CargoX launched the CargoX platform which is an open, neutral, and accessible blockchain platform in the shipping industry. Through this platform companies can transfer documentation via a cryptographically secure environment.
The CargoX platform is a decentralized and cryptographically secure environment for sending digital documentation by a public blockchain network.
It is based on CargoX’s Blockchain Document Transaction System (BDTS) technology and has the ability to transfer maritime shipping documents. In addition, endorsement types are available, along with a certificate of origin. Letter of credit and escrow service workflows are also supported.
The system can also store documents and data encrypted on a public globally accessible blockchain network. The network provdies data and document transactional history, while analytical tools and online archives can be available.
Moreover, the users of the platform can confirm all user authorizations and transaction verifications with extremely secure hardware ledgers.
Participants to a closed process will be able to see who owns the document, while documentation can be changed or resent if necessary.