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Registration launched for free shipping crypto coins Featured

Shipping cryptocurrency start-up 300cubits has confirmed the launch date for its Shipper Sign-Up Scheme, with relevant stakeholders being invited to register to receive their free TEU crypto tokens from February 1, 2018.

{mprestriction ids="1,2"}The company says it is now inviting all freight forwarders, beneficial cargo owners, non-vessel owning operators and third-party logistics providers to register on its website to request their crypto coins, which have been designed to be used as digital booking deposits.

The TEU tokens will be used as a ‘currency’ for these bookings to solve ‘no show’ issues in the container shipping industry, using smart contract blockchain technology to verify the satisfactory completion of transactions.

300cubits notes that the TEU tokens will be distributed at zero cost to shipping industry participants, and that the use of the tokens requires zero system integration, as a Cloud-based TEU ecosystem is being developed to manage the use of the tokens as booking deposits.

Any TEU ecosystem transaction costs will be calculated and payable in the TEU tokens that have been received for free, meaning transaction costs will also be kept at zero.

20 million TEU tokens will be provided on a ‘first come, first served’ basis to successful registrants after registration closes, with all accepted parties guaranteed a minimum quantity of tokens, the company says.{/mprestriction}

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