Track the freight containers in real-time using blockchain
Have you heard about the shipping/Freight containers? You might have seen a big box like container attached to a truck either on the roads or on shipping harbors. Even you can see at the runway of airports also. Freight containers are not something new as they have a history of more than 5 decades. The first intermodal freight container was invented in the 1950s by an American named Malcolm Purcell McLean. Since that period, the number of freight containers has increased drastically as almost any kind of goods can be easily transported not only from one country to other but also between two continents.There is no doubt that the shipping containers have created a revolution in the transportation of goods.
Do you know the net worth of container shipping industry? The total revenue of that industry was close to 12 trillion USD in 2017. Because almost 60% of the world’s seaborne trade depends on the shipping containers. Even though it is a valuable industry, currently there is no registry for more than 27 million freight containers in the world. No one knows any information regarding the ownership, transit status, current location and other real-time information related to these containers. Simply, these containers are not traceable. Why? Because is not able to adaptto the advancement in technologies as early as possible.
That’s why the shipping industry is facing a lot of challenges as given below:
- No option to track the containers in Real-time
- Complicated paperwork to buy/lease/sell shipping containers
- Empty space in the containers are not utilized properly
- Customer service offered to shippers is not up to the standard
- IT systems and processes have become outdated/obsolete
- The slow process of fees collection
- Security concerns
- Failure to adapt to environment regulations
Pretty big list? Yes. Even though the shipping industry is facing the above problems for so many years, no concrete steps have been taken to solve these issues. Besides that, shipping containers are also responsible for creating huge carbon emissions which is the main reason for global warming on the Earth.
Luckily, Blockshipping, a Denmark based company have come to the rescue for the shipping industry by proposing an innovative solution using the blockchain technology. Global Shared Container Platform (GSCP) aims to improve the global shipping industry by improving its overall processes so that it can be more efficient. For that, GSCP will be creating a global registry which will contain the list of all the containers in the world along with their real-time locations. The platform will also manage the payments between the stakeholders related to sharing and haulage of containers.
GSCP aims to provide the following benefits to the shipping industry:
- Provide real-time tracking of the containers
- Reduce the global CO2 emissions
- Effective utilization of the space in freight containers
- Maintain the ownership details of the containers
- Update the IT systems and processes to improve the processing speed of transactions
To learn more information about the GSCP platform,check out https://www.blockshipping.io/.
Blockshipping is one of several companies seeking to use blockchain to optimize efficiency in the global shipping industry. It’s the world’s first blockchain-based global shipping container platform. Blockshipping has already received investments from private investors and the Danish Maritime Fund. It seems really awesome project.
I must say Global Shared Container Platform will be improving the procurement of the Freight container trucks by far. A system like this will be able to put a stop to the dirty activities many of these trucks get into, like smuggling, carrying illegal products.
This is surely a time to get rid of the emissions from these trucks too. It really suffocates you when driving behind it that it's a must to close the windows and bear with the annoying air conditioner.
Never heard of that but I believe it will be really easy getting freight for containers and even goods using blockchain, it will be really fast enough when it comes to transaction between buyer and sellers. This update is really cool enough if things could work out as you have said it will be easy transporting containers from one continent to another and the freight will be easy getting to people involved.
This is a great initiative for the shipping industry, the application of blockchain technology will also help for transparent and global registry and transactions.
Kudos to Blockshipping for this
This is a great project that will certainly change the shipping industry.
This project is successful will not only save time and unnecessary expenses on goods and cargos but will also create a lot of new jobs.
Great initiative @danizaharie
The purpose of GSCP platform is to complete Blockchain enabled container assets registry where the full global inventory of containers are registered along with real-time locations of every single container around the world. Their goal is to achieve a wide market coverage.
It is beneficial for container carriers, beneficial cargo owners (BCO), terminal operators, port authorities, leasing companies, trucking companies etc. to achieve cost savings based on real-time information exchange.
Looking nice brother
This is great news, blockchain stepping into the shipping industry. This will definitely move things forward in the shipping industry and activities will be transparent to a large extent. Honestly, blockchain will take over the world.
I'm sorry but how will blockchain help reduce CO2 emissions? #blockchain isn't some sort of bio fuel that is eco friendly.
Also, please find a link below that helps track containers of 128 shipping companies worldwide
https://touch.track-trace.com/container
What are you even talking about? Did you think twice before writing this post?
This project is successful will not only save time and unnecessary expenses on goods and cargos but will also create a lot of new jobs.