Trade and transport works hand in hand with each other just like a mother and her child. So, transport is a vital element of the international trade. Goods and commodities which are produced needs to be delivered and that is where transport comes into place. Transport helps trade between people and has proved to be essential to the human race and to civilization as well. In order to ensure cost effective and efficient trade, it is vital to choose the right mode of transportation from the four forms which are road, air, sea and rail. And since the mode of transportation that exist today is up to four, more than one form can be used. Due to the fact that the shipping industry is lacking in the area of technological development, the CargoCoin is taking advantage of this and introducing its platform in order to enter into the Global market while the competition out there is still low.
CargoCoin will be based on ERC223 standard token which has a lot of more advanced improvements when it comes to handling smart contracts and avoiding potential traps involving tokens.
CargoCoin is created and designed to be a crypto currency platform, smart contract and also a platform to decentralize global trade and transport. The aim of the CargoCoin platform clear the way for smooth interaction between shipping lines, traders, booking agents, freight forwarders, and other bodies involved in the transportation of cargoes and goods as well as in international trade.
The objective of CargoCoin is to create a market place environment globally and also provide utilities which will help to improve exchange of documents, transportation, trade, and also options of payment at a very low cost in real time. The platform is based on fundamental principles such as accountability, high level of security, traceability and transparency. The platform is created in a great manner which gives room for participants to either take part of a section or combination of other sections.
Challenges Facing the Shipping Industry
One problem facing the shipping industry today is the poor technology. Despite the fact that the shipping industry is one of the largest economic sector, its technological advancement is very poor.
Freights and cargoes are also paid for in the traditional way that is, either through letter of credit or bank wire transfers. This method is very slow, expensive and are not confidential.
Also, most people in the industry has faced the problem of transactions of EUR and USD been blocked by correspondent banks of the US.
Money transfer delays and delays in the delivery of original documents have resulted in opportunity costs, extra costs and depreciation while also disturbing the long supply chain.
Solutions Provided by CargoCoin
CargoCoin will secure information with the aid of the blockchain algorithm technology. It will be impossible for sensitive information to be leaked. Even though it is fully confidential, it also allows for full publicity of the transactions details that are to be visible by all parties and the public.
CargoCoin ensures that fraud is reduced, minimized and even completely eliminated in most cases. It makes sure of that by ensuring not to release payments until the pre-set conditions by the counter parties’ are totally met and the available proof of the payment is public or secured.
Delays will also be minimized by CargoCoin. It does this by providing instant review and approval of documents, payments between parties involved and instant exchange. Since the blockchain does not depend on human intervention, it functions 24/7.
CargoCoin willl lower costs to a minimum. In comparison to fine print fees and high percentages that are incurred through the whole and are charged through agents, couriers, banks, brokers, insurers and others, CargoCoin will not charge cost for guaranteed payments.
CargoCoin is also flexible. It allows the parties involved to make the choice of selecting the terms they want to work with.
CargoCoin Token Details
CRGO token is an ERC223 token based on the ethereum blockchain, it will be the future token that will be utilised on the Cargocoin ecosystem and will consist of major improvements compared to the ERC20 token standard. The ERC223 token will allow for more precise, advance and universal handling of the needed smart contracts, necessary for the project. while at the same time avoiding potential token traps.
The CargoCoin will be distributed in the following way;
Pre-ICO Soft cap 10%
ICO Hard cap 55%
Team and advisers 15%
Bounty & affiliate program 10%
Utilization of Funds
Research & Development 30%
Marketing & Sales 50%
Exchange listing 7%
Meet The Team
The CargoCoin is revolutionizing trade and transport through the blockchain technology by fostering optimization. The platform can be fully trusted because it is founded and based on fundamental principles such as accountability, a high level of security, traceability and also transparency which is very vital. The CargoCoin platform is connecting the world of trade and transport to blockchain.
For more information about the project, kindly click on the links below;
Facebook page: https://www.facebook.com/thecargocoin/
LinkedIn page: https://www.linkedin.com/company/cargocoin/
YouTube channel: https://www.youtube.com/channel/UCH6E328MCvBIKeHe71Yf16A
Bitcointalk Ann: https://bitcointalk.org/index.php?topic=3224289
Bitcointalk Bounty: https://bitcointalk.org/index.php?topic=3565845
Telegram channel: @thecargocoin
Telegram supergroup: @thecargocoingroup
Bitcointalk username: kingairdrop
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1862137
Affiliate link: https://thecargocoin.com/b04332