The global shipping industry is one of the oldest in the world and a trillion-dollar business. In fact nearly all goods, which we buy have likely been shipped before via the world waterways. Like many other industries, the shipping business is facing systemic issues which could not be fully resolved before. The Blockchain Technology has now created a strong foundation to address and correct payment-related inefficiencies of the shipping industry.
The Prime Shipping Foundation (primeshipping.io) was formed as an open-source project by Gibraltar-based Quorum Capital Ltd and shipping broker Interchart LLC in pursuit of disrupting the way payments are handled. The team, was working discreetly on the mechanics of the product, which will enable an immediate processing of payments and conversion from fiat to cryptocurrencies and back without incurring much additional cost for the customers.