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>

<< Jun 2019 >>
MTWTFSS
27 28 29 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

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >