CargoCoin ICO Review

CargoCoin ICO Review

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Product

To date, the potential of the freight market for maritime transport is estimated at US $ 380 billion annually, of which US $ 10.3 billion is only the provision of shipping services. The volume of freight traffic has been growing every year for more last 30 years. Millions of customers send and receive goods. At the same time, the market is almost closed to the ordinary customer. A typical customer, in order to send a shipment, is compelled to apply to maritime intermediaries, who often render services inappropriately, with huge margins or even scammers. There is no concept of smart contracts, letters of credit and bills of lading in the maritime market.

CargoCoin ICO is a platform that should interest carriers and customers of various goods, raw materials and equipment that are interested in their transportation. The platform is focused exclusively on sea transport. But in future - also in air cargo. With its help, customers and carriers can be conditionally free to bind and carry out their own transportation, to pay direct freight.

By implementing and integrating the technology blockchain, smart contract, CargoCoin platform developers plan to reduce fraud and overstatement in international shipping by sea. Smart-contract CargoCoin, by analogy with banking mechanisms, will not confirm or transfer the deposited payments, until some of the conditions specified by the parties are met. These conditions are defined in a smart contract.

Accordingly, when working and making payments in the CargoCoin platform, the costs for depositing, etc. will be reduced, which will make the use of platform mechanisms more profitable than banking services.

CargoCoin states that the system will provide for an instant exchange of documents that will confirm the fulfillment of obligations between the parties. This will allow the launch of mechanisms provided for by smart contracts and only carry out verified, reasonably justified payments for delivery.

The use of the CargoCoin platform will undoubtedly increase confidence provided by real mechanisms and functions of checks and balances between customers and carriers.

Blockchain technology is fully integrated into the CargoCoin platform, which makes the storage of user information absolutely safe and reliable.

How it works? Customer - forms in the CargoCoin platform a smart bill of lading, a letter of credit and a deposit account, carries out insurance; the carrier - accepts the order and provides the provision of services with a number of guarantees. Due to smart contracts, payments are received in installments, as the carrier fulfills its obligations.

The customer will be able to track the movement of the goods.

At its core, CargoCoin features are similar to the booking service of Booking.com hotels. Those. armor, deposit, use services \ render services.

Project Tokenisation

All calculations for the carriage of goods, etc. will be implemented in the internal token CargoCoin - CRGO. In our opinion, such a service, really, was not enough. The service will be in demand in the maritime shipping market. The cost of the CRGO token will be ensured by the mutual desire to receive the earnings of the carrier, who of course will not render the services at a loss, and the customer - who will receive the service much cheaper than using any intermediaries, etc. At the same time, CargoCoin does not exclude the possibility of participation in the platform, brokers, etc., but they will have to compete more than usual, which will lead to a reduction in the cost of the services they offer. The CargoCoin platform will provide full-fledged crypto-exchange operations and monetization - the withdrawal of funds from a decentralized system.

It is worth noting that the CargoCoin platform will provide customers with a range of additional services, for example, cargo insurance services.

Roadmap

CargoCoin has already achieved targets Q 3 2017 to Q 3 2018 roadmap, namely - prepared and launched by ICO. Now the project is at the stage of Q3 implementation 2018 - work is carried out on the programming of smart contracts in ERC 223, test - evaluation - analysis. CargoCoin project starts Q3 and Q4 2018 namely, it develops a global shipping platform, with the connection of ordinary users, shipbrokers, shipowners, exporters, importers, etc.

At the Q1 stage, the blockchain Smart contracts are to be introduced into the platform.

In Q2 2019 CargoCoin plans to launch a shipping platform with work around the world.

CargoCoin's plans are impressive, the roadmap provides the stages Q3 2019 - Q 3 2023, where the platform promotion, the launch of the B2B trading platform, and the formation and implementation of the air cargo platform are registered.

If everything is done, the CargoCoin service will become better and more powerful than any service, for example, Alibaba, TradeKey, etc. These platforms do not provide for the possibility of ordering and carrying out transportation.

Token CRGO

The nominal value of 1 CRGO is set at 0.50 US dollars. This price was relevant at the stage of the preliminary ICO, which has already been terminated. In total, at the stage of preliminary ICO, 10 million CRGO tokens were sold. During this period, about 5 million US dollars were collected. The discount was 50%. Now the main stage of ICO is selling the CRGO tokens. At the base stage of the ICO, is intended for the sale of 55 million tokens CRGO, with an established face value of 1 US dollar per 1 CRGO.

At the initial stage of the preliminary ICO, 10% of the total volume of CRGO tokens was sold. Now, at the main stage of the ICO, about 55% of the total volume of tokens is sold.

CargoCoin plans to achieve a total capitalization of $ 60 million.

CargoCoin works on ERC 223.

The project team is assigned 10% of the total volume of tokens.

Bounty -10%

The token reserve is 10%

The distribution of funds is as follows: 50% marketing and sales; development - 30%; administration - 10%; legal support - 3%; Stock listing - 7%.

The site of the project indicates a rather interesting bounty program.

All means of preliminary ICO are directed to software development. All subsequent fees will be distributed according to the above plan.

Project Team and Legal Framework

In the project CargoCoin two founders - Bogomil Alexandrov - professional software developer. Martin Il'ev is an expert in logistics, shipping, international trade. The specified persons have pages in FB, Twitter LinkedIn. The remaining 14 members of the core team have the necessary specializations to create and develop the CargoCoin platform directions. The relevant experience is also available. These CargoCoin project participants have a clear connection to projects through social networks. Communication with the platform of team members via FB, Twitter LinkedIn is also clearly traced. In our opinion, all members of the team have the proper qualifications, sufficient for the effective implementation of the project.

In the advisers of the project 11 people. Among them are well-known personalities such as Michael E. Bryant, Simon Cocking, Vladimir Loshkarev, Krasimir Georgievich.

The project has basic documents - WP, OnePager, rules and instructions.

The CargoCoin platform and the CRGO token are the Cargo Technologies Limited project. Company number: 11234558. Legal address: 99 Bishopsgate, London EC2M 3XD, United Kingdom.

CargoCoin cooperates with the following crypto exchange trading partners: Bancor, Nauticus, Extra Decoin, bitrue, Arousal, H & B. A lot of other partner structures are also listed on the project website. media.

The project is well represented and actively works in social networks. Please look for links on the project website.

Of the minuses

We would like to see a beta version of the CargoCoin platform. This, of course, will happen in the second quarter of 2019.  But now certainly this would increase the confidence of potential investors.

Conclusions

CargoCoin is extremely necessary for the transportation market. The growth potential for the token and platform is huge. Given the volume of the transportation market, it can be argued that CargoCoin and the CRGO token, taking into account all the goals set in the roadmap, will be the industry leader not only in transportation but also in trade. We recommend this project for investors. 

CargoCoin Rating

CargoCoin Rating

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