Fr8 Network Ico Review – Unleashing the Power of Blockchain

Fr8 Network Ico Review

About Fr8 Network

While container shipping changed how physical goods moved about Fr8 Network globe, Fr8 Network is positioned to change how goods are moved through information systems. Every major shipping company manages their business through software. Most organizations maintain their own internal system of record, making coordination without significant data manipulation very difficult. Blockchain technology is bringing about a new renaissance in coordination for supply chains.

Fr8 Network immutable, trusted and secure ledger, blockchain databases are perfectly positioned to connect the fractured supply chains over a standardized information set. Just as the standardization of shipping documents like the Bill of Lading and Waybills allowed clearer terms of communication along a supply chain, blockchain ledger networks will provide standardized ways of accounting for supply chain transactions over information systems.

The Fr8 Network is a set of applications, services, and protocol specifications backed by blockchain technology, built to bring visibility, automation, and trust into the logistics ecosystem. Access to these tools will be modular and pricing schemes diverse. To start, the Fr8 Token will provide users access to software at a discount. Acting as a “smart coupon,” Fr8 Token follows the standard discount token model summarized below .

Fr8 Network Key Information

KeyPoints
Token NameFr8 Network
PlatformEthereum
Price in ICO0.1500 USD
Average price0.24 USD
Tokens for sale100,000,000
CountryUSA
StatusActive
Token TypeERC-20
Token SymbolFR8
Distributed in ICO10%
AcceptingETH
Raised$1,213,222
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

The Game Change Team Behind Fr8 Network

Fr8 Network Ico Review - Unleashing the Power of Blockchain

Fr8 Discount Token Model

Where t is the number of discount tokens activated, y is the quantity or level of service purchased by the user during the license period, and X denotes the global network state or any material characteristics thereof. The function f(t, y; X) is the component of the model called the discount function. It is assumed that f is formulated in such a way that C is always nonnegative, that is, discounts never turn into profits. Consequently, it is assumed that there is a value tmax(X), such that t ≤ tmax(X), which limits the ability of the user to activate tokens1.

The cost of using Fr8 Network services (like the Fr8 Protocol APIs or the Fr8 Marketplace) is a function of the amount of individual services consumed, the amount of Fr8 Token the user deposits into a license smart contract, and the total ecosystem service usage and token deposits. As more tokens are enabled in the ecosystem and subsequently more services are demanded by the ecosystem, the same number of tokens will access a greater number of features.

In a discounted token model it is possible to receive free access to services in the Fr8 Network ecosystem. Early users of the Fr8 Network suite of products will see increases in the amount of services a single unit of Fr8 Token provides. Should their demand for services be stable as the Fr8 Network grows, the excess token can be sold off to new users seeking discounts on logistics services in the Fr8 Network ecosystem.

Fr8 Network Business Model

The first product Fr8 Network is building is a full-featured software suite called the Fr8 Marketplace. This marketplace will be accessed through software licenses purchased in recurring monthly and yearly subscriptions. Pricing for the marketplace is competitive with that of other industry marketplaces which average $35 per month per user. The Fr8 Marketplace is the first platform built on top of Fr8 Network’s second product, the Fr8 Protocol. This protocol will be accessible through a suite of powerful and scalable APIs.

It is designed to service the logistics life cycle of a product moving through a supply chain and includes APIs to record and read data about location, temperature, relevant documents, payment status, and more. Access to the protocol will be billed by transaction volume and total storage and is competitive with that of standard cloud-based platforms. As the Fr8 Protocol and Marketplace mature, new features will be added. Fr8 Network will offer “al la carte” access to these features to give businesses exactly what they need.

How the Fr8 Token is Consumed

The Fr8 Network Token will be used as a way of offsetting the total cost of services for a user of the Fr8 Network. Users will hold profiles in the Fr8 Network. That profile will be associated to a smart contract on the public blockchain responsible for the Fr8 Token accounting. When a user signs up for a Fr8 Network service like the Marketplace license or API licenses, they will be shown a pricing model that is denominated in Fr8 Token and their preferred fiat currency.

If a user has Fr8 Token, they may deposit any percentage of token the license requests up to 100%. If the user deposits an amount below the total Fr8 Token cost indicated, the remaining balance will come out of the user’s fiat payment system like a credit card or PayPal.

After Network Growth

Fr8 Network, and Darlene have been using the Fr8 Network for a year now to operate their businesses. Over this time, the network has grown significantly – new members sign up daily to list capacity, bid on contracts, coordinate movement, and more. Checking back in, and assuming the same level of service usage for both Sergey and Corbin, the discount token model automatically adjusts the required tokens needed to offset the service costs.

Darlene Developer

Fr8 Network has created a useful mobile app for Customs agents at the border to check on the status of a trucks moving through the checkpoints. Having seen the challenge of slow border crossing due to manual document validation, she wanted to give customs and border patrol access to the data they need to speedily approve drivers for crossing. Darlene knows that the lifecycle of a shipment is captured and stored in the Fr8 Protocol. All data needed to build her mobile application is available, she just needs various permissions to access the data for display in the app when an agent needs to view it.

The Fr8 Network Protocol developer ecosystem has a number of great tools for Darlene to incorporate into her app. For now, she her app only needs to read document data for display to a customs agent. She creates a developer account on the Fr8 Protocol and selects the data points she needs. These include location data to predict when the driver is arriving, document data like the bill of lading and commercial invoice, plus a few more.

Corbin Carrier

Fr8 Network is the dispatcher for a trucking company. The company that Corbin works for has 50 trucks, making his organization larger than 97% of all US trucking companies. His job is to make sure his drivers are always on the road earning a wage. Coordinating all of those trucks is challenging and the tools he was using before Fr8 Network restricted him from maximizing his driver’s time. The Fr8 Marketplaces gives him a way to post his driver’s availability and to bid on loads. He also found that his history of hiring only the best drivers would allow him to bid for premium loads thanks to his excellent customer service record, a feature unique to the Fr8 Marketplace.