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 | submitted by badoolahaboola to CargoXio [link] [comments] https://preview.redd.it/1qtwpente1i41.png?width=1920&format=png&auto=webp&s=0a9f338760fba83485f89676b7d61906f1dbbd4f (Ljubljana, 20 February 2020) - CargoX, the provider of the CargoX blockchain document transfer (BDT) platform, has been granted prestigious approval by the International Group of P&I Clubs (IG P&I). It has become the first and only approved provider to use the neutral, public blockchain Ethereum network for its platform. The International Group of P&I Clubs is an unincorporated association of the 13 principal underwriting Protection & Indemnity (P&I) Associations (Clubs) and their Affiliated Associations and Reinsured Entity. Between them, they provide liability cover (protection and indemnity) for approximately 90% of the world's ocean-going tonnage. Of the world’s top 25 reinsurers, 22 were featured on the group’s program in 2019. Ensuring ocean shipping resilience“The mutual club system has proved itself resilient and responsive for over 120 years. Future-proofing the group is not a novel concept, but it will be a key focus within the group going forward, and whilst looking ahead, the only certainty is uncertainty, the group, and its member clubs will be there to deliver the necessary solutions for their shipowners and to protect third-party interests,” emphasized Mr. Paul Jennings, Chairperson of the IG P&I, in the group annual review.“CargoX is fully committed to building trust among partners in the supply chain industry in a trustless business world. Providing a fast, secure, and efficient way to transfer documents of title, and herewith the ownership of the transferred goods is of fundamental importance to global trade. We are proud to have been awarded the trust of such respectable institutions, members of the IG P&I. We are looking forward to the future!” said Stefan Kukman, founder and CEO of CargoX. Cautious steps of digitalizationThe approval is a historic milestone for CargoX, and for the public blockchain community at large. Until February 2010, the rules of all the group’s clubs specifically excluded liabilities in respect of the shipping of cargo under all electronic (paperless) trading systems; on 20 February 2010 that all changed for the much better. Ten years later, in February 2020 the group approved CargoX, additionally to the electronic systems administered by ESS, Bolero, e-title™, GlobalShare, and Wave.Of these electronic systems providers, only CargoX has built its Blockchain Document Transfer (BDT) Platform atop a neutral, public blockchain network, namely the Ethereum network, and uses the network’s advanced cryptographic features for original document creation, document ownership transfer, audit trail provisions, privacy, business confidentiality assurance, and document and transaction immutability. Carriers, shippers, consignees, endorses, banks, freight forwarders, and other parties can issue, exchange and sign a variety of supply chain encrypted documents with no need for a central server or registry. The system is supported by a legal framework known as the Special Terms and Conditions (ST&C) that facilitates the transfer and endorsement of electronic bills of lading. While the system removes the need for a paper bill, there is scope to revert to paper where it is necessary to do so. The solution incorporates and upgrades the usability concepts similar to email and banking transactions, effectively providing services that are superior to traditional paper document transfer. The operation of IG clubsThe IG P&I formed in 1899 when the so-called London Group was formed, composed of 6 British P&I mutual marine insurance associations whose job it was to insure British ships navigating the world. Today, there are 13 member associations, providing liability cover for approximately 90% of the world's ocean-going tonnage. Of the world’s top 25 reinsurers, 22 were featured in the group’s 2019 program.Each IG Club is an independent, non-profit making mutual insurance association, providing P&I insurance cover for its shipowner and charterer members against third party liabilities relating to the use and operation of ships. Each Club is controlled by its members through a board of directors, or a committee elected from among the membership. IG P&I Clubs cover a wide range of liabilities, including loss of life and personal injury to crew, passengers, and others on board, cargo loss and damage, pollution by oil and other hazardous substances, wreck removal, collision, and damage to property. Clubs also provide a wide range of services to their members regarding claims handling, legal issues, and loss prevention, and often play a leading role in coordinating the response to, and management of, maritime casualties. The IG P&I has already notified its members of its approval of CargoX. All partaking clubsA full list of principal clubs, affiliated associations, and reinsured subsidiary:
* About the IG P&I * Full list of IG P&I member clubs * IG P&I annual review 2019 * IG P&I LinkedIn page See how it works https://cargox.io #blockchain #logistics #ethereum |
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Blockchain Blocks Transactions. Accounts; Statistics Charts Correlations Miner. Tools Unit converter Gas Price Oracle. The Ethereum Block Chain Explorer Explore the Ethereum chain, check your balance, look up transactions or view some charts! Price ${ page.currentStats.price_usd } USD / ${ page.currentStats.price_btc } BTC. WHAT IS ETHEREUM & HOW IT WORKS Ethereum is an open-source, decentralized network that allows smart contracts to be deployed on a blockchain with the use of ether. It’s a blockchain app (Dapp) platform that uses gas to run – in short. The network was created by Vitalik Buterin in 2015 although the white paper […] Ethereum is a global, decentralized platform for money and new kinds of applications. On Ethereum, you can write code that controls money, and build applications accessible anywhere in the world. Blockchain.com is the most popular place to securely buy, store, and trade Bitcoin, Ethereum, and other top cryptocurrencies. Ethereum is a public blockchain network, so it is transparent and secure at the same time. Ethereum is much focused on operating the programming code for any decentralized application, and this is the reason why it is gaining so much popularity. As long as the Ethereum network is in operation, Ether as a currency will always be needed.
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Let's build a decentralized ticket service using Ethereum! Ethereum is the 2nd biggest cryptocurrency in market cap behind Bitcoin and offers a Turing-comple... This video is part of the "Become a Blockchain Developer with Ethereum and Solidity" online course on Udemy. If you want to learn more about how to use those... Ethereum is a Proof-of-Work blockchain that allows users to build their own decentralised applications. iIt is a smart contract platform that supports a generalised scripting language. Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Ethereum was proposed in 2013 and brought to life in 2014 by Vitalik Buterin. Unlike the... Joseph Lubin is a founder at Consensus Systems (ConsenSys) and Ethereum, where he is preparing the next generation economy with decentralized applications. D...