What is Blockshipping?
Blockshipping is a blockchain based platform that will enable registry of containers.
The platform is called GSCP (The Global Shared Container Platform). The platform will be able to track all the containers of the world (~27 million), and all the players in the shipping industry will be able to cooperate through it.
The project is being developed in Denmark. Despite the small population, this is one of the worlds largest seafaring countries in the world. This has been the case ever since the Viking era. It should, therefore, come as no surprise that Scandinavia is one of the world leaders in terms of the shipping industry.
What are they trying to solve
Container shipping currently accounts for about 60% of all seaborne trade.
Blockshipping is trying to make a platform to make the container industry more efficient. The team has stated that it would be possible to save at least 5.7 billion USD by utilizing their platform.
GSCP is going to make key elements in the container shipping process more efficient by solving some of the biggest problems the industry currently is facing.
GSCP key elements
Tracking + inventory system
The main part of this platform is the tracking system. Through the tracking system, all containers can be tracked in real-time along with a manageable overview of the inventory in each container. Because of the inefficient tracking systems today, shipments are often inflated by 15-20% more than the actual need.
The Greybox is an already existing concept, where an independent company can sell their surplus space to others. The concept has been rejected by most companies due to the variation of shipping lanes.
Due to the lack of a practical solution for container sharing, an estimated 3-5 billion USD are being wasted.
Blockshipping is ready to revive this concept, as they are in a unique position to make this work (millions of container shipments being sent through the platform makes the shipping lane problem obsolete.
With Blockshipping, each container has a manageable overview. This combined with the tracking system makes a more cost-saving solutions as companies won’t have to overfill their cargo as much, only shipping what is needed.
Blockshipping is going to utilize two separate tokens on their platform.
The internal Container Platform Token (CPT)
CPT is going to be used by the industry actors for payments and settlements on the platform. These transactions will mainly relate to services and fees.
External dividend token Container Crypto Coin (CCC)
This is the coin that is going to be issued to ICO contributors. This is mainly a revenue-sharing token.
A percentage of the exchange fees that get collected by the platform is going to be transferred to a revenue-sharing pool.
The pool is then used to buy CCC tokens with ether until all available ethers have been sold. The bought CCC tokens will then be transferred to all owners of the CCC token.
ICO Ratings Online
The project has received positives reviews on the top online platforms.
The pre-ICO lasted from March 1 – March 20.
The main ICO started 15. May. The end date has not been set yet, but it is going to be either end of July or end of August.
The end date has not set yet is because Blockshipping is currently negotiating with a high-volume distribution partner that chose the CCC token as their first ICO to be sold through their platform.
The latest numbers published by the team (June 14) stated that the team has raised USD 2.44 million in token sales and sold over 4.2 million CCC tokens.
The team is confident that the hard cap of the ICO will be reached. However, unsold tokens will go towards the Revenue Share program. See more about the revenue sharing on page 31 in the whitepaper.
The ICO is going to be the first ICO to be based on the ICO 2.0 framework. The ICO 2.0 framework is a Danish guidance for ICO’s created by Denmark’s largest law firm, and its intention is to make sure ICO’s are following the best practices.
The token being sold in the ICO is CCC (Container Crypto Coin). Price per token is 0.62 USD. The token is going to be released on the Ethereum platform as an Erc-20 token.
40 million tokens, 80% of the total token supply is going to be sold in the ICO.