TEU is the acronym for Twenty-foot Equivalent Unit. It is a cryptocurrency that was developed in Hong Kong and works on Ethereum algorithm. It is designed as a booking deposit to fix the pain points of an industry such as no show bookings and rolling. No show occurs when customers book a shipping slot but do not show up with cargo and rolling happens when company liners accept the booking but fail to update the cargo. These are few pain points that the shipping industries are looking remedies for. TEU tokens counter the less capital-intensive solution to these industries. These tokens work on a model where the customers and liners are given a unique TUE tokens that will be held as deposits with conditions and paid out later once the shipment is executed. In case the customers or liners do not show up, they will be compensated by with the TEU Tokens.
- TEU ecosystem comprises of:
Market place module- It trades the TUE Tokens against ETH. It provides a peer-to-peer safe trading environment where users can recover their potentially lost tokens once a confirmed booking shipment is traded.
- Smart contract builder model- It is a Dapp which allows any layman to tailor a smart contract with help of TUE Tokens.
- Booking module- It is a Dapp that collects all the data related to shipments, schedules and quotations from the liners who use TUE tokens. Based on existing information, customers can have a look upon schedules and quotations and book the best routes for them.
- Rates and Bonuses
- 1 ETH to 400 TEU / up to 170% bonus
- 2% pre-ICO; 18% ICO; 20% 2nd ICO; 54% marketing; 6% team
- Johnson Leung
- Jonathan Lee