The global supply chain faces several issues today, mostly from man-made errors. According to a 2023 Market Share Analysis and Data report, supply chain disruption caused by human errors causes major losses in terms of finances (62%), logistics (54%), and reputation (54%).

Two possible approaches to solving this are to develop procedures to minimize human errors or explore automation to significantly reduce these errors. Morpheus Network is a standout solution that combines various technologies to enhance the supply chain process and minimize human errors. This article will discuss how Morpheus Network achieves this.

What is Morpheus Network?

Morpheus Network is a revolutionary Software-as-a-Service solution targeted at the supply chain industry. It streamlines the entire process, automating tasks from production to delivery, and integrating with over 100 other solutions to enhance its operations.

The platform is designed to help businesses and government organizations address challenges related to streamlining and improving their supply operations. As such, Morpheus Network assists clients in maximizing their revenue, protecting their data, and upgrading from outdated supply chain systems.

Developed by industry experts, Morpheus Network addresses major challenges, such as the lack of verification and authenticity of records and the overwhelming volume of paper documents and contracts. The platform utilizes immutable ledgers and smart contracts to address these issues, making document verification and signing more efficient and secure.

History of Morpheus Network

Morpheus Network was founded in 2016 by Danny Weinberger and Noam Eppel. The team also includes Roger Crook, the global logistics team lead who spent over a decade as the CEO of DHL.

In 2019, Morpheus Network launched Morpheus Network Blue, their first platform version. It introduced new features like automated workflows, IPFS document storage, QR code triggers, and Internet of Things (IoT) integration. However, to boost global adoption, Morpheus Network had to integrate over 100 new features to meet client and partner needs. Because of this, they released Morpheus Network Black.

The project’s novelty attracted interest from organizations like Alpha Token Capital and 1871. Google for Startups also recognized the project, providing it access to its resources, such as products and personnel, to boost its growth.

Moreover, Morpheus Network has won several awards for its innovative practices, including the Gulftainer “Future of Ports” award, the Food Logistics Top Software and Technology Providers award, and the ISCEA PTAK Award for supply chain excellence at the SCTECH2021 conference.

How Does Morpheus Network Work?

Morpheus Network is uniquely positioned as a “middleware solution” serving as a bridge between different IT systems and solutions. The platform connects to multiple independent systems and acts as a central hub to convert manual, error-prone processes such as miscounts, misplacements and data entry errors into an automated, streamlined digital workflow. This approach improves control, increases efficiency, simplifies process monitoring, and allows for preemptive error avoidance measures.

As a middleware solution, Morpheus Network aims to integrate with existing systems, not replace them. This minimizes adoption costs and encourages businesses to leverage the platform for automation and data-driven insights. The project handles the complex blockchain technology in the background, offering a user-friendly web interface for quick adoption. This approach connects all supply chain data streams, enabling holistic analytics and process optimization.

The project also creates a detailed digital record for every shipment, giving supply chain managers real-time visibility into their operations. Various stakeholders like brokers, logistic companies, and freight forwarders can also add compliance and shipping documents at key points in the supply chain. This helps companies and consumers verify a product’s origin.

Additionally, Morpheus Network leverages data analytics to identify improvement opportunities. Its real-time dashboards allow for performance monitoring, and the system can suggest adjustments to optimize processes. This could involve automating tasks, integrating new technologies, or simply improving data flow.

Furthermore, Morpheus Network offers a comprehensive platform for managing global trade, with over 100 pre-built modules covering essential trade technologies like document handling and payment systems. It also provides support for cutting-edge features like blockchain and machine learning. Users can even create custom modules to tailor the platform to their unique needs.

Additionally, Morpheus Network prioritizes both security and transparency. Sensitive data is kept secure within approved networks, while other information can be freely shared with trusted partners. It features a blockchain-agnostic architecture that allows users to choose their preferred blockchain technology without relying on just one blockchain to satisfy all its needs.

This innovative approach eliminates barriers between stakeholders by facilitating trust without forcing everyone to use the same systems. As such, Morpheus Network creates a “trustless” environment for information exchange, ensuring data security and privacy and fostering collaboration and innovation within the supply chain ecosystem.

Main Features of Morpheus Network

Morpheus Network offers a suite of features to help optimize the supply chain process. These features include:

Document Handling System

Morpheus Network gathers and stores data from different parts of the supply chain, making it easier for companies to analyze and improve their operations. It also helps companies automate tasks and optimize their supply chains by providing valuable insights from the unified data.

Additionally, the platform features a Document Handling System that allows for the secure and immutable documentation of various stages of supply in digital format and a partnership with Customs Direct to facilitate cross-border shipments.

The platform also provides built-in OCR scanning capabilities and smart data extraction, allowing for converting documents into machine-readable data. This automated process enhances efficiency and minimizes errors within supply chain operations. Moreover, Morpheus Network’s modular workflow design allows for adaptation to different supply chain needs and specific document requirements, such as customs declarations and FDA approvals for the food industry.

Digital ID and Fraud Prevention

Morpheus Network addresses the issue of counterfeiting by enabling vendors to create a transparent supply chain using digital identifiers such as QR codes, RFID, barcodes, or NFC technology. These identifiers and product data from various sources create unique digital identities for products. This allows distributors and retailers to scan products, link information to their unique identity, and store all data permanently on the blockchain to prevent counterfeiting.

Furthermore, Morpheus Network leverages the collected data to optimize stock levels, automate reordering and payment processes, and identify buying patterns within the supply chain. It also utilizes QR codes for easy smartphone scanning, providing easier product identification and offering more transparency for users. As a result, the platform combats counterfeiting and streamlines production and warehousing processes.

Morpheus Network SDK

Morpheus Network released a new Software Development Kit (SDK), allowing third-party developers to create modules on the platform and maintain the same quality standards as those created by the project.

The SDK presents new opportunities for collaboration and increases the platform’s compatibility, customization, and extensibility. It also allows clients to generate revenue by offering their custom-built modules to other platform users.

Moreover, developers and community members can customize their solutions to effectively handle emerging use cases. Part of the overall revenue generated from these custom modules will be distributed directly to the developers to incentivize such innovation.

Morpheus’ Main Integrations

Morpheus Network has gathered over 100 integrations with industry leaders, from global logistics giants like DHL, FedEx, and UPS to renowned software providers like Microsoft, Oracle, and Salesforce. These key partnerships ensure seamless data exchange and workflow automation across the entire supply chain.

For example, integrating with SWIFT facilitates secure and standardized financial settlements with traditional banks worldwide. Meanwhile, integrations with blockchain technologies like Ripple and Chainlink provide access to innovative financial solutions and real-world data access for smart contracts. This approach encourages businesses to leverage the power of blockchain technology without sacrificing compatibility with existing infrastructure.

What is MNW?

The MNW (formerly MRPH) token is the Morpheus Network’s ERC-20 utility token, serving two main functions. The first step is to automate tasks that previously required manual intervention, thus reducing operational costs. The second function is to verify all transactions/datasets in its database, creating only one version of information that everyone can trust, and convert the information into a common machine-readable data format for easier automation.

MNW Tokenomics

MNW has a total supply of 47.9 million, a current circulating supply of 37.5 million, and a market cap of $33 million.

News on Morpheus Network

On May 14th, 2024, Morpheus Network announced that the project was accepted into the highly regarded Paddle AI LaunchPad program. The program is a rigorous six-week course aimed at helping participants improve their ideas and understand the challenges of launching products powered by artificial intelligence.

As an incentive, participants will compete for a $20,000 cash prize from Paddle. A panel of experts will judge the submissions and pick the most promising AI-powered project.

Is MNW a Good Investment?

Morpheus Network is a project that will use blockchain technology to transform the traditional paper-based and human-controlled supply chain industry into full automation. However, users must remain careful when investing in crypto projects, as the market remains very volatile. Everyone is advised to do extensive research and consult qualified financial personnel before investing in any project.

Take Action on MNW

MNW can be purchased on centralized and decentralized exchanges like gate.io. Click here to view and trade your favorite pairs.

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