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

Image Courtesy: 300cubits

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>

<< May 2018 >>
MTWTFSS
30 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 3

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

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 >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >