BlocBox will present its Initial Exchange Offering (IEO) on 18 October 2019. The IEO token, BlocX (BLX), will be launched first on Exonium Exchange and will be key to BlocBox’s plans in building a blockchain-based universal maritime ecosystem.

This partnership will enable seafarers use social apps and a cryptocurrency wallet.

Kenny Koh, CEO of BlocBox commented that

The appropriate use of Blockchain technology will transform how these industries operate. The proposed structure is flexible and highly customizable to the requirements of the participants in the BlocBox network.

Moreover, BlocBox aims to ease shipping transactions by utilizing blockchain technology to power a universal maritime ecosystem which will allow users to access news, content, entertainment and communications as well as facilitate payment transactions in international maritime trade.

Blockchain technology is a step closer to shipping's digitalization, as until today the entire maritime certification ecosystem is based in paperwork; Thus, blockchain eases the lives of seafarers and the industry's operations as well.