Blockshipping is aiming to bring a wave of efficiency to the shipping container industry, which has largely fallen behind the massive technological advancements that have taken place in most industries. Blockshipping will deliver a Global Shared Container Platform, a database of all shipping containers in the world and the means to track them, and an ecosystem that can handle various payments related to container shipping.

Read on to learn about the project's strengths.

Blockshipping SWOT Analysis

SWOT analysis sheds light on the potential of a project.

Blockshipping has a team with decades of experience in the container shipping and logistics industries. This heavy experience allowed them to build an important network that any start-up would envy. The founders of Blockshipping have easy access to the C-suite of many major shipping and logistics companies, and, during my talk with a company representative in the company's Telegram, he explained that many of the product functionalities are being developed after thorough consultation with their past peers who are primarily executives of the businesses they are targeting.

Blockshipping's founding team has such a high degree of influence within an industry-specific network that market penetration will be easy. Not only will they be able to deliver product specifications that are derived from thorough, first-hand discussions with their target industry's leading men and women, but they will also be able to save a fortune on marketing costs.

Blockshipping's goal of developing a network for tracking all shipping containers in order to save companies the money spent to unnecessarily transport empty containers can easily catch widespread adoption. However, the goal of internalizing many of the transactions associated with shipping containers is a lofty ambition. Almost the entire shipping container industry has not adopted any crypto. Pushing for a wave of widespread crypto adoption for transactions within Blockshipping's ecosystem would be tough.

However, as Blockshipping is offering revolutionary technology in the shipping industry, it has the best shot at driving interest in crypto from enterprises within the container shipping industry.

There are over 27 million containers in usage and millions of these are being utilized for a shipment at any given moment. This is a massive network of commercial activity that goes largely untracked; this a major technological gap that develops into operational inefficiency.

Blockshipping’s team has calculated that they can deliver $5.7 billion in savings to the companies involved in container shipping. They not only will be able to derive a fraction of that saving as revenue through fees, but will also up-sell clients with an extensive product portfolio. Given that global trade is likely to continue as the world population surges higher, Blockshipping is properly aligned for the future needs of a market that will continue to face considerable growth.

Blockshipping’s short-term goal is to have as much as 16 million shipping containers in its registry. Its long-term milestone is to have every container on its registry. Since container shipping is a global industry with penetration in every country, it will almost certainly be impossible to get every container on the registry simply due to the political biases—even 16 million could be quite challenging.

My expectation is that Blockshipping will be able to register the shipping containers utilized by the developed world, and that conveniently makes up a vast portion of containers in commercial usage at present. Though, this too would require jumps through plenty of bureaucratic hoops simply due to the nature of the industry.

Wrap-Up: Blockshipping is bringing much-needed efficiency to the shipping industry and its founding teams’ experience and well-developed network will play a paramount importance in the company’s ability to capture the opportunity at hand.