CargoCoin (ECOSYSTEM)

iamadebolaji (9)in #cargocoin • 6 years ago (edited)

The CargoCoin Ecosystem

Participants & Target Audience:

The CargoCoin platform target extends globally to any trading company or individual, shipping line, freight forwarder, ship broker and other parties involved in the global trade and transport. The Platform has 2 cores i.e. SERVICES & UTILITIES. Maritime transport is the least technologically developed industry. This is the reason behind the decision to start off with this particular sector.

The Services are FREE (no monthly or annual fees) & they are designed to create a global marketplace for trade & transport. Wide user base is a prime objective.

The platform UTILITIES make the use of CargoCoins and generate demand. The Demand for CargoCoin and appreciation of its value is the ultimate objective of the ICO. The interest of the Founders, the Team and the ICO Supporters are fully synchronized.

HOW CARGOCOIN PLATFORM OPERATES

CargoCoin smart platform objective is to create a global market place for trade & transport services supported by smart contracts & crypto payment methods.

In order to introduce the SMART UTILITIES (smart contracts & payment methods) that create and increase the value of the CargoCoin we take a reverse but entirely market oriented approach.

The Core is a Global marketplace platform (SERVICES) facilitating the supply and demand for transport of all cargo types, including other essential services that are vital for shipping and trading. The use of the free services naturally implements the platform’s SMART UTILITIES. The Marketplace is designed to be FREE for all users.

The CargoCoin objective is maximum number of users, participants and enhancement of their interaction.

Currently no platform exists on the market that offers full smart contracts abilities and covers all types of transport. CargoCoin is set to create a circle that encapsulates all types of transport and cargoes into a single platform and then connect it to the traders of goods. This objective will be achieved by the two founding pillars of CargoCoin – the services platform & the smart contracts, utilising Blockchain technology of Ethereum.

Similar platforms that exist, cover only fragmented small areas of the CargoCoin services part. All of them are paid, up to USD 250 per month and biased. Those are created either to generate profit or to drag customers and information to its principal owner. (forwarding company or shipping line)

The market for trade & transport cargo platforms is non-saturated and has an easy entry. Becoming a market leader is a matter of offering free services in combination with the right marketing mix to promote and reach out potential users.

Blockchain implementation of the Smart Contracts

The CargoCoin Smart Contracts are based on the Ethereum blockchain and Solidity code and they represent DApp (pronounced Dee App). Solidity code is based on the ERC223 standard. The CargoCoin DApp is composed of two main layers:

Front-end application server and database storage
1. Solidity code, part of the Ethereum blockchain

The front-end or the CargoCoin platform initiates a Smart Contract creation in the blockchain, setting source and destination addresses. At the creation of the Smart Contract function transfer(_to, _value) is called to initiate the contract. The token talkback function is then called – tokenFallback(_from, _value, _data), which checks connects to CargoCoin and checks if the Smart Contract negotiated terms and checks are complete. The initiator and the receiver communicate through the platform regarding their shipment and negotiated terms. Once a term is met it is checked off in the platform. When all checks are complete the tokenFallback function is fully executed and complete the transfer of tokens to the destination address. If a dispute over the process arises, then the tokenFallback does not complete the transaction until the issues are resolved. The transaction could not be completed and it is reversed.

Solidity code for the smart contracts:

CARGOCOIN ICO

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.

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.

TOKEN DISTRIBUTION

CargoCoin will be distributed as follows:

10% pre-ICO (soft cap);
55% ICO (hard cap);
15% distributed towards the team and advisers. Available after up to 6 months following the successful completion of the ICO
10% bounty & affiliate program
10% reserved for exchanges liquidity, etc.