Tuesday 12 June 2018
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
Blockshipping is launching the first shipping related ICO (Initial Coin Offering) 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 be launched in April 2018
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DISCLAIMER:This post was brought to you by Opeyemi being my personal project on BLOCKSHIPPING campaign project