February 21, 2018
CargoX is going to use blockchain to make shipping processes more efficient by digitizing Bill of Lading (B/L), one of the most important documents in the shipping process.
It aims is to disrupt the global logistics industry by using blockchain to introduce smart B/L and eliminate paper versions of the legal document between the shipper and carrier which detail the goods a ship is carrying.
The company, a spin-off from an existing container booking platform business 45HC, which has an office in Hong Kong, but is based in Ljubljana, Slovenia, has already started raising money.
It reached a target of US$ 7 million through an ICO on January 23, 2018, with the initial coin offering (ICO) — an unregulated means by which a company raises funds for a new cryptocurrency — lasting 7 minutes and 40 seconds.
This is an impressive feat, but what is the company hoping to solve through its blockchain solution?
PTI Editor Laurence Doe spoke to Stefan Kukman, Founder and CEO of CargoX, to find out more.