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Interview with Bogomil Alexandrov, Co-Founder of CargoCoin

By Fiona
Published over 2 years ago


How did CargoCoin start?

Me and the other founder – Martin, have been discussing building a shipping and cargo platform for the last 10 years maybe and have discussed it a lot, but never felt was the right time to do it until 2017 when blockchain and smart contracts got popular and saw a great opportunity to integrate our original idea with the smart contracts to replace paper documents in the shipping industry at first, followed by other transportation areas. Blockchain was the missing part that was lacking in our idea in the past 10 years and finally, the technology that we needed was developed, tested and accepted by the market.

Why did you choose the transportation industry?

Martin has been working in the transportation industry for the past 20 years and I graduated Finance and International Trade from the University of Portsmouth, so it was a natural interest to develop in the international transport and trade industries.

What is CargoCoin and what makes it different from other projects?

CargoCoin is very different in comparison with any other project that is already on the market or that we know of is in the planning stage. All other projects are focusing on just a small niche in the transportation industry – they either focus on just shipping or just inland transportation, or they even focus on just part of a specific transportation sector. CargoCoin aims to cover all transportation methods and integrate them into a unified transportation system, utilizing blockchain and smart contracts. Currently, there isn’t a single platform allowing merchants or manufacturers to arrange their combined transportation by land, sea, and air in a single shipment. In addition to that CargoCoin is going to become a marketplace for merchants and manufacturers offering directly their products to other manufacturers and merchants and arrange for the transportation of raw materials, through the various stages of products manufacturing and finally delivering the finished products to the stores.

How is the ICO going so far?

CargoCoin ICO is growing by the day and is very welcomed by the whole community. To be honest, we didn’t expect people to be so welcoming to our project, but everybody seems to appreciate our efforts and idea. In just 2 weeks we built a serious community of very dedicated bounty hunters (over 1500 as of today and growing rapidly), which added to our existing community of supports to total over 15,000 people so far. We got featured in many publications and reviews and just yesterday got featured by Reuters in Japan. Our hard-working team of professionals from the transportation sector and IT gurus are really on to the project and are working with great enthusiasm, which is very motivating.

How will the platform work?

The platform is basically divided into 2 main pillars. One is the actual transportation platform, that will be kind of a marketplace or exchange for transportation and other services, where people will set their requirements and receive offers from ship owners, or ship owners will receive requests. The second pillar will be the integration of smart contracts in the process of Bill of Lading, Letter of Credit, insurance and other supplemental services.

What can people do with the token? Will it be available on exchanges as well?

The CargoCoin token (CRGO) will be used in accordance with all functions of cryptocurrencies, e.g. the first usage of CRGO will be as a utility token for creating and maintaining smart contacts in the platform and the other usage will be as a means of payment.

We have already been listed on 2 exchanges (Ethen.market and Arousal.io), and have listing agreements with Bancor and Nauticus, which will list our tokens as soon as the ICO finishes. As you already know Bancor was the most successful ICO of 2017 and is one of the most widely recognized exchange and network in the world today.

Which strategic partnerships are you planning to cooperate with for the development of CargoCoin?

We have already signed various partnerships with transportation companies, that are supporting CargoCoin and are willing to participate in beta testing and usage of the platform. Other than that we have become part of IBM global entrepreneur program, we have signed partnerships with crypto exchanges and have agreements with leading media partners and advisors, such as the world-famous Simon Cocking.

What can you tell us about the CargoCoin team?

CargoCoin’s team is divided into 3 parts:

1st part is the transportation specialist, that work on relations with partners from the transport sector, provide know-how and knowledge on how the system is to be built.

2nd part is the team of developers and IT specialist that I myself lead. We have web developers, blockchain developers, graphics & UI designers. The IT team is currently working on bringing the platform to the public for real-life usage.

What are the future plans?

CargoCoin starts with the shipping industry, as it is the largest of the whole transport sector and in the future will cover the other modes of transport, such as inland truck and railroad, air cargo and the currently emerging market for drone transportation. We intend to develop a unified transportation platform that will allow parties to interact in a single shipment with the different modes of transport and services. Additionally, we intend to launch a single marketplace platform for manufacturers and merchants. We have set our plans in a 5-year plan that sets our goals in the future development of CargoCoin.