By Mark Graigham of IMMLA
IMMLA is an international multimodal logistics application based on the Ethereum blockchain. IMMLA mission is a safe and convenient interaction between the cargo owner and the carrier at all stages of the cargo transportation process. The new technology will dramatically reduce the number of the personnel involved in logistics planning, information barriers and legal costs. IMMLA consortium is created by leading logistics services and IT companies such as SBSolutions, Formag Forwarding and experts from Hellmann Worldwide Logistics.
Considering positive growth of IMMLA project we spoke to IMMLA CEO Kirill Tulenev on the eve of “investment window” opening.
Kirill, you have strong experience in logistics and SCM, you worked as Managing director of United Arab Shipping Company (UASC) Agency in Russia before IMMLA project. What changes of logistics industry during past years you can underline?
Nowadays transport technologies are developing at a fast paces driven by strong market competition. At the same time industry faces with growing demand of transparency in logistics transactions and supply chain management. In this regard volatile transport costs have high potential for optimization.
Can the introduction of innovative technology solve the market problems once and for all?
Proactively step by step. Global integration is key aspect for further development of logistics sector. Introduction of ERP systems in the mid-2000s let the companies effectively manage increased cargo volumes. The same mission currently refers to blockchain technology and its smart contracts.
So the search for unified technological solution by leading market players is under way?
Existing list of technological solutions includes both universal ones and designed for individual needs. In this case key target of leading transport operators is cost saving subject to higher controllability of operational process.
You’ve been in the IMMLA team almost from the very beginning. Why did you get interested in the high-tech start-up?
From my point of view, concept of IMMLA project is generated in line with future stages of logistics industry development. Informational support of logistics and SCM will allow reducing transportation costs, on the one hand, and improve quality of transport product due to the high-speed information exchange between the agreement parties, on the other.
Will IMMLA be able to integrate into the existing market structure?
We are going to start in Russian market being ready for the full complex usage of this product in multimodal transportations.
Does IMMLA project bring something brand new to the logistics sector, like UBER once did in the field of passenger transportation?
IMMLA concept reflects solutions that can change transport sector. Achieved transparency of transactions and unification of commercial conditions contribute to optimization of transportation costs. However, the introduction of IMMLA product should effect on decreasing volatility in logistics services market as positive trend.
Recently you’ve stated that project starts expansion to China not in planned year of 2021, but in 2019. What is the reason for such a significant change in the scheduled launch?
China is one of largest production clusters and transport market segments. Significant cargo flows are directed from China to North America and Europe (also taking into account prospects of “new silk way”). This trend will not change in near future, for that reason Chinese market is priority-oriented for IMMLA.
I’d like to return to the ICO. Why did you choose this method of attracting investment, rather than venture capital investment or even more traditional ways?
First of all, IMMLA is an innovative project optimizing logistics processes, therefore we have chosen method of investments formation most relevant to our profile in a limited time frame.
Reaching the upper limit in the Pre-ICO allowed us to involve additional staff, intensify development of new product solutions that soon will be announced. Recently we released our pre-alpha version of our product and Proof of Concept based on Ethereum blockchain.
Scheme of processes in IMMLA system
What do you see the IMMLA project to be like in 5 years?
I know that you had a look at our White Paper (smiling). At present stages of market development, only position in several steps ahead can provide competitive performance. We are developing technologies that should become a general element of supply chains in the nearest future, therefore IMMLA is oriented on keeping pace of growth ahead of logistics market level.
Note: The opinions, beliefs, and viewpoints expressed in this article do not necessarily reflect the opinions of World Maritime News.