In the latest effort to continue this expansion, the Prime Shipping Foundation has announced its intention to launch its cryptocurrency for use in the shipping industry.
A partnership between financial planning company Quorum Capital Ltd and ship broker Interchart LLC, Prime Shipping Foundation has already made considerable inroads in bringing cryptocurrency into the shipping and food trading industry late last year.
In December 2017, Prime Shipping became the first to settle a freight deal in bitcoin, accepting payment in the leading cryptocurrency for the 3,000 tons of wheat that it shipped from Russia to Turkey.
I just read this new, and start thinking what is the effect of this to BTC and other crypto's.
Heres the whole link:
https://btcmanager.com/prime-shipping-foundation-aims-bring-cryptocurrency-shipping-business/While this is good news that would mean crypto currency breaking new barriers and moving new directions, I am not still convinced launching new crypto currency in that regard is what is needed. The claim that the crypto currency needs to be used in the shipping industry is far from being realised because a company cannot decide what currency to be used in the industry that is the function of government and the shipping industry with lots of regulation and a huge source of revenue for the government.
I would be more comfortable if the objective is about creating a software based on the blockchain on how its going to be used to achieve efficiency in the shipping industry. Its when that is achieved that crypto currency on that network can then be propagated.