ShipChain Contract is an Ethereum-based EVM smart contract. The Ethereum virtual machine (EVM) is a powerful virtual stack embedded within each full Ethereum node. Shipchain (SHIP), a platform based on the Ethereum blockchain, seeks to be be used and duplicated by anyone for the orchestration of a shipping escrow on the distributed ledger. Besides, the overall shipment completion is stored on the Ethereum blockchain. The platform seeks to facilitate the tracking of load across multiple carriers. Moreover, the Shipchain platform aims to allow for unified tracking across entire supply chains.

ShipChain was created with the mission to solve the problems such as bad tracking, lack of transparency, and misaligned incentives in the logistics industry. The platform seeks to offer a solution by delivering an integrated system across the entire supply chain. The ShipChain platform seeks to leverage blockchain technology to facilitate the digitization of record-keeping processes that are related to the trade of assets. The blockchain aims to improve the transportation of commodities across the entire globe. Moreover, ShipChain is committed to making the world a better place by protecting the environment from the detrimental effects of greenhouse gas emissions.

As mentioned in the whitepaper, the main features of ShipChain include transparency in tracking and asset security. The ShipChain platform aims to allow carriers to communicate with ease. Furthermore, shippers seek to have more visibility across their supply chain on the platform. Also, the platform seeks to help to reduce delays and miscommunications.

SHIP is the native token of the ShipChain platform. Ownership of a minimum of one SHIP token provides the users of the platform with a “ShipChain Membership Status.” Besides, the users can pay for transactions in the platform using the SHIP token. The platform users can either purchase tokens from ShipChain or pay directly in tokens they hold for booking freight.

According to the roadmap mentioned in the whitepaper of ShipChain, the platform development took place in several stages. The presale event was completed in the Q4 stage of 2017. Tokens were distributed in the Q1 stage of 2018. The initial Track and Trace platform was integrated with government-mandated ELD devices in the Q2 stage of 2018. Further, in 2019, air and sea freight pilot programs were initiated. Subsequently, in 2020, community open-source projects were sponsored for accelerating application development on the ShipChain blockchain.

John Monarch is the founder and CEO of ShipChain. He is intimately familiar with all aspects of the logistics industry. Lee Bailey, a renowned full-stack developer, blockchain consultant, and entrepreneur, is the chief technical officer (CTO) of ShipChain.

We update our ShipChain to GBP currency in real-time. Get the live price of ShipChain on Coinbase.