Press Release (ePRNews.com) - St. Peterburg, Russian Federation - Sep 18, 2017 - The IMMLA consortium will start testing its system in the fourth quarter of 2017 — after the completion of the ICO. Russia will be the first market for IMMLA system testing.
The choice of Russia as a region for testing the system is not accidental. This is due to a number of reasons.
Market capacity. Logistics industry in Russia produces 5.6% of GDP (the same figure for the US — 2.7%, China — 2%). Russian forwarding services market is estimated at $1B per year and 5% of logistics market turnover. Sprawling truck network, a large number of ports and the dominant role of international trade will allow to have a good start the decentralized service IMMLA.
In the beginning of the first quarter of 2018, a beta version of the IMMLA system will be released following by commercial version in the end of the first quater.
No special licensing. Unlike the legislation of other countries, in Russia, there is no license for forwarding activities. This will allow IMMLA team to avoid additional costs and to begin searching for customers for beta testing and localize in the market in the tightest deadlines.
Developed IT-infrastructure. In 2015 devices with GLONASS were installed into the 100% of Russian truck fleet and a data collection system for the location of trucks was introduced. This will allow developers to implement ubiquitous online geo-tracking of cargo with the recording of ownership transfers to the blockchain.
Legal status of cryptocurrencies. As to legal status of cryptocurrencies, is accurate to say about decriminalization of cryptocurrencies in Russia than about their total legalization. The Federal Tax Service considers operations with cryptocurrencies as currency operations, and no real measures aimed at suppression of turnover are currently being enforced by law enforcement agencies
As a result of testing, in the beginning of the first quarter of 2018, a beta version of the IMMLA system will be released following by commercial version in the end of the first quater.
At the moment, transnational companies Hellmann and Formag Forwarding have already agreed to participate in testing. Nowadays negotiations are conducted with one of the largest private railway operators of Russia Eurosib and the Belgian holding company Ahlers. Moreover a partnership with the largest shipping line and the port operator of the Far East and the Black Sea basin is planned for the port and shipping operations module. Also IMMLA in the negotiations with freighters from China and Australia about their participation in IMMLA testing.
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.
The project details can be found in White Paper and IMMLA social media pages — Facebook, Twitter and on our Telegram channel. Source :