Block shipping is a new company founded in 2017 and based in Copenhagen, Denmark. They are experts in providing solutions by using emerging technologies to benefit their customers and by automating their business processes. Their team comprises of experts and specialists from the fields of Shipping and Logistics, Modelling, Optimization and IT solutions.
The Global Shared Container Platform (GSCP)
Block shipping is involved in making a path-breaking platform which has the capability to revolutionize the entire shipping industry.
GSCP aims to provide a global container asset registry, which will have the entire global inventory of containers of different companies registered. It will also show real-time locations of containers present in any part of the globe. GSCP is also aiming to provide solutions for managing operational payments clearing between different stakeholders involved in physical handling, haulage and sharing of containers.
It will also give real-time tracking of containers, which will let the shipping company see where their containers are real-time. This feat has not been achieved by any other company in the world to date. This will end the transportation of empty containers and save a huge sum of up to 5.7 billion USD annually.
The Shipping Industry and the Container Market
At any given point in time, around 27 million freight containers are being transported from one destination to another via trucks, rails or ships, or they are waiting at ports, a container depot, a train hub, or a company to be picked and transported to a new destination. Out of this, around 60% of container handling is done by seaborne trade alone, which is around12 trillion USD in value.
Problems faced by the Shipping Industry
The shipping industry has a huge potential, but its plagued with certain inherent problems, which is making it less efficient and lowering its profitability. Apart from the traditional problems of overcapacity, security threats, low rates and environmental regulations, some of the other problems faced by the shipping industry are the following:
There is a lack of coordination as the freight owners have no idea about the whereabouts of the containers, whether it is in transit, or waiting for collection somewhere in the world. Even in this digital age, no one in the industry knows in real time if the containers are empty or loaded, or if a train or truck is wasting time and energy driving around an empty box instead of goods resulting in additional operational costs.
Because of no real-time tracking, the truck carrying the container becomes invisible once it leaves the terminal unless it arrives at its destination and vice versa.
There is under-utilization of shipping containers as sometimes there are less than expected container loads increasing the operational costs.
A lot of complicated paperwork involved.
The IT system is outdated, which causes unnecessary delays and errors.
The payment system to different handlers is slow.
Proposed Solutions by Block Shipping
Blockshipping’s GSCP proposes to give effective solutions to the problems faced by the shipping industry.
These are:
Real-time tracking: The registry of all the containers with GSCP will allow the containers to be tracked in real time by fixing on intelligent GPS tracking devices. This will also allow simpler street turn saving at least 750 million USD per year.
Reduction in road congestion: GSCP can predict to the port authorities, for how long the import container will stay in the yard, before being picked up and delivered to the receiver thus reducing congestion.
Full payment platforms: Block shipping provides a centralized, strong, single payment platform across all the stakeholders. This simplifies the transaction process, reducing cost and administration.
Optimization of container space: Many containers travel empty, or partial, costing over $5 billion annually. Through GSCP, shipping companies and their customers will be able to consolidate shipments, share containers, and utilize empty space.
Automation of processes: GSCP makes Handling of data more streamlined and simple, which reduces paperwork, improving the turnaround time and increasing profitability.
Increase in saving: There is an overall increase in saving as the handling cost of the empty container is done away with.
Less Carbon footprint: Maximum utilization of container space, and reduction in movement of empty containers, there is an overall reduction in usage of fossil fuels thus reducing the CO2 emissions in the environment.
Why invest in Block shipping
Today, the shipping industry is facing a challenging business environment with shrinking profits for Carriers and Leasing companies. Blockshipping‘s unique GSCP platform gives a panacea to all the problems faced by the industry. It has the potential to save at least 5.7 billion USD a year for the global container industry and reduce the global CO2 emissions by at least 4.6 million tons yearly.
Key players in the shipping industry have shown great interest in GSCP. Apart from private angels and Venture capitalists, the company also has The Danish Maritime funds, which invests only in commercially and technologically viable projects. This gives enough reasons to trust and invest in Block shipping.
Apart from Shipping industry, Blockshipping’s GSCP can also be extended to other industries as well like retail, clothing, groceries transforming many markets, saving billions of dollars across.
Token Details
The GSCP platform will issue two tokens which are;
• The internal Container Platform Token (CPT) for the Platform
• The external dividend token Container Crypto Coin (CCC)
They will both be issued on the global Ethereum blockchain for the ICO.
Highlights of the token use include
• The industry players will use the internal CPT token
• The transactions will relate to a variety of services and fees like ‘capital purchase’, ‘container exchange fees’, etc.
• Revenue Share Pool gets a percentage of income gotten from the platform's transaction fees and is passed to the owners of the CCC tokens.
Team
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Writer: Cryptoflintcode
