— BIISUMMIT (@BIISummitDubai) February 19, 2018
1 min pitch for what you are doing now?
Volt operates the Last Mile Delivery service in a decentralized manner. Volt has created an Uber-type delivery platform in a centralized manner in the Republic of Korea. This delivery platform enables delivery within the city from 30 minutes to 3 hours. However, there was about 30% commission for managing messengers or managing orders. Likewise, Uber eats is also receiving high commission, and the fees for these delivery platforms can be lowered due to block-chain-based technology. We are also optimizing the platform based on AI. We will provide delivery service which is fast, reliable, and inexpensive by optimizing delivery with AI, smart contract, and cloud computing technologies.
How was the last year, what worked well, what didn’t move as quickly as you would have liked?
Last year, Volt built a centralized delivery platform that delivered on the same day in the city as Uber taxi. This method has grown greatly because it was more customer-friendly than the conventional method of finding a messenger by phone. However, messengers and customers were not always matched, so volt’s employees had to manage orders. To fix this problem, we are going to create a flexible contract with the AI system and an instant contract with smart contract technology. And I think that block chain technology is the most efficient way to implement this approach.
What are your plans for the future?
Our goal is to provide the most optimized platform for Same-day delivery. First, we want to make existing point-to-point delivery available to everyone and make it easy for anyone to be a messenger. And we are trying to maximize messenger’s profit by complementing this method by creating Points-to-points. This is the way one messenger picks up things from one area to another, moves to another area and processes multiple deliveries at once. Finally, we are going to build an instant hub-spoke in 2018. We try to maximize delivery efficiency by meeting messengers at an intermediate point, sorting nearby items and sending them back. Although the existing hub-spoke method has a disadvantage that it has a huge infrastructure construction cost and it is difficult to build it in the city center, the instant-hub has the advantage of being able to flexibly change the structure by sudden increase or decrease of the volume.
- Point-to-point delivery
- Instant hub-spoke
What will you be talking about at this event?
In Dubai we want to talk about our business model. Volt is a block-chain-based Last Mile Delivery company based in Singapore, and the core values of the company are “Decentralization”, “Transparent”, and “secure”. Volt enables same day delivery in cities to be done quickly and reliably with blockchain-based cloud computing, AI and smart contracts. Volt creates a network that connects customers and messengers directly to P2P without intermediate logistics.
Volt Tech Korea, the parent company of Volt Singapore, has more than 3,000 active messengers, and they carry out the same-day last mile delivery as Uber-style, and about 720,000 deliveries were performed in 2017 by them. The company was invested by NHN and Kolon in 2016. VOLT’s innovative last-mile delivery system, which allows you to send goods quickly and inexpensively with just a few touches, will open up a new paradigm in the marketplace and make your life more enriching.
What inspired you to attend it?
I was invited by the chairperson of Cube Intelligence as a recommendation. Cube Intelligence, a security platform for autonomous car based on blockchain technology, participated in this event, the chairman received many inspirations as well as an opportunity to promote the business model to many people. I also expect that promoting our business model, meeting potential partners, and getting inspiration in Dubai.
How can people find out more about what you are working on?
We are making a web page and see it at www.volttech.io. Prior developments have been posted on www.quickquick.co.kr.
Anything else you’d like to add / we should have asked?
After 2018, the delivery market will be largely divided. I think the future delivery market will be divided into a centralized model of Amazon and a decentralized model of ours. While conventional hub-spoke methods may be advantageous in areas with low population density and long distance to move, volt models are much more advantageous for the same-day or real-time delivery in cities or high density areas.