BlockShipping Takes Advantage of the Blockchain Technology to Develop a Global Shared Container Platform
The expansion of trade and shipping has identified a set of major challenges to the industry, such as overcapacity, low freightage and the need of digital transformation. A big part of the problem is that the international inventory of containers with regard to their real-time locations as well as ownership changes, that certainly will find needs on the market to fill, has not yet been developed.
Blockshipping is a Danish-based company that provides management solutions for logistics automation. The company enters the market with its new development, a Global Shared Container Platform (GSCP), that should become a connecting link in ship management for all market participants. The key target of the platform is to enable enterprises to monitor all containers worldwide as well as comply with environmental regulations and optimize the cost and efforts associated with trade documentation.
Core concept and elements of the system
Many component parts of the logistics are bound to manual processes, such as manual data input and paper records. GSCP aims to overcome such frictions in the system by creating a single automated global ledger.
With the establishment of the unified container registry, GSCP seeks to solve three major objectives:
1. Real-time tracking of supply chains to monitor situational data on cargo ships.
2. Implementation of cost reduction methods for the benefit of global carriers.
3. Increase the market share for insurance and leasing companies.
In order to capture all logistics activities, Blockshipping GSCP will apply a wide range of methods and technologies from related fields. These include (1) a digitized CSC plate with different inspection information. Unlike its static analogue, a digitized CSC plate will reflect all changes including ownership and position. Due to (2) installation of the tracking sensors, container locations can be shared globally. GSCP will use (3) smart contracts to conduct any activities on the platform, including payments and change in ownership.
Strategies to reduce costs
Repositioning empty containers demands high expenses. GSCP believes that this issue can be addressed by sharing between carriers, which is known as Greybox technology, provided through the interchange platform. GSCP will match shippers with surplus of goods to those with a deficit. Additionally, due to real-time tracking system, shippers will be aware of container locations and can therefore cut significant costs. It has been estimated, that the implementation of the platform could allow for an annual cost savings of $5.7 bln.
The use of the street-run method will reduce the number of miles traveled by vehicles for empty containers as well as storage costs. GSCP will implement a new traffic management system, which is a Smart Port Terminal. The core concept behind this technology is a unified data network with an automated cargo handling system.
Token Sale Plan
GSCP will operate will two types of tokens. The CCC Token is an external token to be sold during the ICO. The CPT Token is an internal utility token for operations on the blockchain:
The logistics behind the global trade is highly complex. First, it involves many parties and different shipment tracking systems. Second, with a growing demand for flow acceleration, shipping companies are nowadays heavily exposed to the rigours of global competition.
Thanks to innovative technologies, GSCP will enable data transparency alongside cross-party cooperation in a seamless, integrated network. Among the major tasks, that are supposed to be handled with the implementation of the system, are improved efficiency in cargo handling, cost reduction as well as shipment rationalization. Blockshipping GSCP will provide an extensive database on containers location and their destination with real-time updates, as well as logistics data from carriers, authorities and customers. On top of that, a successful realization of the project will contribute to environmental improvements, such as reduction of carbon dioxide and nitrogen oxides emissions.
Links
Website: https://www.blockshipping.io/
WhitePaper: https://bit.ly/2vLwlDI
Telegram: https://t.me/joinchat/HWi2Gw9VvUw1U5lZObNS2w
Facebook: https://www.facebook.com/blockshipping/
Twitter: https://twitter.com/Blockshipping
Medium: https://medium.com/@Blockshipping
ANN: https://bitcointalk.org/index.php?topic=3043786
Author: https://bitcointalk.org/index.php?action=profile;u=2201409
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.