Artisan Business Group hosted the US China Blockchain and Digital Currency Conference in Los Angeles on Wednesday, highlighting a slate of upcoming blockchain projects and panels. Ralph Liu spoke on behalf of MuleChain, a blockchain designed to disrupt Amazon.
The podcast explains how the MuleChain service works with an example, and it explains our corporate mission.
Don't Mail It, Mule It!
Invest in MuleChain
Picture this: your daughter Amanda is spending the fall semester abroad in London. As the weather begins to get colder, she realizes she forgot her favorite winter leather jacket back in the States. She has to have that jacket that she likes so much and wears it every year.
But, Tom is visiting his girlfriend for the weekend in London. He’s not taking much with him and has space in his carry-on luggage. This is a perfect moment for MuleChain.
The MuleChain app can connect you with Tom. You post that you’re willing to spend $100 to get the jacket to London. Tom logs into the app and decides that he’d be willing to take your daughter's jacket on the plane with him for that price. He accepts the job, picks up the package, and delivers it to a Pack Station in London. Your daughter can then pick up the jacket at her convenience.
This is MuleChain working at its finest. We aim to introduce a “Convenience Assistance Service” concept to help millions participate in the global sharing economy by redefining global peer-to-peer logistics. We are using blockchain technology to create a decentralized network where users can create requests for both local, inter-city, and cross-border delivery services. Users can also perform temporary storage and delivery functions for requests on the network, earning cryptocurrency as payments for providing services. Most importantly, we believe we are creating new job opportunities around the world.
MuleChain is positioned in the right place at the right time: the crossroads of decentralized blockchain emergence and the recent establishment of successful peer-to-peer on-demand models. We want your investment in order to make this elegant technological solution to real-world problems a reality.
CEO & Founder of MuleChain, Inc.
Investment: Preferred Stock & MuleChain Tokens
$.01/share of Preferred Stock│When you invest, you are betting the company’s future equity value will exceed $11M.
MuleChain Utility Tokens
The Offering includes 10 MuleChain Utility Tokens, ("MCX") tokens per $1.00 invested in this Regulation Crowdfunding Offering.
*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.
See Offering Summary below for additional terms.
For details on the bonus, please see the Offering Summary below.
Description: MCX will be used on the MuleChain platform as the global medium of exchange by the MuleChain members, and will be issued on the NEM Blockchain. For example, the fees charged by the Mules and Pack Station Owners will be paid by the Requesters in the form of MCX tokens.
MCX will also perform the function as a risk mitigation tool. For example, it could be used as the collateral when a Mule takes on a delivery assignment of an item. The MCX tokens' equivalent to the financial value of the item to be delivered will be held automatically in the escrow by the smart contract from the Mule's account. If the Mule runs away with the item, the Requester will be paid the MCX tokens held in escrow to cover the Requester's potential financial loss. It can also similarly protect the Requesters or Receivers when an item being delivered is in the care of the temporary warehouse storage facility operated by the Pack Station Owners.
The right to tokens is contingent upon the successful development of such Tokens and to the extent applicable, the blockchain upon which they function. There is no guarantee that successful development will ever occur.
The idea for MuleChain originated while at a Christmas party last December. As someone with a background in banking and a few P2P sharing platform tech ventures before, I had been fascinated with blockchain, decentralization and the various potential applications in the new sharing economy, and I found myself explaining the concept of how new technology such as blockchain could disrupt various existing industries to someone I met at the party who was unfamiliar with these topics. While explaining these concepts in simple terms to a person in the logistics industry, the idea for disrupting the delivery logistics industry popped into my head - and it truly is a simple concept. The idea of MuleChain was formed that night while I was driving home.
The Mules service is kind of like an Uber for goods and freight, if you will, but to work for Uber, one needs to own a car. To work for himself/herself as a mule on the MuleChain platform, one only needs a subway token, a train pass, or an airline ticket to compete in price with UPS, FedEx or DHL.
There are also opportunities for independent individuals who can use their under-utilized living space to set up on the MuleChain platform to act as a Pack Station to earn income for themselves. The idea of a Pack Station came about some time in March as the need for drop-off and pick-up centers became apparent for the successful implementation of the Mule service.
The pack station business is more like an Airbnb for packages and parcels, whereas to work for Airbnb, one needs to own an apartment or a house. To work for himself/herself as a pack station owner on the MuleChain platform, one only needs a rented apartment or a rented house to compete in price for offering delivery services with those centralized corporate giants.
There is a transformative power of this new service to our society. Think about how many new jobs could be created globally, not just for travelers but also for those under-privileged or people with disabilities and senior citizens. They could all become pack station owners and switch on their part-time voluntary service occasionally to generate some income for themselves while at home to let requesters and Mules drop off and pick-up only those small parcels, sentimental trinkets, or documents out of their approved choices.
While Mules may be Republicans, the pack stations owners are most likely Democrats. We are glad that the MuleChain business might be able to appease both of them.
There are three essential parts of the business. The Mules could be 1) non-professional occasional travelers working as the cross-border and inter-city Mules, 2) local professionals conducting last mile e-commerce delivery to households, or 3) the usual local messengers for documents, couriers for parcels, or even food delivery moped drivers in local cities and neighborhood communities. In the beginning, we will focus on Part 1, i.e., the cross-border Mules business where we believe we currently have zero competition to build and season our technology platform before we move on to compete with existing businesses in Part 2 and Part 3. In terms of deployment, apart from the US and China where we will try to implement all three parts of the business, we have also set up over 10 other peripheral cities in countries around the world with Regional Directors to focus only on Part 1, the cross-border Mules business. With Regional Directors developing the local business plans in each country, will be able to execute these business plans immediately after the successful launch of our platform.
Our corporate mission is to reach out to the underprivileged vast majority of the world’s population to encourage them to use Mules and pack stations as a day to day service, especially in many developing countries in South America, Africa, and Southeast Asia. We may have a chance to offer MuleChain as an improved alternative to the many current national postal package delivery services in those countries via this new decentralized peer-to-peer trust-less system enabled by the blockchain technology.
Our goal is to be able to create millions of new jobs in the new gig economy while we bring these exciting new benefits to consumers across the world.
Not only do we see this as a way of disrupting the shipping industry, we believe this is a tool that will create millions of new jobs. Ideally, anyone can earn money as a Mule or as a Pack Station Owner, with no lawyer-drafted contracts, no boss, and no schedule: you work whenever you want, however often you want. You don’t even need to own a car to deliver packages or own a house to let other people’s package stay for a while. Anybody with public transportation or rented space can earn extra income easily on the MuleChain platform.
The fact that anyone can make money with MuleChain has become our mission. We have assembled a top notch execution team who are driven to make this a reality within the quickest time possible. I came up with the idea for MuleChain because I believe in a smarter, more efficient world. I also believe in giving everyone an opportunity to earn money in the shared economy.
How It Works - Development Stage
The MuleChain Routes mobile app is a work-in-progress and the MuleChain tech team is working on a daily basis to improve it. We do not have a working model at the moment. The final launched product may also appear quite differently from the screen mock-ups shown. We have completed and released the mobile app prototype with MuleChain charter member signup and static data clickable demo which covers the majority of the screens and flows. The Android demo app is currently downloadable from Google Play Store and the Apple iOS app has been also been approved on TestFlight for beta test reviews. The NEM blockchain integration is also an on-going work-in-progress. At the moment nothing demonstrable on the back-end has been developed yet.
MuleChain features advanced P2P logistics built on the NEM blockchain. Conceived in late 2017, MuleChain was born from a vision to finally bring the peer-to-peer gig-economy model to the shipping, delivery, and warehouse industry.
The success of this model has been demonstrated in other industries by the likes of eBay, Fiverr, Uber, and AirBnb. With MuleChain, normal people (Mules) can make money by delivering packages for Requesters. Much like how Uber drivers get paid to deliver people to their destination, Mules will be paid to deliver packages and parcels. Here's how it works:
Requesters: The requester gets on the MuleChain app and sets a price they are willing to pay to have a Mule deliver their item to a chosen destination. If the price is high enough, a Mule will agree to the price and pick up the item from either the Requester directly or from a Pack Station.
Pack Station Owners: Pack Station Owners are compensated for being a drop-off zone and providing temporary storage for packages that are en route to their destination. Requesters can simply drop off their parcel at a Pack Station instead of scheduling a time to meet with a Mule directly.
Mules (and Mule Train Operators): Mules make money by delivering parcels they deem to be worthwhile. The MuleChain mobile app (called MuleChain Routes) helps facilitate the easiest way to find packages to deliver by matching your pre-chosen route (maybe your daily commute, a vacation, or day trip) to packages that share the same destination.
Regional Directors: There will also be many Regional Directors in cities around the world to coordinate the MuleChain services and to recruit Mules and Pack Station Owners as well as to hold annual MuleChain Congress conventions to educate people on how to make extra income on the MuleChain platform or earn a living in the MuleChain ecosystem. We envision as the system platform matures, P2P will extend beyond C2C and move into B2C and B2B delivery services arena. There will be many small businesses and perhaps even big corporations to set up shops on the MuleChain platform.
Collateral Escrow & Insurance: What if someone steals my parcel? Don't worry, to prevent the potential fraud risk, Mules are required to keep MCX tokens equivalent to the value of your item as collateral in a locked escrow account that is managed by a smart contract. If your package is stolen or is not delivered, you will be reimbursed for the value of your item. Pack Station Owners will have to carry insurance policies to cover the potential theft and damage risks to your parcels as well. Additionally, a part of the 3% fee on transactions will go towards funding the MuleChain member disputes resolution centers, which will operate on established resolution principles similar to those of eBay, Amazon, PayPal, FedEX, etc. although these disputes will primarily be between members on the platform.
MuleChain Routes (MR): The mobile app, dubbed MuleChain Routes to distinguish it from the MuleChain platform itself, is developed by MuleChain, Inc. for members on the MuleChain platform to conduct day-to-day transactions. Each member has a cryptocurrency wallet and access to a secure multi-lingual messaging communication capability.
Blockchain: Where does the blockchain come in? MuleChain utilizes the NEM blockchain to facilitate all transactions in a decentralized manner with smart contracts. This streamlines transactions and greatly reduces costs, allowing all but 3% of each transaction to go to the users of MuleChain! Compare this to a much higher commission or fee that service such as Uber and Lyft would typically take.
The Sharing Economy
Airbnb was one of the pioneers of the modern sharing economy almost 10 years ago. It has grown into a massive multi-billion dollar enterprise that is utilized every single day (Source: Yahoo Finance). While the sharing economy is booming, with new ideas popping up every day, we have only started to scratch the surface of its potential. We believe there are still trillions of dollars of assets that are untapped and our mission for a more sustainable and efficient society remains waiting.
The root of the sharing economy is in eliminating waste. Take Airbnb for example. If you aren’t using a property, a guest house, even a couch, you can monetize that otherwise wasted space. This eliminates the need for hotels and other such lodgings. Consumers can pay less while hosts can make money off of their extra space.
When it comes to logistics and delivery, think about how much global energy consumption could be saved collectively through this new "Convenience Assistance Service" concept made available by MuleChain.
This decentralized P2P platform is a more efficient and sustainable model that eliminates the need for big, inefficient corporate structures. That is the business model that MuleChain embraces. That extra space in your carry on luggage or the trunk of your car can be used for delivering packages. And because you are already heading to the destination anyway, there are no additional resources used to get the package to the destination. The sharing economy has already taken over and the trend is only going to continue. This is exactly how this new "Anyway" concept of “Convenience Assistance Service” will come into play.
Collectively, we human beings will finally get to work much more efficiently, conserving much more energy while delivering the same result in a cheaper, faster, and better way. Just imagine how much less fossil fuel will be burnt by delivering a package through somebody who is already planning to go to the same destination.
MuleChain maintains a close working relationship with NEM Foundation due to its tried and true developer and user feedback reputation. We treat their successes as our success and vice versa. MuleChain chose to build on the NEM framework for the following simple reasons:
Scalability: The MuleChain user experience continually improves as more people participate. We feel that NEM provides the best long-term scalability solutions for what MuleChain is going to become as there is already a relatively large NEM user base and XEM holders.
NEM provides excellent developer support and simplicity: We don't have to worry about our project getting stuck in the trenches of development. NEM is designed to interact with commonly used programming languages. This feature greatly reduces development time, costs, and special esoteric technical skill set requirements.
We spent months of time and lots of resources to gain the support of global NEM user communities for $800,000 in reimbursement funding in the past. Right before voting, the NEM Community Fund (NCF) program was abruptly unilaterally cancelled and changed by NCF into a new NEM Community VC fund which we would not consider participating in unless the NCF reverts back to the technical grant program in the future. We will, however, continue to stay close to the NEM members of various local NEM communities in many countries around the world. Members in these NEM local communities globally would most likely become a ready pool of immediate potential users of our MuleChain Routes mobile app in the near future since many of them are already quite familiar with the MuleChain NCF project proposal that we had been spending time educating them on during the grant proposal campaign.
We will keep the options open in the long run for adopting other alternative public blockchains with newer and more superior technical features and the possibility to build MuleChain's own native blockchain.
Sample Use Case Study Videos
Invest In MuleChain
In our opinion, the shipping industry is one that hasn’t changed in a long time, and it is overdue for a face-lift. We are still trying to use the same inefficient models that we’ve been using for decades in a world that has changed drastically.
We have a grand vision that can change how the entire world thinks about shipping. Our idea is a simple one that can be used everywhere around the globe and back again. We are also a service that creates jobs - we believe politicians will love having MuleChain in their city because MuleChain will inject money into their local economy by boosting incomes of local residents. We think MuleChain is truly a win-win for the health of our society and its people. Now, with your investment, we will be able to make MuleChain a part of our everyday lives. We look forward to you joining us as we spread our services around the globe and change the way we think about shipping and temporary warehousing!
Take a refresher look at MuleChain CEO's video interviews to understand the business model better.