Volt (ACDC) is a last-mile transportation and logistics platform that seeks to permit centralized platforms like Uber to be built in a decentralized manner and enable direct peer-to-peer delivery. According to the website, the platform seeks to provide a decentralized alternative for delivery services with reduced operating costs and delays. However, the platform's peer-to-peer blockchain-based model aims to eliminate brokerage fees by lowering direct costs to messengers and customers to less than 5% or even hopes to eliminate the fees completely.
According to the whitepaper, the core concepts of Volt are decentralization, transparency, and security. The platform aims to eliminate the time and technical constraints to permit anyone and everyone to use the system, enabling a larger pool of messengers, including part-timers and retirees. Additionally, Volt's core business aims to leverage Big Data technology that automates the system and ensures a more user-friendly service. Furthermore, the essential feature of the platform aims to be "Same-Day Delivery," which shortens delivery time to 1–5 hours from the 1–3 days in the existing online shopping mall. Volt has a Hub & Spoke system that aims to collect all items to be shipped, classify, and deliver them to their destination.
Moreover, the existing delivery systems are first-generation and second-generation systems. The second-generation peer-to-peer platform such as Uber increases its cost by 25% because of a centralized server. Volt's third-generation peer-to-peer platform utilizes blockchain's decentralized system to seek to decrease the price by 25%. Further, Volt seeks to provide transparency to the customers by displaying all expenses and fees charged. The platform for messenger gives various fields, including price, area, and available time of preference that upload to the smart contract. A smart contract is defined as an automated contract with the term of the agreement between traders being directly written into lines of code. The messengers can aim to choose their delivery radius, meaning they can use cheaper means of transportation.
However, the customers need Volt Coin to use the platform's services. A customer seeks to purchase 100 coins for the delivery service that costs 100 coins. The customer pays 100 coins to Volt, and Volt corresponds the request to the messenger. After completing the service, Volt transfers 95 coins to the messenger.
