CargoCoin (CargoCoin) ICO Review – ICO Token News
CargoCoin is designed to be a smart contract, crypto currency platform, decentralising global trade and transport. The platform target is to facilitate and optimise the interaction amongst traders, freight forwarders, shipping lines, booking agents as well as all other parties involved in the international trade and transport of commodities and cargoes. The platform users experience outlines well-balanced ecosystem based on cutting edge crypto security and frictionless interaction. CargoCoin platform options provide infinite possibilities for added value to the users and the participants. All utilities on the platform operate with CargoCoins. The ultimate aim is boosting demand and facilitating the usage of the tokens. CargoCoin Team interest is set in line with the interest of the ICO supporters!
What is CargoCoin?
The full scale scope of the project extends to all trade and transport areas i.e. the shipping industry (containers, bulk, break bulk, liquid bulk), inland transportation (trucks, railways), air cargo (transportation by planes, drones, etc.), other types of “new age” transport such as pipeline transport, space cargo, intercity and outer city shared rides. Dedicated platforms for the different types of transport will be interconnected, allowing for infinite functionality. The objective is the creation of synergy between the commodities & cargo traders with all transport means on a global scale. The integration of all participants and utilities delivers unique, FIRST of its kind Ecosystem.
CargoCoin is designed to utilise the platforms, both as a secure transfer and storage method by the means of smart contracts, as well as a payment unit for services, freight and cargoes. The CargoCoin concept fully unleashes the potential of block chain crypto currencies to act, not just as a means of payment and store of value, but also as an interactive way of sending, receiving, approving, rejecting and signing documents through the process. CargoCoin is to be based on the newest ERC223 token standard. It has major improvements compared to the ERC20 token standard. The ERC 233 allows for more advanced, precise and universal handling of smart contracts, required for the project, while avoiding potential token traps. The issued tokens are designed to fully act as smart contracts programmed in Solidity and available as open source for everyone to review and inspect the code, thus serving all purposes of the project simultaneously.
Trade & Transport on a Global scale
Transport is a key element of the international trade. Any physical commodity or good which is manufactured and traded is to be delivered. Transport enables trade between people, which has proved to be essential for the development of civilizations. The right mode of transport is fundamental to ensure efficient and costeffective trade. The right partner, at the right time and right price is essential in order to achieve efficiency. There are four ways of transport – sea, road, rail and air. In most cases more than one type of transport is used. The shipping industry is the least technologically developed economic sector. This fact allows us to introduce the CargoCoin and penetrate the global marketplace at faster pace with relatively low competition.
The Business Mode
The CargoCoin platform links the physical world of trade and transport to the online crypto technologies. The CargoCoin business model relies on rapid growth of user base. It is facilitated through the free services platforms. It is estimated that are at least 25 million active users worldwide involved in the trade and transport industries. These include importers, exporters, freight forwarders, ship brokers, charterers, shipping lines, NVOCCs, ship agents, ship owners, insurance agents, customs agents, private individuals and on. Presently there are few maritime transport platforms that are very limited in terms user base and geographical coverage. Some of them are expensive, others biased, owned by shipping lines with main purpose of controlling and collecting information for the enhancement of their own business. The CargoCoin platform is designed to be independent, secure and transparent, based on block chain technology. Presently there is NO competitor platform on the market that offers similar services in combination with smart contract Utilities. By offering a FREE alternative platform with no monthly or annual fees, we aim to attract between 750,000 and 1,000,000 active users from the maritime transport community during the first 2 years. This is realistically achievable target to seize a 3% market share through active marketing campaign, while offering free and efficient services.
The CargoCoin platform activities will be self-financed through small, competitive transaction fees charged for the smart Utilities contracts. The fees charge for the Utilities pillar i.e. Smart B/L, Smart L/C, crypto transactions will be subject to the level of the utilisation of the smart contracts. The transaction fee will vary, but in any case it is designed by default to be significantly lower, than the current industry standards.
CargoCoin’s designated short symbol: CRGO. A total supply of 100 mln. tokens will be offered at stage 1, each with 18 decimals. The ICO will be broken down in two stages – pre-ICO and an actual ICO. The pre-ICO will run for a very short period of time and will be open to the public for a set period of time. The price of 1 CRGO will be fixed at 0.50 USD during the pre-ICO stage. A total of 10 mln. CRGO tokens will be distributed during the pre-ICO stage. During the preICO, Supporters will be able to purchase CRGOs at 50% of its regular price. The pre-ICO will run for 15 days – from April, 1st 2018 @ 00:00 – April, 15th 2018 @ 23:59. The soft cap is estimated to reach USD 5 mil. Check ICO list to know more about ICOs.
Following the pre-ICO an ICO will take place and 55 mil. tokens will be distributed each at a price of 1.00 USD. The ICO will start on April, 16th 2018 @ 00:00 and will last until May, 15th @ 23:59. The ICO period could be extended if the hard is not reached. The hard cap is estimated to reach USD 55 mil. The total capitalisation of CargoCoin after completing the initial coin offering for stage 1 is estimated to reach USD 60 mil. Since CargoCoin is ERC223 based, tokens will be distributed after the ERC223 standard is officially released on the Ethereum blockchain and smart contracts are fully developed and tested, as issuing the tokens is irreversible and further changes to the dApp’s Solidity code cannot be made. To know current trend of ICOs, you can check ICO stats.
- Bogomil Alexandrov - FounderLead developer with 20+ years experience in financial software development. Blockhain developer. Software & Finance specialist. BA Finance and International Trade, University of Portsmouth
- Martin Iliev - Founder18+ years of experience in the logistics, shipping and international trade. Presently ship owner. BSc Economics & Business Finance at Brunel University London, MBA at Cardiff Metropolitan University, Wales.
- Cpt. Ilkay TopcuShipping, Transportation & Container specialist. Chartering manager at Mini Project Shipping Ltd., London. Qualified ocean going master.
- Christina SarastovaShipping & Transportations specialist, MSc Shipping, Trade & Finance, City University London. Martrade Group Germany - shipping, logistics and ports operations London representative. American Electric Power - shipping operations, commodities trade and derivatives.
- Georgy ZhelyazkovInland transportation specialist. Local assistant for transportation & economic matters at the European Parliament. BA Economics of Transportation from the University of National and World Economics.
- Iliana IlievaBusiness developer, BA Business Administration, University of Portsmouth, MBA Cardiff Metropolitan University
- Samuela ValkovaPR & Marketing expert, event manager, press communication
- Piyush GuptaBlockchain Developer, Indraprastha Institute of Information Technology, Delhi, India
- Kaushik GhoshBlockchain Developer having expertise in Ethereum, Bitcoin and writing smart contracts. Krishna Institute of Engineering and Technology, India
- Iva KitovaGraphics designer, St. Claire's College, Oxford, United Kingdom, Istituto Marangoni Milano, Italy
- Mihaila LukanovaUser Interface & Front-end Developer
- Bogdan TodorovFinancial specialist. MSc in Accounting & Finance from University of National and World Economy
- 1Q3 2017
START OF IDEA.We started the idea of integrating the shipping platform with blockchain payments and smart contracts.
- 2Q1 2018
ICO PREPARATION.Preparing the Initial Coin Offering for CargoCoin, gathering a team, selecting advisors, preparing whitepaper.
- 3Q2 2018
ICO LAUNCH.Launching the Initial Coin Offering for CargoCoin.
- 4Q2 - Q3 2018
SMART CONTRACTS. Programming of smart contracts on the ERC223 platform, testing and evaluation.
- 5Q3 - Q4 2018
DEVELOPMENT STAGE 1.Development of the global shipping platform, connecting importers, exporters, ship brokers, forwarders, ship owners, etc. (Stage 1)
- 6Q1 2019
BLOCKCHAIN INTEGRATION. Implementing blockchain smart contracts as core part of the shipping platform.
- 7Q2 2019
LAUNCH STAGE 1. Launch of the global shipping platform.
- 8Q2-Q4 2019
MARKETING STAGE 1. Year 2019 will be devoted to marketing and promoting the global shipping platform.
- 9Q4 2019
DEVELOPMENT STAGE 2. Starting the development of an inland transport platform (Stage 2).
- 10Q1 2020
LAUNCH STAGE 2. Launch of inland transport platform.
- 11Q2-Q4 2020
MARKETING STAGE 2. Marketing of the inland transport platform.
- 12Q4 2020
DEVELOPMENT STAGE 3 . Developing of the universal trading platform, directly connecting manufacturers, fleet owners and customers.
- 13Q2 2021
LAUNCH STAGE 3. Launch of the all purpose cargo platform.
- 14Q2-Q4 2021
MARKETING STAGE 3. Marketing of the all purpose cargo platform at stage 3.
- 15Q4 2021
DEVELOPMENT STAGE 4. Development of air cargo platform.
- 16Q2 2022
LAUNCH STAGE 4.Launch of the air cargo platform
- 17Q2-Q4 2022
MARKETING STAGE 4.Marketing of the air cargo platform.
- 18Q4 2022
DEVELOPMENT STAGE 5. Development of supply chain platform connecting stages 1, 2 & 4 (shipping, inland and air transport).
- 19Q2 2023
LAUNCH STAGE 5. Launching of the integrated platform.
- 20Q2-Q4 2023
MARKETING STAGE 5.Marketing of the intermodal platform.