The GSCP platform

Blockshipping’s Global Shared Container Platform (GSCP) is designed to make key processes in the global handling of containers signifcantly more effcient and thereby solve some of the most important problems in the container shipping industry today. First and foremost, the purpose of the GSCP platform is to provide a complete blockchain enabled container asset registry (like a ship register) where the full global inventory of containers (more than 25 million units) are registered along with real-time locations of every single container around the world. The goal within 3-4 years is to
achieve a 60% market coverage with 16 million container units in the GSCP blockchain registry.

The blockchain based GSCP platform will enable a wide range of players like container Carriers, Benefcial Cargo Owners (BCO), terminal operators, port authorities, leasing companies, trucking companies, freight forwarders, and NVOCCs (Non-Vessel Operating Container Carrier) to achieve cost savings based on real-time information exchange.
The technology offers real-time visibility and blockchain enabled smart contracts that automate processes and payments between parties. This enables all parties to signifcantly reduce internal control/admin functions (costs)

Who are the competitors?

In the container shipping industry today, only a few other companies besides Blockshipping are developing blockchain-based solutions. One example is the HongKong-based company 300Cubits; another is the Maersk Line and IBM joint venture. None of these has the same focus as Blockshipping, and they are not considered competitors to Blockshipping and the GSCP platform. On the contrary, they help to confrm that the idea of using blockchain technology in the shipping industry is right and relevant. Furthermore, a small number of other companies are offering solutions that have some functional overlap with the Blockshipping solution, but none of these is based on blockchain and smart contracts, and none of them is providing a solution as complete as Blockshipping’s platform, they are only able to match smaller parts of Blockshipping’s proposition

The GSCP ICO

Blockshipping is launching an ICO – Initial Coin Offering – for the GSCP platform.
An ICO is a new and alternative funding model, often compared with crowdfunding, to supplement – and sometimes replace – more traditional funding methods like VC funding for start-up companies.

The ICO crowdfunding model is interesting for at least three reasons:

The ICO model is a valuable and effcient alternative to traditional VC funding for start-ups. To some extent, it changes the balance of power between the VC’s and the start-ups by enabling the start-ups to take back the initiative of funding through a broader community of potential contributors
The ICO model makes it possible for start-ups to raise funding without losing control and diluting the ownership of their project
The ICO model is democratising start-up funding in a new and never-before-seen way that allows numerous smaller contributors to support and invest in projects that they sympathise.

The Blockshipping ICO token model

One of the most important and highly debated issues when discussing the best and most correct and credible way of designing an ICO is the choice of token model and the legitimacy and credibility of different types of tokens.

For the Global Shared Container Platform (GSCP) Blockshipping has decided to create two tokens:

The Container Crypto Coin (CCC): an external ERC-2042 Ethereum revenue share token/crypto currency to be sold publicly during the ICO and subsequently traded on the secondary market
The Container Platform Token (CPT): an internal utility token for transactions on a private/permissioned GSCP blockchain

The internal and external tokens will be separated, but in an asymmetrical unidirectional way so that the external publicly traded token CCC cannot affect the stability and price of the internal token CPT, but the internal token can and should support the value of the external token by sharing revenue generated by the transaction volume in the internal system on the GSCP platform with the external token owners.

Additionally, to further support the CCC and its price in the free market, a major part of the collected funds will be locked in a Market Maker fund. Please read more about this fund in the sections below.

The idea of issuing two tokens came from watching what happens when utility tokens become popular on the secondary market and how that tends to invalidate their viability as utility tokens for their originally intended purposes. Transaction prices on the Ethereum platform have gone up signifcantly as a logical consequence of the rise of the value of Ether. Bitcoin has become completely useless as a means of payments and is now in practice solely a digital asset class, even though Satoshi Nakamoto’s original idea was to create “a purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a fnancial institution.” To avoid a situation where a successful reception on the market of a GSCP token would harm its ability to perform internally on the GSCP platform we realised that we needed to make a split into two separated GSCP tokens each with a clear and well-defined role in the GSCP ecosystem.

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Revenue Sharing Model

The GSCP platform issues two tokens: The internal Container Platform Token (CPT) and the external dividend token Container Crypto Coin (or CCC for short) 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. These transactions will relate to a variety of services and fees like ‘capital purchase’, ‘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 dividend model, the funds held in the Revenue Share Pool will be passed on to the owners of the CCC tokens in a way that rewards 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 US Dollars. 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 at fixed intervals during the auction until the total amount of available Ether is spent.

This way token owners who chose 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.

“Shared Revenue % per Token” is calculated against the initial contribution of USD 0.62 per token, so e.g. in 2022 we estimate a share of CCC worth USD 0.1205 per CCC i.e. this corresponds to 19.43% of the ICO price of USD 0.62 per CCC.

Token Distribution (CCC)

A total of 50.000.000 CCC Tokens will be issued. The 50.000.000 is a hard cap and no further CCC tokens will be issued at any time in the future.

The CCC will be allocated as follows:

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Token Sale

Due to highly volatile prices of the two main crypto currencies we have chosen to lock in the price of each token to USD 0.62. It will be possible to contribute to the ICO using Ether (ETH), bitcoin (BTC) and bank transfers (USD & EUR). The exchange rate will be locked at the time of the purchase of the CCC and will be based on the average price
quoted on the three top ETH/USD, BTC/USD exchanges: bitfnex.com, gdax.com and bitstamp.net.

For example, with a ETH/USD price of 1,000 USD per ETH, USD then the price of CCC will be one ETH for 1,613 CCC. Minimum buy will be the equivalent of 100 USD i.e. 0.1 ETH at ETH price of 1,000 USD. During pre-sale a 20% bonus will apply thus giving per the example above 1,935 CCC for one ETH. Additional 500,000 CCC are reserved as an early bird bonus in the public sale.

A dedicated sales website will be launched to handle the public token sale and KYC registration process. To give a fair chance for everyone to purchase tokens, allow payment in both ETH, BTC, USD and EUR and to avoid the gigantic transfer fees sometimes seen during pure Ethereum executed ICOs - we will not be using one central wallet to accept contributions. Instead based on the chosen means of payment we will create an individual and dedicated transfer option for each buyer and allow a certain time for the buyer to execute the transfer. If the buyer does not perform the payment in this timeframe, then the CCC will be released back in the sales pool.

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FUNDING BREAKDOWN

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ROADMAP

Q1 2018
Platform Design/Prototyping
Blockchain Platform Selection
Smart Contracts Design

Q2 2018
Platform Design/iPaaS Integration
Smart Contracts Development
Platform Implementation
Data Population

Q3 2018
Smart Contracts development
Mapping of Customer EDI
data migration
Soft Launch

Q4 2018
Data Migration
Training/Preparation

Q1 2019
Cut-over
Hyper Care/Transition

TEAM WORK :

We have built up an incredibly strong team of highly competent people with either long experience in key positions in the container shipping industry or with expert knowledge and genuine hands on experience about blockchain technology or smart sensor technology and the use of IoT in a shipping context.