Blockchain shipping tech firm CargoX raises $7mn in seven minutes in Initial Coin Offering

Supply chain Digital | February 16, 2018

Blockchain shipping tech firm CargoX raises $7mn in seven minutes in Initial Coin Offering
The shipping technology start-up, CargoX, has raised $7mn in just seven minutes for its blockchain-based Bill of Lading platform. Its Initial Coin Offering (ICO) was met with overwhelming support from micro-investors, and puts the company “on the fast track to disrupt the global logistics industry”, according to its CEO Stefan Kukman. CargoX says it is building a blockchained Smart Bill of Lading solution to offer low-cost, safe and reliable transport of this value-carrying document, featuring securely integrated financial services and cryptocurrency payments for the entire logistics industry. In a statement, the company claimed its blockchain-based Smart B/L that will replace outdated Bill of Lading paperwork. “International container shipping remains one of the least modernised sub-sectors,” it added.

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