Review ICO: CargoCoin - Revolutionising the global trade and transport by decentralisation

ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.

So did I and during my research I found the project in which I really put my faith: CARGOCOIN. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.

THE PROBLEM LOGISTICS INDUSTRY

DELAYS

The logistics industry suers from great losses caused by the use of old fashioned paper documents, such as Bill of Lading, Letter of Credit, CMR, Airway Bill. Paper documents need to be physically transported around the world as they are the title of ownership.

LACK OF TRUST

Parties do not trust each other and often rely on recommendations or limit their business activities to a circle of proven business partners or associate members, limiting their scope of doing business.

HIGH COSTS

The costs involved in the current logistics business model are very high, as they involve expensive courier costs, very high bank fees and transaction costs

INSECURE INFORMATION

The information is currently insecure, as each party involved in the logistics process has access to all the documentation. Since all documents are paper based are prone to easy reproduction by the usage of modern technologies

FRAUD

Global Economic Crime Survey in 2014 calculated that the fraud in the transport & logistics sector is up at 34%, steadily increasing each year. Such high rate of fraud accounts to additional high costs.

OPPORTUNITY COST

Empirical research shows that 25% of its lifespan cargo ships are just idling. Each idling day of a cargo ship costs as little as 10,000 USD, up to 150,000 USD, depending on the vessel size

CARGOCOIN - BLOCKCHAINING LOGISTICS

CargoCoin links the physical world of trade, transport & logistics with the blockchain, by replacing paper documents with smart contracts and providing secure escrow payments throughout the process.

CargoCoin is a smart platform with the objective to create a global market place for trade & transport services supported by smart contracts & crypto payment methods. The CargoCoin platform target extends globally to any trading company or individual, shipping line, freight forwarder, ship broker and other parties involved in the global trade and transport. The Platform has 2 cores i.e. SERVICES & UTILITIES. Maritime transport is the least technologically developed industry. This is the reason behind the decision to start off with this particular sector. The Services are FREE (no monthly or annual fees) & they are designed to create a global marketplace for trade & transport. Wide user base is a prime objective.

CargoCoin uses the blockchain to revolutionize the transportation industry by eliminating inefficiencies and creating massive value for businesses in the industry. Businesses that wish to implement the CargoCoin platform into their existing business architecture can do so easily. This is because the CargoCoin platform is completely modular, which means that businesses can mix and match the various tools of the CargoCoin platform to fit their exact business needs. Businesses that don’t want to worry about customizing their documents can use standard forms and terms. Businesses can also create custom negotiated conditions and forms if they wish to. In this way, the CargoCoin platform is incredibly powerful because it provides a versatile tool.

CargoCoin will be able to optimize interactions in international trade for businesses by providing the highest-quality possible security, transparency, and accountability for businesses that use the CargoCoin platform.

All of these services will be provided for businesses at an incredibly low cost, so that businesses can save more money. Large-scale businesses can potentially save millions of dollars using the CargoCoin platform; this is money that businesses would otherwise spend on unnecessary fees with traditional platforms.

WHY CargoCoin IS UNIQUE

CargoCoin solves a number of problems in the shipping industry. These problems are;

Reducing Fraud, Lowering Cost, Minimizing Delays, Increasing Trust, Securing Information, and Safe Archiving.

Reducing Fraud:

CargoCoin minimizes the possibility of fraud by providing a wide new range of accountability and transparency, thanks to the immutability and high level of trust of the blockchain

Lowering Costs:

CargoCoin will significantly lower costs for businesses by simplifying the fee structure. With CargoCoin, Businesses won’t have to worry about hidden fees from banks, brokers, and insurers. All fees are completely transparent, so businesses know that they’re being given a fair price.

Minimizing Delays:

CargoCoin will minimize delays by providing all parties involved with instant exchange review for approval of documents and payments. In traditional systems, delays are often caused due to obvious inefficiencies. Thanks to the blockchain, CargoCoin’s platform works 24/7. Unlike traditional systems, CargoCoin’s platform does not require human intervention to work. Simply reducing these delays will add massive value to the industry, as payment delays alone cost businesses approximately $19 billion per year. Now that’s a lot of money!

Maximized Security/Trust:

CargoCoin uses the public Ethereum blockchain for its platform. This allows for complete security for businesses. Ethereum is a proven and trusted technology. Because of this, Ethereum guarantees the maximum possible security for its users, and that includes businesses that use CargoCoin as well.

TOKEN AND ICO DETAILS

ICO is live 1 CARGO COIN =1$

ICO PHASE 4 ENDS OCTOBER, 31ST 2018

Price: 1 CRGO = 1 USD

Platform: Ethereum

Minimum investment: 50 USD

Soft cap: 5,000,000 USD

Hard cap: 55,000,000 USD

FUND UTILISATION

Research & Development: 30%

Marketing & Sales: 50%

Administrative: 10%

Legal: 3%

Exchange listing: 7%

ICO/FUND DISTRIBUTION

Pre-ICO: 10%

ICO: 55%

Team: 15%

Bounty & affiliates: 10%

Reserve: 10%

To invest with CargoCoin, you have to purchase CargoCoin tokens. To purchase CargoCoin tokens, Please follow these links; https://thecargocoin.com/b01274 or https://thecargocoin.com/order.html.

Supported crypto currencies: BTC LTC BCH BLK DASH DCR DGB DOGE ETC ETH EXP KMD LSK NAV NMC MAID PIVX POT QTUM STRAT SYS VTC USDT WAVES XMR XRP

Supported FIAT currencies: USD GBP EUR CAD AUD

Total token supply is fixed at 100 mln. tokens only. Compared to other ICOs our price may seem high, but this is due to the low token supply.

CargoCoin has been audited by AGS Legal and it has been determined that CargoCoin is not a security. At CargoCoin, We take privacy protection seriously. CargoCoin is registered with Information Commissioner's Office under the Data Protection Act of the United Kingdom with registration number: ZA335784.

ROADMAP AND DEVELOPMENT PERSPECTIVE

Above you can see the roadmap — how the team sees their nearest and long-term future.

TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT

Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field. We are not just a company founded solely for ICO.

For more information about the team members and advisors, please visit: https://thecargocoin.com/

The goal of the CargoCoin platform is to optimize interactions in the international trade industry. This includes the interactions between traders, freight forwarders, shipping lines, booking agents, and various other groups that are involved in the process of international trade/transport of cargoes. In essence, the CargoCoin platform provides businesses with a global marketplace for international trade and transport.

CargoCoin offers an integrated two pillar platform, providing a marketplace and smart contracts in conjunction with payment solution for the industry. It is a one of a kind all round project connecting all parties and covering the full supply chain in the transport industry.

CargoCoin (UK based) and UGSA (Dubai based) has entered in a strategic partnership to deliver the best customer experience in the shipping industry. CargoCoin will be providing free access to their shipping platform to UGSA members in over 20 countries, while UGSA members will be exclusively using the CargoCoin platform to offer their services and shipments.