Blockshipping ICO — Sailing into the 21st Century with the Blockchain Technology on Board
Even though logistics and shipping are one of the most important industries in the 21st century, the overall management of the global container transfers is lacking in transparency and efficiency. This deficiency brings up several problems including an overall lack of global coordination of the shipping containers, which furthermore results in empty containers being shipped across the globe without a cargo stored in it. Doing this results in an extreme rise of CO2 emissions which could easily be avoided by an improved transparency and management of the global shipping industry. Looking at this from an outside perspective, there are clear conditions that lack innovation and are desperate for improvement. Blockshipping is trying to address all those deficiencies in the shipping industry while building a system that not only profits individual companies, but also the world and environment we live in.
First off — The shipping industry
Looking at the numbers, the container shipping industry shows how impactful in terms of sheer size and revenue it really is in the transportation and logistics market. Statista stated that over 60% of the worlds seaborne trade is conducted via seaborn container freights being shipped across the globe. In numbers, this equals about 12 Trillion USD per year (2017). The shipping industry is growing at a rapid speed. While over 100 million tons of goods have been transported in 1980, over 1.7 billion tons of goods have been moved in the year 2015, a rise of 1700% over the past 35 years. With the steep rise of the quantity of cargo being moved, the corporations handling these enormous amounts have expanded with it, stocking up on vessels and growing their business proportionally to the increased amount of goods being transported.
While a lot of those businesses are being highly profitable, the first corporations are going bankrupt due to the growing over supply of carriers combined with the inefficiencies this industry is currently suffering from. While implementing a central registry for an insane boost in overall coordination quality, the current shipping industry has not shown signs of going into this direction yet. In 2018 however, an ambitious group of people has forged a plan to change this. They are planning to increase not only the profitability of the industry but simultaneously protect the environment and world we live in. Those people are operating under the business Blockshipping ApS and we will have a close look on how they are trying to achieve their goal.
If you want to learn more about how Blockshipping is trying to disrupt the shipping industry, make sure you check out the next part of this series!
