[Crypto Currency] 300 Cubits (TEU), Shipping Container Reservation Solution
The container cargo market is a fairly large global market. In 2017, we will see a trade volume of 121 million TEU in the first half of the year. This is a market that can catch a glimpse of the shortage of the global economy as the industry is being activated in accordance with economic growth and economic development, and the container cargo market develops as the volume of trade increases.
As protectionism, which is the policy of Brecksack and Trump, spreads, it can be seen through comparative advantage strategies that utilize labor costs of third countries.
Container liner The major items that make up the trade volume of the shipping industry represent the trade volume multiplier effect according to the comparative advantage of countries such as wage gap.
Why do I need 30 cubits of TEU in this big market? 30 Cubits wants to create a new industrial environment.
First of all, the problem raised by default is No Show. The container industry has an annual loss of $ 23 billion annually, and the customer has booked container shipping, but it has a problem of disappearing. This is because there are industry practices that do not accept deposits, and TEU tokens are intended to be used as a security deposit.
Container shipping industry is the first to introduce block chains and issue TEU, a digital currency. Competitors will be able to steal these solutions unauthorized, so instead of patenting, they will distribute tokens to participants who join TEU.
It plans to issue 100 million TEUs to exchange 40% of the 40 million shares listed on the exchange, and the TEU holder provides a channel to set prices for exchange.
54%, 54 million of which will be distributed to logistics companies and applied to actual use, thereby securing incentives for global supply chain participation.
Because it is ERC20, it can expand to the limit that Ethereum accepts and can pursue speed improvement through migration or chain development.
It will be free to use 12 tokens on the 300 Cubits platform, and platform users will use it as a guarantee of deposit. The container shipping industry has expressed a positive attitude and will make it possible for 300 cubit team members who have experience in the financial and container shipping industry to realize them.
The reservation solution currently in use has an agent fee, but if you are based on a block chain, there will be a direct deal, so a free solution can be provided through the platform.
When introducing such a block chain technology, it is not necessary to erase the individual system of the participants, and if the integration of the common block chain and the carrier system is desired, the project can be promoted.
In the past, these container cargoes were not guaranteed to be booked, and even if they made reservations in advance, they would cause damage on the day. This is why No Show, which is 25% ~ 30%, occurs annually and is introduced as a means to prevent this.
Therefore, while many logistics companies offer solutions through the introduction of penalties such as deposits and bank guarantees, we propose that the additional means and costs are not accepted and the means to resolve them are 300 Cubits.
The TEU deposit module is economical, structured in such a way that it does not go through system integration in order to reduce the burden on the platform development costs in an uncertain market, and is processed and processed by smart contracts that transmit and receive tokens. It is simple to register and print, simple, and gives you the option to use an existing process if you do not want it.
It means that other UIs can be connected to the block chain based system, allowing data integration through API and Master Smart Contract, or allowing existing independent UI not associated with TEU to be provided to participants using TEU.
With a wallet, you can instantly apply smart contracts through 300cubits with peer-to-peer (P2P). Development develops block-chained parts of one of the co-founders, Jonnathan Lee, as a reservation assurance module, and the application software that uses it is proceeding with Kinetix in Hong Kong.
TEU roadmap.
In January 2018 we opened the 300 Cubits homepage.
On January 22, 2018, we announce the participation of shipping companies.
Beginning on February 1, 2018.
February 12, 2018 announced ICO and registration time.
We will be conducting a real-time experiment on TEU warranty reservation in March 2018.
We participated in TPM Long Beach Conference on March 5, 2018.
We will start ICO on April 12, 2018.
We will terminate ICO on May 12, 2018.
The beta system will be released on May 18, 2018.
We will show that the system is operating in real time on June 15, 2018.
On July 30, 2018, shipping companies will cease participation.
TEU team.
Johnson Leung was the deputy manager of Hong Kong JP Morgan and investment manager of Hutchinson Port Holdings. He specializes in investment in the shipping industry and the finance industry. His main field is investment in ports and container stocks.
Jonathan Lee worked for China Construction Bank and Shanghai Pudong Development Bank. I worked in the Asian finance department at the Hong Kong branch of the Swiss private bank UBP (Union Bancaire Privée).
Eugene Kim served as Senior Vice President of CLSA's Senior Associate, RBS, and served as Deputy Director at Morgan Stanley's Hong Kong Department, where he focused on margin trading and derivatives.
It can be seen that people who worked mainly in the field of finance are working as founders.
The founder who has a career in the shipping industry is not a person who worked at a logistics site but a person who invested in or invested in a shipping business or port business.
It is an adviser.
David Young, president of AIG Capital's partner.
Kai-Lung Hui is a professor of information systems at Hong Kong University of Science and Technology.
Thomas Eskesen is a Danish, has worked for a logistics company called Maersk, Maresk Line and is now a management consultant for Eskesen Advisory.
Liner Research Services is a leading adviser to the logistics specialist newsletter.
Kinexit, responsible for application software development, is an IT solutions developer in Hong Kong. ISO 20000-1: 2011 IT Service Management Certified company that focuses on IT systems and distribution business or networking of third parties.
SOA-QPS4 is based on the standing offer agreement, and it is a close relationship with the Hong Kong government.
A summary of 300 Cubits.
TEU is a system for reservation guarantee of shipping logistics.
It can be said that the emphasis is on acquiring a trust relationship between users and carriers through smart contracts and placing a security deposit.
We plan to build an integrated system for new small and medium-sized participants, but it will provide a system that can utilize the TEU token while retaining its own UI to induce participation of companies that have already established the existing system.
However, the team and the advisor are in bad condition. First of all, I am worried that the project is not a professional worker in the logistics industry, but a project carried out by people engaged in the financial investment industry.
Of course, one of the advisors, Thomas Eskesen, has worked for Maersk, the world's largest shipping company, so you can get to know the industry's ecosystem and get active cooperation.
Advisors also seem to have consisted primarily of professionals who are building systems first, rather than experts in the field of block chains and logistics.
I am afraid that they understand the system of the block chain, build the application software properly, or build the main system of TEU well.
Above all, price fluctuation due to long-term logistics transportation is a problem. There are many large shipping companies that already have a penalty for this.
Fares and oil prices continue to decline. If the price of a month's shipment suddenly plummet, the shipment will be meaningless and that's why shipping industry uses payment via USD.
The number of companies that will participate will be a problem because how to approach the shipping logistics industry which is 1% ± big due to the heavy cargo volume.
This uncertainty is a major obstacle to TEU success factors, and I think that the size and number of participating shipping companies will be the biggest problem.
TEU: https://www.300cubits.tech/
Facebook: https://www.facebook.com/300cubits.tech
Twitter: https://twitter.com/300cubits_tech
Medium: https://medium.com/@300cubits
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