CARGOCOIN: IMPROVING THE SHIPPING INDUSTRY USING BLOCKCHAIN TECHNOLOGY

acryptoqueenkim (30)in #shipping • 6 years ago (edited)

Shipping transportation plays a major role in the world economy. Without shipping, it will be difficult to import and export, and this will definitely affect e-commerce industry the most. According to a notable research, it was stated that the shipping industry takes about 90% of all goods transferred internationally. So as a result of this, it is obvious that without the shipping industry, the international economy will crumble. However, the shipping industry has a lot of challenges of which if care is not taken the industry will sink and this will have adverse effects on the whole world. The challenges includes; Fraudulent activities, high cost, long delays, and lack of trust. This challenges however, has posed a major threat to the users of the shipping industry. For example, imagine you order some goods, and on getting the order through shipping, you discovered that what is inside the package is far different and lesser in both quality and quantity than what you ordered. That fraudulent act denote what many users of the shipping industry are going through most times. Due to these fact; the shipping industry has lost it's trust and reputation in the society. Now, shouldn't there be a need for fast restoration? Fortunately, Cargocoin has come with a perfect solution to restore the trust of the users back to the shipping industry. Now let's get to know Cargocoin.

WHAT IS CARGOCOIN?
Cargocoin is a new innovative platform that seeks to provide a reliable solutions to all transportation industry major the shipping industry. This platform seeks to improve the shipping industry, vehicles industry, and the air cargo through the use of the blockchain technology.

KEY FUNCTIONS OF CARGOCOIN
•This platform creates a medium that connects all transportation sectors and make them functions as one. This platform achieve this with the aim to create an interaction between them. •Cargo coin is an establishment that seeks to utilize all means of transportation, and developing a safe transfer and storage of data with the use of the smart contrats technology. •Cargocoin is a platform that add value and potentials to cryptocurrency with distinctive way of mailing, getting feedbacks and signatures on relevant documents.

For the platform to be able to serve it's users more efficiently, the platform makes use of an upgraded version of (ER) standard which is ER223 instead of ER20 the old version.
With the use of blockchain technology, the Cargocoin platform will recreate the shipping industry and clear the challenges they face through these innovations.
•Cargocoin brings solutions to the challenge of fraudulent activities in the shipping industry by creating a technology in which the payments will not be issued out unless the other party has laydown his/her terms and conditions. When all terms and conditions is met the payment will then be released. Isn't this nice?

•Cargocoin also reduced the high cost that the shipping industry posed on it's users by offering a much lower cost compared to the traditional shipping industry.
In conclusion, this platform reduce the delaying factor that many users in the transportation industry and especially the shipping industry. This platform will make trading extra fast and much more efficient.