Home
Partners
Videos
Careers

Q&A with CargoX Founder and CEO Stefan Kukman

Jan. 28, 2018, 10:46 a.m.

CargoX is a start-up with ambitions of revolutionising cargo shipping, logistics, and supply chain management. However, your competitors are building similar solutions. How is CargoX leveraging its competitive advantage to make its “Smart Bill of Lading” a reality?

We are a small, but very experienced and flexible team with diverse skills. Members of the CargoX team have been active in logistics for a long time. We keep things simple, involving just enough people to make our product easy to use and widely adopted.

There’s another important component to our success. Technology companies often lack the shipping and logistics expertise necessary to break into this industry. On the other hand, logistics companies venturing into the tech field may be held back by their reliance on established, old-school business practices.

At CargoX, we have industry veterans from both sectors. We’re also neutral partners, which means that logistics companies can plug-and-play using our platform, without giving up important data and autonomy to big companies that are working on their own solutions. With CargoX, you are always in control.

The solution is comprised of a distributed app, a document exchange protocol, and a governing body, which is currently being established. Can you talk about the response that you are getting from the industry?

We are in negotiation with shippers and logistics companies that want to implement our solution. Bringing these logistics companies on board is the most important part of our business development strategy – we are building the product for them, not for us! That’s why being market neutral is so important. Global trade data is very sensitive – and we need to establish trust with our partners. The next step is to demonstrate the viability of our platform with a test shipment that will set sail in Q2 2018, with an already agreed-upon logistics company and their clients. The test shipment will travel from Asia to the EU.

How easy is it for logistics companies to onboard your technology, and what are the associated costs?

We are working on delivering a painless procedure for companies of all sizes. Every customer will need to register and complete a KYC (Know Your Customer) process, where we will also verify NVOCC licenses to establish roles and permissions on the platform. Once companies register, they will receive their public and private key for signing the Smart B/Ls. This can be done in the Smart B/L distributed application provided by CargoX, or with the help of the CargoX Smart B/L API integrated into the company’s system.

Generally, the companies can start using the system within a day, and there will be online training provided, just to make sure everything goes smoothly. When the CargoX Smart B/L API needs to be integrated in the company’s systems, this might take a couple of days, or a couple of weeks, depending on the workflow of the company. CargoX will provide integration services as well, through a network or partners.

How are you working with financial intermediaries such as banks and insurance companies to make CargoX is a widely accepted platform?

In the near future, we plan to roll out other products connected to our Smart B/L. We are developing a Smart Letter of Credit. The shipping industry currently wastes billions of dollars on spending related to letters of credit, which are used in global trade as a payment guarantees. We will announce more details about the Smart L/C in the second half of the year.

You are using blockchain technology to digitalise the Bill of Lading. Does that mean all the documents will be stored online in the cloud? Is that safe?

All data will be encrypted and stored in decentralised storage (such as IPFS, Storj, or similar). These are much safer than centralised storage, as they use the same blockchain security mechanisms as the billions of dollars worth of cryptocurrencies such as bitcoin currently in circulation. Actual ownership will be traded (sent) in the same way people send tokens today, from one wallet to another. To date, and billions of transactions later, hackers have been unable to penetrate the security of bitcoin, and besides – all data will be encrypted as well. We are fully confident that our approach to security is several magnitudes stronger than the existing state of paper B/L transportation and storage.

Can you explain how blockchain technology eliminates the complexity of ports and shipping?

Freight spends a lot of time in limbo on docks and in warehouses, waiting for the Bill of Lading to arrive, usually by courier. By electronically transferring this document with blockchain technology, the document is always on hand. The cargo is released right away to the right party.

Nobody is ever waiting around for the right paperwork, which means that NVOCCs can transport shipments and release them to importers right away, because everybody has visibility of the Bill of Lading. Nobody is waiting for the courier ⇌– or paying for one – and the transaction is recorded as soon as there is a handoff.

Rather than wait for the right paperwork to show up, we empower the exporter, NVOCC, and importer to communicate directly, eliminating the possibility for lost or delayed paperwork, and there are no outside parties to clutter up the process.

How will you persuade shipping companies to join the CargoX ecosystem?

Actually, this is our primary focus. Given the regulatory complications surrounding shipping lines, we have decided to focus (for now) on house Bills of Lading – those are Bills of Lading issued by NVOCCs. The first step is to make our solution an industry standard. The Bill of Lading exists to establish the legal owner of the cargo, and the demand for that solution is with the NVOCCs.

Our Smart B/L lets NVOCCs offer faster service to their customers, reducing costs and other paper Bill of Lading-related pains. Importers and exporters will be able to request our Smart B/L from their forwarding partners. Once importers and exporters realise that they can save hundreds,or thousands of dollars and valuable time on each shipment, they will press their NVOCC partners to use our Smart B/L platform.

Will companies pay for the Smart B/L services with cryptocurrencies, or classic money only?

Our platform will support all the legacy payment options with fiat money, but as we are a startup based on blockchain technologies, we are working on implementing cryptocurrency payment as well. There will be various service levels supported, and there will be additional features and services provided to holders and users of our CXO utility tokens.

What’s your suggestion for companies that are interested? Where should they start?

We encourage them to contact us for more information. We would love to talk to as many companies as possible, and we’re always looking for more partners for testing and developing – we have CXO tokens on hand to share with our partners to get them started, which they may then use for Smart B/L transfers, or hold on to them while CargoX grows.

Other press releases

CargoX Smart B/L™ showcased at FreightCamp freight forwarders conference, organised by the Pangea Logistics Network and Connecta Airfreight Network
23 Oct 2018
The CargoX Smart B/L™ solution was showcased at Freightcamp, a Pangea and Connecta global networks meeting, to more than 400 members of both networks.
CargoX partners with Sprint International Express consolidated shipping company
18 Oct 2018
CargoX, the provider of the Smart B/L™ based on the CargoX blockchain document transaction system (BDTS), partnered with Sprint international Express, a comprehensive cargo and logistics provider, to provide Smart B/L™ services to their customers.
CargoX ist ein Berliner
11 Oct 2018
We are opening a representative office in Berlin, the economic heart of Germany. Implementation projects for that region will be managed from this office.
CargoX leading blockchain provider at the Smart Ports & Supply Chain Technologies conference
10 Oct 2018
Igor Jakomin, COO of CargoX, presented the CargoX Smart B/L™ at the Smart Ports & Supply Chain Technologies conference, held by the cargo industry’s leading journal, Port Technology, in Europe’s premier port city of Rotterdam on October 2-3.
CargoX Monthly Review - September
4 Oct 2018
September was the month CargoX was waiting for. After working tirelessly it’s all systems go for launch - the Smart B/L™ solution is almost ready for any company that wants to start using it. Our engineers have fixed bugs and reviewed the software code, and our numerous partners have been testing the solution and providing feedback.
CargoX and the Globalink and Global Value Network partner to bring the Smart B/L™ solution to hundreds of forwarders around the world
27 Sep 2018
CargoX partners with Globalink and Global Value Networks, independent freight forwarding networks of over 200 freight forwarders, to employ the CargoX Smart B/L™ solution in their networks.
CargoX teams with Freightalia to offer the Smart B/L™ to more than 300 customers in their freight quoting and rate management system
25 Sep 2018
CargoX partners with Freightalia, the number one automatic quoting system created for freight forwarders, to give more than 300 customers access to CargoX Smart B/L™ solution.
CargoX Monthly Review - August 2018
4 Sep 2018
August was hot and so was the news!
CargoX and Europacific partner to innovate in logistics processing
31 Aug 2018
We have signed a partnership agreement with Europacific, a regional logistics company embracing technology to optimize logistics processes.
CargoX and DBA Group partner to serve customers in Italy and Balkans
30 Aug 2018
CargoX, the producer of the electronic blockchain-based Smart Bill of Lading™ solution, has signed an exciting partnership with DBA Group, an Italian technology consulting giant listed on the Italian stock exchange.
CargoX and Actual Group partners in the PORT-Line solutions for port logistics operations
29 Aug 2018
We have signed a partnership agreement with Actual Group, member of DBA Group, the provider of advanced and comprehensive IT solutions for supporting port logistics operations and for monitoring and controlling retail business systems in the oil industry.
A day to remember: The first ever blockchain-based CargoX Smart B/L™ has successfully completed its historic mission during a trial shipment from China to Europe
23 Aug 2018
The container, processed with the revolutionary new blockchain-based CargoX Smart Bill of Lading™, has been released successfully in the Port of Koper, Slovenia (EU), where it arrived on Sunday, 19 August 2018, completing its journey from Shanghai (China) aboard the cargo ship Ever Safety, and was shipped by one of the world’s largest freight forwarders.
CargoX Monthly Review - July 2018
2 Aug 2018
July was a month that brought about some dramatic events at CargoX! We joined BiTA, signed partnerships with Fracht AG and OceanX, and sent the first ever official Smart Bill of Lading for an official shipment!
First ever blockchain based Smart B/L was issued on a route from China to US First Lady Melania Trump’s home country of Slovenia
30 Jul 2018
This is the moment we have all been waiting for! The first ever official Smart Bill of Lading for an official shipment was issued on Friday, 27 July 2018, and the shipment is currently travelling from China to Europe, where it will arrive in the middle of August.
CargoX and the OceanX network partner-up to set new standards of excellence in the shipping trade
27 Jul 2018
CargoX and OceanX, the leading sea freight specialist network, have agreed on a strategic partnership, bringing the blockchain enabled Smart B/L to OceanX NVOCC members.
CargoX and Fracht AG partner to reshape global trade with blockchain
24 Jul 2018
We have signed a partnership agreement with Fracht AG, the independent Swiss family-owned company with over 100 offices and more than 1200 employees. This move gives Fracht AG the means to use the CargoX Smart B/L with its business customers.
CargoX, the producer of Smart B/L, joins BiTA
13 Jul 2018
CargoX, an independent supplier of blockchain-based solutions for logistics, has become the latest member to join the Blockchain in Transport Alliance (BiTA).
CargoX Monthly Review - June 2018
5 Jul 2018
June was a busy month, as always! Everybody is rushing towards the summer holiday season. But not CargoX - we are rushing towards the market’s adoption of our CargoX Smart B/L solution!
CargoX announces setting up a scholarship fund for students of maritime studies at the ICTS 2018
19 Jun 2018
CargoX is proud to collaborate with the Faculty of Maritime Studies and Transport of the University of Ljubljana. Announcing a scholarship fund at the International Conference of Transport Science, where we also presented our blockchain-based Smart B/L solution.
CargoX is setting up a scholarship fund for students of logistics who are keen on blockchain
14 Jun 2018
CargoX, the provider of smart public blockchain-based solutions for the logistics and supply chain industries, is proud to announce the establishment of a scholarship fund intended for students at colleges around the world. Among the first of these is the Faculty of Logistics at the University of Maribor, which will receive funding for a student of logistics.
CargoX Monthly Review - May 2018
8 Jun 2018
May was just another one in the line of busiest months ever for us! We got huge amounts of work done - our CargoX Smart B/L solution is in its final development stage, our partners are actively testing it, and we have made a lot of progress on some interesting integrations as well.
CargoX presented at the EurTradeNet Annual 2018
5 Jun 2018
The CargoX Smart B/L solution was presented at the EurTradeNet Annual 2018 event. Over 50 top managers from companies operating throughout the whole EU had the chance to see the Smart B/L at work, along with guests from Eastern Europe Customs offices.
CargoX at transport logistic China 2018, the leading trade fair for logistics, mobility, IT, and supply chain management
18 May 2018
CargoX is making moves across the globe and making an impact at all the world’s most important trade fairs. This is one of them!
CargoX at the Collaborative Innovation Days - blockchain applications and cases in logistics for a 30% improvement of end-to-end logistics performance by 2030
11 May 2018
The CargoX Smart B/L solution was presented at the Collaborative Innovation Days 2018, where blockchain applications and cases for logistics were presented. The event was organised by the European Technology Platform ALICE - Alliance for Logistics Innovation through Collaboration in Europe, and we caused quite a stir-up!
CargoX Monthly Review - April 2018
8 May 2018
April was a wild month, so we’d like to recap its greatness! The highlight of the month was when we presented a demonstration of the CargoX Smart B/L solution live, on stage, before audiences across Europe on April 12th, 2018. The demo was a complete success!
CargoX presented exclusively at the European Commission’s Mobility and Transport department
4 May 2018
The CargoX Smart B/L solution was presented exclusively yesterday in the office of the European Commission’s (EC) Mobility and Transport department, headed by Mrs. Violeta Bulc.
Patrick Vlačič, heavy-weight legal expert and ex-minister of transportation joins CargoX
25 Apr 2018
We are proud to announce that Patrick Vlačič, PhD, an expert on maritime, transport, and insurance law, is joining our team as our legal advisor!
New, fast-growing companies supporting us all around the globe!
20 Apr 2018
We are constantly expanding our network of partners and supporters. We receive dozens of applications every week. Among our many new partners and supporters, this week we are presenting four companies from Europe, Asia, and Africa.
The CargoX Smart B/L solution is showcased at the Faculty of Logistics of the University of Maribor to celebrate European Supply Chain Day 2018
19 Apr 2018
The European Supply Chain Day is celebrated every year on the third Thursday in April, and it is the day when companies from the logistics, industrial, and trading sectors open their doors and show visitors their internal workings.
See how CargoX writes history with the world’s first and only working public-blockchain based Smart B/L solution
17 Apr 2018
History is written when CargoX presents a live demo of the world’s first and only working public-blockchain based Smart B/L solution in front of 250 specialist and executives at the 6th International Logistics Congress held April 11-13 2018 in Portorož, Slovenija.
CargoX’s blockchain-logistics platform goes live before audiences across Europe
12 Apr 2018
CargoX successfully completed a live demonstration of its Smart B/L Bill of Lading solution, before audiences across Europe, marking the beginning of its beta testing phase and opening the platform to partners in the logistics and shipping industry.
Blockchain startup CargoX signs a major partnership with European logistics giant Milsped
9 Apr 2018
Partnering with Milsped Group, we have gained decades of real-world experience, and deep insight into logistics and supply chains from the cargo handling point of view at a large logistics provider.
CargoX Monthly Update - April 2018
6 Apr 2018
March was a busy month, and we have entered the busiest part of the year. Our MVP development is nearing its completion and internal testing has commenced. But we have also reached some milestones...
It’s Not a Test! Cryptocurrency accepted as payment for container shipments.
22 Mar 2018
Online shipping platform 45HC.COM has become the first shipping company to accept cryptocurrency payments for container shipping. They have integrated CargoX token (CXO).
Strong customer interest reaffirms the need for the CargoX Smart B/L
16 Mar 2018
CargoX is proud to announce first batch of supporters and potential customers, and encourages forward looking companies to join us.
CargoX Monthly Update - March 2018
2 Mar 2018
Read all about what have we been up to in February. While we have been active on multiple fronts, core efforts are on developing the platform and developing the business side.
Industry Veterans Raised Questions About Blockchain in Shipping — And We Answered Them
1 Mar 2018
With our market-neutral blockchain-based bill of lading platform, our goal at CargoX is to empower shippers.
MakerDAO and CargoX partner to revolutionise logistics, supply chains and shipping
21 Feb 2018
MakerDAO and CargoX are excited to announce a partnership that will result in a new generation of exciting smart contract applications in the field of supply chain, logistics and shipping industries.
Shipping Tech Startup (CargoX) Raises USD 7 Million in 7 Minutes
23 Jan 2018
Using CargoX’s Smart B/L, logistics companies can save up to $5 billion per year and cut up to 10 days off the time it takes to transport documents between shippers and receivers.

Trying to download the logo?

We have a better idea! Find high quality visuals in our Press Kit section.

Visit Press Kit