Supply chain disruptions caused by the COVID-19 pandemic and other geopolitical conflicts have left governments and enterprises scrambling to make their systems more reliable and efficient. The question that many of them should be asking is what is Morpheus Network?
Morpheus.Network is a supply chain middleware solution for these enterprises and businesses that has the unique ability to layer itself on top of existing industry tech. It aims to reduce costs and lag time between product and consumer.
Overview of Morpheus.Network Token (MNW)
The Morpheus.Network platform exists in the cloud between blockchain and Internet of Things (IoT). IoT is where physical objects are outfitted with sensors or other technology and communicate with each other via the internet for analytics or other business needs.
A key claim Morpheus makes is that its ecosystem can be easily integrated with different technologies in one single format.
The MNW token itself functions as the token of the Morpheus.Network ecosystem. It is used for all transactions and payments on the platform. Think of its token as the fuel required for the ecosystem to function properly,
The Morpheus ecosystem is looking to penetrate the lucrative supply chain industry with its easy-to-use interface that facilitates businesses automating most of their supply chain processes in a one-stop shop.
Why do People Use MNW?
The COVID-19 pandemic caused a backlog in the global supply chain, resulting in inflated prices and various other problems.
You may think that global trade has been completely digitized by now because it seems like that is the best option. Unfortunately for everyone involved, this isn't yet the case. Approximately 28.5 billion paper documents are exchanged annually throughout the global network of supply chains and trade financing systems.
This slow and expensive process affects everyone involved in the global trade industry. A large percent of the documents involved with global trade/supply chain are still in paper format because of legislation in most jurisdictions being based on the Bills of Exchange Act of 1882, which requires documents to be on paper, thus excluding digital docs from validation.
On average, a single transaction requires up to 20 documents (or more) with up to 240 copies. Many of these documents run several pages as well. With this amount of paper, transfer documents can take up to 2 to 3 weeks to process.
Paper is a manual process and only raises the costs incurred by global trade. It creates an untraceable lifecycle of an asset in transit, as there is no digital way of verifiable tracking.
Morpheus.Network boasts a solution to this problem with its automated supply chain middleware platform. This middleware leverages blockchain so these documents can be verifiably tracked in an immutable manner.
These papers are dubbed digital documents (dDOCs) and are a fundamental revolution in the global trade industry. They allow for documents that would normally take at least a few days up to 2 to 3 weeks to settle to be cleared within minutes.
From creation to destruction, alterations and copies of the digital documents can easily be distinguished from the originals because the blockchain's record of information.
Since it flows through a blockchain, which is transparent and unchangeable, supervisors can view who made changes, approved anything or transferred ownership of the document.
The distributed ledger technology speeds up both financial and material flows and reduces the transaction time between intermediaries, lowering costs.
A brief list of functionalities the company's middleware provides for enterprises include:
- Document handling system: The management of the chain of custody for documentation of production, processing and all handling stages of a product are in one place to save time and resources for enterprises.
- Digital ID: Products involved in a transaction receive a new level of transparency from vendors to buyers because the item is equipped with multiple types of scanning tech.
- Fraud prevention protocol: The Morpheus.Network software is stamped by SAP, which certifies its software has proper fraud prevention protocols.
- Big data analytics: All supply chain data points are located in one place to facilitate monitoring to increase supply chain performance and deploy proper algorithms for optimization.
How to Buy Morpheus.Network Token (MNW)
Morpheus.Network can be found on many popular centralized exchanges like KuCoin and Gate.io. You can also buy Ethereum on another exchange like eToro or WeBull and swap it for MNW on Uniswap.
In the United States, customers are required to complete Know Your Customer (KYC) verification to comply with anti-money laundering laws. Verifying your identity on these exchanges is easy and requires your address, Social Security number and driver’s license.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Middleware Software vs. Other Blockchains
Morpheus.Network is not a blockchain itself but a middleware solution for enterprise supply chains.
What is Middleware?
One key reason Morpheus.Network calls its platform middleware is because its platform is blockchain agnostic. Its supply chain platform is not tied to any single blockchain and can leverage the capabilities of various blockchains depending on the needs and requirements of clients.
This feature allows developers to focus on building the platform as opposed to worrying whether the blockchain it uses will still be around in 5 to 10 years.
Revenue comes from its software as a service (SaaS) structure business model. It integrates legacy and emerging technologies while also providing supply chain managers with a digital footprint.
This provides proper shipment and item tracking to automate safe and secure supply chains, saving time and money.
In return, customers pay for transactions and use the MNW token as a form of cash to pay for products or services that pass through the platform. MNW token functions as the fuel for the SaaS business model to take shape and be profitable.
Since the middleware is on blockchain, the execution of automated workflows — smart contracts — are paid with a fee in the form of tokens. This ecosystem of automated actions saves money and time for customers.
Increased demand drives the MNW price upwards, and more use cases help Morpheus.Network token holders.
The total supply of MNW tokens is 47,897,218 with a price of $0.618 as of July 28, 2022.
How to Store MNW Safely
MNW is an ERC-20 token on the Ethereum network. A couple of safe software wallets to store MNW are Atomic Wallet or Exodus Wallet, which can be downloaded from the AppStore.
MNW can also be stored on a hardware wallet like Ledger that stores your private keys similar to a software wallet, but it is completely offline and can be stored away in a safety deposit box for safekeeping.
Ledger offers three models of hardware wallets: the Nano X, Nano S and Nano S Plus. The Nano S is the basic model with everything you need to store your crypto safely.
The Nano S Plus adds a larger screen and more memory, and the Nano X has the same large screen along with added Bluetooth functionality.
Remember to write down your seed phrases on a piece of paper and store them in a safe place.
Key Takeaways for Morpheus.Network
- Morpheus is a global supply chain middleware platform that seamlessly integrates legacy and emerging technologies like blockchain through a simple drag and drop interface.
- It provides companies with shipment and item visibility for optimizing and automating supply chains, which saves money and time.
- The global supply chain industry is valued at over $15 trillion. The World Bank has defined supply chain inefficiencies as the #1 world problem to solve to stimulate economic growth.
- Morpheus partners with companies like DHL, FedEx, UPS, SWIFT, Ripple, Salesforce, China Post and Chainlink.
- The MNW token is the license to use their software.
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