CargoX: blockchain for international logistics

cargox

For some time now, this part of the international logistics industry has been testing solutions based on blockchain platforms. CargoX is one of the most recent, and we will talk about it on this occasion.

The maritime transport industry has an innovative platform that will allow secure transactions thanks to the open, neutral and above all accessible blockchain system for users.

CargoX is an innovative platform of its kind that offers a decentralized and secure ecosystem for sending digital documents through a public blockchain network.

In this network, customers can send information related to freight shipments, common operators that do not operate on ships, files of exporting and importing companies and alliances, as well as global forwarding networks.

cargox platform

A simple platform for maritime companies

The innovative platform of CargoX is based on the Blockchain Document Transaction System (BDTS), which includes the ability to create, transfer and declare the undoubted property of information or documentation quickly, easily and safely, for peace of mind of customers and consumers.

The system also includes the master bill of lading, maritime guides and other types of personalized documents and attachments.

The CargoX platform system is also responsible for storing documents and encrypted data securely in a blockchain public network that is accessible worldwide, so companies or organizations do not need to implement new infrastructure or commission to carry out these activities.

Users of this system do not have to worry if the company is large, medium or small because the platform can be used by companies of any size, even if they only need to send one BL per day, or if their daily process includes hundreds of documents and files.

The CargoX platform is already being implemented by the Swiss global logistics specialist Fracht AG, Sprint International Express, among other companies. In addition, CargoX confirmed that blockchain-based letters of credit and commercial financing solutions will soon be added to the platform in order to continue to improve the system and meet the needs of customers in the maritime sector.

But there does not end the good news that has the CargoX platform in terms of development of the block chain in the aforementioned industry. It was recently confirmed that nine maritime transporters and terminal operators signed a memorandum of understanding to form a consortium that is responsible for developing the Global Shipping Business Network (GSBN), an innovative digital solution that will be based on distributed accounting technology.

The new platform will connect all interested parties, including carriers, terminal operators, customs agencies and finally, logistics service providers in terms of digitizing their supply chain and making the process much easier, saving time, effort and money.

This incredible planned application will give the senders the opportunity to digitize and organize their dangerous goods documents and automatically connect with important and involved parties to streamline the approval process. The application is scheduled to be available in the market by December 2018.