Smarter Moves. Smarter Payments.
Question: What is BoxBit?
Answer: BoxBit is a utility token that will be used for portions of the freight shipping supply chain and a blockchain encryption system to significantly improve the ‘paperwork burden’ of point-to-point and intermodal freight movement. BoxBit will also be utilized for the procurement of blockchain development and to fund engineering studies for the EagleRail intermodal container moves in the world’s largest shipping ports.
Question: Who will utilize it?
Answer: Companies and governing authorities who currently use traditional payment and tracking methods to service providers for containerized and bulk cargo movement between ships, trucking, railroad and various intermodal facilities.
Question: When will BoxBit be available to industry?
Answer: The BoxBit token is planned for spring 2018 market availability.
Question: Will the BoxBit token “work” with other tokens in the shipping industry?
Answer: Yes, the BoxBit token will be fully ERC20 compliant to ensure that it functions properly on the Ethereum blockchain, similarly to other ERC20 tokens.
Question: Will BoxBit be an ‘open’ or ‘closed’ platform?
Answer: To address the inefficiencies in the intermodal shipping industry, BoxBit will utilize Hyperledger Fabric framework to deliver a truly modular, scalable and secure foundation for industrial blockchain solutions. Developed by IBM and hosted by The Linux Foundation, Hyperledger Fabric allows components, such as consensus and membership services, to be plug-and-play. Hyperledger Fabric leverages container technology to host smart contracts called “chaincode” that comprise the application logic of the system.
Question: What is EagleRail?
Answer: EagleRail is an innovative technological solution to the problems of truck drayage in the container movement environments in and near heavily congested sea ports and inland intermodal facilities. Sites that face problems with truck traffic congestion, pollution, capacity limitation, scheduling difficulties, data blackouts, and cycle time delays are suited for EagleRail’s elevated, electric, autonomous-movement track and vehicle container handling system. See the explanatory video on www.eaglerail.com
Question: How are the two companies related?
Answer: EagleRail’s principals identified the blockchain-enabled transportation packet need, then gathered the BoxBit leadership team. EagleRail owns a stake in BoxBit, and BoxBit anticipates making investments in EagleRail’s technology development and Engineering study process.
Question: How do I learn more?
Answer: Please email questions to firstname.lastname@example.org and look for answers to your questions and more on our forthcoming FAQs and BoxbitBlog; and Please plan a visit to our Tech Center and Research Facility at 4010 W. Ogden Avenue, Chicago, IL 60623, USA