The container transport industry wants to use the block chain to issue digital tokens


nnnThe 300cubits, a Hong Kong-based company, plans to replace some of the dollars used in the container shipping industry with tokens to be introduced at the opening of the open source public block chain platform. The head of the company said that the container transport industry is a great value of the industry, but has long been struggling in a variety of difficulties, and block the chain of the nature of this trust is not just a good solution to this industry The existence of the problem.n
nnTranslation: Clovern
nHeadquartered in Hong Kong, the company’s 300cubits plan to replace some of the dollars used in the container shipping industry with tokens to be introduced at the APF platform, an open source public chain.n
nThe etherfloft is running a smart contract to the center of the platform, while the smart contract is run entirely in accordance with the programming application, there is no possibility of downtime, review, fraud or third party participation. These applications run on a custom-built block chain, which is a shared global infrastructure that represents ownership of property. It is possible to realize all the functions of Bitcoin when it is a distributed class book. It can also be used as a digital currency, but unlike the bitcoin, the etherbox is highly programmable, so it is designed to accommodate the construction of complex applications.n
nJonathan Lee, co-founder of the company, said:n
nn”300cubits uses the etherfront to solve the problems in container transportation. The container shipping industry is a $ 150 billion industry, but has been in trouble since 2008. Unlike the booking of airlines, container shipping customers will not Have no consequences for the delivery of the goods after the booking, and the industry complained about the lack of trust between the liner and the customer, and we needed the etherless nature of this.n
nnA few weeks later, 300cubits will issue a token called TEU. And the number sold in the initial digital tokens (ICO) will give value to the token. The company will then allocate a portion of the token to the industry practitioner. And the TEU tokens will be used as a deposit deposit for container shipping and may be lost if the customer fails to deliver the goods or the container liner does not ship the goods in accordance with the confirmed booking.n
nLee said:n
nn”Industry practitioners will receive free TEU tokens and will be motivated to use these tokens; they will solve this so-called ‘shell book’ problem, and if they use these tokens, their ownership of the TEU token Their recognition and the daily use of the TEU tokens will further enhance the value of tokens. “n
nnAs a deposit, the value of the TEU token will naturally be tied to the value of the actual freight rate. Therefore, Lee said that the token transaction will be the main indicator of freight rates, which is like a point-to-point container shipping collective forecasting platform.n
nIn the long run, Lee said, TEU tokens is likely to become the container transport industry in the actual use of settlement encryption currency, which is very much like the role of the dollar.n
nn”We think the TEU tokens will be used as the settlement currency for the container shipping industry, which may shift the entire industry transaction or even the entire logistics industry to the chain chain.”n
nnLee was a regional financial director of a bank, proficient in currency, programming, systems and organizational structures. His business partner, Johnson Leung, has a background in the shipping industry and has 20 years of experience in container transportation in the industry. He worked at Maersk Line and worked for investment banking at Jefferies and JP Morgan.n
nIn the first half of this year, Maersk and IBM announced a new partnership to use block-chain technology to help end-to-end supply chain processes digitize and manage paper tracking files for tens of millions of shipping containers worldwide.n

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