CargoX Blockchain Solution for the Import and Export Shipping Industry Launches
The recently announced CargoX blockchain platform is the first of its kind in the shipping business. Although it has existed for a short period, CargoX has already received multiple plaudits and accolades. During the IRU World Congress, it was identified as the best innovative startup. Also, it has been nominated for this year's edition of the Financial Times Intelligent Business Awards.
We are launching the CargoX platform today to become the first open, neutral, and accessible blockchain platform in the shipping industry. It can be by businesses of any size, with a minimum investment!#blockchain #shipping #cargox #live
— CargoX (@CargoXio) November 14, 2018
The CargoX blockchain solution is intended for companies operating in the shipping and logistics industries. Notably, this solution does not discriminate the size of the business. Its main advantages include the reduction of expenses and the improvement of the efficiency of service delivery.
Neutrality is the key selling point of the CargoX platform. As expected of a blockchain-based system, it is decentralized and security is offered using advanced cryptography methods. Interestingly, CargoX can be accessed using a standard web browser and is relatively cheap to acquire.
Generating shipping documents is made easy by Blockchain Document Transaction System, a technology framework on which CargoX is built. Besides, the technology integrates seamlessly with third-party platforms such as banks and payment solutions. Data is stored on a decentralized blockchain network and secured by advanced encryption mechanisms. Furthermore, all transactions are recorded on an immutable blockchain ledger, making them accessible in the future as a reference. Alternatively, users can leverage the flexible workflows functionality to confirm and validate transactions using hack-proof hardware ledgers.
As mentioned earlier, CargoX is accessible to businesses of all sizes. Registering for CargoX is a straightforward process. The platform is accessible through a standard web browser and features an interactive and easy-to-use interface. Some of the benefits of joining the CargoX platform include faster processing of documents, real-time tracking of shipments and security of documents and cargo.
At the IRU World Congress, CargoX beat 76 competitors to emerge as the best startup project. The IRU consists of hundreds of transport unions and companies across the world. Also, IRU client base consists of governments, the UN and other major international organizations. Therefore, this accolade is likely to increase the popularity of CargoX substantially.
Although it is yet to launch, the CargoX has already attracted several partners across the world. A few of the partnering companies include Ocean X, TPG Logistics, Actual Group, Global Value, and so on.
According to Stefan Kukman, the CEO of CargoX, blockchain solutions should not be segregated even if they are intended for solving a specific issue. Stefan believes that using a modular approach when designing systems is the best way of capitalizing on the benefits of technology. More specifically, he mentioned that these systems should be commutable with others to enhance interoperability. Kukman concluded by saying that the design of CargoX complies with these principles.