Cryptocurrency ‘TEU’ to be introduced in container shipping

 

Img courtesy: facebook.com

 

300cubits, a Hong Kong-based blockchain startup, intends to introduce a cryptocurrency ‘TEU’ with a select group of container shipping lines and freight forwarders receiving the first crypto tokens, from 1 Feb 2018, on a first come first served basis to promote their use as shipping booking deposits. Other than this,

Blockchain cryptocurrency in shipping?

Cryptocurrency has been all the rage in recent news with Bitcoin hitting an all-time high of USD 19,700 odd in mid-Dec ’17 and there on falling to current rates of about USD 10,500 odd in Jan ’18 after hovering around the USD 200 mark around early 2015. Other cryptocurrencies like Ethereum, Litecoin and Ripple have made substantial gains this year as well. But they have mainly been used in trading and used as a mode of payment for few businesses that have started accepting them.

 

Img courtesy: falkvinge.net

 

But now, that is set to change