300cubits signed up members of Coopernic Group to use its blockchain solution.

Hong Kong — Tuesday, 6 February 2018

Members of Coopernic Group, a large strategic buying alliance from Europe, have signed up to 300cubits’ Shipper Sign-Up Scheme to employ blockchain to tackle No Show/Rolling, a pain point plaguing the container shipping industry.

The No Show and Rolling are like two sides of the same coin. Customers in the container shipping industry can book their shipment space without having to pay in advance. When they do not show up at the port terminal with cargo according to their booking, there are no consequences. It is a consensus among the industry participants that 25–30% of the bookings do not lead to a shipment due to No Shows. Driving relentlessly for yields, the container liners respond by overbooking space, which circulates the problem back to the customers. So a customer with a booking confirmation from a container liner would still worry that his cargo may not be able to get on board the vessel booked as a result of Rolling.

“We and some members of the Coopernic Group are of course interested in constantly optimizing the supply chain. Among other things, this includes minimizing the high number of no-shows on the part of the shippers and roll-over on the part of the shipping companies. Against this background, the innovative system of 300cubits is interesting for us as a network, “says Stefan Blickensdörfer, Managing Director of SRTS Europe in Düsseldorf. SRTS is a strategic partner of members of Coopernic Group.

About 300cubits: www.300cubits.tech is initiated by a Hong Kong based company. The solution of the 300cubits is to provide a digital currency called TEU token for the industry to use as booking deposit through Booking Deposit Module, a cloud-based system built on blockchain. The Booking Deposit Module will go live on 15 June 2018. System trial on live shipment will be available for interested parties as from second half of February. Limited free TEU tokens are available for the industry participants. Shippers may register to receive free TEU tokens at here. Container liners may contact info@300cubits.tech to receive their free TEU tokens.

About Coopernic Group: Coopernic Group is the strategic alliance of four independent trading companies. The presence of the alliance partners covers 21 countries, taken together, almost 19,000 stores are operated with a total turnover of 132 billion euros. With COOPERNIC the partners have formed an alliance that gives an answer to the growing challenges of competition in Europe and the internationalization of the retail trade.

Contact Information: info@300cubits.tech