What is Blockshipping Project?

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What is Blockshipping Project?

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. First and foremost, the purpose of the GSCP platform is to provide a complete blockchain enabled container asset registry (like a ship registry) where the full global inventory of containers (more than 27 million units3) are registered along with real-time locations of every single container around the world.

Blockshipping is creating the GSCP platform, which will be both the first real-time registry of the world's approximately 27 million shipping containers and a joint platform for all players in the container shipping industry. The GSCP platform will be based on blockchain and modern sensor technology, and it has the potential to reduce costs for the global shipping industry to the tune of USD 5.7bn annually and reduce the global CO2 emission by more than 4.6 million tons every year. The GSCP ICO offers contributors a unique set of token features including the benefits of a Revenue Sharing Model as well as a Market Maker Fund that allows ICO contributors to sell their coins back to the platform at a floor price. The first ICO to be based on a new Danish legal framework called The ICO 2.0 Framework.

How does Blockshipping work?

Blockshipping is a Global Shared Container Platform or GSCP.

It’s a neutral, global platform designed to connect all participants in the container shipping industry, including carriers, ports, terminals, transport companies, and more.

Today, there are 27 million metal freight containers worldwide. Blockshipping wants to create the world’s first blockchain-based registry that allows the industry to keep track of all containers in real-time.

The GSCP platform will also allow industry participants to efficiently manage all types of transactions related to container handling.

Blockshipping will have two tokens, including the external revenue sharing token (CCC) and the internal utility token called the Container Platform Token, or CPT.

Platform design and prototyping is taking place throughout Q1 2018. The developers will also design the Blockshipping smart contracts and blockchain. By Q2 2018, the company hopes to implement the platform and iPaaS. A soft launch of the platform is expected for Q3 2018.

Blockshipping Technology

Blockshipping are proposing a new system — the Global Shared Container Platform (or GSCP for short) — and it will provide solutions to a myriad of problems, namely:

A Complete Registry — surprisingly, at the moment there is no registry or tracking system for the 27 million shipping containers around the world. So Blockshipping intend to create such a register, which will allow the locations of all the containers to be tracked using IoT technology.
Payment Platform — Blockshipping will povide a payment platform for all parties, allowing a much simpler process, reducing admin and costs.
Greybox Opportunity — at the moment, a lot of containers are left empty or half-empty, costing up to $5bn per year. Using Blockshipping’ strusted platform, companies will be able to match up opportunities where they can share containers or use empty ones.
Street Turn Opportunity — the term “street turn” means empty containers are moved from importers to exporters without an intermediate stop at a port or inland depot. Currently it is challenging to do this but with Blockshipping’s registry and tracking facilities, they plan to facilitate this more easily and save up to $750m per year.
Reduce Container Fleet —currently companies simply don’t know where a lot of their containers are due to a lack of tracking and therefore have oversupply issues. Blockshipping’s technology would allow a reduction of 15–20% in container numbers by using real-time tracking information.
Automated Processes — outdated businesses processes involve lots of paperwork and inefficiencies. Again Blockshipping’s approach would tackle these with automated technologies, providing considerable savings in the process.

So as you can see, they would provide multiple benefits to the shipping container industry and radically reduce costs and inefficiencies. If successful they could transform a huge market, which would be quite an achievement.

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 parties. This enables all parties to significantly reduce internal control/admin functions (costs).

Blockshipping TEAM

Blockshipping is led by a team of experienced experts from the container shipping industry. Key members of the team include Peter Ludvigsen (CEO and Founder), who has 38 years of experience in the shipping industry.

Other key members of the team include Christian Gyntelberg (COO), an IT management consultant with senior management experience in several shipping companies, and Jesper Vedelsby (CTO), a technical architect with 20 years of experience in shipping, airlines, and energy.

The company is based in Hørsholm, Denmark.

ICO Details

The public sale begins on 14th May 2018, with the pre-sale already underway. The key information for the ICO is as follows:

· Start date:14 May 2018

· End date: 14th June 2018

· Token: Container Crypto Coin (CCC)

· Platform: Ethereum ERC-20

· Price: Fixed at $0.62 per CCC throughout token sale

· Soft cap: n/a

· Hard cap: 40m tokens, $24.8m

· Currencies accepted: ETH, BTC

· Minimum investment: $100 equivalent