The ICO market has taken a bashing in 2018. The proliferation of scam ICOs reached its nadir in late 2017 and early 2018. Investors have been understandably wary since. Blockshipping is currently in ICO and looks to me to be a very promising project. It has identified a real need and has a very strong team.
Blockshipping – Concept
Blockshipping has identified a potential saving of $5.7 billion to the container shipping industry, valued at $12 trillion. Blockshipping’s Global Shared Container Platform (GSCP) will innovate the shipping container industry. They will achieve this through hosting a complete blockchain enabled container asset registry. This registry will contain the full inventory of all containers globally. Consequently, the register will contain inventory info along with real time locations of the containers themselves.
The blockchain based GSCP platform will enable a wide range of industry stakeholders to achieve cost savings and reduced container inventories based on real time information exchange. The technology offers real time visbility and blockchain enabled smart contracts that automate processes and payments between parties. This enables all parties to significantly reduce internal control/admin functions (costs).
Blockshipping – Core Team
Block Shipping – Token Economics
Blockshipping will be the first ICO token sale to correspond to the recently drafted ICO 2.0 framework. The largest law firm in Denmark developed the framework in conjunction with fintech multinational Norfico. The Blockshipping ICO model provides for the issuing of two tokens. Blockshipping will issue Container Crypto Coin (CCC), an Ethereum20 token through the ICO ($0.62 per CCC). The token can subsequently be traded on exchanges. They will then issue The Container Platform Token (CPT). This is a USD matching token running on the Blockshipping blockchain that will be used to pay for a variety of shipping services. In contrast to the CCC, it will not be traded publicly.
CCC has two interesting features
(a) the revenue sharing model which sees each CCC coin earn a portion of revenue generated through the sales of CPT for use on the Blockshipping platform. (Estimated revenue yield per CCC is 1.42% in 2019 and 10.28% in 2022. Blockshipping calculate this return against the ICO price of €0.62 per CCC. Consequently it may change.
(b) the market maker fund, this fund is an initiative to help CCC price stability. Blockshipping hold 45% of ICO funds raised as an insurance fund for early buyers. Practically speaking the market maker fund allows any ICO buyer to refund their CCC purchase at a defined price based on the current phase of the project at time of refund.
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