What is ShipNEXT?
Blockchain, as a technology, was introduced in 2009, at the same time as “Bitcoin” and the widespread notion of a “distributed ledger”. It is from that point, that businesses have worked to introduce Blockchain in numerous industries and sectors. Transport and Logistics – is one such industry.
What if all logistics industry players become interconnected within a decentralized ecosystem, allowing them to interact directly and instantly with each other in a trustless and frictionless manner across the entire supply chain? Image if a customer purchasing a product triggers the whole supply chain, working in a single algorithm, matching suppliers of raw material, unfinished and finished goods through an automated, digital and real-time, blockchain based supply chain.
Our current centralized shipping marketplace is the first step towards this end goal, the foundation which will allow us to build the rest of the algorithm-based supply chain on, because 80% of the trade is moved by the sea, and it is maritime transportation, that trucking, railroad and air are heavily depend on.
This is the ecosystem that will be the foundation for a newly energized, intelligent shipping and logistics industry, that will be constantly evolving and learning, powering innovations and bringing further technologies to life, alleviating inefficiencies and easing cross-border transactions. The ecosystem that will be based on open unified protocols that are highly scalable without any single point of failure.
This will be SHIPNEXT version 2 – fully integrated ecosystem across the entire supply chain, grounded in transparent, trustless and instant operations, safeguarded by smart contracts backed with escrows, powered by decentralized computing capacities all around the globe, where consensus on transactions validity is achieved by delegated Proof of Stake algorithms.
In addition to connecting top industry players, such as ship owners, ports, cargo owners, SHIPNEXT will also connect other service providers, including banks, insurance companies, shipping service market, that is estimated to be worth over $1 trillion per annum.
SHIPNEXT mission is developing cutting edge technology to facilitate direct, instant and trustless interaction between the players in the global logistics industry, enabling further increases in transparency and efficiency, decrease in commodity costs, and providing token holders with a clear incentive to buy and hold tokens, with superior liquidity.