Project Insight - Morpheus Network

Project Insight

Morpheus Network - Gem Spotlight

Introduction

Morpheus.Network, the cloud-based blockchain middleware platform designed to disrupt the Global Trade Industry, has some secret weapons up its sleeve. In case you have not yet done your research – Morpheus.Network offers a revolutionary suite of emerging technologies and integrations that provide shippers and exporters with a complete set of tools needed to revitalize and modernize a supply chain. The biggest selling point of the platform is the fact that clients do not need to replace their expensive systems to use it. Instead, the platform seamlessly integrates with any system and instantly provides value-adding, customizable and fully automated workflows.

Supply Chain Complexity

The world of supply chain is extremely complex, mainly due to all the moving parts in the system - anything from the creation of a product, to switching hands between companies and postal carriers, to the consumer. In short, blockchain technology can help with ease this complexity by allowing users to have access to a tracking network. 

And Morpheus Network is a project that is catching attention to making this supply chain management on the blockchain a reality.

Morpheus is a network platform software as a service (SaaS) that can do several things: integrate legacy and emerging technologies together under one roof so supply chain participants can communicate effectively, optimizing a supply chain network that’s safe and secure, and allow companies that use a blockchain supply chain network to save tons of money and time.

So how does the Morpheus Network operate? How can it support legacy (non-blockchain) systems when they have already existed for decades? What can Morpheus provide for the future of supply chain?

Morpheus Network Simplification

The goal of Morpheus Network is to create a middleware network, sort of like a traffic or highway system that automobiles would use, and apply that to supply companies with blockchain as the vessel. Companies that use the platform and participate in the network can add their data to the service, notarize their good and services on the Ethereum network, and use it to communicate with other companies that are following suit. Morpheus Network is able to accomplish this using a layering technology that helps cover gas costs associated with the network, interoperability issues that allow multiple parties to trade effectively with each other, and solve any scalability issues related to how many transactions per second can be used on the Ethereum network. 

Morpheus Network can reduce the gas fees on their system by doing something called batching, which takes a handful of transactions at once and places them on one transaction on the ETH network, effectively using the Morpheus Network as a side chain. Communication to non-blockchain systems can be used with their interoperability technology that leverages systems like SAP, Hyperledger, and Microsoft Dynamics in being able to effectively communicate and transfer the necessary data to the blockchain. 

The Morpheus Token, known as the ticker MRPH, is the fuel used for the network that allows the system to operate effectively. MRPH is an ERC-20 token on the Ethereum network that allows the network to use employment contracts, governance improvements, and payment processing as a value-based utility. The MRPH token uses smart contracts to communicate on the network, modifying the date by network participants, and locking transactions and communication of the blockchain. 

Revolutionizing Logistics

Morpheus Network takes the complex world of supply chain and makes it simple for a future that needs complex systems to run as efficiently as possible. A few mistakes in a logistical system can cause lots of time and money, as well as headache. Over the years, the supply chain has been more and more saturated with consumers having goods delivered to them at record highs. Morpheus can take systems that already exist and place them on the blockchain for effective operation.

What’s also special about the platform is the attractiveness of plug-and-play middleware to IoT hardware providers. Middleware offers a unique, seamless integration of IoT devices and legacy systems. With all the features and functionalities already built on top of the platform, innovative hardware providers such as Hanhaa have begun to market the platform itself as well as its own product. Hanhaa partnered with Morpheus.Network to deliver customers a comprehensive SaaS + IoT product traceability service. Their IoT device, Parcelive, is a “real-time parcel tracking service that connects users to live information about the location, condition and security of their assets regardless of their country, carrier or scale.” 

Blockchain Innovation 

Morpheus Network’s revenue and fee structure is a model that incentivizes resellers and developers alike to go out and bring more customers to the platform. It promises that, if successful, a percentage of Annual Platform Revenue (APR) will be distributed to them. So, if a consultant convinces a large corporation, or even a National Government, to join the platform as a paying customer – the consultant would be entitled to a share of revenue derived from that contract. This is greatly beneficial for real-world growth and adoption.

At least one major blockchain consultancy firm has taken this opportunity and ran with it. Blockchain Guru is a leading Canadian blockchain provider, with an array of products and services at its disposal -- blockchain, machine learning, IoT devices, data science, supply chain technologies, etc. Perhaps the most touted software it has to offer is the Morpheus.Network platform itself. Blockchain Guru’s branch Dimitra has a section on their website where they list their Government solutions. The two platform solutions that are listed -- the Agro Crop Input Platform and Livestock Identification Tracking Platform -- are built on top of Morpheus.Network. Per the website, the former is “deployed in three countries,” and the latter is “deployed with two major global Agriculture Ministries.”

Very recently, Morpheus Network unveiled a SENASA approved regulation that compels thousands of businesses in Argentina to use the platform to track phytosanitary products (pesticides, fertilizer, etc). These companies include Bayer / Monsanto, Atanor, YPF, and many more. Morpheus.Network is seeing great growth with adoption and we are excited to watch them expand further in 2021…