Tuesday January 19, 2021
Bitcoin (BTC) $37,143.00   Ether (ETH) $1,413.46
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas.net
No Result
View All Result
Home Blockchain Technology

CargoX’s blockchain platform for global shipping industry now live

The platform can be used by businesses of any size, even if they just need to send one Bill of Lading per day, or if their daily process includes hundreds of documents...

Published by CryptoNinjas.net
11/14/2018

CargoX has launched its platform today to become the first open, neutral, and accessible blockchain platform in the shipping industry. Shipping, freight forwarding, NVOCC, exporting and importing companies, forwarder alliances and networks, and ecosystems providing solutions for logistics and supply chains all over the world can now start using the CargoX platform to speed up their business and slash costs.

The CargoX team also confirmed that blockchain-based letters of credit (L/C) and trade finance solutions, which are already in development and will be added soon.

CargoX’s platform is completely neutral and partner-independent, and it offers a decentralized and cryptographically extremely secure environment for securely sending digital documentation by means of a public blockchain network. It supports multi-user workflows, it is integration-friendly since it is accessible through a browser, and it requires only a minimum investment for customers to start using it.

Based on CargoX’s Blockchain Document Transaction System (BDTS) technology

This revolutionary solution gives companies the power to create, transfer, and state undoubted ownership of information or documentation, and the various types of maritime shipping documents are only the first to be available – among them, the master bill of lading, house bill of lading, telex and express releases, switch bill of lading, sea waybills, and other types of documents and custom attachments.

Flexible endorsement types are available, and a certificate of origin can be transferred or exported. Letter of credit and escrow service workflows are supported, where documents can be transferred to a bank in a couple of clicks – and the bank can join the platform just as the other parties to ensure the payment of goods.

The system stores documents and data securely encrypted on a public globally accessible blockchain network, so companies don’t have to implement any new infrastructure. The network offers the benefit of data and document transactional history, so analytical tools and online archives are always available.

Flexible workflows are also a big plus, and users confirm all user authorizations and transaction verifications with extremely secure hardware ledgers.

The on-boarding process is quick and easy, users only need to access a website, register with the CargoX platform, and learn the basics about using blockchain ledger wallets and the simple platform user interfaces. For the whole process to run smoothly, all process participants need to register with the CargoX platform – an invitation system is in place for that purpose, where users simply invite their business partners to join, and online help and live assistance is always available.

Companies opting for the CargoX platform will be able to create sea-travel documents quickly, send them within minutes, and always keep on top of the process timeline. Participants to a closed process can always see who owns the document, and document theft, damage, or loss are virtually impossible. Documentation can be amended or resent if necessary, all within minutes, and not days or weeks, as is now the norm.

The solution is already being implemented by numerous partners around the globe

Swiss global logistics specialist Fracht AG, Sprint International Express, the full service and 3rd party logistics provider, freight forwarder networks and platforms such as Globalink, Global Value Network, Ocean X, and Freightalia, tech consultancy companies such as DBA Group from Italy and Actual Group from Slovenia, and regional logistics companies TPG Logistics, Milšped Group, Europacific, and others are all eagerly implementing CargoX’s revolutionary system. Meanwhile, MakerDAO, a leading global blockchain solution provider, is one of CargoX’s main technology partners.

Stefan Kukman, CEO and founder of CargoX said:

“Blockchain platforms shouldn’t be treated and used as self-contained systems even if they do serve a particular purpose and solve a particular problem. In order to get as much as possible from these technologies, we need to build modular systems that efficiently solve problems – and then use these solutions to construct larger systems. The only way to do that is interoperability and we need to be careful to make systems as open as possible from the start. CargoX took special care to design its platform with ultimate open architecture in mind.”

FacebookTwitterLinkedinRedditE-MailTelegram

Related Posts

Sea cargo blockchain CargoX approved by the International Group of P&I Clubs

Sea cargo blockchain CargoX approved by the International Group of P&I Clubs

02/20/2020
Blockchain logistics platform CargoX integrates with fright manager solution RoadLaunch

Blockchain logistics platform CargoX integrates with fright manager solution RoadLaunch

09/17/2019

CargoX partners with IoT intelligent logistics platform RoadLaunch

01/29/2019
Load More

Discussion about this post

Recent Updates

Brave integrates IPFS to enable users to browse the decentralized web

Tellor introduces new localized stable token protocol

Crypto finance provider Amber surpasses $530 million AUM

SETL completes first CBDC fund transaction on live market infrastructure

Human Protocol to launch decentralized labor pools on Solana blockchain

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Purchase 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit

Trending Views

Billions of dollars in bitcoin becomes available to creditors of Mt.Gox bitcoin exchange

Zilliqa tokenizes rare single-malt scotch whisky casks, now available to accredited investors

Crypto payment and wallet project TenX shuts down

Fenbushi Capital launches $15M+ investment fund for Filecoin and IPFS ecosystem

Crypto exchange Poloniex launches XRP perpetual futures

  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2021 CryptoNinjas Disclosures | Privacy Policy