The GSCP platform is being designed and developed by the Danish company Blockshipping.
The core team of Blockshipping consists of people with in-depth strategy, market, and technology knowledge and with decades of experience from key positions in the global container shipping industry
The Blockshipping ICO
Blockshipping is launching the first shipping related ICO (Initial CoinOffering) in the Nordic region.
The GSCP platform issues two tokens: The internal Container Platform Token (CPT) and the external revenue share token Container Crypto Coin (CCC) issued on the global Ethereum blockchain for the ICO. The internal CPT token will be used by the industry players when utilising the platform for clearing and settlement of transactions between them and is pegged to the US Dollar (USD). These transactions will relate to a variety of services and fees like, ‘container exchange fees’, ‘terminal and depot handling costs’, and ‘fees collected by carriers’.
A percentage of the revenue generated from the transaction fees on the GSCP platform
will go to a Revenue Share Pool. Through an innovative revenue sharing model the
funds held in the Revenue Share Pool will be passed on to the owners of the CCC tokens in a way that reward both short-term and long-term token owners.
The mechanics are as follows: Blockshipping will exchange the funds in the Revenue
Share Pool, i.e. the internal CPT tokens, to Ether (ETH). Thereafter, Blockshipping
will use smart contracts to conduct a Reverse Dutch Auction on the global Ethereum
Blockchain, i.e. an auction in which Blockshipping will offer the owners of the CCC
tokens a price for their tokens. This offered price will increase in fixed intervals during
the auction, until the total amount of available Ether is spent.
This way token owners who choose to sell CCC tokens will receive Ether as payment
for these tokens. After the auction Blockshipping will distribute all the CCC tokens
acquired from the auction to all the owners of external tokens on a pro rata basis.
This way CCC token owners will be rewarded regardless of their decision to sell or keep
their CCC tokens.
To give further incentive for buying CCC 45% of the raised funds will be kept in a market
maker fund to support the price of the externally traded CCC.
The market maker fund will support a floor price of CCC and token holders can at any
time exchange their CCC to USD at the floor price.
Blockshipping and the GSCP platform are already funded by private angels, and The
Danish Maritime Fund (www.dendanskemaritimefond.dk)and the ICO is a natural
supplementary funding method for a blockchain based company like Blockshipping.
The ICO pre-sale is scheduled for February 2018 and the public token sale will belaunched in April 2018
Blockshipping says its solution – which is called the Global Shared Container Platform (GSCP for short) – has what it takes to address staggering inefficiencies in the marketplace, bringing significant savings for businesses throughout the supply chain and dramatically reducing the industry’s toll on the environment.
Despite being a “hugely valuable” sector, Blockshipping says the industry has been plagued for years by security threats, overcapacity and ever-tightening environmental policies – adding that some issues have gone unresolved for decades.
Within a three to four-year period, the Scandinavian company aspires to have 60 percent market coverage – equating to 16 million shipping containers – and hopes its utility token will become the standard currency for transactions between firms operating in the industry.
Blockshipping believes firms will be incentivized to adopt its technology by estimates which suggest the industry could enjoy annual savings of $5.7 billion if the Global Shared Container Platform goes mainstream.
This would be achieved through the “smarter handling” that the GSCP would enable – making it easier for deficit and surplus containers to be matched. Blockshipping’s white paper cites research which indicates that carriers could reduce the size of their container fleets by up to 20 percent by installing real-time tracking sensors and gaining accurate location data.
The company also claims that, at any given time, one in five containers worldwide (the equivalent of 5 mln units) is unaccounted for. To compound the problem, it can be difficult to gather information about whether containers are empty or loaded, meaning that, all too frequently, trains and trucks are wasting time and fuel transporting empty metal boxes.
Needless to say, this means that the environmental advantages of the GSCP could prove quite significant. According to analysis from Opsiana, a consultancy also based in Scandinavia, the platform could see global carbon dioxide (CO2) emissions fall by 4.6 million tons per annum – with nitrogen oxide (NOx) emission cut by 4,900 tons.
PARTNERSBlockshipping has announced a partnership with MakerDAO, creators of the Dai stablecoin. The partnership specifically focus on the internal clearing and settlement token in the GSCP platform called CPT – Container Platform Token – that needs to be stable at all time. The partnership is expected to accelerate development and availability of the Blockshipping GSCP platform by leveraging Maker DAO’s proven Dai Stablecoin System to power the GSCP platform.
Rune Christensen, CEO of MakerDAO, sees a lot of possible benefits to Blockshipping by using the Dai Stability System to power the GSCP platform. In a joint press release he says:
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