ShipChain (SHIP) - Limited Volume/Limited Exchanges | Coinopsy
ShipChain (SHIP) - Dead Coins

ShipChain (SHIP)

ShipChain was founded in 2018, it is trading on limited exchanges. ShipChain was added to the dead coins list due to limited trading and exchanges. Founder/CEO is John Monarch.

Summary

  • Main reasons for dead coin listing, Limited Exchanges and trading.
  • Started 2018, Ended 2018.
  • Social media ended 2019.
  • Trading ticker (SHIP).
  • 500,000,000 Tokens total.
  • Available to trade on limited exchanges.
  • Was built on Ethereum blockchain.
  • Website is still up.
  • The Founder/SEO is John Monarch.

Listing Details

John Monarch and Team has a history of "bad business" practices, but this time is attempting to get away with not only $30 million of investor's money, but also successfully hide from securities fraud by gaining a real business' revenue. 

ShipChain LLC. (now Inc. and registered in Delaware lol) ran an ICO that raised $30 Million from pre-screened retail investors. Pre-screened meaning they required you to purchase a minimum of $25,000 worth of SHIP and collected all of your personal information (more than likely to sell on the back end). 

I believe an agreement also had to be signed safeguarding ShipChain from legal backlash (John Monarch is king of filthy business practices such as this). Once the ICO was completed it was sold to the bottom essentially making it worthless while ShipChain sold off all the Ethereum for USD.

Now, ShipChain does not discuss the token, has eliminated and censored their social media accounts, and is solely focused on "Biz Development" to create a business that bring in revenues via the USD. ShipChain is even discussing moving the SHIP token to Switzerland to be under control of a Non-profit Foundation rather than have anything to do with ShipChain Inc. (Again, only bringing in revenues via USD). 

John and ShipChain have completely abandoned the SHIP token and the retail investors. There are only a small amount of SHIP "promoters", with God complexes, still active in an Unofficial Telegram Account stating that progress is right around the corner (only to be pushed back and back and back), but yet immediately contradicting themselves stating it will take a decade for the SHIP token to gain value. 

No progress is ever completed on the token side of things as focus is on "Biz Dev. and bringing in revenues first." Classic money-grab scam only this time John Monarch and ShipChain are avoiding securities fraud by using the stolen money to form a legitimate business venture that brings in non-crypto revenues; A.K.A. Money Laundering. Token holders have no volume, no liquidity, and no interest in the SHIP token and will be holding their bags until they can offload it to some other unsuspecting crypto investor. 

*Note - ShipChain has claimed the SHIP token is necessary for their sidechain to operate, but has already developed plans to move on to another token called Karma.... rinse and repeat...rinse and repeat...

Links

shipchain.io

shipchain.com

U.S. Investors Swindled

There are only two exchanges that the SHIP token is being exchanged, but U.S. Residents are now banned from buying/selling SHIP on the two exchanges (HitBTC, IDEX). So, whether you were an ICO investor that gave ETH to purchase a now worthless SHIP token, or a secondary investor looking to buy the bottom in hope of a small gain, you now hold SHIP tokens that you cannot even sell. 

U.S. Residents that hold SHIP currently will quite literally have to perform money laundering themselves to be able to sell their worthless tokens. 

So, if the Switzerland Non-profit for ShipChain is actually created (which there is no communication from ShipChain about when this will happen and it's been months), and USD revenues are coming into ShipChain Inc. creating some value for SHIP on the sidechain, U.S. Residents will have to find workarounds to sell. 

I wonder if the now extinct Whitepaper originally outlined all this when the SHIP token was originally sold? Probably not... 

Where is the Securities and Exchange Commission? This fraud is easily recognizable. Prosecute John and his band of "Advisor" thieves. 

Investor Reaction

ShipChain investors express their anger and disappointment in social media.

Screenshots

Social Media Blocks Investors

ShipChain Whitepaper

ShipChain Defence

All of the above blocks have been written by one single ICO investor who is (rightly in my opinion) very upset that his investment went down 98% to date. 

I have myself invested money in the SHIP token as well and would like to present a totally contradictory point of view, with as much evidence as possible to allow any readers to form their own opinions.

This post will try to address the main concerns raised by this investor:

  • 1 . Shipchain Inc. would not be communicating about the price nor exchange listing of the SHIP token.
  • 2 . Shipchain Inc. would have "abandonned the SHIP token" and investors have no confirmation that the txs on the blockchain will be settled in tokens.
  • 3 . The only 2 exchanges were the SHIP token is listed today are blocking US residents.
  • 4 . There is no committed date for the SHIP foundation.

Point 1:

This is absolutely true and it is already paying off considering the caliber of the (particular risk-adversed) companies that have started collaborating with Shipchain. Shipchain Inc. registered in South Carolina was under heavy scrutinity from the South Carolina Attorney's General Office in 2018 and although the Cease and Desist order was removed after investigations, the young startup pursued quite naturally its 'regulatory compliance first' approach and systematically refused to engage with the community into token price and listing discussions, inevitably leading to a significant price decline, upsetting quite righly the original investors.

Regulators Withdraw Enforcement Actions

Point 2:

These statements upset a lot of other members of the community as they are clearly not based on facts. Rather than elaborating myself, I encourage anyone to review the details below to form an educated opinion on the matter:

πŸ“¦ The Shipchain network is a soft fork of Loom, a **dPoS blockchain**

πŸ“¦ The project is open source, hence everything is verifiable

πŸ“¦ This fork runs on the **SHIP token**. Read this by replacing β€˜LOOM’ by β€˜SHIP’

πŸ“¦ Spend time on Loom’s blog post to fine tune your knowledge about **blockchains interoperability**

πŸ“¦ Our Sidechain is Now in **Testnet Phase 3: Gamma**. 20-25 validators / 51.

πŸ“¦ First and foremost **use-case** for the SHIP token: power and secure the blockchain like in any other dPoS networks. Txs on the network require gas called Karma in the Loom code, and Karma can only be exchanged with SHIP tokens (like ETH and its Gas).

πŸ“¦ **Buy & delegate** your SHIPs will make you earn up to 15-20% YoY with 1 year lock-up period!

πŸ“¦ Build your node

πŸ“¦ Come and ask any technical questions to the CTO and top developers

πŸ“¦ Shipchain's APIs Engine and Transmission will allow integration on existing TMS and ERPs πŸ”“

πŸ“¦ The community recommends to buy SHIP on IDEX

U0001f9e9 What do we know & have yet to discover on **Token economics**? (community chart)

Point 3:

This is true but has to be temporary. The SHIP ecosystem cannot function without liquidity, which none of these 2 exchanges provide today. There are alternative solutions, uniswap is one of them, paying listing fees to binance another, and many more. The most important points today are that

  • 1 . Shipchain Inc. is not in a comfortable position legally speaking to carry on this duty. The community of token holders federated behind the Foundation however would be. see the next point.
  • 2 . Careful spending of the ICO money would call out for development of the platform and business development first and building liquidity on the token when it's needed second.

Point 4:

It's been mentioned for months that the foundation was expected (although not confirmed) to go live between end of 2019 and end of Q1 2020. These timings until proven otherwise are still valid.

Furthermore, first insights about that non-profit foundation in Switzerland meant to rule the network and its token in a crypto friendly regulatory environment have been disclosed on our community channel earlier this week to outline its purpose and governance.

Purpose and Governance 1 & Purpose and Governance 2

To conclude, you will find below a list of the recent news and industry-relevant articles mentioned Shipchain and its platform.

βš™οΈ Official news βš™οΈ

πŸ“– Latest **Dispatch Report**: β€œ[…] getting further and further along with one of the largest fast-food companies in the United States. More details to come soon!”

πŸ“– Latest **AMA**

πŸ“’ ShipChain launches its **new final mile delivery platform**

πŸ“’ ShipChain wins **Blockchain Innovation Award** at #DataccioConnect Singapore

πŸ“’ ShipChain co-hosts the **industry event** SC Logistics 2019 Fall Talk in Charleston, SC with DHL, FexEx, Volvo

πŸ“’ ShipChain graduates from **Plug and Play**’s 2019 Food and Beverage Accelerator Program

πŸ“’ ShipChain Selected by **World Economic Forum** to Build the Blockchain Toolkit: LedgerInsights, Weforum

πŸ–‡ Latest **partnerships**: GTX Corporation (nasdaq.com) & Parcelive by Hanaah (aircargoworld.com)

πŸŽ™ Latest **podcasts**: Cerasis, Supply Chain Radio

πŸŽ₯ Latest **webinar**: β€œThe State of Technology in Food Supply Chains 2019”

πŸ“– World Economic Forum papers

Update to the Shipchain Scam 12/27/19

We are days away from 2020 and thus far any and all Shipchain "progress" has led to more and more push backs. Shipchain was supposed to be taking in revenues for Shipchain Inc. since January 2019... Well if revenues are coming in, where are they going? It's a private company so that information legally doesn't need to be revealed; BUT how can Shipchain take in revenue without a working product? It should be impossible for Shipchain to take in revenues as there is no movement on the SHIP token (as the Mainnet is not finished) and supposedly the SHIP token powers the sidechain? No revenues incoming then right?

Also, Shipchain has completely abandoned the SHIP token by Incorporating via a Delaware shell company creator similar to Mossack Fonseca and is now laundering the SHIP token to Switzerland to be ruled by a shell company (“the non-profit Foundation”) named Opensource. Looks like Shipchain is scamming even further for SEO as Opensource is a product of their competitor IBM. They're not even original with their illegal shell companies...

There is ONE “unofficial” representative that continues Shipchain’s promoting and banning of investors that goes by many names: Niko, Nikolas, Shipmate, Rhitova, and many other social media personas. “Niko” hodl’s approximately 5 Million SHIP tokens, is the Owner of the “Unofficial Shipchain” Telegram account, is a Shipchain Node Operator, and now spends his days attempting to onboard “idiot investors” to gain more participation in the Shipchain scam. Niko’s continuous delusional thoughts (or scam persuasion) seems to be geared towards getting rich off the Shipchain token as he has no empathy for ICO investors and continues to degrade and ban them from the Telegram channel. Niko is riding John Monarch’s coat tail for fraudulent profit as he is in constant contact with John and puts a spin on direct information from John and Shipchain to keep an audience; but "Niko" should be careful as John may very well be using him as a scapegoat promoter. With all of "Niko's" participation and Shipchain promoting, how easy would it be to blame "Niko" for false perceptions... or is that the scheme in the first place? Something to think about anyway. With a ZERO balance on the comment boxes of Shipchain’s direct online blog, less than 150 Telegram members and extremely low comments on all other Shipchain social media (other than Niko’s “promoting”), it is easy to comprehend that Shipchain continues to sensor and remove all negative feedback; and there is MUCH negative feedback.

Shipchain’s website also continues to list advisors that no longer work for Shipchain and advisors that have jumped to a competitor openly. Roger Crook has jumped to Morpheus (MRPH) which is a direct competitor of Shipchain. The Main Advisor "Shark", Kevin Harrington, has run away from Shipchain completely (more than likely to avoid being associated with a scam group). Of the few legitimate Shipchain advisors still on the payroll, a few are also advising blockchain companies that have recently come under investigation by the SEC and FBI only to fall apart completely and send angry investors to the chat dumpsters. So the reputable Advisors are gone, and the remaining Advisors are being paid to give business advice to proven fraudulent companies.  

Shipchain’s Mainnet and “The Foundation” are now rumored to be finished by the end of the first quarter 2020 (was supposed to be by the end of 2019, but that's a luxury John gets by using a scapegoat "unofficial" promoter) which will in turn get the ball rolling on the SHIP token. Meanwhile, logistic and blockchain competitors continue to surpass Shipchain’s “progress” and value each and every ticking day.

In summary… John Monarch conducts fraudulent business. John was/is fraudulent with his company Direct Outbound, he’s fraudulent with Shipchain LLC and Shipchain Inc. and he’s committing White-Collar crimes right in the viewing pleasure of the SEC and FBI. John Monarch should be jailed, and any co-conspirators should go down with him. John and his scam crew have stolen millions from the American and Foreign Public. Who’s protecting these guys and why have they not been indicted already?

Shipchain working Foundation and Mainnet launched by the end of Quarter 1 2020??? I’ll bet anyone 5 BTC that both get pushed back… on top of that another 5 BTC that Shipchain either performs a token swap or closes up shop due to “not enough sustainable business”. John and his crew are surely using the ICO funds to “work” (paying themselves fat salaries with investor's money) before Shipchain files bankruptcy. It will soon run out and all speculation will come to an end.

File your SEC, FBI, and IC3 complaints now…

Read about John Monarch's right-hand man and fraudulent Attorney that oversees all of John's shell company ventures here:

http://www.barcomplaint.com/news-about-a-lawyer/shipchain-aaron-kelly-under-investigation-for-crytpto-currency-scam/

 

 

Doxxing should be forbidden here

No one is going to spend time reacting on the doxxing attempts visible on previous posts. 

However few points require additional sources of information to enable everyone to formulate their own judgment on the matter:

fraudulent Attorney

Both Mainnet and foundation would be delayed further than end of Q1 2020.

ShipChain Inc. will run out of funds

Censorship

Advisors

Revenues and run way

Openscale

Shipchain update14/01/2020

January 2020 AMA executive summary:

https://blog.shipchain.io/from-the-desk-of-the-ceo-1-14-2020/

https://t.me/shipchainunofficial/19258

Business development

🚚 Shipchain's Track and Trace Platform + the Delivery Experience Manager (the Final Mile solution designed for small and medium shippers) + the Android Mobile App are all LIVE PRODUCTS with LIVE CUSTOMERS.

🚚 Txs ran on ETH right now, to be transferred to SC Mainnet (incl staking) within Q1 2020.

🚚 Why? Need to get it right first time, can’t roll back a blockchain once it’s live. Engine code and Karma system details to be finalized first.

🚚 The Food multi-billion company hinted in last AMA belonged to the Plug And Play Accelerator.

🚚 Final Mile delivery designed to be a quick integration for small & medium 3PMs. Compensating long sales cycles with major corpo.

🚚 Currently not running any active pilots with Perdue Farms

Software development

🚚 Dev priorities for 2020: Shipchain 1.5, Shipchain's mobile app (already live on the Playstore), more advanced Geofencing, better identity management for shippers, and payment triggers.

🚚 In contact with the Chainlink team to discuss how to implement Oracles (third party information sources)

🚚 ShipChain is a fork of Loom with a lot of enterprise-focused development on top, fully independent of the Loom Network, thus segregating the T&T from other dapps like Loom’s games.

🚚 A number of teams expressed interests in running their apps on the shipchain network.

Regulatory compliance & token economics

🚚 Foundation : not a fast process & does require Swiss government approval for certain steps. Getting legal framework worked out is key.

🚚 Shipchain will dedicate SHIP company reserves to staking (validator pool) and network security goals first. Details in Q3 2020 after the Foundation is live.

🚚 Shipchain Inc. will have to buy SHIPs to run txs on the network.

🚚 Openscale’s charter is being re-written (draft available within the community).

🚚 US jurisdictions not a showstopper for pursuing clients or pilots.

🚚 Permissioned chains in the US recently had to ask US Regulators for an antitrust exemption.

Team update

🚚 β€œBoth Roger and Chris have fulfilled their advisory roles with ShipChain” (past tense).

🚚 John nominated β€œSupply Chain Expert ” for The United Nations Center for Trade Facilitation and Electronic Business (UN/CEFACT).

🚚 Devika Soni has been promoted to the role of Director of Marketing.

🚚 Lee Bailey is no longer a part of the ShipChain team.

🚚 Jianwei Liu promoted to the role of Senior Research Scientist following completion of his Ph.D. at Clemson University.

🚚 Shipchain’s sales team is recruiting.

ShipChain Scam or Revolution

Interesting read about ShipChain pros and cons

medium.com

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