Major Problems Affecting The Shipping Industry And BLOCKSHIPPING Approach To Solving Them

The shipping industry carries out most of the world trade. Without shipping, the importation and export of some vital goods won’t be possible. Despite all these benefits, this space still faces some major problems. In every industry, there’s always some challenges faced. It could be either human factor, environmental factor or machine factor. One major way of overcoming or staying above challenges is identifying it and proffering solutions to it. Blokshipping has looked at the current shipping industry and has identified some of the problems the industry is facing and is here to help solve them.

First, I would want us to look at these problems. Overcapacity, low freight rate, security threats, environmental regulations, and paperwork errors are most dominant. Most times while entering order details, one or two letters might be missed in either the recipient name or address. This is because a lot of paper works needs to be processed and filled by humans into the computer database and most times, it could get misplaced or mismatched.

While processing shipped items, a typo might occur in an address or names of recipients and this single error leads to customs brokers not having proper information about a given package and it could get delivered to the wrong person. I can relate to this as goods my in-law shipped once was switched because of wrong address and another person’s package was delivered to us. Now let’s assume this other person’s package was a vital high security or health-related details, by just this single mistake, such documents have entered the wrong hands which shouldn’t have been so assuming proper care and proper facilities were used while processing the shipment.
Also, the issue of non-accountability of containers location at a given point in time poses a big challenge to the shipping industry and owners of such containers. Shipping containers, can’t be accounted for in the real time that is information with regards to the location of a container is not known.

Now how does Blockshipping plan to solve the problems highlighted above?

The shipping industry needs more efficiency, coupled with digital transformation. This is to help the industry maximize profit and comply with environmental regulations in the future.

Through the blockchain, every item shipped is recorded and upon delivery, its verified through the blockchain and because blockchain transactions are immutable, there’s every certainty that items will never be mismatched or delivered to the wrong address. Because these items are registered on the blockchain, it’s easy to know when items change hands and to also track where it is.

Blockshipping is providing the industry the opportunity to have a central registry where all freight activities can easily be registered and referred to as the need arises not only freight activities are registered, owners of various containers are also registered alongside their containers. Also with the use of modern sensors, Blockshipping will ensure that no empty container is moved around unnecessarily. This will ensure that empty containers are considered and can be used by anyone on the platform who have the need for it. Not only this, Blockshipping is also providing a payment solution where payments will be made using the Blockshipping tokens.”>

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