Thanks for posting the TMT report but it actually highlites one of Yojees problems, the scalability of smart contracts. I personally think this is what is holding yojee back. Let me show you what I mean. Below I've listed a few extracts from TMT'sreport
Transaction costs on Ethereum set to drop significantly While Ethereum’s transaction capacity is currently limited to 16 transactions per second, an upcoming scaling solution called Plasma is expected to increase this transaction capacity to approximately 25,000 per second. Plasma is expected to become operational in June 2018 and will allow for companies such as YOJ to deploy their application layers on an enterprise level scale. 2 Yojee Limited Additionally, transaction costs on Ethereum are expected to drop from a range of US$ 0.20 - US$ 0.40 currently to just a few cents once Plasma is operational, which makes it much more suited to a high-volume transaction environment such as the Logistics industry.
Smart contracts facilitate automated contract execution A large number of these aspects can be incorporated into one application using Smart contracts, which are essentially computer protocols that facilitate, verify or enforce the performance of contracts. In other words, various elements of a specific logistics contract can be programmed into a digital, smart contract and are executed automatically upon satisfaction of certain conditions. For instance, if a sea freight container that has travelled from port A clears customs in port B, a smart contract automatically executes and makes payment from recipient C to sender D, all without the need for human verification. Such smart contracts are an integral part of YOJ’s Blockchain for Logistics.
Note that last sentence - Smart contracts are an integral part of YOJ's blockchain logistics.
I have sent several emails to Yojee asking them to explain where they're up to with Ethereum and what's going on with the plasma technology but never get a reply. Hopefully Ethereum are able to enable their plasma technology so that they can scale up their smart contracts but if they can't do it soon I think they will be overtaken by others. What I've been wondering is - are Yojee are considering using another provider. Personally I think this is the big hold up with Yojees tech and their scalability. Hopefully the company update us on this soon,
Cheers
Rhama
YOJ Price at posting:
5.1¢ Sentiment: None Disclosure: Held
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