We’ve all been fascinated by the huge container ships we saw while visiting different seaports or watching movies or documentaries, right? However, we were never quite aware of the incredible industry that backs up all these transportation of goods, right? Unfortunately, the container shipping industry is in distress. To optimize the way it functions and create the first freight container registry, Blockcshipping aims to launch a blockchain based platform that will enable all companies and institutions in this industry to better handle transactions and attract new investors. How will this project actually operate and what are the roles of the tokens it will soon launch? Find out in today’s article:
Global Shared Container Platform (GCSP) by Blockshipping will be issuing two distinct tokens:
Understanding the revenue sharing model
A percentage of the revenue generated by platform users will end up in a Revenue Share Pool; however, it will not stay there for long, but be passed on to the owners of the Container Crypto Coins. What other operations are used here?
Blockshipping exchanges the CPTs (inside the Revenue Share Pool) to Ether, via $. Then, the platform uses smart contracts to run a Reverse Dutch Auction on the Ethereum blockchain - now, Blockshipping provides the CCC owners a price for their tokens. This price will constantly increase, up to the moment when all available Ether are spent. Once the auction is finalized, Blockshipping allocates the procured CCC tokens to all the owners of CCC tokens - on a pro rata basis. Through this chain of processes, Blockcshipping manages to repay the CCC token holder regardless of their decisions (whether to sell or hold on to their coins).
Top features of the Container Crypto Coin:
● A Revenue Sharing Pool - this mechanism will pay a percentage of the revenue that is created on the GSCP platform, returning to the owners of the CCCs
● A Market Maker Fund - this component will provide all participants that take part in the ICO (by buying CCCs) an interesting option; users will be able to opt in reselling these coins back to the GSCP platform, at almost any time following the ICO
What is the current status of GSCP and what makes it gain more momentum?
Until now, an important number of container carriers from various parts of the world have expressed their interest regarding this bold project and, moreover, in backing this platform. Also, GSCP has succeeded in gathering funds from well-known shipping institutions (such as the Danish Maritime Foundations) and private investors.
The GSCP platform is currently under construction; the ICO will launch in May 2018. Moreover, all progress related to this stage and all future milestones are presented on the Blockshipping official website.
Learn more about Blockshipping and the ICO
Feel free to visit the official website of this project at https://www.blockshipping.io or browse the White Paper. This document will offer answers to questions such as:
