SLOGN Logistics Blockchain Launches Pre-ICO, Plans $10 Million

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Last Updated: September 30, 2019 11:47 am

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The immutable and transparent nature of blockchain technology makes it ideal for supply chain and logistics applications. Some of the leading shipping and logistics companies have already started exploring blockchain for its ability to improve traceability and transparency in logistics.

However, the ongoing blockchain-based supply chain projects are being built over existing generic blockchain protocols. Changing it is SLOGN, which stands for Smart Logistics Network. SLOGN is an AI blockchain coin for decentralized logistics. The SLOGN platform makes use of advanced technology to revolutionize a multi-billion dollar industry with an estimated annual worth of over $8 trillion.

SLOGN is an AI-blockchain platform for decentralized logistics. It targets a portion of the global logistics industry, particularly the trucking industry in the United States, by optimizing the operations of over 400,000 trucking companies. Currently, these businesses and more than 3.5 million drivers employed by them have no way to share critical data related to the cargo, its condition, etc., in a reliable fashion. It has forced customers as well as the companies to depend on the trust of the entity reporting that data.

SLOGN enables these companies, drivers and other parties responsible for handling and possessing the consignments to share relevant information over an unbiased decentralized database. As SLOGN continues to develop the system, it has announced an ICO to raise the required funds.The funds raised by the SLOGN Foundation will not only be used to develop the platform and necessary infrastructure but also to support other open source projects.

The SLOGN Foundation has set in place the “Open Source Fund”, to which 7.5% of the total coin supply is dedicated. Overall, the total contribution from SLOGN to open source projects is anticipated to be around $10 million.

Much before the ICO, SLOGN has already initiated a Pre-ICO campaign, which began on July 17, 2017. During the Pre-ICO, investors stand a chance to grab the tokens at a 70% premium. However, those who would like to avail this attractive offer must hurry as it is limited to a total of 5000 ETH in contribution. The campaign will end once the target is reached.