Introducing CargoX Smart B/L Blockchain-Based Bill of Lading (B/L) Documents for Global Trade
CargoX aims to disrupt the global logistics industry by introducing Smart B/L documents based on blockchain technology, replacing old-style paper Bill of Lading documents. With the Smart B/L users will be able to state and transfer cargo ownership rights without the hassle of handling paper.
Blockchain and Smart Contracts are made for this industry.
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Disrupting the Shipping Industry
With Smart B/L on the blockchain there will be no need for paper B/L anymore.
Bill of Lading Fact Sheet
From the Past to the Future
A Bill of Lading is issued for sea-freight shipments and it gives the holder of this document the ownership rights to the cargo.
Using express courier services, it usually takes 5 to 10 days and it costs around $100 to get this document from origin to destination. By using Smart B/L, which is a blockchain-based token, we cut down the time and costs needed for B/L transfers. By sending tokens on the blockchain you can easily and securely change the ownership from Exporter to Importer which makes the Smart B/L tokens the perfect tool for claiming the ownership rights to the cargo.
Smart B/L is built on top of the blockchain’s capability to transfer digital value in an open and decentralised way, bringing this to the paper-plagued world of Global Trade.
This greatly reduces the time and costs associated with handling paper-based Bill of Lading documents, saving millions of dollars and reducing the burden on our environment.CargoX explained Watch short video
|Classic B/L Paper||Smart B/L|
|B/L fee (USD)||from 35 - 100||10 or CXO amount with discount|
|Sending costs (USD)||average 100||0|
|Change of ownership||by sending original B/L||Instant, from dApp|
|Time in transit||5-10 days||Instant|
|Can be stolen||Yes||No|
|Can be lost||Yes||No|
|Archiving||Expensive paper storage||Free for token holders|
|Cargo information (location, temperature,etc)||No||Yes|
CargoX.io in Media
- 40% of tokens will be offered to contributors in the Pre-Crowdsale and Crowdsale.
- 25% of tokens will be reserved for future development. They will be locked for 12 months in smart contract.
- 15% of tokens will be distributed to the founders and the team that brought CargoX to life. They will be locked for 12 months in smart contract with quarterly cliffs.
- 10% of tokens will be distributed to our advisors and ambassadors for contributing with their know-how.
- 8% will be reserved for future partners, strategic partnerships and adoption acceleration incentives.
- 2% will go to the bug bounty pool.
- 55% of funds raised will be used for Product CargoX Development.
- 30% of funds raised will be used for Marketing, Sales and PR.
- 5% of funds raised will be used for General and Administrative Expenses.
- 5% of funds raised will be used for Legal and Compliance.
- 5% of funds raised will be used for Security.
Roadmap and Milestones
Brainstorming and Market Research
A team of experts from IT and logistics created a concept of a transparent, user-friendly and very fast container shipping platform.
The idea for 45HC was born.
45HC was released in March 2016. For the first time, customers have instant shipping rates through several providers. From all over the world to their warehouse, without any hidden fees or excuses.
Accepted to ABC Accelerator and gets first small Angel investment.
New outfit for 45HC
The 45HC.com is completed with all MVP features. New responsive design raises market attention and attracts many new customers. 45HC becomes known as the skyscanner for cargo transport.
EUR 160,000 Investment
After a great year, we finally sign our 100k+ angel investment. This year we win PODIM’s Pitch challenge competition, we are the winners of the EBAN Winter University competition in Zagreb, and we also become Websi champions.
The team now has 10 members and our growth was over 600% on container volume on last year (whole year).
CargoX.io was born
Out of the desire to simplify the paper-plagued world of Bill of Lading documents, CargoX is born.
CargoX and 45HC are complementary products that benefit from synergies.
CargoX.io Pre-ICO preparation
The team is built, we attracted several key advisors. Raising additional funds through the ICO will help us implement our vision of the future of global trade.
The ICO will run in January and allow everyone to buy CXO tokens.
First Crypto Cargo Payment option
CargoX CXO token will be added to 45HC.com as a payment method. Paying for services with CXO tokens will give importers additional discount.
Release of B/L eXchange protocol
We will be releasing our B/L eXchange protocol and announcing the first beta trial Smart B/L sea-freight shipment.
Smart B/L dApp
Release of Smart B/L eXchange dApp. We have already signed an NVOCC (non-vessel operating common carrier - one of top 10 in the world) for the test trial. The Smart B/L will be issued in Asia for a container shipment from Asia to Europe.
Adoption of first NVOCCs, importers and exporters.
Add-on features (Banks & Insurers) ...
Extending the protocol to accommodate L/C instrument equivalents, insurance agreements ...
CXO as a settlement instrument
Upgrade of the protocol to allow for on-chain settlement, first by using CXO token, immediately followed by selected “stable” tokenised currencies. Potential candidates include MakerDAO’s DAI and DigixDAO’s DXO.