ICO

Shipit ICO Review: The UBER For Shipments

Project Overview

What Shipit Does

Shipit is a bold new app that seeks to revolutionize today’s shipping industry. Its goal is to facilitate easy, fast and affordable shipping.

Shipit aspires to become an integral part of everyone’s lives just like Uber. You may want to argue that this might be too ambitious for the app but, it’s creators have an ingenious plan to popularize the app and make it a household tool especially in Asian countries.

The whole initiative revolves around creating a functional symbiotic relationship between people who are shipping their packages and people who are traveling. It seeks to eliminate courier services and connect people for easier and cheaper delivery services.

The project model proposes that a package sender posts their listing in the app. A traveler heading to the same destination as the package sees the listing and contacts the sender. Both the sender and traveler schedule a meeting where the package is given to the traveler for delivery. The sender tracks the package until it’s delivered to the agreed destination upon which the payment is made to the traveler for his/her delivery services.

Shipit’s target market is primarily within the Asia-Pacific (APAC) Region. The region presents a broad and progressively developing market that already has supply chains that are adopting globalization. Shipit chose to focus most of its marketing resources on this region since APAC’s shipping infrastructure is significantly immature and fragmented. Currently, the APAC supply chain is also struggling to keep up with the vast shipping demand it faces. Shipit will, therefore, offer many e-commerce and retail providers with an opportunity to create their very own logistics for effective shipping solutions.

The app operates on a framework of sharing economies and crowdsourcing. This framework is universally recognized for its efficiency. The app also incorporates blockchain and smart contract technology as well as a composite crypto wallet. It is also easy to install on a smartphone which offers the user a world of shipping opportunities to diverse destinations.

Key Features of Shipit

  1. B2B, C2C, and B2C– Shipit offers crowd-shipping for individuals, businesses and even legal entities
  2. Convenient Affordable Delivery– Shipit eliminates most of the machinery units and technical elements involved in mainstream courier and postal deliveries. Most of the paperwork and processing fees are done away with which makes shipping easier and less stressful in the long-run.
  3. Elimination of Customs Duty Payments for small deliveries- the traveler carries the package as part of his/her personal luggage for which no tax is imposed.
  4. Encourages Personal Communication between users who are working together
  5. Adopts A Responsible Approach that lowers the associated risk of damage and theft. The app features a deposit system in which the sender may request the sender to make a collateral deposit to cover any damages incurred. There’s also a user review rating system that allows users to express their level of satisfaction after working with a particular user.
  6. Legally, The App Doesn’t Breach Any Regulations and Rules governing shipping both locally and internationally.

How Advanced is Shipit?

The development of Shipit for IOS begun in 2016. In this year, alpha and beta versions were created for IOS. Development for Android begun in 2017. 2017 also saw the launch of the pilot versions for both Android and IOS.

So far in 2018, the company has realized commendable progress. It had its open test in January followed by the first token sale in April. In July the app will have a crypto wallet added to it. SHPT will be integrated into the app in October 2018 when the app penetrates Japan’s and Philippines’ shipping markets

Shipit anticipates even bigger things in 2019 when it will incorporate blockchain technology and introduce smart contracts. It will also integrate Netverify and penetrate the South Korean shipping market before moving on to China.

Token Use and Appreciation

Tokens will be used on Shipit to accomplish various tasks including:

  • To pay for deliveries; a small commission will also be charged
  • To prioritize sender listing as well as traveler listing in the waiting list
  • To give users access to the list of senders and/or travelers

The token value is expected to increase as more people begin using the app and the project penetrates new markets.

The Shipit Team

The Shipit team consists of 12 team members and 15 advisors.

Iskander Karimov (Co-founder, CEO) a serial entrepreneur

Nikolay Grishakov (Co-founder, COO) a financial specialist

Azat Shaidullin (Co-founder, Chief of Strategy) an experienced strategist

Artur Iskhakov (Co-founder, Head of HR) a skilled business development expert

This team of cofounders is backed by a team of experts including Marat Akhunzyanov(CTO), Federico De Faveri (Lead Blockchain Developer) Alexander Sazonov (Backend developer) Alexey Fedorov (Software Engineer) and Anna Aturyan (PR Manager) among others

Opportunities

Shipit supports multiple cryptocurrencies including ETH, BTC and even Fiat.

Shipit is built upon a foundation of sharing economy and crowdsource both of which are highly supported in the current market.

Shipit drastically lower shipping charges hence senders may prefer it over conventional couriers and postal delivery systems.

Shipit offers travelers a novel way of helping people and making money on the side as they journey to various places.

Shipit’s focus on the APAC market niche is ingenious as this presents an untapped market.

Concerns

Shipit may face steep competition from other well-established crowd-shipping startups such as Shipizy, Airmule, and piggyBee

Issues of trust and responsibility between senders and travelers may slow adoption rates by users.

Summary

Project name: Shipit
Token symbol: SHPT
Token type: ERC20
Website: https://token.shipit.me
Whitepaper: https://token.shipit.me/files/en/whitepaper.pdf/EnglishWhitepaper.pdf
Accepting: ETH, Fiat, BTC
Hard cap: $24,000,000
Soft cap: $3,000,000
Conversion rate: 1 SHPT = $0.1
Overall token supply: 500,000,000
Regions excluded: USA, Singapore, China, New Zealand
ICO Timeline: sale starts 1st Aug 2018. Sale ends 31st Oct 2018.

Conclusion

 

Rating
  • Team
  • Market
  • Idea
  • Community
4.3

Summary

Shipit is a terrific idea. It, however, is entering into a field that has other well-established crowd-shipping startups. This puts Shipit in a tight spot from which the project could either succeed or fail. The business has the potential to become a big hit, just like Uber did when they disrupted the taxi industry. All in all, this is quite an innovative idea, and its focus on the APAC market makes it an ideal investment opportunity.