Blocbox Pte. Ltd. & Global Ship Spares Form Strategic Alliance

SINGAPORE, March 27, 2019 — BlocBox Pte. Ltd. has formed a strategic partnership with Apta Solutions’ new arm, Globalshipspares.com (GSS), for the mutual benefit of both parties in the Asia-Pacific and European regions. Both organisations place high priority in sustainability within the maritime industry and this common goal is the basis of the technical collaboration between both parties.

Globalshipspares.com, the new website launched by Apta Solutions, provides essential spares to the shipping sector through refurbished and reused marine equipment, aiding in sustainability within the maritime sector. Similarly, BlocBox’s use of data analytics to help streamline operations for ship owners, which in turn optimize cost savings, is crucial in ensuring the longevity of sustainable practices. Such practices from the two organization ensure a creation of an eco-friendly environment, subsequently achieving sustainability as a partnership.

The collaboration will see GSS become one of the stakeholder nodes in the Minimum Viable Product (MVP) stage of the BlocBox product. As per the agreement, the proprietary BlocBox Protocol will be used by GSS to enter into a side chain with relevant stakeholders. The latter will also use BLX tokens throughout the GSS ecosystem.

Additionally, GSS will utilise the BlocBox Protocol as well as the Blockchain as a Service (BAAS) component of the solution for the management of contracts. Using a digital platform adds to cost savings in terms of paper and other resources. Furthermore, on completion of successful trials, GSS will incorporate BLX into the ecosystem to facilitate smooth transactions, resulting in time savings and transparency to all stakeholders involved.

After signing the agreement, Saurish Nandi, Chief Technology Officer of BlocBox stated,

“We are pleased to work with a company that shares our goal of sustainability in shipping. With shipping now embracing digitalisation, technology is the only way forward. The potential in terms of efficiency, transparency and cost saving is limitless and we are excited for what’s to come.”

Alex Lee, Managing Director of Globalshipspares.com, further commented on the strategic alliance,

“It is a pleasure to collaborate with a forward-thinking organisation such as BlocBox. This collaboration opens up a new paradigm for our customers to leverage on technology and at the same time operate in a sustainable and environmentally sound manner.”

The strategic alliance will further benefit both organisations in regards to expansion and growth as it allows for exposure and entry into new markets for both parties involved.

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About BlocBox

BlocBox is the world’s first Blockchain protocol for aviation and maritime safety. It is an immutable distributed ledger with blockchain technology designed to solve the challenges of retrieval of blackbox data, transparency, predictions and ownership in the maritime & aviation industry. BlocBox will collect and encrypt data that is stored locally within safety instruments installed on ships and airplanes. With BlocBox, there will be an inclusive ecosystem that enables all stakeholders, from crew to government officials, to gain access to services that will benefit them in daily operations.

About Global Ship Spares

Globalshipspares.com is managed by a team of dedicated technicians and have been in the repairing and selling of new and used maritime navigational equipment since 2001. The team understands the importance of these equipment, which are mandatory for a ship to operate safely and accurately. The company’s key focus is in providing customers with superior quality for refurbished equipment at affordable cost. All the refurbished equipment undergoes testing and verification; leaving the workshop with a warranty for customers.

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Blocbox is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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