BLOCKSHIPPING: EXPLAINING THE NEED FOR THE APPLICATION OF THE BLOCKCHAIN TECHNOLOGY IN THE SHIPPING INDUSTRY

The container shipping industry covers about 60% of the world's seaborne trade, Denmark is one of the countries involved in shipping business and is the seventh largest seafaring nation in the world. On a daily basis, millions of containers travel from one place to another in vessels or there are in a particular part of the of the world waiting for pick up or loading. The thought of transporting all kinds of goods in containers ranging from automobiles to food items was nurtured by American Malcom Purcell McLean in the 1950s and today it has become one of the largest means of transporting goods and services buy for such industry that is supposed to have a great value, it had not been able to maximize its full potentials. For years, there has been the problem of tracking down, insecurity, overcapacity, low rates, many movements that are unaccounted for; no one even knows if a shipment is empty or loaded in realtime, a significant percentage of containers around the world remains unknown and substandard customer services to the shippers.

Blockshipping is offering a solution with GSCP - The Global Shared Container Platform based on blockchain technology. The GSCP will create a blockchain based container registry which will accommodate inventories of container movements alongside realtime locations across the globe. This will make shipping industries to become more efficient and help solve a number of problems in the container shipping industry.

The GSCP intends to;

• keep track of shipping movement and record them in the blockchain registry realtime wise
• monetize data using blockchain and Artificial Intelligence, AI
• become a solution in managing payments on physical handling and sharing of contacts between stakeholders.

Why Blockchain Technology?
Blockchain safely record transactions as at when there are been carried out, emitting transparency and decentralization. The blockchain based GSCP therefore will keep track of the industry stakeholders, terminal operators, container movements in an inventory that will be accessible to all.
Using smart contracts, it will enable flexibility in the system by securing the data, reduce costs and formalize relationships I've the public network.
Cost reduction will alter;

• Greybox opportunity - Carriers missing out on annual savings because of moving around with empty containers.
• Street turn/triangulation opportunity - The platform is not trusted and the opportunity to save is not being realized.

• Opportunity for banks and global leasing companies; banks and insurance companies run at a loss when defaults occur in the global container carriers.
  But with the GSCPlatform, the economic savings potential will benefit both the global carriers and investors.

Blockshipping Initial Coin Offering (ICO) will be done to raise funds to carry out these development. The tokens will be divided into the internal utility token for transactions on a private GSCP blockchain called Container Platform Token (CPT) and the external Ethereum revenue share
token called Container Crypto Coin (CCC) in which holders of CCC will receive Ether as payment and can sell or hold them.

Useful links
Website: https://www.blockshipping.io/
Whitepaper: https://www.blockshipping.io/wp-content/uploads/2018/02/Blockshipping_GSCP_ICO_White_Paper_public.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3502572.new#new

Social Media
Twitter: https://twitter.com/Blockshipping
Facebook: https://www.facebook.com/blockshipping
YouTube: https://www.youtube.com/channel/UCy6rhL5daYE8jxbuUgNu6jg
Telegram: https://t.me/joinchat/HWi2Gw9VvUw1U5lZObNS2w

Writer: Fumberry
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1820253