SHIP, found online at Shipowner.io, claims to be the world’s first distributed ledger platform focused on maritime assets – like ships. Find out how it works today in our review.
What Is Shipowner?
Shipowner aims to bring blockchain to the world of maritime assets and services using SHIP tokens. By holding SHIP tokens, you can participate in the maritime industry around the world.
Ship owners, meanwhile, can “tokenize” their maritime assets, selling sections of their ship in the form of tokens, then allowing those sections of the ship to be ought and sold as easily as any digital currency.
A token sale for SHIP tokens begins on March 7, 2018.
Is Shipowner.io worth an investment? How exactly do digital tokens allow you to purchase ships? Keep reading to find out more.
What Problems Does Shipowner Seek to Solve?
The global freight shipping industry is controlled by a few major corporations. Too few people control the majority of the industry.
At the same time, transactions within the industry are filled with trust problems. If you want to ship goods from Japan to the United States, for example, then you need to trust that the other party will pay you upon delivery of the goods. At the same time, the person paying for the goods needs to trust that the goods will be delivered safely and on time.
The Shipowner team believes it can solve these problems using blockchain technology.
How Does Shipowner.io Work?
Shipowner.io uses “cutting edge blockchain technology” to revolutionize the global shipping industry. The platform is catered to sailors, ship owners, ship agents, and investors, including those with $100 to invest or $100 million.
With Shipowner.io, anyone, anywhere, at anytime can be a ship owner by buying SHIP tokens.
The key concept behind Shipowner.io is that ships will be tokenized and sold in fractions. Some ship owners might tokenize a certain portion of their ship – like a part of the cargo hold or mezzanine, for example. Other ship owners might tokenize the entire asset.
Shipowner.io plans to tokenize more than just ships: the company will also tokenize maritime services, including marine training services, ship agency services, ship management, and more.
The end result of this system is a platform where you can use ships, buy ships, and exchange ships through the use of SHIP tokens.
The Shipowner SHIPs ICO Token Sale
Shipowner.io is created a total supply of 1.5 billion SHIP tokens. Of those tokens, 825 million will be sold through phased sales, with the remaining tokens going towards a reserve fund and early adopters (450 million), and development, team, and partners (225 million).
Shipowner.io has separated its token sale into four phases based on nautical terms, including:
- Officer of Watch: 1 ETH = 500 SHIPs (25 million SHIPs will be sold)
- Lieutenant: 1 ETH = 475 SHIPs (175 million)
- Master & Commander: 1 ETH = 450 SHIPs (275 million)
- Fleet Admiral: 1 ETH = 425 SHIPs (350 million)
Shipowner Features and Benefits
Some of the advertised features and benefits of Shipowner.io and the SHIP ecosystem include:
Global shipping isn’t typically very liquid. Ships are massive assets that cannot be sold overnight on a whim. Shipowner.io wants to introduce liquidity to a space that has previously been illiquid.
Marine assets and services are tokenized, priced in stable SHIPs, and freely tradeable on the platform to ensure fully transparent price discovery.
Accessibility & Diversification:
Marine assets and services are denominated in fully divisible SHIPs, which enables any users, without discrimination, to participate and enjoy the benefits of diversification.
A solid legal structure along with blockchain technology ensures tamper-proof decentralized storage of records and guaranteed enforcement of contracts.
Immutability & Security:
Shipowner.io will settle transactions on the blockchain, making them impossible to modify. This will eliminate disputes, improve transaction efficiency, and reduce costs compared to traditional transaction methods.
Shipowner.io will reduce costs dramatically “by eliminating unnecessary intermediaries and distributing costs in a fair manner on a fractionalized basis.”
Who’s Behind Shipowner?
Shipowner was launched by former GE Capital and DVB Bank executives.
Key members of the Shipowner.io team include Mitul Dave (Strategy & Vision Implementation), Erdal Uludag (Assets & Services Management), Vinil Gupta (Marketing & Stakeholder Engagement), and Tejas Desai (Blockchain & Enterprise Infrastructure).
Prior to launching Shipowner.io, Mitul Dave and Erdal Uludag were best-known as co-founders of the Alphaseas Group. Both previously worked at GE Capital and DVB Transport.
The Shipowner.io team was formed in May 2017. A prototype version was released in July 2017. By Q2 2018, the company hopes to open its maritime marketplace (soon after the token sale is complete). By Q1 2025, the platform hopes to be processing 5% of global maritime market transactions.
The company first started making headlines online in February 2018 when they issued a flurry of press releases and began their marketing campaign. Shipowner.io lists its parent company as Universal Exchange Services Limited, a London-based organization.
Shipowner SHIPs ICO Conclusion
Shipowner SHIPs aims to tokenize the global shipping industry using Ship Industry Participation tokens (SHIPs) and blockchain infrastructure. Ship owners and other market participants will be able to tokenize maritime assets and services.
To learn more about the platform, visit online today at Shipowner.io. The token sale for SHIP tokens is underway throughout Q1 2018.