MakerDAO and Blockshipping Collaborate to Transform the Global Container Shipping Industry

MakerDAO, creators of the Dai stablecoin, and Blockshipping, creators of the Global Shared Container Platform, (GSCP), are working together to transform the global container shipping industry, enabling significant savings in cost and CO2 emissions. The partnership is expected to accelerate development and availability of the Blockshipping GSCP by leveraging Maker DAO’s proven Dai Stablecoin System to power the GSCP platform. 

Copenhagen, May 11, 2018 – MakerDAO and Blockshipping today announce a partnership to collaborate on transforming a critical part of the global supply chain industry – the container shipping industry. 

Blockshipping is developing the blockchain based GSCP platform, which will be both the first global registry of the world’s approximately 27 million shipping containers and a joint platform for all players in the container shipping industry – allowing them to efficiently conduct a wide range of transactions related to the handling of shipping containers globally. Elements of the GSCP platform will utilize Maker’s proven Dai Stablecoin system.

The GSCP platform has the potential to reduce costs for the global shipping industry to the tune of USD $5.7 billion annually and reduce the global CO2 emission by more than 4.6 million tons every year.

Accelerating the Platform Development

Blockshipping’s CEO, Peter Ludvigsen, is pleased with the prospect of accelerating the development of the GSCP platform through a collaboration with MakerDAO:

We believe that there is huge potential value in what Dai the stablecoin will bring to the GSCP platform. Leveraging Maker’s Dai Stablecoin System will enable Blockshipping to increase the pace of development of the GSCP platform and reduce time to market.

Rune Christensen, CEO of MakerDAO, sees a lot of possible benefits to Blockshipping by using the Dai Stability System to power the GSCP platform.

We look forward to a partnership with Blockshipping in developing the best possible solution for transforming the container shipping space, where the Blockshipping solutions on the longer term can be “powered by Dai. We are very eager to show that our stablecoin system is perfectly designed for supply chain projects like Blockshipping’s GSCP platform.

Eliminating Volatility

The MakerDAO Stablecoin System has created a digital currency, Dai, which is soft-pegged to the US dollar, bringing stability to the blockchain economy and enabling transaction in cryptocurrencies. Unlike other stablecoin systems, the Maker platform is backed by collateral, using smart contracts to always ensure the right balance between the amount of Dai and the collateral backing the issued Dai. It is a decentralized infrastructure without a central operator.

Launched in December 2017, the beta Dai Stablecoin System accepts Ether (ETH) as collateral but will introduce multi-collateral options this summer. As the platform evolves, there will be increased support for collateral types, including tokenized commodities and, in theory, even a batch of bicycles in a container or the shipping containers themselves could be tokenized and used as collateral for issuing Dai on MakerDAO’s platform. More information can be found at www.makerdao.com.

Common Scandinavian Origin

Both MakerDAO and Blockshipping offer global platforms and works internationally, yet both companies have distinct Scandinavian origins and Danish founders and CEOs. This common cultural heritage makes for a shared focus on common values of trust and transparency.

Blockshipping is currently working out of Copenhagen, and MakerDAO, who already have five offices around the world, is exploring a possible relocation of its headquarters to Copenhagen within the next year.

For more information, please contact:

Michael Juul Rugaard
E-mail: michael@blockshipping.io
Telephone: +45 44 40 31 32

Søren Peter Nielsen
E-mail: soren@makerdao.com
Telephone: +45 60 62 17 41

What are your thoughts on the new collaboration? How will MakerDAO’s Dai Stablecoin benefit the GCSP platform? Let us know in the comments below.

Images courtesy of Pixabay, PxHere