BLOCKSHIPPING: TECHNOLOGICAL SOLUTIONS IN SHIPPING INDUSTRY

At present, goods play an important role in the management and coordination of port operations as the movement of goods is an integral part of the entire supply chain.
The objectives thus become to create synergies as well as converging interest between the operations of port facility and shipper in order to guarantee reliability, continues service and a good productivity level.

Since the invention of container by Malcom Mclean in late 1950s, and the first usage for shipment in 1966, the mode of shipments of goods have changed drastically (Levinson, 2006). In addition, containerisation is applied to all modes of transport such as rail, marine vessel and road haulage.

The handling process as well as movement of goods have continuously improved, to the benefit of all parties.
The container shipping industry accounts for around 60% of all the world’s seaborne trade with a total value of approximately USD12 trillion in 2017.
There is a need for global shipping industry to increased in efficiency, improved processes and a fundamental digital transformation to ensure profitability in the future.

BLOCKCHAIN
Over the last couple of years, the blockchain technology is matured to such an extent that today it is no longer a risky experiment to base a solution like the GSCP platform on this technology.

On the contrary, the blockchain technology has never been tampered with, and it has proven to possess a set of qualities and functionalities, which appeal to an industry like the shipping industry and a solution like the GSCP platform.
With the purpose of obtaining an optimal combination of high scalability, undisputed security, maximum control, privacy & flexibility, and low transactions and energy costs, the GSCP platform will be built on a private (permissioned) blockchain.

Basing the GSCP solution on a private blockchain framework like Coco enables a wide range of industry players which do not necessarily trust each other to come together on the same platform and allowing them to exchange services and do fast and large scale transactions in a distributed, decentralised environment controlled collectively by all participating nodes.

No trust is needed, and the framework enables a combination of transparency, control and privacy that allow for all participants to gain benefits from using the services and features available on the GSCP platform.

These services and features fall into three main categories:

1. Establishment of the global container registry – thereby optimising greybox- and street-turn-strategies across the industry
   

2. Recording of change of ownership of containers and custodianship and thereby reducing losses for companies financing containers
   

3. Internal exchanges of services between users and payments transactions (clearing and settlement) based on an internal GSCP token

THE SMART SOLUTIONS
Blockshipping’s Global Shared Container Platform (GSCP) is designed to make key processes in the global handling of containers significantly more efficient and thereby solve some of the most important problems in the container shipping industry today.


The goal within three to four years is to achieve a 60% market coverage with 16 million container units in the GSCP blockchain registry.
In addition, the vision for the GSCP platform is to:

• Become the primary platform for managing operational payments clearing between stakeholders related to physical handling (interchange), haulage and sharing of containers.

• Become the shipping industry’s primary IOT platform for real-time tracking of containers enabling real-time visibility of containers to all stakeholders.

• Monetise data insights based on Machine Learning, IOT data, AI, and blockchain data.

THE TECHNOLOGY
Blockchain technology enables full transparency and a shared ledger of container inventories and financial settlements when work orders for intermodal transport are issued, and when containers are interchanged between carriers or street-turned between importers and exporters.

The blockchain-based GSCP platform will enable a wide range of industry stakeholders (Carriers, Beneficial Cargo Owners (BCOs), terminal operators, and transportation companies) to achieve cost savings and reduced container inventories based on real-time information exchange.

The technology offers real-time visibility and blockchain enabled smart contracts that automate processes and payments between partiesThis enables all parties to significantly reduce internal control/admin functions (costs). Shipping companies should take the advantage and the opportunity blockchain is offering to shipping industry to explore more in their business.

Important blockshipping ICO link
Website: https://www.blockshipping.io/
Whitepaper: https://www.blockshipping.io/wp-content/uploads/2018/02/Blockshipping_GSCP_ICO_White_Paper_public.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3502572
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My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2159948