CargoCoin is working to create a global trade and transport ecosystem to provide trust-based and streamlined exchange of goods. Using smart contracts and a cryptocurrency platform, CargoCoin will help to decentralize the global marketplace from manufacturers to freight forwarders and all involved parties.
The main vision for this project is to create an environment that will allow for flawless trade and cargo document and payment exchange in real time. Transparency, security, traceability, and accountability are at the forefront of this ICO’s mission.
How will CargoCoin work?
CargoCoin’s online platform will facilitate various parties connecting and exchanging information on their cargo and transport needs in addition to other services. Smart contracts will then be used as a way to record the process the interaction from offer up through delivery.
These free online services will bring value to the CargoCoin token because they offer a solution to a multi-billion dollar problem. This will create demand for the token and therefore give it increasing value as more and more companies and parties use the transport and trade related services.
Shipping, inland transport, air cargo, and other future forms of transporting goods can all be accommodated with CargoCoin’s smart contracts and platform. This will reduce fraud, lower costs, and minimize delays—all major issues the industry currently faces.
Safe archiving will also be one of the ecosystem’s main features, this will allow for a full historic storage of all transactions and provide options for standard or customized negotiated terms that can be delivered in any language, breaking down existing barriers to successful transport and delivery terms.
CargoCion is a ERC223 token standard. While ERC233 is similar to ERC20, the ERC233 is able to accommodate more precise and universal handling of smart contracts, most importantly it eliminates the problem of lost tokens. ERC233 standard is a better designed for a project with this architecture.