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CargoX launches blockchain platform for shipping

CargoX has launched a neutral blockchain platform for the shipping industry, offering a decentralised and cryptographically secured environment for transferring freight shipping documents on a public blockchain network.

The CargoX platform is based on the CargoX’s Blockchain Document Transaction System technology. It allows companies to create, transfer, and state ownership of information and the various types of freight shipping documents.

Shipping, freight forwarding, NVOCC, exporting and importing companies, forwarder alliances and networks providing solutions for logistics and supply chains all over the world can join to use the CargoX platform.

CargoX pointed out that users need not implement any new infrastructure. The systems stores documents and data securely encrypted on a public globally accessible blockchain network.

Read more: Baby steps path to blockchain usage in shipping

“Blockchain platforms shouldn't be treated and used as self-contained systems even if they do serve a particular purpose and solve a particular problem. In order to get as much as possible from these technologies, we need to build modular systems that efficiently solve problems - and then use these solutions to construct larger systems,” said Stefan Kukman, ceo and founder of CargoX.

“The only way to do that is interoperability and we need to be careful to make systems as open as possible from the start. CargoX took special care to design its platform with ultimate open architecture in mind.”

Some companies already using the solution include Fracht AG, Sprint International Express, Globalink, and Ocean X.

The platform is suitable for use by businesses of any size, even if they just need to send one Bill of Lading a day, or if their daily process includes hundreds of documents.

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