Smart Container; Internal and External Factors

Smart containers is a project that is using the combination of Blockchain technology and IOT (internet of things) to provide innovation, efficiency and solution to the challenges of the logistics industry.

I will be utilizing the SWOT analysis to shed more light on the internal and external factors of Smart Containers that may have a positive or negative impact on its development.

Strength

The major strength of this project is evident in the its establishment and progress the team has made so far. The team have worked hard and succeeded in creating a large ground for this project in the industry. According to the whitepaper, Smart Container is presently rated as the fourth largest player in the temperature-sensitive pharma logistics in just a period of five years. Smart Container is also known to have created the safest container in the market, with less than 0.1% temperature deviations in 2017. This effort shows our committed the team is to making this project a success.

Another advantage that cannot be overlooked is the fact that Smart Container has been able to secure partnership with two global key players in the market (Emirates and Cargolux). This shows that Smart Container is accepted into the market with both hands as it will be seen as an ally with the necessary innovation for the good of the industry rather than a competitor.

Smart Container is also at advantage of being the first container company to accept cryptocurrency for payment in the industry, which opens up access to a new customer base for the whole industry.

Weakness

The Blockchain is relatively new to the world and it is still some regulation away from being mass adopted. Smart Container is looking to revolutionize the logistics industry through the use of the Blockchain technology. Though the solution is amazing and innovative, it would still have to face some difficulty with adoption, as Blockchain is not yet globally accepted and some government even deem it to be illegal.

Opportunity

The logistics industry is one that have grown and evolved with technology for different age and time. It is known to presently worth billions of dollars in worth and yearly transactions. Being plagued with limitations like wastage of temperature sensitive products due to temperature deviations, complexity in logistics process, etc. which has led to the loss of billions in the industry. These limitations need a lasting solution, which have opened up a very promising opportunity in the market. Smart Container is abreast of this opportunity and is well positioned to take it with both hands. By providing solution to the obvious problems of the industry, Smart Container will be able to reduce to a large extent the wastage of resources and also have it value increase drastically. This opportunity is too good to be missed by any project.

Threat

Like every Blockchain project, Smart Container is threatened by the same threat which is the possibility of a competitor emerging. The logistics industry is massive and wide, there is the possibility of imitators coming up with a similar concept to Smart Container which and considering the free barrier nature of the Blockchain, this is a threat to this project.

The advantage that Smart Container has is the fact that it is the pacesetter and it is already stamping it impact in the industry by partnering with key players in the industry.