Were you aware that our entire society is dependent on the manner in which transportation progresses? Today, the shipping industry has become more prominent than ever - numbers show that every year, 5 billion shipments are registered worldwide. This is mainly done through air freight containers (1 million units) and sea freight containers (17 million such groups). However, quantity is not everything! There are a lot of problems that are currently weakening this industry:
- Many technologies and procedures installed in the logistics/cargo industry are outdated
- The entire process that concerns the transportation/shipment of logistics and goods has remained an extremely time-consuming operation. Often, more than 200 documents are needed to make a delivery happen!
- An increasing number of resources is required to fuel this industry: communication channels, employees, expensive technology, documents and papers
- All these pressing issues often lead to frauds, high operational costs for companies involved, increased delays all across the supply chain, lack of trust and breaches or losses of information.
Could there be a solution to this global market?
Introducing smart transportation based on the Ethereum blockchain
Did you know that nowadays, shipping means more than taking some cargo and moving it until it reaches its destinations? Technology has to optimise these processes and address the problems we just mentioned. How? By implementing the blockchain features, in a revolutionary way:
- Discover Cargocoin - a project that aims to connect the trade, transport and logistics industries to the blockchain. In doing so, it substitutes the paper documents with smart contracts and guarantees faster and more secure payments. Through the use of smart contracts, the need for intermediaries is considerably reduced. All data becomes safe, secure to access and to store! Payments can be made through the use of cryptocurrencies and data signing is more efficient!
- Through the use of a web-based platform, Cargocoin promises to succeed in connecting ship owners with brokers of cargo or direct cargo shippers. These major players of the transportation industry can directly interact, through an efficient and fast platform.
What else is new? Cargocoin introduces smart utilities - these components wish to supersede the old paper documents we earlier mentioned (for example the letters of credit and the bills of lading).
The mechanism developed by Cargocoin
First of all, the carrier has to create an offer through the application; here, it specifies the exact desired shipping terms and conditions
- It develops an electronic bill of lading and a letter of credit
- The carrier also pays the cargo insurance and then ships the cargo.
Second of all, the customer accepts the offer; tracks the cargo; pays port services, freight and all other required services
Cargo coin optimises the entire document flow and generates an instant payment to the carrier while charging a small commision.
Got Questions?
Learn more about this revolutionary project regarding the trade and transport industry at https://thecargocoin.com/. Find out more about the benefits that it brings, the projects’ roadmap and the CargoCoin ICO phases by browsing through the latest version of the white paper.
Awesome initiative @danizaharie
CargoCoin platform links the physical world of trade and transport with the blockchain.
The aim of the platform is to bring maximum demand for CargoCoin tokens. Through demand for the tokens the CargoCoin ICO supporters receive added value.
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The CargoCoin concept fully unleashes the potential of block chain crypto currencies to act, not just as a means of payment and store of value, but also as an interactive way of sending, receiving, approving, rejecting and signing documents through the process.
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Wow this initiative I’m totally in support of , we know how shipping goods could be challenging, even booking a flight for domestic use.
With the evolvement of cargo coin and it web based platform, I see shipping industry move to the next level . This is amazing, Blockchain flowing into everyday lives of humans and this is just the beginning I can say. Thanks for this information
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This sounds great. It would immensely simplify the existing system. However, I don't see a quick adoption of this kind of solution in the near future. The main obstacle would be legislation. Transportation is regulated by many laws, different in each country. To built and impose a new solution to the market is going to be extremely complicated if you have to be compliant with most laws. And in certain cases, legislation would have to evolve so this solution can be implemented.
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This is truly revolutionary, a coin that 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. This is a great innovation
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@danizaharie, CargoCoin is a new ICO that offers a technologically advanced blockchain based platform for the optimization of the cargo shipping industry. You nicely explained these new platform using current issues happened. I guess this would be better solution to this global market. The process is far from smooth or straightforward however. Shipping cargo requires supervision, care, and often a combination of sea & land based transportation methods to reach its destination. However your priceless so appreciated.
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awesome information thanks @danizaharie
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I would say it will be a revolution in high industries of economy and change the entire concept i guess.
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waw good
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Interesting idea and a well written article, thanks for sharing. I've smashed the upvote button for you and will look up CargoCoin. My main concern would be how scalable it is with countries and different regulations between states, governments and counties.
Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
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Cool concept bro
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Like you have said, transportation of goods has become the major problem.
Absolutely, decentralisation will always be the best of significant industry of any type most especially when it come to transporting good like you have talked about on here. I will love to check his cargocoin really work. As you have explained I believe it will really be of good substitute for the freight container. This is really cool update and information, I find it valuable.
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You got a 11.84% upvote from @postpromoter courtesy of @danizaharie!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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Sounds like a good use of blockchain technology. I will read the white paper later today
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Your Topic is Really High Leveling Thinking! I' Little man so i don't wanna inter fair your topic.
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Wow !
This could be the medicine that the chaos world need. Breakdown the capitalism, and all can be participative
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Looks interesting the way initiatives and apps around the blockchain can decentralize a lot of proccesses in our daily life.
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Me and a friend in the aerospace industry have been waiting for a project like this. Thr cargocoin is half the ptoduct we thought would be good. The other half would be the airline in my vision. Hopefully it happens soon.
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Awesome steps @danizaharie
CargoCoin platform will join world of trade and transport with the blockchain.
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