From ancient times goods have been transported from the countryside to big cities and towns and vice versa. Goods also have been traded with neighboring and distant countries. The best example is the ancient Silk-Route. The Silk-route made use of different modes of transportation according to the region. While in some places camels were used to transport goods in the form of caravans, in coastal areas ships were the preferred mode of transportation.
Transportation of goods is a broad term which includes several kinds of activities and modes of transportation. Moving raw materials from mines or forest areas to factories, transporting the finished goods to markets, distribution of goods to various consumer centers worldwide are just some of the activities that come under the category.
Think about the greatness of the logistics industry. Looking back through history, the wheel is basically the foundation of modern civilization. It brought us transportation, and transportation afforded us the deliberate exchange of merchandise. From homestead to market, and from market to table, the movement of products in mass has been the absolute most essential adaptation of the most recent 10,000 years.
The movement of products impacts everyday life for individuals around the globe at a stunning scale. For extra point of view, here are some details:
- The global market’s value was $8.1 trillion in 2015 and is relied upon to grow to $15.5 trillion by 2023, making it one of the biggest enterprises on the planet.
- 55 billion tons of cargo was transported in 2015, with anticipated that growth to 92 billion tons by 2024.
- In the United States, cargo and logistics spend in 2015 totaled $1.48 trillion, about 10% of the nation’s GDP.
ShipChain was established with the mission of solving the greatest issues confronting the logistics industry today. Our solution requires deep technology, yet our vision is very straightforward. Imagine a fully integrated system across the entire supply chain from the moment it leaves the factory, field, or farm to delivering the finished product to the customer’s doorstep; combined in trustless, transparent blockchain contracts. This is ShipChain, the future of shipping.
Tracking and Transparency
ShipChain will unify shipment tracking across the Ethereum blockchain, utilizing our ShipChain side-chain to track individual encrypted geographic waypoints across each smart contract. With this framework, the importance of each waypoint will be encrypted, accessible for interpretation by only the parties involved. This will give shippers greater visibility over their supply chain and enable transporters to communicate effortlessly, lessening delays and miscommunications. Information about loads, geo-waypoints, and essential consistency information will be recorded and publicly validated within the sidechain. Upon delivery and confirmation, the agreement will be completed and recorded on the main blockchain, releasing any payment escrows.
How It Works Today
The way toward shipping freight can occur across many channels, including air, sea, rail, or truck. Four major entities make up the lifecycle of any shipment, regardless of the channel being used.
Shippers are the clients of the logistics services; they are the actors who have freight and need it transported.
- Shippers don’t want to coordinate multiple drivers
- They don’t want logistics headaches
Brokers coordinate carriers to organize multimodal orders
- Brokers act as the gatekeepers of the industry
- They choose combinations of reputable carriers
Carriers provide freight transportation services
- Carriers may be rail, air, sea, truck, or other
- Most carriers only handle one segment of a trip
Drivers are the operators of a single vehicle in a fleet
- Some are “owner-operators” acting also as Carriers
- Sometimes handoffs lack accountability
- Drivers can lose or damage goods
- No Accountability
- Bad Tracking
- Lack of Transparency
- Middleman Markup
- Misaligned Incentives
The Ship Token
Ownership for slightest 1 full SHIP token grants “ShipChain Membership Status.” This is required to get to the blockchain for both the purpose of tracking shipments and the purpose of booking freight.
Transactions on the blockchain for freight shipments will be paid in tokens and settled in tokens. The ShipChain Web platform connecting with the blockchain will enable clients to pay either directly in tokens they hold, or buy tokens from ShipChain for booking freight (permitting, for instance, USD, EUR or digital currency payment). ShipChain will work to go into listing agreements with exchanges to consider the simplicity of liquidity and settlement of SHIP tokens into other currencies.
Tokens valued at up to 20% of each freight transaction will be given to the driver/transporter as “gamified” incentives for safe and timely deliveries, for example, as well as environment focused such as reduced idle time. From that point, drivers will either have the capacity to offer their tokens on exchanges, or reclaim those tokens by means of partnerships ShipChain will form for various rewards, for example, gift vouchers, fuel rebates, and more.
Initial Token Generation Event
The issues ShipChain will handle are fundamental to a multi-trillion dollar industry, one historically slow moving and resistant to change. We have plans for delivering our offering on our present funding, however, breathing life into our full vision is a gigantic undertaking and would be best served by opening ourselves to outside funding. In this manner, we are running a Token Generation Event or “TGE” to offer an underlying supply of our tokens with a specific end goal to kick off the ShipChain economy and supplement funding to enable us deliver the best product possible.
This ‘TGE’ will occur in various phases, including Pre-Sale, Sale 1, and Sale 2. Pre-Sale and Sale 1 will occur immediately, ending after January 2018. Sale 2 will occur upon the completion of several milestones, including the live use of our web platform, version 1.0 of our full tracking system, and generation of live revenues with genuine customer shipments. We anticipate Sale 2 will occur between 1-2 years after Sale 1.