Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Cryptocurrency

Can the Morpheus Network cash in on Shipping?

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The Morpheus Network (MRPH) hopes to give its cryptocurrency real value by leveraging one of the world’s largest industries–shipping.

In essence, Morpheus is marketing a better way to track cargo by combining blockchain and quick read code (QR) barcodes. The hope is to make cargo containers and other shipments easier to track with barcodes.

The idea is to create a permanent, easy-to-read, and tamper-resistant record of every shipment on the blockchain. Ideally, anybody could quickly access that record by scanning a QR Code with a phone or other gadget.

The QR Code and blockchain could create a permanent record of ownership and shipping in the blockchain. Thus, owners, customs officials, and others could identify each shipment and verify its ownership at the touch of an app.

Morpheus is a payment solution

Additionally, a smart contract or digital robot, written into the Morpheus blockchain could divulge all the pertinent information about the shipment. For example, the smart contract could contain the manifest and bill of lading.

For example, a smart contract could send a message notifying a shipper when a shipment arrives. In addition, a smart contract could notify a shipper each time somebody opens a cargo container.

Theoretically, the smart contract could notify the shipper if a shipment is late, or send progress updates to the shipper or the insurer. To send notifications they will have to put wireless devices that send messages to the shippers on containers or shipments.

In addition, they will build an integrated cryptocurrency payment system into the Morpheus Blockchain. The system could pay shippers in MRPH when they deliver cargo. Morpheus is also a layered payment system designed to facilitate SWIFT, international bank payments for shippers.

Morpheus is working with large companies

Impressively, Morpheus claims to have over 100 integrations built into its blockchain.

Those integrations include interfaces with major corporations and popular software. For instance, there are integrations with SWIFT, FedEx (NYSE: FDX), UPS (NYSE: UPS), Ripple (XRP), Oracle (NYSE: ORC) Microsoft Dynamics, AccessPay, Salesforce (NYSE: CRM), DHL, and China Post.

Are Morpheus and Ripple (XRP) Scalable?

Thus Morpheus is working with large software providers and shippers. China Post; for example, is the Chinese post office. In addition, Morpheus could work with the popular scalable cryptocurrency Ripple.

Ripple claims it can process a transaction in just 3.81 seconds. To clarify, Ripple (XRP) had a ledger close time of 3.81 seconds on 12 December 2019.

In addition, Ripple was processing 13.32 transactions per second (TPS) on 8 December 2019. Plus, Ripple claims it has processed over 1,500 TPS at once.

Thus, Ripple claims to scalable. In comparison, many observers claim Ethereum (ETH) can only process 15 TPS a second. Thus, an Ethereum platform could slow down if it processes over 15 TPS.

Is there a Market for Morpheus?

I think there could be a huge market for Morpheus because of the vast amounts of cargo we move.

There were 53,732 ships in the world’s most merchant fleet in January 2018, Statista estimates. Many of those ships carry cargo containers.

In particular, cargo containers carry 60% of the world’s seaborne trade; worth $12 trillion, Statista estimates. Moreover, the volume of trade is growing fast. The deadweight tonnage of cargo ships grew from  11 million metric tons in 1980 to 253 metric tons in 2018, Statista estimates.

Tracking that cargo is difficult because Statista estimates the global merchant fleet could carry 20 million standard cargo containers in July 2016. Hence, nobody knows how many cargo containers are out there.

Plus the problem is getting worse because Statista estimates the cargo container market had a Compound annual growth rate (CAGR) of 4.7% for the years 2016 to 2019.

Therefore, the world needs better means of tracking cargo containers and other freight shipments. Hence, there could be a market for tokenized cargo tracking solutions such as Morpheus.

Why they Need Morpheus

Beyond maritime freight, there is all the cargo moved by trucks, trains, and air. Tracking cargo is tough because they move most containers through two or three means of transport.

For instance, a truck could haul a container from the factory to the railyard. At the railyard, they could load the container on a train that takes it to a port. At the port, they could load the container on a ship that takes it to another where they repeat the process.

Hence, one container can move on several trains, trucks, or ships. Thus, shippers will pay for anything that makes tracking easier.

What Value Does Morpheus Have?

Currently, Mr. Market  gives Morpheus (MRPH) a little value. CointMarketCap; for example, estimated Morpheus had a Market Capitalization of $4.081 million, a 24-Hour Market Volume of of $33,938.11, and a Coin Price of 14.39₵ on 11 December 2019. They based those numbers on a Circulating Supply of 33.359 million MRPH and a Total Supply of 47.987 million MRPH.

Meanwhile, the Bancor Network estimates Morpheus had a Coin Price of 14.8₵, a 24 Hour Market Volume of $1,800.81, and a Liquidity Depth of $12,090 on 10 December 2019. The Liquidity Depth is the cash value of the Morpheus tokens in Bancor’s Liquidity Network.

Hence, Mr. Market regards the Morpheus Network as a theoretical Ethereum blockchain solution. Thus, Morpheus is an interesting idea for a blockchain platform that could tap a huge market. That is how speculators need to think of solutions such as the Morpheus Network.