Lumberscout seeks to use decentralized technologies to disrupt the forest products sector by providing a safe platform for industrial producers, industrial consumers, and industrial lenders to conduct business.
What Is LumberScout?
Lumberscout’s implementation of distributed ledgers, commodity certifications, supply chain verification, and efficient sales architecture will fundamentally change how users finance, trade, and certify forest products. By harnessing disruptive technologies and establishing verification and governance frameworks, Lumberscout makes trustless, meritocratic consensus mechanisms possible on a global scale.
The first steps towards these ends started with the creation of the Lumberscout Smartphone app. Integrations of the functionalities outlined in their white paper will be integrated into subsequent version releases.
LumberScout TLY TALLY Token
Tally is a utility token for the forest products industry. The Initial Tally Offering is currently ongoing and you and join to be part of this interesting community. The following are some of its key features:
- Programmable cross-border purchasing contracts
- Supply chain verification
- Automated, biddable-inventory management
- Social sales projection
- Crypto lending access
- Environmental certification
The Lumber Market Size
According to 2016 statistics, forest products account for five percent of Gross World Product or 4 trillion USD. To put that in perspective, if you spent one USD per second, it would take you approximately 126,836 years to reach 4 trillion. According to U.N. statistics, 33% of the world population currently depends on Forest Products for sustenance.
Despite the importance of Forest Products to the global economy, novelties like “ride-sharing” services or “crypto-kitties” have distracted many to the fact that recent technological breakthroughs can entirely revolutionize established commodity-based industries. Lumberscout will redefine the Forest Products sector.
How Lumber Will Disrupt The Economy
Disruptive technologies redefine markets. Blockchain-distributed ledgers have multiple use cases that can disrupt the Forest Products sector. Cash-Against-Documents (CAD) transactions are just one standard industry practice that the distributed ledgers will make obsolete. Buying, selling, financing, transportation, insurance, and certification of Forest Products are other important areas for change.
Instead of relying on local banks, borrowers will have the possibility to obtain loans from the emergent crypto lending market and can finalize purchasing contracts in crypto-currencies. Lumberscout will be the catalyst that empowers users to conduct business using mobile handheld devices at any time, from anywhere in the world.
Tokenization Of Forest Products
As the crypto-economy grows, so does the demand for the tokenization of commodities. The blockchain, much like containerized shipping, has redefined global trade. However, the practical aspects of verification at the beginning stages of the distributed ledger process require close attention and new management infrastructure. Sending containers around the world is a logistic feat, but without verifying the contents, it would be difficult to establish value.
Lumberscout plans to implement, verify, and track procedures throughout the harvesting, production, transportation, and manufacturing stages. By reliably tokenizing commodities, Lumberscout will connect the crypto economy with the Market of Things (MoT).
Boosting The Liquidity Of The Forest Products Sector
The Forest Products industry is typically cash-strapped to the point that there is no extra capital to make needed investments in machinery, automation, or sustainability. Especially productions in developing nations that want to modernize and become responsible producers, access to funds and basic safety equipment are sorely lacking.
Small loans can mean the difference between crushing poverty and lives filled with stewardship and meaningful work. By facilitating reputation-based lending with decentralized credit ratings, consisting of data on trade performance and data feeds from service providers such as credit institutions and social media, Lumberscout will provide investors with the information they need. Moreover, services such as Bloom would be used to broadcast defaults to centralized credit scores.