects of the project involve integrating smart contracts into the transportation process to reduce inefficiencies and increase transparency in logistics operations.

Here’s how MultiversX tech can be used in this matter. ⬇️

Key blockchain use cases in logistics; Source: DHL

Team

Evoload’s team is made up of experienced professionals in the logistics, transportation, and blockchain industries. The team includes experts in software development, business development, and marketing.

The CEO of Evoload is Răzvan Popa, who has over 9 years of experience in business management, and a history of working in the logistics industry. He has worked for several major logistics companies and has a deep understanding of the challenges facing the industry.

Roadmap

Some things that caught my eye from the roadmap are soon in Q2, their community will test the MVP Evoload platform. And soon after that in Q3, they will launch a Mobile app plus the launching of a Freight exchange platform in Eastern Europe.

In addition to expanding its platform, Evoload also plans to develop new features such as AI-powered predictive analytics and machine learning algorithms that can optimize transportation routes.

I can’t wait to test them out!!

Challenges

One of the main challenges facing Evoload is adoption. The logistics industry is notoriously slow to adopt new technologies, so it may take some time for businesses to embrace Evoload’s platform.

Another challenge is regulatory compliance. The logistics industry is heavily regulated, so Evoload will need to ensure that its platform complies with all relevant regulations.

Security is also a major concern for blockchain-based projects in general. Smart contracts are particularly vulnerable to attacks if not properly audited and tested. I am sure Evoload will run security audits and implement best practices for smart contract development.

Conclusion

While there are challenges facing Evoload such as adoption and regulatory compliance, its experienced team and innovative approach make it a promising player in this space. As more businesses adopt blockchain-based solutions like Evoload’s platform, we can expect to see significant improvements in the logistics industry in the coming years.

As for potential future developments of web3 projects like Evoload, it is likely that we will see continued growth in the use of blockchain technology across various industries. As more companies adopt blockchain-based solutions, we may see increased interoperability between different blockchains and more widespread adoption of decentralized applications.

Web3 projects like Evoload have the potential to revolutionize various industries by leveraging the benefits of the blockchain. While there are still challenges to overcome, continued innovation in this space is likely to drive further growth and adoption of decentralized solutions.

That’s a wrap, people!

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AndreiMX

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