BlockShipping - A Globally Shared Container Platform

Blockshipping is the world's first freight container registry platform allowing all members in the shipping industry to perform a wide range of transactions. The GSCP platform will enable a savings potential for the global container industry of at least USD 5.7bn per year and could reduce the global annual CO2 emission by at least 4.6 million tons. Offering a complete blockchain based container asset registry is the main purpose of the GSCP platform and by that, the entire global inventory of containers will be registered along with the actual location of each and every container across the globe.

What Problem Does Blockshipping Solve?

There is a multitude of deficiencies within the sea trading industry. The container shipping industry takes over 60% of the global seaborne trade. However, this industry has multiple deficiencies such as security threats, low rates, more environmental regulations, and overcapacity.

How does Blockshipping work?

The GSCP platform will be of use to a variety of stakeholders in the industry which include carriers, beneficial cargo owners (BCOs), and terminal operators. The blockchain is basically a shared ledger where all data is transparent and decentralized. In terms of container inventories and financial settlements, this model is applied to Blockshipping. By doing so, companies will be able to track containers down in real-time and as smart contracts are used, payments and transactions are automatically executed once the terms of a trade are completed.

An example of a real-world use case of smart contracts is that they allow companies to automatically pay shipping companies only when they receive their products in time and if the delivery meets the pre-defined terms of the smart contract.

Reducing or completely removing the inefficiencies in handling empty containers which happen due to the lack of a trusted platform is another important aspect that Blockshipping. Even if there are platforms to address the problem, the act of re-positioning containers is an extremely time-consuming and expensive task when you take in the size and weight of these containers. To make things worse, containers are empty for more than half of its lifetime which makes empty container re-positioning unworthy for many carriers because of a large amount of money wasted on it which could be re-allocated to other resources. But with use of Blockshipping, it will integrate tried-and-tested solutions to make the process of handling empty containers much more effective via the grey box and street-turn techniques. These two techniques have been proven theoretically and in practice as well to overcome the negatives of handling empty containers and thus, save carriers tons of money.

Advantages of Block shipping GCSP Platform

✍️ To the tune of nearly 5.7 billion USD every year, Blockshipping will lead to savings in the container industry at the global level.
✍️ Blockshipping is expected to bring down the global carbon dioxide release by nearly 4.6 million tons per year.
✍️ By digitalization of the shipping registry and introducing real-time position of every single cargo container ship across the globe, the ICO is expected to completely revolutionize the shipping industry.

BlockShipping Token Sale

     💎 Token sale duration: 14th May 2018 – 14th June 2018
     💎 Total supply of CCC tokes: 50 million
     💎 Tokens are being sold during the ICO: 42.5 million
     💎 Price of token: $0.62 USD

70% tokens of the total supply are going for public sale, 10% for the pre-sale, 10% will be allotted to advisors, media, and partners, 10% will be reserved for the founders, and 5% to ICO bonus.

There are two different types of tokens (coins) on the Blockshipping platform, those are:

  1. CPT or Internal Utility Token: Container Platform Token
  2. CCC or Container Crypto Coin, External Revenue Sharing Token

CPT tokens will be used for the settlement of transactions between users of this shipping platform. A portion of earned revenue from every transaction will go to a revenue share pool and then passed onto CCC token owners. These tokens are based on the Ethereum blockchain. Value of CPT token will be $1 initially.

Conclusion

Blockshipping’s ICO presents a neat value proposition that targets a specific task, the registration & real-time tracking of all shipping containers on a blockchain ledger. It is an interesting enterprise, boosted by the fact that it is the first Nordic ICO constructed under the ICO 2.0 Framework. Blockshipping also has a respectable presence on social media, which will make it easy for the company to spread news and achievements. Overall, Blockshipping presents a solid project, one that deserves attention from investors.