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World's smartest port': How IBM plans to digitize Port of Rotterdam; TEU tokens as container shipping's cyrptocurrency

World's smartest port': How IBM plans to digitize Port of Rotterdam
Kate Patrick Jan. 31, 2018

Dive Brief:

IBM will install IoT sensors, AI technology, and use smart weather data to help the Port of Rotterdam become safer and more efficient.
The digitization of the port will allow for autonomous ships, "as well as process and ship metal 3-D-printed ship components on demand in future," according to a press release emailed to Supply Chain Dive.
IBM and the Port of Rotterdam say the digitization will save shipping companies "up to one hour in berthing time, which can amount to about $80,000 per hour in savings."


TEU tokens – first cryptocurrency for container shipping is launched
Gavin van Marle 31/01/2018

Container shipping could see the first widespread use of a cryptocurrency this week.

Hong Kong-based blockchain developer ETH Smart Contract Tech will tomorrow start handing out its bespoke TEU tokens to shippers, forwarders and 3PLs under its 300cubits project.

The company will release some 20m TEU tokens, “custom-designed as digital shipping booking deposits, using smart contract blockchain technology, to solve the no-show and rolling problems plaguing the container shipping industry”, to container line customers for free – but on a first-come-first basis.

Interested shippers and forwarders need to demonstrate their eligibility for 300cubits, and are currently restricted to those that bought slots in 2016.

After passing the eligibility test, container line customers will allocated TEU tokens based on how much they have spent with the lines, which cumulatively saw sales of $150bn in 2016.