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Triwer Sets ICO For Blockchain-based Parcel Delivery System

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Norway-based Triwer is set to launch an Initial Coin Offering (ICO) for its TRW tokens issued on the Ethereum platform to provide blockchain-based parcel delivery solution. The TRW token will be an integral facilitator of transactions within the Uber-like parcel delivery platform.

Triwer completed seed finance from private investors and private pre-sale, raising a total of 2.7 million euros. It has launched a crowdfunding campaign on June 1, 2018. The public token sale will remain open until June 30, 2018.

Triwer's parcel delivery platform looks to disrupt the European Courier Express and Parcel Market (CEPM) that is projected to reach a size of 72.9 billion euros by 2020.

Triwer is working on an app for the parcel shipment which would automatically plan the best delivery route. It will operate much the same way as Uber in the private taxi sector or AirbnB in short term property rentals. It will enable logistics companies and couriers to make better use of spare capacity.

The solution provided by Triwer will focus on alleviating restrictions and inefficiencies across the current parcel delivery supply chain by using customer relationship management (CRM), price comparison, blockchain distributed ledger technology (DLT), smart contracts, crowd delivery and community concepts.

Triwer will leverage the spare capacity of experienced and professional driver resources already operating in the market. The Ethereum blockchain will allow multiple parties to converge on a single protocol tied together through an irreversible smart contract for full transparency and decentralized security.

Upon confirmation of parcel receipt, the contract is concluded, completion recorded on the main blockchain, and payment distributed to each constituent of the contract.

Triwer currently operates in Norway and with trials coming soon in the United Kingdom, Germany and Spain. It fully expects to service the key European countries by the end of 2018.

It sets a target of fully integrating Artificial Intelligence (AI) as part of technology platform by 2021, and to incorporate drones, self-driving cars & robotics as part of its overall delivery services by 2023.

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