P2P Delivery system based on blockchain.
Volt oﬀers lastmile delivery that promises fast, less than few hours, delivery within the cities. Our unique platform eliminates the commission burden for customers and lifts the restrictions on becoming a delivery messenger.
Other P2P deliveries, including UberEats, have commission over 30% of the delivery price to cover the operational expenses. Volt’s blockchain delivery ensures direct transac on between the customer and the messenger, without additional intermediary fee.
A successful case of eliminating the intermediary can be observed from the opera on of Bitcoin. Bitcoin has been opera ng successfully for the last decade, without banks nor staﬀs in the intermediary opera on. Succeeding from Bitcoin, Volt’s interindividual system allows facilitated delivery by implementing Volt’s own algorithm and thus, reducing the interven on from operational processes. Whitepaper and execu ve summary can be changed for the company and contributors.
1. Artiﬁcial Intelligence (AI) Technology
A. Price Calculation
Volt’s AI technology not only calculates the delivery price according to the travel distance, but also includes other variables; the Weather, Supply and Demand, Holiday surge, Speed of delivery, Means of transportation, Rush-hour surge and messenger’s reputa on. Through reinforcement learning, AI technology unbiasedly accounts for the variables that employees might not have considered.
B. Route Optimization
Volt’s App increases the eﬃciency of transac on as well as convenience by optimizing the route for the messenger using GPS.Route optimization does not simply compute the shortest route to the des na on but allows systematic arrangement of mul ple deliveries to increase eﬃciency and to reduce the probability of deadheading (where the messenger delivers a package one-waybut returns empty handed, causing massive ineﬃciency).
C. Instant Hub
In addition to delivering the packages through P2P, establishment of instant hubsstreamlinesthe temporary meeting points in the cities, similar in function to the Amazon’s warehouse. The logistics hubs have advantage of promoting the Economies of Scale to reduce the logis cs expenses. However, they require high initial cost and possess both physical and cost barrier which makes building in ci es problematic. To solve these problems, Volt’s AI technology allows the messengers to exchange the packages at a set time to minimize the travel distance and to reduce the price.
2. Blockchain Technology
A. Reputa on Management
Volt rewards the messengers of high reputation with prioritized exposure to the list of orders and prices.To prevent manipulation of the messengers’ reputa on, a possibility in the centralized server, Volt’s blockchain encrypts all information on orders into hash for sharing and distributing.
We operate via smart contract-based escrow to satisfy both the customers and messengers, thus without the hassle of creditcard readers. An automatic payment towards the messenger will be made when delivery is completed. With our AI model, the payment for messengers will automa cally take the delivery time and quality into account.
C. Encrypted Ledger
The company’s shipment information is conﬁdential. If these key informa on is simply shared by the computer server, it risks cyber-attacks through the vulnerabilities in the server. Thus, ensuring informa on security by blockchain’s encryption technology is essential.
D. Tracking Service
Blockchain technology, if implemented by the distributors, will facilitate the management of package tracking in a more eﬃcient and reliable manner. The time taken to upload and track existing package will be dramatically reduced to average of 7 days to 22 seconds. This facilitation will beneﬁt customers who require tracking of luxury goods, secondhand items, and conﬁdential documents, by providing them a peace of mind.
The aim of decentralization in Volt is not only to achieve in terms of technology, but to encompass the decentralization of a social structure. Volt pursues a society where everyone can utilize the technology and receive equitable allocation for the cost of labor.
For centralized plaform service, a strong authority is to the owner of the server. On the other hand, through Volt’s blockchain technology, all processes will be shared transparently to all the users.
Volt stores the customer’s personal information in hash value that cannot be compromised, to provide secure service.
Volt rewards Volt-coin for all delivery. This Volt-coin is calculated by our developed algorithm and can be exchanged for Jula. Volt-coin is designed to optimize the delivery mechanism, and is used to operate our smartcontracts and escrow.
Volt’s Development department is divided into two divisions; AI development team and Blockchain development team. AI development team is composed of prominent experts,including employees with doctorate degree in Computer Science from UCLA and graduate of Carnegie Mellon University in Statistics. AI development team performs in-depth research on automatic price calculation, GIS-based route optimization and instant hubs. Blockchain development team is composed of professionalsfrom University of Oxford, Yale University, Korea University and Ajou University, assiduously working on the optimization of the system. In addition, a developer of ‘Naver Line’ has joined to work on bridging the blockchain smartcontracts with AI technology.
In addition, Volt’s advisor group includes Mr.Jae-woo Lee, a CEO of the best and largest Korean Private equity fund company “Vogo Investment”.
QuickQuick is a company with NHN Entertainment as second-largest shareholder and was established in 2016. By 2017, QuickQuick has grown to become the largest last mile, same day delivery company. We oﬀer same day delivery to large corporations including LG, Samsung, Hyundai Department store, Dream Logis and DHL.