The CargoX Blockchain Platform is Revolutionizing Logistics
Thanks to the CargoX Blockchain Platform, the shipping industry will save time, money, and headaches. It uses the CargoX Blockchain Document Transaction System(BDTS) to solve the frustrations that traditional documentation can cause when tracking shipments. Using the CargoX Blockchain Platform, any exporter or company involved in logistics can send a blockchain-based bill of lading to its recipient.
Normally, documents such as bill of ladings are stored in a single location, and then sent out either in a physical format or in an email, which makes it difficult to see a history of ownership, authorize users, or to track any changes. This can be a problem for shipping companies, who use bill of ladings to track goods. But a blockchain-based bill of lading solves all of those problems.
How CargoX Blockchain Works
All of this is possible thanks to the Ethereum network, which is a decentralized open-source platform that allowed CargoX to develop the BDTS. Its open-source, decentralized nature protects the records from being changed or lost. Only the owner of the private key associated with the Smart Bill of Lading public key can transfer the document, and because the records are stored on the public blockchain, their transfer histories cannot be changed, for malicious purposes or otherwise. ho can return or refuse the transaction. The recipient can preview the incoming transfer to save time and cost. Attachments can be included, such as warranties, invoices, etc. These transactions can be forwarded an unlimited amount of times, so parties can maintain a regular workflow or transfer documents to a bank if necessary.
This process takes twenty seconds.
CargoX Smart B/L features can also be integrated into existing business software using the CargoX API, so that business processes aren't interrupted but can still implement the features of the CargoX Blockchain Platform.
Why It's Better
This process makes shipping more convenient in a way it has never been before. When bill of ladings are passed hand-to-hand, they can be lost, and signatures can be forgotten or even forged. Between all the couriers, it can take 5-10 days to transfer a bill of lading and costs around $100. During that time, storage fees can rack up and the risk of damaged goods increases. With the CargoX Blockchain Platform, the bill of lading can go straight to the owner of goods, with no hassle in the middle, and save up to 100% in shipping costs.
Who makes it work?
CargoX is a talented team based in Slovenia with a strategic and supervisory office in Hong Kong.
CargoX is working to bring its Blockchain Platform to every shipping hub in the world so that bill of ladings can be fast, cost-effective, and safe.
CargoX SmartBL Presentation