BLOCKSHIPPING: Digitizing Shipping the Blockchain Way
Sea ports are the nerve centres of the world economy today. With transactions in cargo that is worth trillions of dollars, the container industry is responsible for more than 60% of trade that occurs across the world’s waters. Despite advancements in transport technology, the macro-management of the container shipping is inefficient and has much room for improvement. Blockshipping is a Danish project whose goal is to bring much-needed optimization to the operations in the world of container shipping. This is made possible by a blockchain-powered platform known as the Global Shipping Container Platform(GSCP); a registry for all the stakeholders(business entities and cargo) in the shipping industry. The platform extends multiple unique utilities to all the players. Developed with the counsel of the largest law firm in Denmark Kammeradvokaten/Poul Schmith and the fintech advisory firm Norfico, Blockshipping is fully compliant with the ICO 2.0 Framework, the Danish legal guideline for ICO conduct. Some of the earliest contributors to the mission of Blockshipping project are The Danish Maritime Fund.
The Global Shipping Container Platform
The GSCP container platform is a much-needed solution that is 10 years in the making according to the CEO and Founder, Peter Ludvigsen. Think of it like a traditional database where one can keep all the inventory pertaining to a particular entity. On top of that, there is the geographical framework that triangulates the location of important assets as well as cargo that is on the move. Containers can be uniquely identified making it easy to follow their journeys as well as the capacity. Interested transporters who do not have their own containers, are able to view in real-time on the platform which containers ply their routes and the costs of using those to ferry their cargo.
Revenue Sharing Model
During the crowdsale, the CCC tokens is the one that will be offered for sale. The CPT will be created later and used to access various services on the platform.
Blockshipping has a two-token revenue model: the Container Platform Token(CPT) and the external Container Crypto Coin (the revenue share coin).
Users of the GCSP will be able to utilize the services on the platform using the CPT token. For instance, to be able to access services of a container terminal an incoming ship will have to pay for the services to the terminal operator using CPT. The terminal operator can be able to exchange the CPT for real world dollars. A small percentage of similar transactions to access services on the GSCP are directed to a Revenue Share Pool. This amount is what is passed on to the holders of the external CCC tokens through a reverse Dutch auction. A reverse Dutch auction occurs when there is one buyer and many sellers in this case, the GSCP and the CCC holders. The buyer raises their asking price until they hit a target at which a seller is willing to accept. All the CCC tokens bought back by the Blockshipping platform are redistributed commensurately to all owners of the CCC tokens. All token owners get to benefit, those who sell and those who hold the CCC tokens.
Market Maker Fund
45% of the funds raised will create a market maker fund that will buoy the CCC trading on exchanges. CCC holders can be able to exchange their tokens for USD on demand at the pre-determined floor price.
For more information please visit the following important links:
Website: https://www.blockshipping.io/
Telegram: https://t.me/blockshipping/
Bounty thread: https://bitcointalk.org/index.php?topic=3502799.0
Ann thread: https://bitcointalk.org/index.php?topic=3502572.40