Morpheus.FAQ

What is Morpheus.Network?

Morpheus.Network was designed in consultation with some of the world’s largest shipping, customs & banking firms to create a full-service, global, automated, supply chain platform with an integrated, multi-flow payment system utilizing blockchain and other emerging technologies.

Who can use Morpheus.Network?

Morpheus.Network can be used by individuals and businesses of any size. Morpheus.Network supports transactions as simple as a small transfer within the platform, or as complicated as a smart contract driven international money transfer that requires currency conversions and exportation documentation. Merchants, manufacturers, and exporters can also register on the network for greater global exposure. Doing so imparts the added benefits of using Morpheus.Network over a traditional bank wire transfer such as: - Preferred conversion rates - Drastically reduced transaction fees - Improved network security - Easily distributed shipping documentation Also shipping companies, customs brokers and freight forwarders can also leverage the platform and technologies Morpheus.Network offers.

Who is on the Morpheus.Network team?

Our team possesses the expertise needed to make Morpheus.Network run as smoothly and safely as possible. This includes team members with significant experience in development (blockchain, IoT, ML, AI) project management, importing and exporting, shipping and compliance, web and blockchain security, banking platforms, tax accounting, regulations and legal. Please read more about our team here.

How does Morpheus.Network maintain data confidentiality?

We don’t believe any one company should own or control the blockchain supply chain. We believe in interoperability and partnerships over competition. One of the most exciting properties of Morpheus.Network is the ability to bring disparate ecosystems – and competitors – together. However, we are acutely aware of the privacy and confidentiality concerns that arise when multiple companies use a single blockchain to share sensitive data about trading partners, shipping patterns, and volumes as this data could become available to competitors through their participation in the network if improperly secured. Morpheus.Network addresses these concerns by building on the innovative zk-snark protocol. This enables the confirmation of every transaction of physical goods in the chain of custody. A connected record of provenance can be maintained without any of the parties upstream or downstream having access to information not related to that specific transaction. Document records that are encrypted and stored in off-chain containers can be accessed only by authorized participants. Furthermore, access to these documents can be segmented to ensure that individual participants are only given access to the files they need.  Document ownership and access can be anonymous if the relationship has been securely identified.

How is Morpheus.Network able to provide faster, cheaper, and more secure payment processing than the banking system?

In reality, a centralized banking system slows down transactions dramatically, imposing banking fees with non-optimal currency conversion rates. In contrast Morpheus.Network, through our various partnerships, will allow rapid payment and conversion of funds at real world exchange rates using the power of the blockchain technology, and incorporating only a single Morpheus.Network fee of 1%. Funds can be deposited directly into a receiver’s bank account in their local currency in over 200 countries through the Platform’s integration with SWIFT.

How is “AI” being utilized to optimize a supply chain’s efficiency?

Artificial intelligence (AI) is utilized in a supply chain by gathering vast amounts of logistical data off of the blockchain. These findings allow container shipping ports to be planned and routed in advance and as necessary based on global traffic, port delays, weather as well as many other factors and sources of data. AI is also being used to prepare compliance documentation for an import, generated by Morpheus.Network, by more accurately estimating port arrival times.

If one supplier wanted to use Morpheus.Network, but his suppliers aren’t interested, then he has no incentive to start using it, right?

You can take advantage of the Morpheus.Network platform to automate your own company’s supply chain regardless of your supplier’s use of the platform. All the blockchain advantages also apply such as an immutable ledger of your company’s shipping info, creating a digital footprint of all your products or shipments, etc. With our multi-flow integrated payment system, you can send funds from whatever currency you use directly into the bank account of your supplier. All the benefits of the platform will incentivize your suppliers to automate their own supply chain while saving money. We’re also working with some amazing customs brokers, freight forwarders and shipping companies to increase the rate of adoption. Ultimately suppliers and distributors would use Morpheus.Network to be a part of an automated global trade ecosystem.

Will shipments be tracked for progress when using Morpheus.Network for international trade?

Morpheus.Network is designed to track imports, exports and location of shipments in real-time facilitated by the blockchain. No matter which objective is being completed, Morpheus.Network will be able to use the smart contract to keep track of the whereabouts of any shipment anywhere in the world.

How does Morpheus.Network automate any supply chain?

Smart contract technology allows steps within a company's supply chain to be automated thus maximizing its efficiency. Automated objectives include contract generation (and storage and "permissioned" sharing), shipping and customs documentation generation (and storage and "permissioned" sharing), automated real-rate currency conversion, international payments , as well as layering in other technologies (tracking systems, ERP systems, bar code scans) to automate virtually any supply chain!

Where are you located?

The Morpheus executive team and developers are based primarily in Canada, Taiwan and India with the company registered in Seychelles. Our team and advisors are distributed around the globe in countries including United States, Russia, Japan, Philippines, Singapore and Belarus.

Do I need to use Morpheus.Network to receive payment from, or send payment to, a seller or buyer who is already using the network?

We recommend using Morpheus.Network for all the steps of your transaction and smart contract. We provide the highest level of security using buyer’s local fiat currency to be deposited into the seller’s bank account to over 1600 banks worldwide with our SWIFT integration. Each part of the transaction can be segregated (e.g. using only the payment processing, or the digitization of documents, aspects of the network) allowing Morpheus.Network to accept or send payments from, or to, any crypto wallet or directly into a bank account based on the smart contract criteria. In addition, other blockchain technologies can also be implemented into a smart contract as their own objective. This allows tremendous versatility when using Morpheus.Network.

How does Morpheus.Network’s rating/claims system work?

Whenever a transaction is completed, the exporter (or seller) and the importer (or buyer) will automatically leave feedback based on the smart contract details. The length of time of manufacturing by an exporter or any delays completion of any of the smart contract objectives will all be recorded on the blockchain in the dated details of any particular transaction. This info will be added permanently to the blockchain and will refer back to the individual seller or buyer involved and to the specific transaction the rating refers to. Thus, the rating system cannot be influenced by any factors aside from statistics of a completed smart contract. Furthermore, since Morpheus.Network is not a sales marketplace in itself, no matter if the seller and buyer interact using Alibaba, Amazon, eBay, Chinaexporter.com or directly without an online marketplace, rating system remains with the Morpheus.Network client based on the actual payment and full smart contract details. All the ratings will be encrypted on the blockchain to the highest level of security for privacy reasons, but fully available to Morpheus.Network perspective buyers and sellers.

How does Morpheus.Network digitize original documentation?

Using the power of blockchain technology, shipping documentation (bill of lading, commercial invoices, packing lists, insurance documents, etc.) will be digitized and shared securely and conveniently between the exporter, the receiving importer and any freight forwarders and customs brokers who have been given access in the permission settings. The layering of IPFS, a blockchain data storage technology, is where any original documentation with specific notation or markings will be stored and accessed through a corresponding encrypted hash on the Morpheus.Network blockchain as a part of a smart contract. These digital documents will all link to the original work contract and payment. Once a document is added to the blockchain, it cannot be altered, which is the key component in digitizing original documents, revolutionizing the import/export industry. No more courier services required to send documents around the world. No more delays due to late or lost documentation. This is a major disruptive technology in the import and export industry.

What if I’m new to importing or exporting?

Morpheus.Network aims to make importing and exporting effortless from your very first transaction. We offer full templated shipping and customs documentation. Your smart contract transaction will be arranged creating your company’s own templated documentation. These templates will be used for all future shipments in that same lane, with the variable being the specific container/bill of lading numbers pertaining to the shipment at hand. All this information will be permanently and immutably stored on the blockchain and hashed in Morpheus.Network. Tutorials can be arranged in any language. 99.9% of your time dealing with a new supplier using Morpheus.Network will be taken up arranging your first smart contract for your supply chain. We can assist in setting up the shipping and customs documentation as well as providing you local customs brokers and shipping agents who can use Morpheus.Network with the permission settings you establish. Using the power of smart contracts, all your transactions, in any currency, to anywhere in the world, will be AUTOMATED with the completion of your smart contract objectives. Complex importing and exporting made effortless.

Why is global supply chain an ideal application for our blockchain platform?

The World Bank has defined supply chain inefficiencies as the #1 world problem to solve in order to stimulate economic growth. To be successful in global trade, every firm needs to run efficiently. Smart contract technology allows steps within a company’s supply chain to be automated thus maximizing its efficiency. To complete a transaction properly, the objectives within a smart contract need to be triggered with precise accuracy when it comes to international customs compliance and in a timely fashion. Morpheus Network allows globally transacting companies to take advantage of a smart contract structure for their supply chain. Additionally, the real rate currency conversions and automated international payments further enables the Morpheus Network to automate virtually any supply chain!