Ljubljana, Slovenia-(6 June 2022) -CargoX, a leading company specializing in digital transfer of trade documents, is the Egyptian government by providing advanced Blockchain Document Transfer (BDT) services as a core component of the Advance Cargo Information (ACI) system implementation of air cargo. We are expanding our business engagement with. ..
The Advance Cargo Information (ACI) system provides governments with business intelligence and governance mechanisms before loading cargo from export ports, facilitates customs clearance of cargo, and transparency and audit trails of cargo movement within the paperless ecosystem. Is intended to create. Cargo XBDT service.
The ACI system is a core component of Egypt’s national single-window platform (NAFEZA) for international trade, operated by the public-private partnership company Misr Technology Services (MTS).
“The NAFEZA single-window platform for the digitization of sea freight trade document transfer between Egypt and companies around the world has been unprecedentedly successful. It is by more than 90,000 companies and entities around the world. Used and continues to build this momentum by adding air cargo document processing, which gives 30 entry points for airports, seaports, dryports, border posts, free zones, security warehouses, etc. “It will be,” said Lieutenant Osama Al-Sharif, Chairman and CEO of MTS.
Misr Technology Services (MTS) will make CargoX a gateway between the international trading community and Egypt’s Single Window of International Trade (NAFEZA) by providing blockchain document transfer services from January 2021. Approved.
The CargoX platform incorporates an automated blockchain document transfer (BDT) workflow for the ultimate level of immutability, transparency, reliability, and accountability.
CargoX launched a “trial” BDT service as early as March 2021 to provide sea freight. The service went “live” in October 2021. Within this context, the cargo shipper electronically pre-submits shipping documents and data in a safe and expeditious manner to ensure that import security inspections and customs clearance procedures are carried out on the Egyptian side prior to shipment. increase. Arrival at the port of Egypt.
Since its implementation at the port, the project has exceeded all expectations. Using the CargoX blockchain solution seamlessly and securely, we transferred over 1,500,000 real trade and financial documents and served over 100,000 customers.
By providing reliable document transfer services, the CargoX platform has become the fastest growing blockchain platform in the logistics industry. This is one of the most compelling examples of adopting blockchain as an important tool for streamlining global trade and commerce, as well as enterprise-to-government communication.
“NAFEZA has become a unified channel for customers exporting to Egypt by sea and now by air. The ACI system promotes shipping clearance, reduces costs, delays and loss of documents. Eliminate risk. Egypt is still a global innovator again and an important reference for modernization, “said Gamal Kotb, MTS General Manager.
For sea freight use cases, the benefits that the adoption of blockchain technology will bring to users are that the average freight release time will be reduced from 29 days to 9 days, and container detention and storage fees will be significantly reduced. included. As a result of the move to the blockchain, compliance costs for shippers in the maritime sector have also been reduced from more than $ 600 to less than $ 165. With air freight, real-time delivery of documents plays an even more important role because the freight travel time is much shorter and the process runs at a higher task frequency.
“CargoX CEO Stefan Kukman is proud to say that CargoX is developing cutting-edge digital solutions for world trade, perhaps the most important industry in the world.” increase.
“We are very pleased to already work with the most selected companies and leading governments in the logistics industry, making the CargoX platform the fastest growing blockchain platform in the logistics industry.” Kukman added.
About Cargo X
CargoX Ltd is a global company specializing in document transfer solutions based on blockchain transactions and ownership verification platforms. The founder’s core team brings together over 100 years of experience in the logistics, banking, programming, IT and blockchain industries.
Users of CargoX’s BDT platform can upload or create e-commerce documents and trade their ownership like money at any time through a global bank. This has the following advantages:
● An irrevocable transfer of ownership of a document
● Unbreakable, neutral, public Ethereum blockchain
● The event audit trail is only available to relevant participants
● Confidentiality and complete protection of data, identity, and business connections
● Over 65 document types are supported (eBL, eLC, Certificates, Contracts, Invoices)
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