Global Shipment Industry Enters the Blockchain Technology

defenestration (43)in #bitcoin • 7 years ago (edited)

The shipping industry is one of the oldest industry in this world and still plays a major role in our modern society. In 2017, the container shipping industry transported all kinds of goods at total value of around $12 trillion. But this hugely valuable industry has been troubled for years by challenges like overcapacity, low freight rates, security threats and increasing environmental regulations. Today the industry has more than 27 million freight containers around world. The major problem here is that it has no central registry for all these containers. But there are still plenty of oppurtunities to make this market more efficient.

A new project called Blockshipping offers a solution to the container shipping industry with the help of blockchain and modern sensor technology. Solving the problem by building a database for the all containers. Where every containers consist of information and real-time locations around the globe. The project has a potential to save the industry around $5.7 billion every year and reduce the global CO2 emission by 4.5 tons every year.

Benefits

1. Industry - The project intends to reduce the potential cost and increase effieciency with the help of Blockshipping and modern sensor technology;

All empty containers can now be tracked before shipment.
All carriers globally start sharing containers across the different companies.
Street-turn method where all empty containers directly moved to trusted shippers.
Smart Port - is a connected community where all logistics companies collaborate within across networks achieving higher operations efficiency and service levels.
Reducing CO2 emmisions.

2. Investors - Revenue Sharing Model

The GSCP platform issues two tokens: The internal Container Platform Token (CPT) and the external dividend token Container Crypto Coin (or CCC for short) issued on the global Ethereum blockchain for the ICO. The internal CPT token will be used by the industry players when utilising the platform for clearing and settlement of transactions between them. These transactions will relate to a variety of services and fees like 'capital purchase', 'container exchange fees', ';terminal and depot handling costs', and 'fees collected by carriers.'

A percentage of the revenue generated from the transaction fees on the GSCP platform will go to a Revenue Share Pool. Through an innovative dividend model, the funds held in the Revenue Share Pool will be passed on to the owners of the CCC tokens in a way that rewards both short-term and long-term token owners.

Conclusion

Blockshipping is taking a step forward to the container shipping industry by introducing them to blockchain and modern sensor technology. Reducing the cost and increasing the efficiency.

Connect with Blockshipping