CargoCoin; Decentralizing Transportation System and Blockchaining Logistics
A BRIEF INTRODUCTION TO TRADE AND TRANSPORT ON A GLOBAL SCALE.
Trade is an important and basic factor to international trade, every manufactured or traded commodity has to be delivered to different places.
Transportation has proven to be an essential tool for the development of civilization, it enables trade between individuals.
In order to ensure an efficient and cost-effective trade, it is necessary to ensure the means of transportation is the right one. The available means of transportation include: sea, rail, road and air.
CARGOCOINS WILL PROVIDE THE FOLLOWING SOLUTIONS WHICH SERVE AS A PROBLEM TO THE EXISTING TRANSPORTATION SYSTEM.
There is a list of available problem with the present blockchain and CargoCoin will help to solve these problems.
• CargoCoin will help to reduce the risk of fraud and possibly eliminate it totally.
• CargoCoin will help to lower the present high cost and other charged print fee charged by banks, couriers, insurers, brokers, agent’s lines and others.
• CargoCoin will help to minimize delay with the provision of instant exchange.
• CargoCoin relies on the availability of public infrastructure built on the Ethereum blockchain.
• CargoCoin has a natural security system, it relies on the block chain’s proven hashing algorithm technology.
• CargoCoin will not only allow but it will fully rely on a full historic storage of every transaction ever carried out.
• CargoCoin has a high degree of flexibility and it will allow the parties that are involved to be able to select the terms they wish to interact with.
THE ECOSYSTEM OF CARGOCOIN.
CargoCoin hopes to have a global extension to trading companies or individuals, shipping line, freight forwarder, ship broker as well as other parties that are involved in global trade and transport.
The service has been designed to create a global marketplace for transportation and trade, with an available free service.
The platform will make use of CargoCoins and it will be able to generate demand as well.
A REVIEW ON THE POTENTIAL MARKET.
• Every participant will need to look for the right service at the right place and time.
• Every participant will need an instant transaction and also secure interaction at a very low cost.
• Every participant will need an exchange that is secure and fast documentation.
• The main participant will require an additional services.
• The bank payments are slow, they usually take up to 3 days.
OPERATION OF THE PLATFORM.
The objective of CargoCoin is to be able to create a global marketplace for trade and transportation services which is supported by smart contracts and the methods of crypto payments.
In order to introduce smart utilities which will be able to increase the value of the CargoCoin, we will take a reverse but a different oriented market approach.
CargoCoin as well as the objective to maximize the number of users, participants and to also enhance interaction.
THE AVAILABLE PLATFORM AND SERVICES.
• The shipping industry.
• The containers which include FCL, LCL and OOG.
• Availability of the dry bulk or break bulk.
• The liquid bulk which include tankers, chemical carriers, LNG and LPG.
• Essential service to trade and transportation.
• The presence of minning services.
THE SMART UTILITIES OF CARGOCOIN.
CargoCoin smart utilities have been designed to generate values for the available ICO supporters.
HERE IS AN EXPLANATION ON THE TRADITIONAL BILL OF LANDING (B/L).
This B/L is an essential document for international trade which is issued by the carrier or agents for shipments of goods.
There are three (3) main functions of B/L and they include:
• The documentation of the title, which shows the cargo owner.
• The contract of carriage.
• The documentation of receipt, which will certify that the carrier has received the goods from the shipper.
The bill of lading is a standard form of document which is transferable by endorsement. The ownership of Cargo will be changed while in transit.
There are 3 main parties involved in the bill of landing which include: the shippers, the carriers also referred to as agents and the consignee as well.
DISADVANTAGES OF USING A TRADITIONAL BILL OF LANDING.
• The bill of landing is usually not delivered in a secure way.
• It usually takes too long to get delivered.
• It is usually very expensive to issue or to deliver.
THE CARGOCOIN SMART CONTRACT B/L HAS THE FOLLOWING ADVANTAGES.
• The availability of a secure and an instant access.
• The presence of an instant release.
• The provision of an instant and secure blockchain delivery.
• It gives confidentiality.
• The presence of an instant endorsement.
• The presence of a secure endorsement.
• There will be a total elimination of fraud.
• There will be a quick and secure approval of draft.
• It will be cheap to issue.
• It will be cheap to send.
• There will not be an issue of physical lost.
OPERATIONAL PROCESS OF CARGOCOIN SMART BILL OF LANDING.
The shipper will send the bill of landing instruction to the carrier through the CargoCoin blockchain smart contract to the consignee and the carrier review and the confirmation of draft smart bill of landing on the CargoCoin platform, it is at this stage that the terms and conditions will be confirmed.
The carrier or its agent will be based on the shipper’s instruction as well as the consignee confirmation of details, at this point the change of details is impossible.
The consignee of the importer becomes a cargo owner once the bill of landing is issued and released by the carrier.
The shipper or the exporter for the meantime has an option to present crypto bill of landing to banks.
The carrier will release the cargo to the discharge port or destination to the consignee or importer against crypto verification of the smart bill of landing.
THE FINANCIAL OBJECTIVES AND THE MODEL OF BUSINESS.
DESCRIPTION OF THE BUSINESS MODEL.
• The CargoCoin platform will link the physical world of trade and get it transported to the online crypto technologies.
• The marketing of E-mail.
• The marketing of search engine.
• The advertising of social media.
• An exhibition of shipping industry.
THE ICO OF CARGOCOIN.
The designated short symbol for CargoCoin is CRGO.
During the first stage, there will be a total supply of 100.min tokens with 18 decimals,
There will be two stages to the ICO which is the pre-ICO stage and the actual ICO.
During the pre-ICO stage, the price for 1 CRGO will be 0.50 USD and it will be available to the public for a short period of time.
The pre-ICO will run for a short period of time, it will then be made available to the public for some time as well.
During the pre-ICO stage, a total of 10 min CRGO tokens will be distributed. During this period, supporters will be able to purchase GRGOs at 50% of its regular price. The pre-ICO will then run for a period of 15 days which will be from the 1st of April by 00:00 2018 till the 15th of April 2018 by 23:59.
The soft cap is estimated to get to 5 mil.
The 1st phase of the ICO will begin on the 16th of April 2018 @00:00 and the 5th phase of the ICO will not last longer than the 31st of December by 23:59 UTC.
The hard cap has been estimated to reach 55 mil USD.
CargoCoin is based on ERC223, it will be distributed after the official release of the ERC223 on the Ethereum blockchain since the token is irreversible and further changes to the solidity of dAPP code cannot be made.
THE DISTRIBUTION OF TOKENS.
The pre ICO (soft cap) will have 10%.
The main ICO (hard cap) will have 55%.
Team and advisers will receive 15% which will be made available after 6 months.
10% will be for bounty and affiliate program.
10% will be reserved for exchanges liquidity.
THE UTILISATION OF FUND.
30% will be for research and development.
7% will be for exchange listing.
3% will be for legal use.
10% will be for administrative use.
50% will be for marketing and sales.
THE ROADMAP FOR THE ECOSYSTEM DEVELOPMENT OF CARGOCOIN.
The roadmap of the project is basically based on the level of preparation, development, implementation as well as marketing.
The present stage of the initial coin offering will address the progress of the market up to the first stage.
The other stages 2-5 will be funded from the platform’s self-finance and other fund raising process of required.
• The beginning of the shipping platform was in 2017.
• The preparation of ICO was in 2018.
• The programing of Smart contracts came up in 2018.
• The ICO launch came up in 2018.
• The first development stage came up in 2018.
• The implementation of blockchain will be in 2019.
• The first marketing stage will be in 2019.
• The first launch date will come up in 2019.
• The second development stage will be by 2019.
• The marketing stage will come up by 2020.
• The second launch stage will be in 2020.
• The third stage for the launch will be by 2021.
• The third development stage will be by 2020.
• The third marketing stage will be by 2021.
• The fourth launch stage will be 2022.
• The fourth development stage will also come up by 2021.
• The fourth marketing stage will be by 2022.
• The fifth launch stage will be by 2023.
• The fifth development stage will be y 2022.
• The fifth marketing stage will be by 2023.
There is an availability of bounty/affiliate program.
SOURCE
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Authored by: geeboy88
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