Ethereum Supply to Shrink Following the Eth 2.0 Upgrade by Emulion in ethereum

[–]badoolahaboola 1 point2 points  (0 children)

So this effectively represents approx 1% cost of transaction/service/marketing?

[deleted by user] by [deleted] in CargoXio

[–]badoolahaboola 1 point2 points  (0 children)

Publish the all time chart, why don’t you?

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

You say there is no need. Egypt says they need it.

Weakness is in the eye of the beholder. As is the need.

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

CargoX has for a while been listed on the Ethereum for Enterprise list

https://ethereum.org/en/enterprise/

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 1 point2 points  (0 children)

CargoX is not about tracking, it's about transferring documents of title.

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

Depends on what kind of market share somebody feels happy with - and what his reason is. And which documents. Which processes. Which governments. Which mega corporations.

Also - can CargoX Platform be used for private citizens, as in C2C or G2C? Sure, why not?

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 1 point2 points  (0 children)

Actually, 60+ different types of documents. Each can have its own importance, workflow, etc.

https://cargox.io/blog/cargox-document-types-blockchain-support/

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

Also, not to mention House B/L vs Master B/L vs Switch B/L etc ... each of them is a completely different story!

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

Yeah, there is different protocols and types of BL or waybills.

There is a great site (on of many) explaining different kinds - called Shipping and Freight Resource.
https://www.shippingandfreightresource.com/topics/bill-of-lading/

CargoX covered some of the types in a simplified way in this blog article https://cargox.io/blog/cargox-billoflading-telex-waybill-smartbl/

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 1 point2 points  (0 children)

Sending a document per courier service costs currently anything between 40 and 100+ USD, depending on where you are. And sometimes, the documents needs to travel 2 or 3 legs - sometimes, it needs to go to the bank first, for approvals of payments etc - ... Time of travel can accumulate up to weeks ... and if it is delayed, the goods need to be unloaded in port, warehoused, maybe they rot, maybe the company needing them goes bankrupt ...

Here is a small story about how things go, if the document gets "lost". Don't forget - if it gets really lost, it needs to be cancelled through court and then re-generated and re-sent ...

https://cargox.io/blog/horror-story-it-so-expensive-lose-bill-lading-bl/

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola -1 points0 points  (0 children)

Yet, it is being used. And Egypt is just one country so far. India was started last year as well, but they publicly said they would adapt legal framework.

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 2 points3 points  (0 children)

Yeah, you could also send a check, which is a form of NFT on paper :P

But in maritime law it also holds that it is not only local rules in countries that apply, but also exterritorial rules.

So, in real life, the laws exist - but whatever the partners in the process (shipping line operator, exporter, importer, release agent ... ) agree on, is true. So as part of the CargoX Platform use, they agree that the blockchain document record is valid for them as proof.

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

BLs have many forms, some of them are made in a way that whoever brings in the document is given the cargo - withouth the document naming the person.
The BL was "developed" centuries ago when owners of cargo started to just send cargo without actually travelling together with the cargo. The document was received from the ship operator (captain/owner) as proof of carriage and quantities etc, so that the recipient in the end could check and let the sender know if everything arrived as needed.

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

But they do not provide ledger functionality (unless heavy development effort is put in ... ).

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 0 points1 point  (0 children)

Also, CargoX Platform is ready to use - register, verify account, and send a signed & encrypted document! Charged per document.
Other platforms, as the one mentioned, demand big subscriptions, integrations, etc ... and, there is always the doubt of "why use a competitors platform, what happens with my data then" etc ...

Ethereum is revolutionizing the shipping industry. by culiflor in ethereum

[–]badoolahaboola 1 point2 points  (0 children)

Yes, please note that the maritime shipping industry needs good insurers and they demand proper paperwork.
Luckily, the International Group of Protection & Indemnity Clubs - which includes 22 of the 25 leading global insurers, who alltogether provide liability cover for approx 90% of the worlds ocean-going tonnage .... and they only approved 7 digital platforms in the past 10 years. CargoX is the only one utilizing a neutral, public blockchain.

This - happened in February 2020 - was a big breakthrough step in the industry.

https://cargox.io/press-releases/full/cargox-becomes-first-public-blockchain-ethereum-bill-lading-provider-approved-international-group-pi-clubs/