Low take-up forces shipping cryptocurrency teu token out of circulation

Hong Kong-based start-up 300cubits will suspend its container shipping cryptocurrency tomorrow, as the industry enters “crunch time” for freight-tech.
In 2017, the firm set out to solve container shipping’s “booking shortfall”, a $23bn problem created by five million teu of ‘no show’ and ‘rolled’ cargo every year.
By introducing a booking deposit in the form of the teu token, a cryptocurrency based on the Ethereum blockchain network, 300cubits hoped to help eliminate the …

The post Low take-up forces shipping cryptocurrency teu token out of circulation appeared first on The Loadstar.

Source: The Loadstar

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