About 71% of Earth's surface is water covered. Water is the primary life source and water also lead to many wars in the history. Water supporting lives is a known fact but water enhances lives too. Major water bodies are either known as seas or oceans and these play a vital part in connecting areas together. Ever since human development water ways have been a best source of establishing relation among countries. Trading, exchanges of arts, exchange of ideas, were actively done and oceans were chosen as the most efficient routes as it served greater advantages to the travelers. With the advancement of technology, superior modes of transport were designed that improved the ocean based trading.
Till date, ocean based trading is a big contributor to the world's economy. Around 60% of trading done is seaborne hence there is a huge requirement of developing the sector. The most preferred method in seaborne trading is usage of containers. Containers enable a ship to carry wide variety of commodities on a single voyage. Containers though are basic, they revolutionized the shipping industry hence over time it remained irreplaceable. But the present container shipping industry is facing snags that need rectification.
Ships generally face challenges of accommodating huge containers, compromising leads to over-capacity. The sector is generally isn't thrown enough spotlight hence a drop in the rates of the services is often faced. The security threats are huge due to lack of proper water based trading regulations. The growing environmental issues also led to a rise in strict regulations on trading. Thanks to GSCP for staging proper remedies to curb the glitches.
GSCP AS A PLATFORM:
The innovative thought of integrating a powerful technology like Blockchain with a huge potential industry like seaborne trading is something that needs appreciation. The GSCP (Global Shared Container Platform) is powerful industry in the path to revolutionize the traditional container shipping. The GSCP came up with setting up of a registry containing all the details of containers available with real-time tracking. The immutable ledger feature of Blockchain supported this idea thus ensuring security to the precious data. The introduction of Blockchain in the industry also turned payments' processing secured and a direct transfer of amounts can be achieved between traders. Thus GSCP brought a sense of protection to the traders.
The striking feature of maintaining record of all the available empty containers in a separate record assists traders looking for empty containers. Every year huge loses result in inadequate repositioning of empty containers among the firms. The adoption of Triangulation and Street Turn strategies induce efficiency in the trading process.
The strategies devised apart from generating huge economic benefits; the environment concerns of the shipping industry too are restrained. The analysis showed that about 15% of CO2 is reduced with adoption of GSCP for its innovative algorithms to reallocate empty containers. This reduces the production of excessive containers and thus a reduction of CO2 which plays a big role in environmental degradation. Hence the issues of environmental regulations are put an end with GSCP taking over the responsibility. Also including tracking sensors not just help in maintaining a real-time tracking of the containers but also assist in maintaining an eye on containers that involve bankruptcy. GSCP overall creates a safe environment for the traders involving at both the ends.
CONCLUSION:
GSCP is a Danish dream serving the world. Shipping industry often lies in the dim light but proper study reveals that more than half of the share in trading involves shipping industry. This needs an extraordinary development and GSCP proved a good worth. Without disturbing the traditional system, enhancing such that the problems deterring the shipping industry are evacuated, GSCP embarked a new era of Block-Shipping. The powerful industry is enriched with tremendous technology to enable greater adoption of the seaborne trading. Along with financial benefits, the solutions for environmental issues make it more preferable and bringing together a network of containers also includes reduced sourcing. Thus GSCP is a first of its kind that will completely recast the shipping industry.
Website:https://www.blockshipping.io/
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Written By:AlexanderDaniel
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