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Possessing a ship has always been an activity of the few and the privileged. In older times, it was the Captain who had a ship. With the commerce sector expanding randomly in the last century due to technological advancement, capital requirements and a need to have technical know-how of the shipping industry means only a selected and powerful people can even afford to be in the industry — Shipowner.io wishes to change this.
Clogged Artery Of The Seas
Shipping Industry is one of the most lucrative in the world. The immense volume of raw material and finished products moving around the world amounts to nearly a $19,000,000,000 a year in services with ship assets in excess of $1.5 trillion. Yet, it faces inefficiencies due to:
- Transactional complexities due to operating in different jurisdictions.
- Lack of liquidity.
- Bureaucratic red tape.
- Lack of transparency in multi intermediary setup.
- Financial constraints.
All of these lead to an unnatural rise in cost of shipping and the end consumer eventually bears the burden due to increased cost of goods.
How Shipowner Changes This
The seas were never meant to be controlled. The sea was meant to be sailed- Jon Acuff
This defines the philosophy of Shipowner. The ever increasing usage of Blockchain technology has sailed into the marine business. Shipowner intends to solve the existing issues in maritime sector by:
- Ensuring Transparency: One of Blockchain technology’s greatest characteristic is transparency in data transmission. The means that any and all matter of data transfer (trade terms, monetary transactions, costs etc.) will be open and transparent, allowing increased confidence by financial backers.
- Removal of Intermediaries: Using the power of smart contracts to automatically execute monetary and other trade terms, the complexity of multiple middlemen is eliminated.
- Financing Through The Platform: With the platform’s own token, financing will be a breeze as backers will only need to acquire the tokens and not get bogged down by traditional banking methods of opening Letter of Credits and guarantees.
- Immediate Liquidity: The token earned through backing certain initiatives or taking part in a business in the marine industry will be immediately available for liquidation, should the need arise.
Shipping For All
A small skiff has the same rights to fair winds and smooth seas as a mighty galleon- Anonymous
Traditionally the ownership of a selected few, big and powerful corporations, Shipowner.io allows small firms and individual to take a slice of the pie. This is achieved by breaking down the shipping structure in to tiny parts, compared to the current model where traditional business routes mean million of dollars per leg of the trade. The small parts, coupled with online decentralization allows anyone, anywhere to take participate in one or more of the parts, opening up the closed shipping industry for the masses.
Sailing On A SHIP
Shipowner.io is an Ethereum based P2P network that runs its finances through its native ERC20 compliant token, SHIP. Using this token will enable immediate transfer of assets and money. The SHIP is hard capped at 15,000,000,000 tokens. 825,000,000 are reserved for phased token generation events, while 450,000,000 SHIPS are sanctioned for reserves and early adopters.
To know more about Shipowner, visit their website: https://shipowner.io/
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The post Bringing Marine Ownership to the Masses: ShipOwner, Distributed Marine Ledger Platform appeared first on Crypto Currency Online.
from Crypto Currency Online https://cryptocurrencyonline.co/bringing-marine-ownership-to-the-masses-shipowner-distributed-marine-ledger-platform/