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Author Topic: TEU – the shipping crypto currency - bounty announced  (Read 9550 times)
litcoi
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TEU Pre-ICO: 16-Aug – 20-Sep 2017


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September 15, 2017, 09:05:06 AM
 #181





NYSHEX is not our competitor. We are potential [my emphasis] collaborators. I would say my competitors are banks who issue the bank guarantee.  






NYSHEX is not our competitor. We are collaborators. I would say my competitors are banks who issue the bank guarantee. 
[/size][/font]


Will you be coming with an official statement joint with NYSHEX that you are now collaborating?

freightjoe, this is disingenuous. You quoted the poster 300cubits and erased the word "potential", then act as if the post declared a collaboration with NYSHEX. Shame on you.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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litcoi
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September 15, 2017, 09:16:34 AM
 #182


3. Is it possible that the shipping industry itself will support your ICO sale since if everyone chips in a bit for the "capital injection", the ship can set sail easier, so to speak? Will you then consider suggesting that they buy some low priced TEU "coupons" for use as deposit?

4. Even if the TEU token is low-priced, maybe it can serve as a signal of trustworthiness, since the record of faith-keeping/promise-breaking will be in the blockchain. Are you highlighting this?

5. Who are your code developers?

6. You mentioned, I think, VC funding. Will it be better to get them to buy the token instead of fiat injection?

All the best and hoping to hear from you soon.

Hi, please see if you can provide answers to the above.



3. Shipping companies tend to support the development via traditional equities channels in developing the TEU ecosystems instead of buying TEU tokens directly since the concept is relative new to them. They will consider but traditional investment in platform in form of equities is the preferred channel.

4. Everyone do not mind using low-priced token to start with. In fact, the initial penetration is low and even if TEU is price at $0.2, everyone can use 10K unit of TEU to secure a booking. It is a learning curve on adoption and during the course of adoption, TEU token value will go up. And in any case, shipping companies do not care the value of TEU but they want to solve the problem of ghost booking. No matter whatever proposed solutions, they will try and hope any solutions (or combined) can help them reduce or solve the ghost booking pain point.

5. We are discussing with 2 firms for production development and currently all coding is done in house. You can audit the codes of our crowdsale and token contract in github.

6. Similar to shipping companies, it is relative new to them and with recent news on ICO from regulators, the route of equities funding is more a likely route.

Thank you for your support.



Thanks for replies. Wendy Xiao Schadeck has written in Medium about how when the value of the token rises, the use drops as people hoard. The $20 million dollar pizza problem. This may be a while away for TEU but something to bear in mind.


TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 15, 2017, 09:20:01 AM
 #183


NYSHEX is not our competitor. We are potential collaborators. I would say my competitors are banks who issue the bank guarantee.  
[/color][/size][/font]


How do you envision forward contracts working with TEU? Reading on NYSHEX and from what I know of futures, seems to me your schemes are mutually exclusive.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 15, 2017, 09:36:45 AM
 #184


NYSHEX is not our competitor. We are potential collaborators. I would say my competitors are banks who issue the bank guarantee.  
[/color][/size][/font]


How do you envision forward contracts working with TEU? Reading on NYSHEX and from what I know of futures, seems to me both your schemes are mutually exclusive.


Consider NYSHEX is using bank guarantee to secure booking. In their model, bank guarantee is just a mean of securing of booking. Our Intermediate API design is open to all platforms including liner's own portal or any common booking portal like NYSHEX or Inttra.

Booking.com accepts more than just 1 payment method. We aim to make TEU token the de facto currency for shipping. There is no reason why liners or other portal won't widen their accept method of payment. I see full potential of different types of cooperation.


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September 15, 2017, 09:41:37 AM
 #185





NYSHEX is not our competitor. We are potential [my emphasis] collaborators. I would say my competitors are banks who issue the bank guarantee.  






NYSHEX is not our competitor. We are collaborators. I would say my competitors are banks who issue the bank guarantee. 
[/size][/font]


Will you be coming with an official statement joint with NYSHEX that you are now collaborating?

freightjoe, this is disingenuous. You quoted the poster 300cubits and erased the word "potential", then act as if the post declared a collaboration with NYSHEX. Shame on you.

Not really - I didn't change anything, hence the 300cubits poster have been subsequently edited. I leave it to the forum readers to conclude what that means
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September 15, 2017, 09:53:11 AM
 #186


City University of Hong Kong
Professional Seminars:

Topic         :    Initial Coin Offering
Date/Time :    September 23, 2017 (Saturday) / 2:00 to 3:30 pm
Venue        :   3614, 3/F, Li Dak Sum Yip Yio Chin Academic Building (AC2), City University of Hong Kong
Language  :    English

You are welcome to join if you happen to be in Hong Kong. This is free of charge, unlike other shipping forums.




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September 15, 2017, 10:04:25 AM
 #187

The community is so cool. When can I send out coins? When can we make a deal?
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September 15, 2017, 10:13:40 AM
 #188

The community is so cool. When can I send out coins? When can we make a deal?


Making contribution is a just a piece of cake. Pls following below instruction before 20-Sep:

https://medium.com/@300cubits/contribute-57c79b1a779c




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September 15, 2017, 05:51:02 PM
 #189

Hello John and team,

Thank you for your questions and clear statements!  To be sure you get the best answer I asked Adam, the architect of the platform, to reply:

What is not clear in the paper, however, is how the protocol ensures transaction integrity when the “zoning” or multithreading occurs. I suppose for transactions that are completely unrelated, this protocol can speed up the work (much like parallel processing of independent tasks in computing). But for transactions that are related or interdependent, I’d imagine this protocol would still incur some latency because the different transactions cannot be processed in parallel. This is not mentioned clearly in the paper.

There are multiple answers to the question. Right now individual inputs and output streams become thread locked and the protocol tries to hold an internal queue of transactions that need to process on the locked threads but this queue may timeout and then the transaction is dropped. However the ultimate goal is to actually split inputs and outputs across multiple threads and isolate the data they're able to modify and at the end of their threads merge the changes.

Example (Very slow confirmation example) :

I have 10 pounds and 5 euros. I send a transaction to spend 5 pounds. I then send a separate transaction to spend 2 euros. Where the data is stored can be isolated to each transaction request and when both transactions complete the data can be compiled again.

The first implementation of the data isolation will happen at contract level but with AI the protocol will be able to aim to automate some of them.
 
Overall, I think this protocol has some clever ideas (parallel processing of transactions) that can address the weakness of POW or POS, and hence it can definitely enhance efficiency when it is used in wide scale. However, it is a permissioned solution, meaning trust has to be endowed. Also, based on my understanding it still doesn’t remove transaction latency completely especially when the transactions are inter-related.

Well there is the hybrid design to allow some trust-less public interface to the ledger which of course needs to be further designed and prototype. I would say confirmation of transaction latency is closer to a database which supports sharding than a traditional time based and chain length confirmation because its the transaction request which confirms how long it will take not an unknown probabilistic result.

Eg

In the contract if you put the code to sleep for 1 minute, Minimum confirmation for that transaction will be 1 minute but the rest of the transactions on the network are unaffected.




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September 15, 2017, 06:13:28 PM
 #190


Newsletter:


“… we must assume there is an adequate mechanism … to enforce the bargain, once agreed.  Thus we need a sort of umpire, who will enforce contracts or commitments.”
John Nash, Two-Person Cooperative Games
Published in Econometrica, 1953

 
Important Notices
1.   The TEU pre-ICO ends September 20, 2017 at 2am UTC:
 
•   3am – UK Time
•   10am – Hong Kong Time
•   11am – Japan and Korea Time
•   10pm – Eastern Standard Time (September 19, 2017 – one day earlier)
 
If you plan to subscribe, please do so with time to spare.If you have any questions, please don’t hesitate to contact us: info@300cubits.tech.

2.   A note on TEU Token valuation:
 
There will only be 20 million TEU tokens in circulation amongst crypto currency investors after the ICO finishes in Nov (2 million from Pre-ICO finishing on Sep 20, and 18 million from the ICO we will run in November). The November ICO will be a traditional fixed price ICO, based partly on the valuation found in the Pre-ICO, and also factoring in an additional premium based on the actual achievements and milestones made in the preceding 2 months. Therefore, the valuation of TEU tokens during any ICO round will be lowest during the Pre-ICO which finishes on Sep 20.
 
More information on the November ICO will be provided in due course.

3.   We noticed scam and phishing attempts in the 300cubits Slack group.  Please refer to our notice on Medium for more information on how to spot and deal with such attempts to protect yourselves.
 
https://medium.com/@300cubits/direct-message-phishing-attempts-on-slack-4164da634a0a   
 
4.   Henceforth, the 300cubits’ presence on Slack will be shut down in favor of our new Telegram group.  Please join us on Telegram to see our posts and communicate with like-minded participants.
 
https://t.me/joinchat/AaMgCUOalqnIbMBmVxzcQw

5.   We are pleased to announce that Thomas Eskesen has joint our Advisory Board.  Prior to founding Eskesen Advisory, Thomas Eskesen worked for the AP Moller / Maersk Organization for almost 30 years.  He spent 9 years in Asia, including 3 years in China, as Line Manager for Maersk China.  He also spent 3 Years in the USA as Line Manager for Maersk Inc. before starting Maersk Line’s e-commerce division in 1999, which led him onto various initiatives including the founding of Inttra.com. Between 2006 and 2015 he was in charge of Maersk’s Refrigerated Cargo division and was part of Maersk Lines Global Leadership Team. He has attended senior management courses at Insead, Harvard Business School, IMD and Columbia Business School. Thomas is 52 years old, Danish citizen, married to Naomi from India and has two kids Daniella 20 and Isabella 18.
 
Thomas Eskesen stated, ‘I am excited to join 300cubits as an Advisor. The old-fashioned shipping industry is on the brink of a dramatic change and we will see major industry shifts in the years to come. Companies need to collaborate using blockchain technology to drive value to their clients and capture internal efficiencies. Neutral but deeply knowledgeable players like 300cubits can help drive this dialogue.’
 
300cubits management, ‘Mr. Eskesen’s joining the 300cubits team is an important milestone for us. The 300cubits project may be Déjà Vu for Mr. Eskesen given his success in forming industry alliances behind Inttra.com and leading the first wave of shipping e-commerce at the turn of the millennium at Maersk.”

Main Section
We met some of the largest liners and forwarding companies during our visits to Singapore, Shanghai and Europe over the past two weeks.  One of the loudest complaints from the customer side is the lack of reliability in liner shipping, which ironically is what liner shipping was designed for as opposed to the more traditional tramp shipping.  And there is no option for the customers to pay for premium services because even the so called “premium” liners would still roll their cargo or miss delivery schedules while offering little compensation.  We think TEU tokens could be used as signaling tools that allow the customers to get the quality of services they desire.
 
The shipment booking deposit does not have to be benchmarked against the freight payment. The shipment booking deposit could benchmark against a customer’s potential costs in inventory or missed sales target if a shipment is delayed, which means the booking deposit could be many times of the freight payment. Liners who are not certain in their ability to load high priority cargo have the option not to match. At least this way, the customers have sufficient notice to look for alternative shipping options instead of learning their shipment could not get on board after the vessel sails.
 
Moreover, the customers placing shipment booking deposit could also set cargo delivery date, cargo condition (e.g. temperature for reefer), empty availability and empty pick up locations instead of simply cargo loading as conditions for liners to get back their booking deposit.
 
Upcoming Events
Sep 23, Hong Kong – We will speak at City University of Hong Kong for a group of Economics majors about our 300cubits project.
 
Oct 4, Singapore – We will speak at The Maritime CIO Forum at the Grand Copthorne Waterfront Hotel.  The Blockchain session starts at 11:15am.

Achievements since 1 Aug 2017
1.   We have collected 411 Ethers since our pre-ICO started Aug 16.
 
2.   On-line marketing:
   Unique Users visited our web: 43,000 users since Aug 1
   Twitter: 606+ followers
   FB: 322 followers
   BitcoinTalk: 188 discussions
   Medium.com: 200 views since last newsletter / 36 followers
 
3.   Project Implementation: We have programmed the first release of Booking Smart Contract, which is ready for the industry partners to run sand box trial. The Booking Smart Contract would allow users to send in TEU tokens, which will be held in the Booking Smart Contract before signals (e.g. cargo receipt and cargo loading) are given for the release of the TEU tokens.

http://mailchi.mp/18b0d4d80d6b/300cubits-newsletter-september-16-2017?e=410c895893


TEU - bitcoin for shipping
litcoi
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September 17, 2017, 02:12:06 PM
 #191





NYSHEX is not our competitor. We are potential [my emphasis] collaborators. I would say my competitors are banks who issue the bank guarantee.  






NYSHEX is not our competitor. We are collaborators. I would say my competitors are banks who issue the bank guarantee. 
[/size][/font]


Will you be coming with an official statement joint with NYSHEX that you are now collaborating?

freightjoe, this is disingenuous. You quoted the poster 300cubits and erased the word "potential", then act as if the post declared a collaboration with NYSHEX. Shame on you.

Not really - I didn't change anything, hence the 300cubits poster have been subsequently edited. I leave it to the forum readers to conclude what that means

Apologies, I take it back.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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September 18, 2017, 01:46:26 AM
 #192


Bounty Statistics:

https://docs.google.com/spreadsheets/d/1lCG45AkJ_yeX89Vn0VP7RIpkH2I1aD4RpSH06UotHHQ/edit#gid=0


Individual emails had also been sent to unsuccessful participants.





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September 18, 2017, 02:01:41 AM
 #193


Final Countdown:
Pre-ICO will end in 48 hours.




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digiworld1
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September 18, 2017, 06:19:29 PM
 #194


Newsletter:


“… we must assume there is an adequate mechanism … to enforce the bargain, once agreed.  Thus we need a sort of umpire, who will enforce contracts or commitments.”
John Nash, Two-Person Cooperative Games
Published in Econometrica, 1953

 
Important Notices
1.   The TEU pre-ICO ends September 20, 2017 at 2am UTC:
 
•   3am – UK Time
•   10am – Hong Kong Time
•   11am – Japan and Korea Time
•   10pm – Eastern Standard Time (September 19, 2017 – one day earlier)
 
If you plan to subscribe, please do so with time to spare.If you have any questions, please don’t hesitate to contact us: info@300cubits.tech.

2.   A note on TEU Token valuation:
 
There will only be 20 million TEU tokens in circulation amongst crypto currency investors after the ICO finishes in Nov (2 million from Pre-ICO finishing on Sep 20, and 18 million from the ICO we will run in November). The November ICO will be a traditional fixed price ICO, based partly on the valuation found in the Pre-ICO, and also factoring in an additional premium based on the actual achievements and milestones made in the preceding 2 months. Therefore, the valuation of TEU tokens during any ICO round will be lowest during the Pre-ICO which finishes on Sep 20.
 
More information on the November ICO will be provided in due course.

3.   We noticed scam and phishing attempts in the 300cubits Slack group.  Please refer to our notice on Medium for more information on how to spot and deal with such attempts to protect yourselves.
 
https://medium.com/@300cubits/direct-message-phishing-attempts-on-slack-4164da634a0a   
 
4.   Henceforth, the 300cubits’ presence on Slack will be shut down in favor of our new Telegram group.  Please join us on Telegram to see our posts and communicate with like-minded participants.
 
https://t.me/joinchat/AaMgCUOalqnIbMBmVxzcQw

5.   We are pleased to announce that Thomas Eskesen has joint our Advisory Board.  Prior to founding Eskesen Advisory, Thomas Eskesen worked for the AP Moller / Maersk Organization for almost 30 years.  He spent 9 years in Asia, including 3 years in China, as Line Manager for Maersk China.  He also spent 3 Years in the USA as Line Manager for Maersk Inc. before starting Maersk Line’s e-commerce division in 1999, which led him onto various initiatives including the founding of Inttra.com. Between 2006 and 2015 he was in charge of Maersk’s Refrigerated Cargo division and was part of Maersk Lines Global Leadership Team. He has attended senior management courses at Insead, Harvard Business School, IMD and Columbia Business School. Thomas is 52 years old, Danish citizen, married to Naomi from India and has two kids Daniella 20 and Isabella 18.
 
Thomas Eskesen stated, ‘I am excited to join 300cubits as an Advisor. The old-fashioned shipping industry is on the brink of a dramatic change and we will see major industry shifts in the years to come. Companies need to collaborate using blockchain technology to drive value to their clients and capture internal efficiencies. Neutral but deeply knowledgeable players like 300cubits can help drive this dialogue.’
 
300cubits management, ‘Mr. Eskesen’s joining the 300cubits team is an important milestone for us. The 300cubits project may be Déjà Vu for Mr. Eskesen given his success in forming industry alliances behind Inttra.com and leading the first wave of shipping e-commerce at the turn of the millennium at Maersk.”

Main Section
We met some of the largest liners and forwarding companies during our visits to Singapore, Shanghai and Europe over the past two weeks.  One of the loudest complaints from the customer side is the lack of reliability in liner shipping, which ironically is what liner shipping was designed for as opposed to the more traditional tramp shipping.  And there is no option for the customers to pay for premium services because even the so called “premium” liners would still roll their cargo or miss delivery schedules while offering little compensation.  We think TEU tokens could be used as signaling tools that allow the customers to get the quality of services they desire.
 
The shipment booking deposit does not have to be benchmarked against the freight payment. The shipment booking deposit could benchmark against a customer’s potential costs in inventory or missed sales target if a shipment is delayed, which means the booking deposit could be many times of the freight payment. Liners who are not certain in their ability to load high priority cargo have the option not to match. At least this way, the customers have sufficient notice to look for alternative shipping options instead of learning their shipment could not get on board after the vessel sails.
 
Moreover, the customers placing shipment booking deposit could also set cargo delivery date, cargo condition (e.g. temperature for reefer), empty availability and empty pick up locations instead of simply cargo loading as conditions for liners to get back their booking deposit.
 
Upcoming Events
Sep 23, Hong Kong – We will speak at City University of Hong Kong for a group of Economics majors about our 300cubits project.
 
Oct 4, Singapore – We will speak at The Maritime CIO Forum at the Grand Copthorne Waterfront Hotel.  The Blockchain session starts at 11:15am.

Achievements since 1 Aug 2017
1.   We have collected 411 Ethers since our pre-ICO started Aug 16.
 
2.   On-line marketing:
   Unique Users visited our web: 43,000 users since Aug 1
   Twitter: 606+ followers
   FB: 322 followers
   BitcoinTalk: 188 discussions
   Medium.com: 200 views since last newsletter / 36 followers
 
3.   Project Implementation: We have programmed the first release of Booking Smart Contract, which is ready for the industry partners to run sand box trial. The Booking Smart Contract would allow users to send in TEU tokens, which will be held in the Booking Smart Contract before signals (e.g. cargo receipt and cargo loading) are given for the release of the TEU tokens.

http://mailchi.mp/18b0d4d80d6b/300cubits-newsletter-september-16-2017?e=410c895893



Congratulation to the team for having another strong experience team member on board. There is a huge market in shipping industry and this is one of the area where blockchain technology can maximize its potential. 

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September 18, 2017, 06:22:21 PM
 #195

The community is so cool. When can I send out coins? When can we make a deal?


Making contribution is a just a piece of cake. Pls following below instruction before 20-Sep:

https://medium.com/@300cubits/contribute-57c79b1a779c





Very simple, brief, and clear. Wish TEU an ICO success and I look forward where the company will be in a few years from now.

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September 18, 2017, 06:29:58 PM
 #196

Sorry, but I can not find the spreadsheets so I can check my participation. Give me the link.

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September 19, 2017, 01:15:43 AM
 #197

Sorry, but I can not find the spreadsheets so I can check my participation. Give me the link.


Bounty Statistics:

https://docs.google.com/spreadsheets/d/1lCG45AkJ_yeX89Vn0VP7RIpkH2I1aD4RpSH06UotHHQ/edit#gid=0


Individual emails had also been sent to unsuccessful participants.


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September 19, 2017, 01:16:24 AM
 #198


Final Countdown:
Pre-ICO will end in 1 day.




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September 20, 2017, 03:16:43 AM
 #199


Pre-ICO has successfully done. Thank you all the contributors.

Token collection instruction:
https://300cubits.tech/pdf/Collect_Token.pdf


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litcoi
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September 20, 2017, 02:17:24 PM
 #200

Yes, looking forward to further news and developments. I'm sure the TEU token will go to new heights. Thanks to the team for setting a new standard in discretion and professionalism in token sales. I'm looking forward to the ICO and exchange launch.

TEU Pre-ICO: 16-Aug – 20-Sep-2017
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