The reason for introducing this new idea
Cargo is the most popular way of transport that brings more than 90% products to your home. It's Trillion Dollar Business. It enables global trade to cost-effectively connect producers to the buyers. There is a very important document that is used during this process. This document is called "Bill of Lading (B/L)".
The Importance of Bill of Lading
The Bill of Lading is issued for sea freight shipment and it gives the holder of this document the ownership right to the cargo. Its value is the same as the value of the goods declared on. This is the main factor that makes the Bill of Lading one of the most important documents in Global Trade.
Therefore, this document needs to be transported by Express courier service. The Bill of Lading needs to be stored in a vault and kept in the archive for several years after the shipment is delivered. However, it can also be lost or stolen. Because of express courier services, the global trade is losing five billion dollars every year. Not counting time lost in transport and number of trees cut down for producing papers.
What is CargoX?
CargoX is the blockchain based Bill of Lading for Global Trade. It is a unique and innovative idea so there is no doubt that it will start dominating the Global trading industry in a very short span of time. Here are the details:
Mission
CargoX is going to transform this document from paper to blockchain. The CargoX will make this document more secure and free to archive. This is the perfect solution for this problem as it will enable the exporters to instantly transfer the ownership of the Cargo to importers right after getting paid.
By using express courier services it usually takes 5-10 days. And it costs around $100 to get this document from origin to destination.
Benefits of using CargoX Smart B/L
CargoX Smart B/L is a blockchain based token that helps in cutting down the time and the costs needed for B/L transfers. By sending tokens on the blockchain, you can easily and securely change the ownership from exporter to importer. It makes the Smart B/L tokens the perfect tool for claiming the ownership rights for cargo. So, CargoX is not only providing a safe and secure way of transferring this most important document but it is also going to save a lot of time and money.
Decentralized App
They have introduced a 100% secure and user-friendly app that can be used to transfer the ownership of the Cargo within a few seconds.
This idea is a unique and innovative idea and it has the potential to become very popular. So, you must become a part of their successful journey before it gets too late.
