The importance of technology in our daily lives is undeniable. This is due to the fact that in today’s dynamic world, life without technology is meaningless. Technology, which basically refers to bringing together tools that ease creation, use and exchange of information, has a major goal of making tasks easier to execute as well as solving many mankind’s problems. As technology continues to advance and direct even more easiness in our lives, there is a need to stress how advantageous it has been to our lives and mostly how important it has been in the blockchain system. Through the use of technology, professional group of individuals were able to develop a platform called the Cargocoin,

This platform (CargoCoin blockchain technology) delivers revolution to trade and transport by fostering optimization, it solves numbers of problems in the shipping industry. As a trader, you should know that Transportation is a key element of international trade. Any physical commodity or good that is manufactured and traded must be delivered. Transport enhances trade among people, which has proved to be essential for the development of civilizations. The right mode of transport is fundamental to ensure efficient and cost-effective trade. The right partner, at the right time and the right price is essential in order to achieve efficiency. There are four ways of transport – sea, road, rail and air. In most cases, more than one type of transport is used. The shipping industry is the least technologically developed economic sector. This fact allows me to introduce to you the CargoCoin and penetrate the global marketplace at a faster pace with the relatively low competition.

CargoCoin has been developed to be a smart contract/cryptocurrency platform, decentralizing global trade and transport. This platform is designed to facilitate and optimize the interaction amongst traders, freight forwarders, shipping lines, booking agents as well as all other parties involved in the international trade and transport of commodities and cargoes. The platform users experience outlines well-balanced ecosystem based on cutting-edge crypto security and frictionless interaction. CargoCoin provides a global marketplace environment and utilities for facilitation of trade, transport, exchange of documents and payment options at low cost in real time. The platform architecture is based on the principles of a high level of security, transparency, traceability and accountability. It is set up in a way that the participants can take advantage of any part of it alone or in combination with other sections. It can be used as a very simple platform or as a complex smart contract utility with various payment options. The link between physical trade and transport with online crypto technologies delivers the opportunity for implementation of a large-scale project and allows for further expansion. CargoCoin platform options provide infinite possibilities for added value to the users and the participants. All utilities on this platform operate with CargoCoin. The ultimate aim is boosting demand and facilitating the usage of the tokens. CargoCoin Team interest is set in line with the interest of the ICO supporters!

The size of shipping industries is enormous and the merit of seaborne trade is over $12 trillion. The shipping industry is one of the largest economic sectors and it is the list of technologically advanced one. Before shipping is carried out, paper documentation is given for all shipped cargoes, no matter the means of transportation, all original documents must be sent by couriers, this process consumes time and money. All cargoes and freights are being paid for their service in a traditional way, either through bank wire transfer or a letter of credit. This process is so slow, expensive and non-confidential. Increasingly more often USD and EUR transactions are being blocked for weeks by US correspondents banks. These are encountered problems in the shipping industry. original documents delivery delays and money transfer delays causing an uncounted extra cost, opportunity cost and depreciation of assets, while disturbing a long supply chain.

This platform helps to tackle and provide solution to all the problems in the shipping industries, it reduces fraud by minimizing the risk of fraud and in many cases it completely eliminates it by not releasing any payments until the counterparties’ pre-set conditions are met and publicly available proof of the payment has been made or secured in a smart escrow utility. Payments will be guaranteed by default. Fraudulent endorsement and duplication of ownership documents are ruled out. CargoCoin will significantly reduce costs, compared to high percentages and other fine print fees that are charged through the whole process by banks, couriers, insurers, brokers, agents, lines, etc. Guaranteed payments will not incur any costs, as it is the case with Bank L/C at the moment. This platform also avoids the delay of goods and payment by providing instant exchange, review and approval of documents and payments between the parties involved. Further delays are caused by different time zones, different public holidays, etc. CargoCoin blockchain is always at work 24/7 and does not depend on human intervention. It is www.thecargocoin.com. It is estimated that payment delays alone cost around $19 billion per year (*UNCATD) in losses. The CargoCoin platform fully relies on full historic storage of all transactions ever conducted, thus avoiding risks of physical loss or destruction of paper documents, while at the same time allows easy search and review of past information stored in the cloud.

CargoCoin is so flexible and allows the parties involved to easily select the terms that they choose to interact with. Options for standard or custom negotiated terms, conditions and forms will boost the user experience. Elimination of language barriers will further facilitate the eco-system participants. Are you having the problem of insecurity in your trade?, no more problems for you!, because CargoCoin is naturally secured. It relies on the blockchain proven hashing algorithm technology. There is no possibility of sensitive commercial information leakage by intermediaries, such as banks, brokers, agents, etc. While it is fully confidential it also allows for full publicity of the transactions details that are to be visible to all parties and the public. Bellow; is a graphical representation of the importance of CargoCoin.

The development of CargoCoin has been set in different stages as follows:

1. Shipping platform – development of the global shipping platform, utilizing Smart Contracts (Smart Bill of Lading, Smart Letter of Credit, etc.), referred to as the platform in this whitepaper. The platform connects importers, exporters, freight forwarders, booking agents, ship brokers, ship owners, etc. into a single unified marketplace.

2. Inland platform – development of the global inland transport platform, utilizing Smart Contracts. The inland platform will cover all ground-based transport, such as trucks, railroad, pipes, etc.

3. Cargo all-purpose platform – development of a marketplace, utilizing Smart Contracts, allowing manufacturers to showcase their products and connect them directly with customers, through an established link to the ship and inland transport platforms.

4. Air cargo platform – development of air cargo transport, utilizing Smart Contracts, including cargo planes, cargo choppers and drones.

The target of this platform 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 & 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) & they are designed to create a global marketplace for trade & transport. The wide user base is a prime objective. The platform UTILITIES make the use of CargoCoins and generate demand. The Demand for CargoCoin and appreciation of its value is the ultimate objective of the ICO. The general public is aware that a lot of goods are shipped by containers. The CargoCoin transport industry competitors cover mainly container trade. The UNCTAD 2016 statistics show that 85% of the world sea-born trade is shipped in vessels, non-containerized. CargoCoin platform covers this large, but niche market with almost NO competition. With an experience of decades, The CargoCoin Team knows exactly what online environment shipbrokers, ship owners, charterers and traders would anticipate. The platform allows for a range of communication channels. It emphasizes on simple forms in order to keep it straightforward and save time. Detailed, optional fields-on-demand allow for in-depth interaction, as the main terms negotiations developed. This is a platform (Cargocoin) saves you all these costs in the shipping trade.

For more info about CARGOCOIN click on the link below; https://thecargocoin.com/docs/CargoCoin-Whitepaper.pdf OR https://thecargocoin.com/