Shipping Company Developing Tracking Token

Blockchain, Innovation, Interviews, Regulation | August 7, 2017 By:

The container industry’s biggest pain point has always been tracking its shipments and making sure the goods match the contracts. Now, Hong Kong-based 300cubits has created its own ethereum token, TEU, to keep the boxes moving, in hopes of becoming the settlement currency for the shipping industry.

Their hope is that tying shipments to tokens and smart contracts eliminates some of the problems created by using US dollars.

Trade publication The Maritine Executive talked with 300cubits co-founder Johnson Leung about the proposed system. The online site Hacked also offers a biting analysis of the TEU token and the company….