The Blockshipping ICO

The blockchain based GSCP platform is the world's first freight container registry and the first global platform allowing all players in the shipping industry to perform a wide range of transactions related to the handling of containers. The GSCP ICO opens in May, and we are happy to invite you to participate.

The Blockshipping ICO

Blockshipping is launching the first shipping related ICO (Initial Coin Offering) in the Nordic region. The GSCP platform issues two tokens: The internal Container Platform Token (CPT) and the external revenue share token Container Crypto Coin (CCC) issued on the global Ethereum blockchain for the ICO. The internal CPT token will be used by the industry players when utilising the platform for clearing and settlement of transactions between them and is pegged to the US Dollar (USD). These transactions will relate to a variety of services and fees like, ‘container exchange fees’, ‘terminal and depot handling costs’, and ‘fees collected by carriers’.

A percentage of the revenue generated from the transaction fees on the GSCP platform will go to a Revenue Share Pool. Through an innovative revenue sharing model the funds held in the Revenue Share Pool will be passed on to the owners of the CCC tokens in a way that reward both short-term and long-term token owners.

The mechanics are as follows: Blockshipping will exchange the funds in the Revenue Share Pool, i.e. the internal CPT tokens, to Ether (ETH). Thereafter, Blockshipping will use smart contracts to conduct a Reverse Dutch Auction on the global Ethereu Blockchain, i.e. an auction in which Blockshipping will offer the owners of the CCC tokens a price for their tokens. This offered price will increase in fixed intervals during the auction, until the total amount of available Ether is spent.

This way token owners who choose to sell CCC tokens will receive Ether as payment for these tokens. After the auction Blockshipping will distribute all the CCC tokens acquired from the auction to all the owners of external tokens on a pro rata basis. This way CCC token owners will be rewarded regardless of their decision to sell or keep their CCC tokens.

To give further incentive for buying CCC 45% of the raised funds will be kept in a market. maker fund to support the price of the externally traded CCC.

The market fund will support a floor price of CCC and token holders can at any time exchange their CCC to USD at the floor price.

Blockshipping and the GSCP platform are already funded by private angels, and The Danish Maritime Fund (www.dendanskemaritimefond.dk), and the ICO is a natural supplementary funding method for a blockchain based company like Blockshipping.

The ICO pre-sale is scheduled for February 2018 and the public token sale will be

launched in April 2018 (read the complete description of the ICO, incl. roadmap and

token model in chapter 5).

Part of a new ICO framework

The ICO paradigm is radically remodelling project and company funding in a way which offers completely new opportunities for innovative start-ups such as Blockshipping.

A group of Danish experts within law, blockchain, and communications have decided to develop and launch a new ICO framework based on the assumptions that the time is ripe for a new generation of mature, high-quality ICOs which are fully compliant with Danish laws.

The group behind the new ICO framework – The ICO 2.0 Framework – consists of the Danish law firm Schmith(kammeradvokaten.com) and the Nordic fintech consulting company, Norfico (norfico.net).

The development of the framework runs in parallel with Blockshipping’s GSCP ICO and is based partly on experiences from the conducting of the GSCP ICO and partly on the groups findings from observing and analysing the development of the ICO market (read more about the framework in chapter 5 of this white paper).

Legal considerations

Blockshipping has been assisted by the largest law firm in Denmark

Kammeradvokaten/Poul Schmith (“Poul Schmith”) regarding the legal considerations

under Danish law in connection with the issuance of CCC Tokens during the ICO.

Based on Poul Schmith’s understanding of the factual description as stipulated in Poul Schmith’s legal opinion, Poul Schmith is of the opinion that the CCC Tokens do not qualify as financial instruments pursuant to annex 5 of the Danish Financial Business Act (Consolidated Act no. 1140 of 26 September 2017 as amended) (“FBA”) or section 4(1) of the Danish Capital Markets Act (Consolidated Act no. 12 of 8 January 2018) (“CMA”). More specifically, the CCC Tokens do not qualify as (i) shares or securities equivalent to shares, (ii) bonds or any other debt instruments or (iii) options, futures or any other derivative agreements.

Blockshipping has been assisted by the largest law firm in Denmark

Kammeradvokaten/Poul Schmith (“Poul Schmith”) regarding the legal considerations

under Danish law in connection with the issuance of CCC Tokens during the ICO.

For more information and join RAcoin social media at this time please follow some sources for the following references:
Website: https://www.blockshipping.io/
Whitepaper: https://www.blockshipping.io/wp-content/uploads/2018/02/Blockshipping_GSCP_ICO_White_Paper_public.pdf

ANN thread: https://bitcointalk.org/index.php?topic=3502572

Telegram: https://t.me/joinchat/HWi2Gw9VvUw1U5lZObNS2w

Facebook: https://www.facebook.com/blockshipping

Twitter: https://twitter.com/Blockshipping

Author: Foysal Hossain
Bitcointalk Username : bdfoysalhossain
Profil Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1861873