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First Transaction for Bitcoin of the Shipping Industry

March 19, 2018

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Hong Kong-based blockchain solution provider 300cubits has completed the first trial shipment in its smart contract deployed on the Ethereum blockchain, the company said.

Malaysia’s liner company West Port and, LPR, a Brazilian textile importer participated in the trial.

300cubits has introduced TEU tokens, described as the ” bitcoin of the shipping industry”, as a tool for solving the no-show bookings. The tool is a blockchain-based shipping deposit aimed at enforcing contracts.

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