The shipping industry is responsible for over 90% of the world's trade volume. More than 65,000 commercial vessels, registered in 150 countries, generate revenues of more than $5 billion annually with more than 1 million sailors. Most of the commodities we buy and use every day are made at the production site and transported to the end consumer by these commercial vessels. The shipping industry is at the heart of the global economy.
The platform will permit low-cost, efficient capital supply to shipping companies that operate economically with ships, and to provide its users with transparent and easily accessible information on opportunities through the blockchain.
The Tokenization of traditional ship funding increases access to and liquidity of such assets.
Ship-owners can secure the capital needed to purchase or operate ships at a lower rate than the interest rate of existing financial institutions. Besides, it is easy to attract demand for vessel investment on a global scale and drastically reduce the human and material costs incurred in consulting and operating with groups with diverse interests. Shipping companies can raise funds at a low price and concentrate on economic activity and management of the ship.
Minimize human intervention in existing ship operations based on one-touch transaction smart contracts that are processed on distributed ledgers.Galactica Network is eliminating most of the financial fees and human interventions from the current maritime investment with traditional financial・loan institutions, so all three parties (Financiers, Ship-owners, Developers) keep most of the value.
Galactica Network enables ship-owners to tokenize the commercial ships by eliminating many commission takers and human intervention that existed in the traditional capital markets.
The Galactica team consists of maritime industry and blockchain experts from Southeast Asia's leading conglomerate KORINDO Group, and NEOPLY(EOSeoul), top blockchain tech firm in South Korea.
Robert Seung is CEO of KORINDO Group, one of Indonesia’s largest conglomerates. Founded in 1969, the KORINDO Group is comprised of more than 30 affiliated companies with specializations in natural resources, paper manufacturing, heavy industries, financial services, real estate management, chemicals and logistics.
Yong-kil Kwon is CEO of NEOPLY, Korea’s leading start-up accelerator, and a leader of EOSeoul, EOS block producer. Yong-kil earned his master’s degree and bachelor’s degree in computer engineering from the Seoul National University. He has built an impressive portfolio of blockchain projects, including Klaytn, Terra, SENTINEL protocol.
Phil-sup Shim is a deputy general manager of PT Pelayaran Korindo, a shipping company of KORINDO Group. Shim has over 15 years experience on shipping business. He previously worked at SK Shipping, Dong-a Tanker, Samsun Logix Corporation while leads multiple ship sourcing projects with various type of ships.
Founder and CEO of NEOWIZ Holdings.
KORINDO Group and NEOPLY have invested in Galactica Network and its first ship. EOSeoul provides its technical resources and man power.