First Nordic shipping ICO announced

First Nordic shipping ICO announced

Danish company Blockshipping, the creators of the Global Shared Container Platform (GSCP), has announced an initial coin offering, joining the rush of shipping ICOs around the world.

Blockshipping claims its GSCP will allow the global container shipping industry to save $5.7bn annually through smarter handling of intermodal freight containers.

Additionally, wide adoption of the platform will result in a substantial reduction of the global CO2 emissions of 4.6m tons annually when fully utilised, the company claims.

GSCP is both a real-time registry of the world’s approximately 27m shipping containers and a joint platform for all players in the container shipping industry – allowing them to perform a wide range of transactions related to the handling of containers globally.

The platform is based on blockchain and sensor technology.

The founder and CEO of Blockshipping, Peter Ludvigsen, who has been in the container industry for 39 years as a CIO for Maersk Line and a consultant for other shipping companies, commented: “In 2017, the world’s huge fleet of containers was used for transporting of all kinds of goods of a total value of around $12trn. But the problem is that we have no central registry of the many millions of containers constantly shifting location, incurring payments, and changing ownership. And this lack of real-time tracking results in a huge number of empty containers being moved around unnecessarily. The GSCP platform is the answer to the problem of the missing global real-time container registry. And in addition, the GSCP will be the preferred global trading platform for all kinds of services related to container handling between a wide range of shipping industry players.”

The Blockshipping board has a range of well known men from the liner industry, many with backgrounds at Maersk too, including Jesper Præstensgaard and Franck Kayser.

The GSCP ICO offers contributors a set of token features including the benefits of a revenue sharing model as well as a market maker fund that allows ICO contributors to sell their coins back to the platform at a floor price until Blockshipping has met certain fixed milestones in the development of the GSCP platform.

The ICO pre-sale by invitation is starting now, and the public token sale opens on April 15, 2018.

Blockshipping’s ICO is not only the first Nordic shipping-related ICO. It is also the first ICO to be based on a new Danish framework called The ICO 2.0 Framework, which will be launched in the next two months.

The purpose of the upcoming ICO 2.0 Framework is to increase the quality standards for ICOs making sure that future Danish ICOs are 100% compliant with Danish law and promote openness and transparency.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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