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...
https://theloadstar.com/low-take-up-forces-shipping-cryptocurrency-teu-token-out-of-circulation/