Before you read any further, please check out SIO Episode 1: The Genesis Post. This post explains what SIO is and also introduces the idea for the STEEMITSIO token.
Welcome to SIO Episode 3: The Blockchain of Global Freight.
Today's interesting opportunity is the Blockfreight ITO (initial token offering).
In 1 day and 13 hours, Blockfreight will offer it's Blockfreight token crowdsale to raise funds to continue development. Blockfreight tokens are required to post data to the Blockfreight blockchain. The token sale will release 50 million tokens, or roughly $2 Million worth of tokens to crowdsale buyers. The price scale will be from $.01-$.05 to buy in.
According to an article on btcmanager.com:
Bill of Lading is a legendary word in the shipping world, denoting the capturing of information such as the declaration of goods, where the delivery is coming and going, the consigner and consignee of record. In a sense it’s like a title deed to the goods in the container, denoting proof of ownership.
Smith says that today’s massive international trade market demands greater efficiency in this process. Blockfreight™ endeavors to deliver on this by accelerating the validation and acceptance of the transaction via on the blockchain.
He goes on to note that a critical element of the network is the integration of a network fee. Here, a Blockfreight™ token [BFT:XCP] will be required for each transaction on the chain. This software access token and fee is built on Counterparty, consequently carried on the Bitcoin blockchain. In the end, Smith estimates a cost of between $5.00 and $9.00 USD per shipping container moved from point to point.
As of the beginning of August, the Counterparty asset of Blockfreight™ or BFT, trades on Bittrex exchange as the company’s 'fuel'. It retailed at a cost of $1 US Dollar per Blockfreight™ token.
Despite its promise, Blockfreight™ is still very much in an experimental research and development stage. Over the past year or so the focus has been on system design and research of the underlying technology. A major catalyst here has been the Blockfreight R&D (Australia) initiative leading to the Blockfreight™ Open Source (MIT) project . Efforts here were instrumental in Blockfreight’s™ decision to build its open source code on Tendermint.
Blockfreight’s™ momentum has certainly minted its status as an early adopter in the next frontier of shipping. But there are other players in the game that hope to make a similar impact. Most prominent of these is a global supply chain model based on the Blockchain that is in development with IBM. IBM's hope is that the blockchain will offer a more efficient and trusted value chain system for the movement of cargo for their client companies.
This is truly one of the largest use cases that will attempt to use the Counterparty platform to tokenize a real world industry. Blockfreight has also sought out the assistance from Adam B. Levine and Tokenly. You can also see that they have recently tested the Blockfreight swapbot hosted by Tokenly. The last recorded transaction was 4 days ago. According to the swapbot webpage, you will receive 100 Blockfreight tokens per $1.00 worth of BTC you deposit.
Note: I am not sure whether the actual initial token offering will take place on Bittrex.com or through the Tokenly swapbot. Click here to learn more about Tokenly Swapbots and Tend.
For more info on Blockfreight, check out the following links:
https://blockscan.com/assetinfo/BLOCKFREIGHT
https://twitter.com/blockfreight
To participate in the Blockfreight ITO, check out the following link:
To view the most recent YouTube videos about Blockfreight, check out the following links:
To view the Blockfreight White Paper, check out the following link:
http://blockfreight.com/whitepaper/
Why is Blockfreight and interesting opportunity?
I believe Blockfreight is potentially a very valuable investment because it is applying blockchain to solve real world problems in the freight industry. You can view the pain points provided by Blockfreight on the investors tab of their website.
If Blockfreight is successful in solving some of the pain points of the global freight industry, this may be one of the most slept on crowdsales that really has not garnered very much media attention.
As usual, do your own due diligence and research. Only invest what you can afford to lose. Only invest money that you do not need a return on immediately. You are funding coins, tokens, software, and projects that may fail, or take long term holding before you may see any profit.
I hope you enjoyed this episode of SIO. See you soon for more interesting opportunities. Remember to upvote and reply. And don't forget to include your Counterparty wallet address in a reply to earn STEEMITSIO tokens for future rewards and contests! This is the 3rd episode of SIO, and we have not yet had any users reply with their Counterparty address. You cannot earn STEEMITSIO tokens any other way than by upvoting and providing your Counterparty address in a reply. Once I have accumilated 100 Counterparty addresses, there will be a drawing for the first STEEMITSIO token prize.
Note: All images were pulled from the Blockfreight website.
Check out prior SIO episodes here: