After two live demonstrations in Europe, Blockchain-based logistics platform CargoX had declared it is ready to start beta testing with partners in the logistics and shipping industry.
Slovenia based shipping tech startup CargoX made the news earlier this year when it raised US$7M in seven minutes and 40 seconds to support its development of a new blockchain-based Bill of Lading platform called “Smart B/L”.
As the company’s Founder & CEO Stefan Kukman discussed with WorldCargo News at the time, CargoX believes there is space in the market for a “neutral” blockchain for exchanging bills of lading, independent of blockchain initiatives owned by shipping lines.
The blockchain “space” is getting more crowded by the week, and CargoX is one of many looking to get a toehold in the shipping industry. The company claims its demonstrations take it a step closer to adoption: “After simultaneous live demonstrations in front of hundreds of logistics experts at the 6th International Logistics Congress in Slovenia and members of the French Transport and Logistics Association (TLF) in Paris, France, CargoX’s platform is ready for global trade. The startup has already signed up several logistic companies as partners, including the European logistics leader Milšped Group from Serbia, and is in talks with other major freight organizations”.
The concept of using a blockchain to handle bill of lading transactions is compelling, but there are no real signs or strong indicators as to which of the blockchain startups is winning the race to a commercially viable service at this point. For its part, CargoX says it has “now reached the development minimum viable product (MVP) stage, meaning that it (the CargoX blockchain) is available to partners for internal and pilot testing, for reviewing the service, and for providing feedback to CargoX.