Home
Why The CargoX Platform
Videos
Platform Help Login Register
Menu

CargoX Platform for Blockchain Document Transfer is #builtonEthereum #poweredbyPolygon

May 21, 2021, 12:29 p.m.

(Ljubljana, Slovenia; Bengaluru, India - 21 May 2021)The CargoX Platform helps companies build trust in a trustless environment for the logistics, manufacturing, finance, trading, energy, and services industries. It is built on Ethereum, and powered by the Polygon scaling solution. 

It was built with a simple idea to tokenize the most valuable document in ocean shipping - the Bill of Lading - to avoid sending the document with courier services, and to transact it with the help of Polygon, a scaling solution built on Ethereum.

Tokenized document hashes are sent between companies/users as needed using the ERC721 NFT tokens, while highly encrypted documents are stored on a distributed InterPlanetary File System. CargoX has extended the platform to support more than 60 types of documents, among them the financial Letter of Credit, contracts, certificates, and other documents that might need the transfer.  Workflows can be adapted, and escrow services can be implemented.

Polygon has established itself as the go-to Blockchain for high-throughput NFT applications with more than 250+ Decentralized Apps using Polygon’s technology. The collaboration with CargoX is a brilliant use of Polygon’s technology at scale to solve a huge problem faced by the global shipping industry, reducing costs, and increasing speeds in the blockchain implementation.

Sandeep Nailwal, Co-Founder, Polygon: “We are thrilled to work closely with the CargoX Team, a company that is renowned for their Blockchain Data Transfer solutions. The CargoX Platform will help thousands of businesses bring transparency, speed and decentralized accountability by tokenizing Bill of Ladings, and we aim to strongly support their high-speed growth through Polygon’s scaling solutions.

 

Request a demo
View full press release

Other press releases

Vote TWICE! CargoX nominated for two strong Heroes of the pandemic awards at Transport & Logistics Middle East, among IBM, Accenture, TradeLens, Infosys, Amazon, and other leading logistics and supply chain companies
31 May 2021
The 2021 TLME Awards will again attract the region’s highest dignitaries, royalty, and high-ranking C-level executives to share in this magical evening. All award winners will be decided via a digital voting portal that sees the industry cast its ballots for the very best in the region.
Igor Jakomin, Ph.D., rejoins CargoX as deputy CEO
24 May 2021
Igor Jakomin, Ph.D., rejoins CargoX as deputy CEO. Mr. Jakomin is a veteran expert on logistics, supply chain, and transport, with rich experience in process digitalization, and strong connections in the industries and academia.
Misr Technology Services “MTS”, the operator of the national single window for Egyptian trade across borders platform, has authorized CargoX as the blockchain document transfer gateway for the Advance Cargo Information System
21 Apr 2021
The Government of Egypt has made mandatory Advance Cargo Information (ACI) declarations for all cargo inbound to Egypt starting on 1 July 2021. CargoX is authorized as the blockchain document transfer gateway service provider for the National Single Window for Foreign Trade platform (NAFEZA), built by Misr Technology Systems (MTS).
CargoX among companies selected for e-FIATA Bill of Lading proof of concept
10 Mar 2021
International Federation of Freight Forwarders Associations (FIATA) has launched a proof of concept to test the tracking solution behind its e-FIATA Bill of Lading (eFBL). CargoX is proud to be among the volunteering companies providing this proof of concept for the eFBL.
CargoX listed as a Cleantech 100 company
23 Dec 2020
Out of thousands of innovators from across the globe, CargoX was named a 2021 Global Cleantech 100 Company by Cleantech Group.
New partnership between CocoonFMS & CargoX brings costs savings and document security to supply chain management
10 Nov 2020
CargoX will be integrated into the CocoonFMS product CocoonTMP (Transport Management Portal) to allow 3PLs and freight forwarders customers to upload their documents securely using CargoX Platform for Blockchain Document Transfer (BDT).
CargoX utilizes the Matic Network for efficient real-time Blockchain Document Transactions (BDT)
2 Nov 2020
The CargoX Platform has connected to the Matic Network - a sidechain to the Ethereum blockchain - to provide even faster and more cost-efficient original document transactions.
Contour partners with CargoX to transform bills of lading
29 Oct 2020
Contour, the Singapore-based global trade finance network has announced its partnership with CargoX, the blockchain platform for transferring documents and data including a certified electronic bill of lading solution.
CryptoBLK and CargoX establish strategic partnership to advance global trade and supply chains
12 Oct 2020
CryptoBLK, an enterprise DLT/blockchain technology company, and CargoX join forces to streamline processes and accelerate digitalization in global trade and supply chains by integrating two blockchain platforms, Atlas Elite and the CargoX Platform.
CargoX competes among 12 supply chain semi-finalists at Pitch Your Startup
14 Sep 2020
CargoX will pitch at the Pitch Your Startup (PYSU) event held on 15 September in Luxembourg. CargoX is one of 12 semi-finalists in the category of Supply Chain.

Your free demo session with our experts

Please fill out the form below, and we will get back to you as soon as possible.

Trying to download the logo?

We have a better idea! Find high quality visuals in our press kit section.

Visit press kit