Alphaliner: Carriers to Get First Blockchain System in Mid-2018

A start-up company established in July 2017, 300cubits, plans to be the first to launch an actual blockchain application for the container shipping market, according to Alphaliner.

The company aims to roll out a booking deposit system on June 15, 2018, which would use blockchain technology and a dedicated crypto currency to address the problem of cargo “no-shows” and “rollovers”.

300cubits claims these are the key challenges in the container shipping industry as 25%-30% of the carriers’ bookings never show up and rolling always happens in the most inconvenient time, Alphaliner writes.

The company plans to distribute its own crypto-currency, named “TEU tokens”, to industry participants as the first step in getting stakeholders to adopt the new system. The company started given out TEU tokens to the industry participants at no cost on February 1, 2018.

“The container shipping industry has been slow in adopting new technology and widespread scepticism remains about the viability of such initiatives,” Alphaliner informed.

Initiated by a Hong Kong-based company, 300cubits would provide the TEU token for the industry to use as booking deposit through Booking Deposit Module, a cloud-based system built on blockchain.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >