300cubits (TEU) ICO Review – ICO Token News
Problems that lead to the introduction of 300Cubits
Behind every new innovation, there must be an original problem that has led to the present scenario. The creators of the project 300Cubits claim to have the solution to the troubled shipping container industry. There’s no denying the fact that the container shipping sector is drastically losing money. It is also claimed that the industry lacks trust between containers and customers and there is also a level of technical incompetence in the sector.
Once you go through their white paper, you will find exactly the same explanation. However, the truth is that container shipping doesn’t only lack trust between its parties. The shipping container industry has become more complicated. Reportedly, these days there are more ships and less cargo, which has resulted in many companies maximizing co-storage and cooperation in an attempt to cover their supply. There are also issues of overfilling and customer rejections at times. However, there is a chronic fluctuation of freight rates, and consignments are often dishonored and opened, resulting in a lack of trust and accountability in the whole system.
300Cubits may prove to be the solution to all these issues. This is a platform, issuing its proprietary crypto-tokens – known as TEU – to power the shipping container business. They also plan to build trust and credibility between container lines and customers. The TEU has its own ecosystem and the ecosystem includes:
- Consignments: Clients can now book their consignments with the use of TEU as a currency.
- Smart contracts: Allows development with having any coding or programming skills.
- Marketplace: Idle bookings are to be traded with TEU tokens. TEU can also be traded for both ETH and fiat currency.
- Progressive credit agency: The rating system.
This platform is supposed to advance the shipping industry processes by booking deposits. Currently, the shipping industry is not doing well, or you can say, it is not as enriching as say, the airline business. In their case, there are no consequences for booking and then not showing up. This is one of the aspects causing booking failures in regards to cargo ships. On the contrary, cargo liners operate as airlines in certain cases and then let the cargo go unloaded. A deposit is likely to build more credibility on both sides.
The credit agency is tied into 300Cubits solution too, enabling the rating system for the liners and building a customer-oriented marketplace, similar to several other evolved and transformed rental spaces, such as Turo, Uber, AirBNB, etc.
Purpose and benefits of TEU
The Twenty-foot Equivalent Unit (TEU) is to be used by both parties, liners, and customers. This has been actually developed for creating reliability as both the groups will be effectively using TEU coins as deposit/collateral. In case the consumer happens to not bring any consignment, or the container liner misses to load the cargo, the next party will receive all the tokens, which means getting highly paid. Before investing in any ICO investor should have a good knowledge of current trend on ICO Stats which helps them to know about the best ICOs to invest in.
At the initiating stage, a certain amount of TEU tokens are supplied for free to the container liners, and of course, to their customers as well. This is simply an attempt to inject more capital into the project. Eventually, the TEU rises and falls along with the rates of freight. This is further to curtail the requirement for contract re-opening, and also outlines a case that offers a solid reason behind the adoption of this token, instead of ETH or BTC. If you study their white paper, you will find that the entire shipping container industry can make their daily transactions with TEU. Also, it is necessary to keep regular updates on ICOs by checking from ICO list. If you need more information about ICO then ICO beginners guide will help you.
Is TEU/300Cubits a better solution than others available in the current market?
- 300cubits has been launched to render a use-case for digital money and blockchain within the industry of container shipping. This once multi-million-dollar industry is facing a financial crisis due to issues such as broken consumer contracts, overbooking, and highly volatile rates.
- This blockchain project (tokens such as Moneto, Flux, Freezone) introduces a solution that is believed to facilitate the shipping industry with the issuance of a proprietary cryptocurrency,TEU, which would further serve as a kind of booking deposit by both freight liners and consumers. This will also make an economic ecosystem, concentrated around TEU.
- The project does not own any code or yet have a prototype. This is because they have hardly any experience in operating on blockchain technology. This soon-to-happen ICO is looking forward to crowdfunding to fill these important gaps.
- Unlike many, their free market ICO pricing breakdown makes it hard to estimate the company’s revenue or even gauge the token worth at a time.
Should you invest in the TEU ICO?
The TEU tokens are offered for free to freight liners and customers as it is believed to create advanced industry practice and increase demand for the TEU tokens. This project has the most brilliant management team with hands-on skills and they take pride in their expertise in shipping, cryptocurrency and the development of such systems. 300cubits offers a perfect solution to the financially struggling industry of container shipping. The cargo shipping industry might be in trouble, but with the integration of 300cubits, the problem is more likely to be solved. The company further claims to be offering competitive solutions as TEU tokens can be exchanged with fiat currency and also it is shown to have immense usage potential. More so, quite different to other relevant solutions, 300cubits is an easily implemented system. Nowadays most of the companies use airdrop to promote their ICOs.
How does the 300cubit work?
This new innovation seeks to resolve serious difficulties in the global shipping industry. And, to do that, the plan must include two more solutions:
- The switching of critical business processes onto the blockchain network and once the agreement is moved to the blockchain network, it becomes immutable.
- The project issues proprietary coins, called TEU coins, to power every transaction and employment within the ecosystem.
300cubit’s token sale is scheduled to begin on August 16, 2018 (pre-sale) with the main token sale to be held in upcoming September and October 2018. Perhaps the most substantial goal of the project is to enable users to easily handle their container shipping trades and bookings. In case a factory is aware of the fact that it will not be allowed to plug in a specific shipment in time, for instance, the factory could actually trade that booking on the parent company 300cubits’ marketplace with TEU tokens. The ICO countdown has already started for many tokens.
Below are the exclusive features of 300cubits
The project plans to implement the following features as soon as it is launched.
- Smart contract developer: This feature is basically to enable users to develop smart contracts, irrespective of what experience and technical skills they have. Users do not really have to know coding or have any programming skills, but they can still build their own smart contracts.
- The booking module: Clients can make bookings for shipments by simply using TEU tokens as a deposit.
- Rating system: 300Cubits is going to have a credit rating system, which turns out to be one of the best platforms for users to be identified and recognized. These ratings are to be based on previous booking performance.
- Marketplace: Bookings that have not been used are to be traded for either ETH or USD.
Who is working behind 300cubits?
The project is being led by some of the greatest of minds of recent times. According to their white paper, their founders have over 50 years of experience in the banking and shipping industries. Their team is known to have extensive skills and expertise in container shipping globally. 300Cubits is based out of Hong Kong.
The pre-sale will commence in August 2018, and they have already scheduled their main token sale for September to October 2018. In case, you are wondering on how to invest in the ICO, the details are below:
- Token: TEU.
- Price: 1 TEU = 0.0025 ETH.
- Bonus: Available.
- Bounty: Available.
- Platform: Ethereum.
- Accepting: ETH, BTC.
- Minimum investment: 0.1 ETH.
- Hard cap: USD12,000,000.
- Country: Hong Kong.
- Whitelist/KYC: KYC & Whitelist.
- Restricted areas: USA, China.
Participants are allowed to buy TEU tokens in exchange for ETH and these tokens are ERC20 standard developed on Ethereum (similar to other tokens such as Iagon, Bunnytoken, SmartO). While these tokens are meant to play a substantial role in the ecosystem of 300cubits, they also have the objective of getting the de facto digital money for container shipping marketplace. With such of an industry-centric goal in mind, the parent comes to launch for modules in order to boost the adoption of the tokens across the industry.
By far, the entire project appears to be a very ambitious, highly useful, and of course, a sustainable business. This is likely to disrupt the conventional shipping industry. TEU tokens have been programmed in way that they can become de facto currency for the offshore shipping industry.
- Johnson Leung(Co-founder) - Johnson has a combined 20 years of experience in container shipping (Maersk), port investments (Hutchison), and sell-side equity research coverage (JP Morgan, Jeffries) of the shipping industry.
- Jonathan Lee(Co-founder) -
Jonathan has a combined 20 years experience in banking as head of Treasury and dealing at several banks including China Construction Bank, Coutts & Co, Shanghai Pudong Development Bank and UBP.
- Eugene Kim(Co-founder) - Eugene has 20 years experience in database technology and investment banking and most recently managed the fixed income middle office at Morgan Stanley Hong Kong.
- Tim Choy(Project Manager) -
Seasoned IT professional in providing project management, IT solutions delivery and technical consultancy. (Seconded from Kinetix System)
- Hong Chan(Solution Architect) -
A seasoned Solution Architect in IT industry where he drives the entire development team with the best available technology. (Seconded from Kinetix System)
- Kant Chan(System Analyst) -
A seasoned System Analyst in IT industry and a FinTech specialist. (Seconded from Kinetix System)
- David Yeung(Ex CEO of AIG Capital Partner)
David currently serves as the independent investment committee member of the $1.2 billion IFC Global Infrastructure Fund and previously spent 17 years with AIG Global Investment as President and CEO of AIG Capital Partners.
- Kai Lung Hui(Chair Professor of HKUST) - Kai-Lung Hui is a chair professor in the Department of Information Systems, Business Statistics, and Operations Management at the Hong Kong University of Science and Technology.
- Thomas Eskesen(Eskesen Advisory) -
Thomas Eskesen currently runs Eskesen Advisory, and previously worked for the AP Moller / Maersk Organisation for almost 30 years. He ran Maersk’s Refrigerated Cargo division and founded Inttra, the container shipping industry’s largest common booking portal.
- 101.2018WEBSITE RE-LAUNCH
- 201.2018SHIPPER SIGN-UP ANNOUNCEMENT DATE
- 302.2018SHIPPER SIGN-UP START DATE
- 403.2018LIVE TRIAL OF TEU DEPOSIT BOOKING
- 503.2018TPM LONG BEACH CONFERENCE
- 605.2018SYSTEM BETA
- 706.2018SYSTEM LIVE
- 807.2018SHIPPER SIGN-UP END DATE
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