The Shanghai Containerized Freight Index (SCFI) , is one of the most widely used index for freight rates for import to China worldwide. This index is calculated weekly. Shanghai is the main port for Chinese imports and exports into the global market. This includes Euorpe, Mediterranean, USA, Persian Gulf, Southeast Asia, Africa, Japan, Korea and more. There are a variety of shipping index’s which would benefit from cooperability from blockchain technology. The Ocean Freight industry is the main mode of transportation of manufactured goods and materials. There are a variety of freight index’s that are widely used, another example is the and SONAR: FBXD.GLBL. By becoming one of the first blockchains to actively engage in the trade off the these freight index’s, not only will UMA authenticate itself as an industry level blockchain creation project, but also it will expose itself to greater publicity as it creates tokens which can begin to serve useful purposes. A containerized shipping token would allow eventual expansion into price speculation, futures, and contracts which can be built using the synthetic token platform to represent trade agreements.
This is really cool! It seems like you could create a token tracking this value, either as an EMP or a perpetual. The price feed for the token could be recursive, looking at its own AMM TWAP.
I was reminded of this thread after reading about the situation in Suez, seems like supply chains are under serious pressure at the moment
for real you can not find canon pg 245 ink in any stores its their most popular cartridge and there is no explanation for the shortage. I am finishing my supply chain management degree in the fall. What would really be interesting is then being able to index a companies forecasting abilities or lack of.
With your opinion, Because of the Covid-19 epidemic
Apparently they have partially refloated the boat, but we arent out of the water yet (…or should that be in the water in this case!).
I know virtually nothing about shipping apart from what I’ve been reading in the last week, but what I’ve been reading is astonishing. I vaguely know that there were a lot of really big ships that sail around the world but the sheer scale of it blows my mind as does how fragile our supply chains really are.
Covid, Suez, oil supplies, having to have the right container ships in the right places at the right time, the tight scheduling…seems like this whole area is ripe for synthetics to manage risk.
Defo worth exploring more. Getting a sufficiently granular price feed might be an issue…although perhaps it doesnt really need to be all that granular if you are tracking over a significant time frame.
Depending on the time frame that would be sufficient, the price feeds for the various shipping freight index’s themselves are updated over extended periods. There are other synthetic assets which could UMA’s platform could track pretty effectively within the freight and logistics sector. I am happy to put together a document with major index’s, their price feedback times and possible offshoots if that would interest you all. There are other blockchains trying to get into the tracking and documentation side of logistics, but as of yet nothing trying to model synthetic assets or duties.