Blockshipping – building the world’s first freight container registry through their Global Shared Container Platform (GSCP).
Container shipping may not be as popular as other industries that fuels our economy. But believe it or not they give a fair share on profits. It is said to have a value of USD 12 trillion – making it one of the hugely valuable industries we have.
However, the bigger the industry gets the bigger the challenges it faces. Today, the container shipping industry struggles in combating overcapacity, security threats, increasing environmental regulations and low rates. Thus, Blockshipping sees the need for a fundamental digital transformation to improve this industry’s efficiency on its processes – ensuring better profitability in the future.
And to resolve these issues that burden container shipping industry, Blockshipping created the GSCP. Let’s take a closer look on this new platform and see how it will make a difference to its community.
The Global Shared Container Platform (GSCP)
The main goal – to bring efficiency to the whole system of container handling by creating a blockchain-based container asset registry. This will enable container shipping companies to have a global registry of more than 27 million container units and precisely locate each container real-time.
And the team also sees that through incorporating the blockchain technology to GSCP, the platform will provide its community with full transparency, shared ledger of financial statements and inventories, and real-time exchange of information. Due to the platform’s ability to provide real-time data to all parties – this will bring cost savings benefits and efficiency in its process due to reduced container inventories.
With the GSCP platform in place, they have an ambitious business goal – they aim to cover 60% of the market along with 16 million container units to be in the GSCP blockchain registry in four years and become the primary container shipping and IOT platform.
And for the overview of the team’s strategic plan, here are the specific solutions that they aim to put in play:
- Greybox Opportunity – 3 to 5 billion dollars are wasted annually on empty and half-empty containers due to lack of trusted platform for deficit matching of containers. But through Blockshipping’s trusted platform this can be changed, wherein, carriers will have matching opportunities to share and maximize all available spaces.
- Simplified Payment System – blockchain-based smart contracts will automate payment processes between parties which will reduce admin costs.
- Reduced Carrier Haulage Ratios – currently, carriers are lost out on carrier haulage and other are left to profit on merchant haulage.
- Triangulation Opportunity – Blockshipping’s trusted platform will provide a neutral triangulation and street turn opportunities for carriers to save up to USD 750 million annually.
- Business Process Automation – elimination of paperwork and emails will bring better customer experience for having better customer service, lower DSO for suppliers, lower workforce.
- Container Fleet Reduction Opportunity – real-time tracking ((tracking sensors will be installed for precision and accuracy) and container location sharing will be enabled within the GSCP platform reduced oversupply issues by 15%-20%.
ICO Token Model
Blockshipping created two tokens for its initial coin offering – CCC and CPT.
- The Container Crypto Coin (CCC) – external ERC-20 revenue share token that will be sold during the ICO and will be traded on the secondary market.
- The Container Platform Token (CPT) – internal utility token within the GSCP platform.
These two tokens are designed in an asymmetrical uni-directional way. Wherein, the external CCC token will not affect the value and stability of CPT token.
For CCC owners, 20% of the gross revenue will distributed to the token owners initially and will be gradually reduced based on the monthly total revenue moving forward – revenue share percentage will be reduced to 3% when gross revenue reaches USD 2.5 million and above.
As the team estimated the revenue share amounts, they are expecting an annual Shared Revenue per token of 1.42% by 2019 and may reach 19.43% by 2022.
Payouts will be done by Reverse Dutch Auction. They see this method as an effective away to prevent the price from falling in fixed intervals.
Token Sale
Token: Container Crypto Coin (CCC)
Platform: Ethereum ERC-20
Maximum Token Supply: 50,000,000 CCC tokens
Total Tokens for Presale and ICO: 40,000,000 CCC tokens
Price: 1 CCC token = USD 0.62
Total Tokens for Bonuses: 2,500,000 CCC tokens
Hard Cap: USD 24.8 million
Minimum Investment: USD 100 equivalent
Token Distribution
The Verdict
Blockshipping has been gaining popularity for its unique GSCP platform – they actually have been receiving impressive ratings from ICO experts. This is not quite surprising though since they are presenting game-changing blockchain-based platform that has high potentials of bringing high quality of services for each consumer and higher profit margin to carriers. And with a less complex system in place – timeliness for the fulfillment of each process will be met.
We can all agree that the project is quite ambitious and the technicalities of the platform requires utmost focus for it to successfully grow. However, basing it on the experience of the team along with the Danish Maritime Foundation supporting them, they seem to have a solid foundation.
And with the platform’s focus revolving around the container shipping industry – which is a global interest – it is highly likely that the group will be backed by many who are interested to revolutionize their businesses. But of course, it’s still too early to tell if this will be the case.
Same with any other platforms, consistency and leniency on their protocols are needed to expand its community.
For more information on Blockshipping’s ICO visit the links below.
Website: https://www.blockshipping.io/
Telegram: https://t.me/blockshipping
ANN/Bounty: https://bitcointalk.org/index.php?topic=3502572.new#new || https://bitcointalk.org/index.php?topic=3502799.0
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