Scandinavian Launch to track Shipping via Blockchain

A run headed by experienced professionals in the shipping industry is establishing a Blockchain-driven platform
14 May 2018   1262

Blockshipping claims its resolve – that is known as the Global Shared Container Platform (GSCP for short) – has what it takes to address remarkable inefficiencies in the marketplace, providing significant economy for businesses throughout the supply chain and reducing the industry’s toll on the environment. Although being a “hugely valuable” sector, Blockshipping affirms the sphere has been suffered for years by security threats, overcapacity and ever-tightening environmental policies – adding that some problems have stayed unresolved for years.

During a 3-4 year time, the Scandinavian firm intends to have 60 percent market range – equating to 16 million shipping containers – and wishes its utility token will turn of the standard currency for transactions between companies working in the industry.

In some weeks Blockshipping is waiting for announcing 3-4 cooperation contracts with different technology partners who will support Blockshipping in expanding the GSCP platform. Blockshipping has declared a partnership with MakerDAO, the establishers of the Dai stablecoin. The cooperation especially concentrates on the internal clearing and settlement token in the GSCP platform called CPT – Container Platform Token – that aims to be stable at all time. The partnership is supposed to accelerate development and availability of the Blockshipping GSCP by using Maker DAO’s proven Dai Stablecoin System to operate the GSCP platform.

We look forward to a partnership with Blockshipping in developing the best possible solution for transforming the container shipping space, where the Blockshipping solutions on the longer term can be “powered by Dai.” We are eager to show that our stablecoin system is perfectly designed for supply chain projects like Blockshipping’s GSCP platform.
Rune Christensen,
CEO, MakerDAO

Blockshipping claims its GSCP platform has been financed by the Danish Maritime Foundation as well as private angels, but an ICO is being presented to “further accelerate the development and adoption” of the ecosystem.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   246

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.