CARGOCOIN- Revolutionizing Global Trade and Transport by Decentralization

CargoCoin is a smart platform with the objective to create a global market place for trade and transport services supported by smart contracts & crypto payment methods. CargoCoin uses the blockchain to revolutionize the transportation industry by eliminating inefficiencies and creating massive value for businesses in the industry. The CargoCoin platform target extends globally to any trading company or individual, shipping line, freight forwarder, ship broker and other parties involved in the global trade and transport. The Platform has 2 cores i.e. SERVICES and UTILITIES. Maritime transport is the least technologically developed industry. This is the reason behind the decision to start off with this particular sector. The Services are FREE (no monthly or annual fees) and they are designed to create a global marketplace for trade and transport. Wide user base is a prime objective.

Businesses that wish to implement the CargoCoin platform into their existing business architecture can do so easily. This is because the CargoCoin platform is completely modular, which means that businesses can mix and match the various tools of the CargoCoin platform to fit their exact business needs. Businesses that don’t want to worry about customizing their documents can use standard forms and terms. Businesses can also create custom negotiated conditions and forms if they wish to. In this way, the CargoCoin platform is incredibly powerful because it provides a versatile tool.

The overarching goal of the CargoCoin platform is to optimize interactions in the international trade industry. This includes the interactions between traders, freight forwarders, shipping lines, booking agents, and various other groups that are involved in the process of international trade/transport of cargoes. In essence, the CargoCoin platform provides businesses with a global marketplace for international trade and transport.

CargoCoin will be able to optimize interactions in international trade for businesses by providing the highest-quality possible security, transparency, and accountability for businesses that use the CargoCoin platform.

All of these services will be provided for businesses at an incredibly low cost, so that businesses can save more money. Large-scale businesses can potentially save millions of dollars using the CargoCoin platform; this is money that businesses would otherwise spend on unnecessary fees with traditional platforms.

Goal of CargoCoin

WHY CargoCoin

The sheer size of the transportation industry is immense. The global value of seaborne trade is over $12 million. The value of freight rates in 2018 was $380 billion. Unfortunately although the transportation industry is one of the largest (if not the largest) industries in the world, there still have not been that many technological advances within the shipping industry in the last several decades. CargoCoin is a revolutionary technological improvement for the shipping industry.

Although unbelievable, this is completely true: original documents are still delivered using a courier. The fact that these documents are delivered by courier in the 21st century is absolutely ridiculous! You don’t need a genius to understand that. That takes up a massive amount of time and money for a business, when that time and money could be more efficiently used elsewhere.

Businesses have also faced situations where payments for transportation have been delayed by banks. These bank delays are caused by major inefficiencies within the banking institutions. Deliveries can take weeks before they first begin their journey. These delays and excessive delivery times can lead to unexpected opportunity costs for a business. The CargoCoin platform removes these inefficiencies with blockchain technology.

CargoCoin solves a number of problems in the shipping industry. These problems are;

Reducing Fraud, Lowering Cost, Minimizing Delays, Increasing Trust, Securing Information, and Safe Archiving.

Reducing Fraud: CargoCoin minimizes the possibility of fraud by providing a wide new range of accountability and transparency, thanks to the immutability and high level of trust of the blockchain
Lowering Costs: CargoCoin will significantly lower costs for businesses by simplifying the fee structure. With CargoCoin, Businesses won’t have to worry about hidden fees from banks, brokers, and insurers. All fees are completely transparent, so businesses know that they’re being given a fair price.
Minimizing Delays: CargoCoin will minimize delays by providing all parties involved with instant exchange review for approval of documents and payments. In traditional systems, delays are often caused due to obvious inefficiencies. Thanks to the blockchain, CargoCoin’s platform works 24/7. Unlike traditional systems, CargoCoin’s platform does not require human intervention to work. Simply reducing these delays will add massive value to the industry, as payment delays alone cost businesses approximately $19 billion per year. Now that’s a lot of money!
Maximized Security/Trust: CargoCoin uses the public Ethereum blockchain for its platform. This allows for complete security for businesses. Ethereum is a proven and trusted technology. Because of this, Ethereum guarantees the maximum possible security for its users, and that includes businesses that use CargoCoin as well.

CargoCoin ICO AND TOKEN DETAILS

The CargoCoin token is used to facilitate smart Bill of Lading (B/L) and smart Letter of Credit (L/C). CargoCoin refers to it as “smart” B/L and “smart” L/C because the CargoCoin platform uses smart contracts which provides businesses with the benefits mentioned earlier. CRGO Tokens is a valuable digital asset, which will be used on CargoCoin platform and at the biggest crypto currency markets. With the help of ICO CargoCoin plans to attract the investment resources at a wide range. As suppose, the token sale will be interesting for the owners of digital assets, who would like to transfer them into the more secured investment tool and not to tremble anytime they hear the news about the possible Bitcoin rate falling.

CRGO token will be based on the newest ERC223 token standard as it will be available in the very near future, which has major improvements compared to the ERC20 token standard. The ERC223 allows for more advanced, precise and universal handling of smart contracts, required for the project, while at the same time avoiding potential token traps. The issued tokens will fully act as smart contracts programmed in Solidity and available as open source for everyone to review and inspect the code, thus serving all purposes of the project simultaneously.

The main ICO began on April 1, 2018 and will end on May 15, 2018. With the token price of $1, Soft Cap of 5,000 000 USD and Hard Cap of 55,000 000USD.

Token Details