About

Although today there are several fragmented databases for many different verticals in ship’s operation/handling there is no trusted unified database that contains the transactions that took place in the lifetime of a vessel. While on one hand the use of e-Logbooks will be mandatory in the years to come and thousands of ships will have to comply, on the other hand the stakeholders with controlling power over the shipping industry will push for verified distribution of ships data and digital assets that will enable them to base statistical models for more efficient insurance plans and chartering. The combination of the two will create a new market worth of hundred millions of dollars in the emerging ‘SmartShip’ era.

Solution & Product

Intelship introduces a digital blockchain based solution through its product called “MariCHain”. Our developed product is coming out of our broad customer portfolio companies from shipping industry and was validated as a need before developed and brought to the market. The idea aims to integrate the blockchain technology in the logbook of the ships in the marine industry. The ship’s logbook has been now turned into a volume of indestructible and non-modifiable copies held in a blockchain by means of DLT ; nobody can tamper with its contents, and only a global disaster would destroy all of its copies. Through this technology Intelship addresses the problem of security (cyber or physical), trust, origin and consistency of records in the course of vessels lifetime offering a secure and trusted storage of data as well as distribution and interoperability with other source of data.

Innovation & Scalability

Intelship product brings innovation due to -tDigitalising the processes (real time monitoring, transparency, accuracy etc.) -tBlockchain technology (DLT) All the transactions/interactions taking place on board the vessel will be stored (hashed) as timestamped blocks of data in the blockchain. The fundamental technological nature of Distributed Ledger Technology (DLT) grants immutable records and prevent from any malicious or fraudulent action to tamper with the data; this fundamental technology gives the competitive advantage against contemporary local or cloud based centralized technologies. Growth potential and scalability have been already described on the previous section with specific supporting metrics. In terms of targeted market volumes, our scalable business model, our European customer traction, our validated model and our automated fast track selling and serving process proves strongly the scalability and growth potential of our business. Based on our business model our business analysts have estimated that in 5 years from today we will try to share the 4,5% of the EU market and reach annual revenues up around 1.8 million euros. To achieve this Intelship has already \ reference success cases along with branded local Greek customers (i.e. Achaeon Akti marine, tsafos maritime). These reference cases already act as entrance selling proposition to new customers and open up potentials for further contracts.

Traction & achievements

Intelship has met some crucial milestones both in business and in product development. Intelship has already come into an agreement with Radio Holland for exclusively supply of blockchain technology and solution on their developed logbooks. applied on it the blockchain technology Intelship is a well-established supplier to the shipping industry with a customer portfolio of 56 marine industries globally, which is the initial basis and beachhead market outreach for our product. Our solution has been already been validated with two customers and we are on advanced discussions for sales. These reference cases already act as entrance selling proposition to new customers and open up potentials for further contracts On the business traction, our customer portfolio and pipeline is created in Greece and international level with 3 signed contracts for the application and implementation of the proposed solution.

Team & Why Us

The team consists of partners that cover all the different aspects of the value chain. More precisely the team consists of Panos Antoniadis who is the co-founder - managing partner and business developer of the company with main role the attraction of investments and new opportunities.

Funding Needs

At this stage Intelship needs extra funding to expand the technology in other sectors as well as expand in other countries.