CargoX Launches Smart Blockchain Platform
CargoX has launched the Smart B/L platform, the first open and neutral blockchain platform in the shipping industry for real-world commercial use.
Businesses of any size, including shippers, freight-forwarders, and networks providing logistics solutions, can use the platform.
According to a statement, numerous companies from around the world are already using the Smart B/L solution, including Swiss supply chain specialist Fracht AG, and freight forwarder networks such as Globalink, Global Value Network and Ocean X.
The CargoX platform, which is partner-independent, offers a decentralized and cryptographically secured environment for transferring freight shipping documents on a public blockchain network.
Darko Djuric, CargoX, discusses how blockchain might be used to secure the cyber environment in a recent Port Technology technical paper
Integration-free and accessible through any web browser, Smart B/L also requires just a minimal investment for customers to begin using it.
In addition to this, companies using the service do not have to implement any new infrastructure, as Smart B/L provides data and document transactional history.
CargoX has described document theft or damage “virtually impossible”, although it can be amended or resent if necessary.
Stefan Kukman, CEO and Founder of CargoX, commented: “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.
“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.”