We had the pleasure of interviewing Bogomil Alexandrov, one of founders of CargoCoin. CargoCoin links the physical world of trade, transport & logistics with the blockchain, by replacing paper documents with smart contracts and providing secure escrow payments throughout the process. Learn how CargoCoin plans to bring innovate the logistics industry with blockchain technology. Listen now!
Before we begin, this is a paid sponsored Podcast where we interview cutting-edge blockchain companies that we think will be the most interesting to our listeners. We are not recommending that you invest any of these ICOs. This is not financial, investment, or trading advice. Be sure to consult with a financial adviser before investing in the cryptocurrency space.
Jason: Today we are talking with Bogomil Alexandrov, one of the founders of CargoCoin. Thanks for joining us today Bogomil.
Bogomil: Hi, how are you doing?
Jason: I’m doing great. Thanks for jumping on and explaining this interesting project you guys have going on.
Bogomil: Yeah, thanks for the interview and thanks for the invite. We hope that the podcast listeners will also find it interesting.
Jason: Yeah definitely. Tell us a little bit about yourself, your experience and really what led you up to working on the CargoCoin project.
Bogomil: Well I myself am a developer. I’ve been programming all my life. I am 39 years old now so I started around maybe ’92, ’93 when I started programming. I found my first company in ’97. At that time, it was a software development company which later on expanded to web development. I’ve been working in the web development scene since the late ’90s, so one of the kind of the earlier adopters of web development and web programming.
Otherwise I finished my degrees in international trade and finance so combining the development with my university degree actually brought me to the project, to CargoCoin, which is a business-to-business platform for international trade and logistics. We are trying to solve a number of programs which we are going to talk about later, but to put it very shortly we’re developing a blockchain solution for the transport industry, for the logistics industry and for the global trades that will solve a number of problems that still exist today that will result in huge savings for the industry and for all the people because all the costs are transferred to the consumers in the end.
Jason: Sure. Can you go into a little bit more detail about what CargoCoin is and what kind of problems you guys are trying to solve with this new technology?
Bogomil: Yeah sure. Like I said it’s a number of problems. The foremost problem is the delays in the industry and the delays are caused by a number of things. One of the biggest problems is the paper documents that are still being used today in the transporting and the shipping industry. Basically this is an industry that, especially the shipping industry, hasn’t been reformed in the last few hundred years and the business is still being done the way it’s been done a few hundred years ago which is not really competitive these days. There are problems that are caused by the paper documents because the title of ownership it needs to be on paper right now and it needs to be physically transferred from the seller to the buyer and that needs to be done separate to the cargo, so that’s like a few days’ delay there.
There are other delays caused by customs clearance which could be another few days. Payment delays are a big problem especially these days because all the corresponding banks they are located in the states and they do a lot of anti-laundry checks, anti-terrorist checks and all that and these are causing a few days of delays at least for each shipment and when you add them up – we’ve done a survey which shows that about 20% – 30% of the lifespan of each ship is being spent idling, just waiting for something to happen and one ship can cost easily tens, hundreds of millions of dollars.
Imagine the huge opportunity cost per ship here that a third of its lifespan is just it’s not doing anything it’s just idling somewhere. Of course, we cannot like just solve the delays to zero but we estimated that we can decrease the delays by about 50% by introducing the blockchain technology to the whole process and by using smart contracts to replace the paper documents we can save a lot of time for all parties involved because there are lots of parties involved in a shipment of cargo and at the same time we can replace the bank payment transfers with crypto payments which happen almost instantaneously compared to bank transfers which take a minimum of three, five, ten days depending on the case. With crypto payments we’ve got like minutes to clear a payment.
The next thing that we are trying to solve is the lack of trust cause when you have parties who transact business into the millions per transaction you need trust and the only way people have trust at the moment is if they work together or if they get referred by somebody but this could also be time-consuming to find the right partner to work with that you can trust or another friend or partner or just a referral, and here the blockchain is a very good fit cause it’s naturally built to have trust. The platform will enable the payments to go to escrow so the platform will guarantee the payment to each party involved in the whole process and naturally this way they establish trust between each other because the platform is an escrow service to them.
The next thing which is, of course, a big issue as well are the costs. With our solution we will be lowering the costs significantly because right now parties have to pay for issuing paper documents, sending them by courier, paying for letter of credits which sometimes can be very expensive especially if you don’t have a deposit with the bank or if you don’t have a long-term established partnership with the bank. For example, if you are like a new company and want to ship something it’s very expensive and very hard to do it so here with the blockchain and the natural trust embodied in it we can lower the costs especially to companies that are just starting up and of course to other businesses as well cause we will be charging a much lower commission compared to banks and other companies which are traditional businesses.
The next problem is the information security and the fraud. There is a statistic conducted by the global economic crime, it’s a survey conducted Global Economic Crime Survey in 2004 and the fraud in the transport and logistic sector is up at 34% in 2014 and steadily increasing each year. We have a very high fraud rate and that fraud rate is, of course it depends on a lot of factors, but the main factor here is again the paper documents. With today’s technology, it’s very easy and it’s not very sophisticated to fraud a paper document so the smart contracts with their irreversibility are a perfect fit to security information to reduce the fraud and to again decrease the costs this way.
Of course, currently another problem that companies are facing in regards to information security is so-called business intelligence so right now with the paper documents we have documents that are going from a bank to many people in the process and all of them have access to documents and they can look up information which they are not supposed to have, and of course that information could go to competitors or to other parties that are not part of the whole transaction which is not very secure and it’s not very good for the businesses to reveal such information. With our platform, we will be able to reveal the right information to the right parties so what they only need to know not the whole information will be available to them.
Of course, another issue which is not so significant but it’s also important in the long run that’s the safe archiving of documents. Right now with the paper documents we have this program with the archiving where you need to store the paper documents for reference in the future, but sometimes they get lost or they got like damaged in floods, fires, or just put in the wrong place and cannot be found later on so with our platform that will be very easily accessible to access past information which is very good for companies to be able to do their statistics and future projections for their business.
These are the main problems that we are solving not mentioning things like of course the easiness of use of the platform, the real-time searching and matching of the various parties that are involved in the whole process. I take those things as something natural that doesn’t need to be really explained.
Jason: Sure. It seems like you’re really tackling like every issue along the way and making things a lot easier for everyone involved and not to mention safer which is really interesting especially since, like you said, the industry hasn’t really changed in a long time.
Bogomil: Yeah, that’s true. It really needs to go into the 21st century now and we’ve tried to look at the industry from each angle and try to address the various problems that’s why we have such a big team of people and that’s why we have transportation specialists from different transport types like the shipping industry, the inland transportation, air cargo so we can address the problems that they’ve been having like forever that can be fixed right now.
Jason: Sure. You just mentioned that you have a couple of people on the team with experience with these logistics businesses. Can you go into a little bit of detail about the team and what makes them qualified for that side of the business as well as just like the technical things and working with the blockchain?
Bogomil: Yeah sure. Our team is basically composed of three types of people. The first type of people is the transportation specialists. The other founder, Martin, he’s been in the industry for close to 20 years now. He has a shipping agency and he’s a ship owner himself so he has a lot of experience in that field and his family has also been in this business for a very long time.
We have other transportation specialists like Christina Sarastova. She has been working with very large companies and she also graduated shipping and finance from City University London.
We have Georgy Zhelyazkov, who is an inland transportation specialist and he is a local assistant to the European Parliament.
In regards to transportation, we have ICO advisors who are also involved with transportation, this is Cpt. Savio Gomez, who is originally from Portugal but he lives in Japan. He is a ship inspector himself, certified, and he has a lot of experience in the shipping industry as well.
We have Cpt. Ilkay Topcu, who lives in London and he has a shipping agency called Mini Project Shipping there. He has been working for a long time in the same industry as well.
We also have other transportation specialists which are not included on the team, but we’re asking them for advice and for suggestions as well.
The second part of the team is the development team for the platform and the lead developer of the platform myself.
We have Iva Kitova, who is a graphic designer and takes care of all the graphics.
We have Mihaila Lukanova, who is the front-end developer.
We have Piyush Gupta, who is from India and he is working on the smart contracts and the development as well.
We have Rajesh Kumar, who is working on the development team as well. He has a lot of experience in blockchain projects as well.
We have Kaushik Ghosh, who is also a blockchain developer and working on the back end of the platform too.
The rest of the team are we can say administration staff like office managers, accountants, legal advisor, financial advisor and so on. On the advisor side we also have a very strong presence there.
We have Simon Cocking, who is a very famous blockchain influencer.
We have Jonathan Chang, who is the owner of an exchange in Australia. The exchange is called Nauticus so he is helping us with exchange integration.
We have Lin Hsiang Liao, who is from Hong Kong and he is working for China Merchants Group which is one of the largest Chinese holding structures that has a lot to do with shipping as well as other businesses but they own ports and ship-building companies as well.
We have Professor Dr. Clemens Becther, who is German but he is teaching at the Asian Institute of Technology Thailand so he is helping us with technical advice.
We have other people on the advisory team who are helping us with other minor things as well.
We have, of course, the usual type of team members who we haven’t listed on the website like community team members, people involved with bounty and various aspects of the token sale but they don’t have such a big impact on the actual platform so we didn’t really list all the people that are involved in the whole project which will be probably around 30 people.
Jason: It’s a really big team. I mean just looking through the experience on the website there are a lot of people here and like you said not to mention some of the people that you have working on these other projects that aren’t on the website. It’s a pretty experienced team from what I can see.
Bogomil: That’s true yeah.
Jason: Who is the target market for this? Who is using your platform?
Bogomil: Like I said in the beginning we are a purely business-to-business platform so naturally we are targeted to businesses that are in the transport and logistic industry. The size of the actual market that we are targeting depending on how good or how bad the year is it varies between 15 and 20 trillion dollars per year. This is just purely the export markets, and here we are not even counting the market of interstate transport. For example, European Union is pretty big but the transportation in the European Union or in the states is not counted as exports so it doesn’t count towards this market. Probably if we take up the whole market the figure probably would amount to maybe 30 to 40 trillion dollars per year really. It’s a very big market probably the largest market in the world just international trade.
Jason: Just to try to clear things up real quick, you guys are just business to business, port to port. You’re not shipping directly to consumers or that last mile, correct?
Bogomil: Yeah, that’s correct.
Jason: Great. What geographic areas are you guys focusing on right now?
Bogomil: Well right now because most of our connections in the transport industry are in Europe and Asia, we are starting with Europe of course because we’re based out of the UK and we are going to start with the European market and almost immediately we are starting with the Asian market too because we have very good connections there. We also signed an agreement with a very big shipping network of agencies in Asia, it’s called United Global Shipping Agency, that has members in I’m not sure if it was 30-something countries in Asia. I can’t recall the exact number but it was all the 30 countries, and they have representative agencies in all the major countries. They cover the full gulf area. They have their own office in China. Now they are opening an office in Korea, and soon they’ll be opening an office in Europe too. We have an exclusivity agreement with them that they’ll be using our platform and basically that connection will allow us to very quickly and easily penetrate the Asian market.
We also have a very good relation with a Canadian company that has an existing trucking platform in Canada so we will be integrating with them right after that and will be targeting the North American market as well. That will be our next target.
Jason: Wow that’s great. That’s a lot of areas just to start off. Those partnerships seem like they’re really coming in handy. Tell us a little bit about the progress that you guys have made in building the platform so far.
Bogomil: Well right now we are close to launching the first version of the platform. Basically the front end is fully ready and we are working on the back end at the moment and we are hoping that we’ll be able to launch it by the end of the month for beta testing and actual live usage.
Jason: Great. Always good to see an ICO that has a product ready to go pretty much right away so that’s really awesome. I know there are already some platforms like this that already exist that are non-cryptocurrency related and then there are some that are recently coming out with their own ICO. What are you guys doing different, and what are you doing to improve upon what already exists?
Bogomil: We are actually taking a different approach than the other platforms that exist or are being built. Currently there are a number of platforms that exist in transportation and very few for the shipping industry and like I said the shipping industry is actually the largest one. It’s about I think statistically about 90% of the cargo is being transported by sea. What we are doing instead of trying to take it each industry by industry and just focus our project on a single type of transportation, we are starting from the very beginning to build a platform. Yes, it will be in the beginning separate for each of the different types of transport but we are building it in such a way that we want to integrate the different types of transports into a single platform and this is something that has never been done before either using blockchain or not using blockchain. Up until now everybody is just looking at their industry and trying to solve the problem or build a platform for their industry. Nobody has tried to solve this type of problem because as you can imagine for each cargo you have always at least two types of transport involved at least like shipping and trucking. What we want to do is we want to close the full cycle from the picking up from the warehouse of the manufacturer all the way to the warehouse of the distributor and that would include warehousing, customs clearance, obviously the transportation itself, tracking of the cargo and all the services like port services, various other services, many services all that we want to include it into the single platform that will be able to allow people to do the whole transaction process from start to end including the payment itself.
Jason: That’s great. You’re again just including every aspect of the business all in one for people which I think is awesome. What kind of fees are going to be associated with your platform?
Bogomil: That’s another new thing that we are going to introduce. Up until now all the shipping platforms they have been charging monthly fees to their users or companies that use them. What we are going to do to increase traction and to allow easy adoption of the platform is we are going to use the freemium type of model where the platform will be completely free to register and use that will allow us to bring a lot of companies onboard. Then we are going to charge transaction fees actually just for each shipment itself so companies will not be have to invest any money upfront or do any monthly payments without actually really using the platform or not doing any transactions so we will be charging just for the transactions that actually occur on the platform which we think is a fair model because you pay for what you use. You don’t pay monthly fees like people like to do; it’s a very nice model but it’s not very fair.
Jason: What kind of fees would that be? Is that like just a percentage-based fee?
Bogomil: Yeah, it will be a percentage. There will be not a set percentage because it will depend on different factors of course, the types of services that they will be using and it will depend also the insurance. There are a lot of factors so there is not a fixed percentage, but it will be something around 0.5% for example on average.
Jason: Even with that fee I would imagine because of all the other benefits attached to your platform they’re going to be spending a lot less money regardless because you are kind of speeding up the entire process.
Bogomil: Yeah best-case scenario at the moment just a letter of credit can cost as little as 0.5% all the way up to 5% just a letter of credit that doesn’t involve all the other costs in the process. Just the bank fee just a letter of credit and that’s excluding the fixed fee just a percentage fee the minimum is 0.5%.
Jason: Yeah wow. You guys are really just cutting out a lot of costs that aren’t really necessary I guess if you’re using the right technology.
Bogomil: Yeah, yeah that’s true and like I said at the very beginning all this is being paid by the consumer so in the end what we are hoping to achieve is lower prices of everything that is globally traded.
Jason: The little guys are going to benefit as well.
Bogomil: Yeah actually they will be the biggest beneficiaries of the whole platform even though they will not be using it.
Jason: Sure. All right you touched briefly on some of the partnerships that you guys currently have. Can you go into a little bit more detail about some of those partnerships?
Bogomil: Yeah sure. We have very different actually partnerships in a few fields. The first one like I said is the partnership with the companies that are involved with the transport business. I already talked about the United Global Shipping Agency and a Canadian platform I talked about.
We also have partnership with SKYFchain which is an ICO that finished last month. They are developing cargo drones and here I’m talking about big drones the size of a car that can carry up to 400 kg of useful payload so we already signed a partnership with them. We will be using them for our air cargo so people can use cargo drones to actually deliver smaller cargo around the world.
We also have partnership with Deliver which is a last-mile solution in the transport industry as well.
We have signed partnership agreements with various other shipping agencies that want to beta-test the platform and use it from Japan, from Korea, from the UK, from Europe, 30 all around the world.
The other partners that we have are the exchange partners. We have just signed I think a partnership with the 10th exchange now so we have quite a lot of agreements. The biggest crypto exchange that we signed partnership with is OEX.com. Their daily trading volume varies between 130 to 150 million dollars each day so they are pretty big and they are very ambitious to become one of the top ten exchanges in the world by the end of the year.
We also have an exchange listing agreement with Bancor which is a very famous exchange. It was the most successful ICO of 2017 actually. They raised over 200 million dollars.
We have an exchange listing agreement with Nauticus which is an exchange from Australia and it’s a licensed exchange so they are licensed to trade crypto and fiat vice versa so that will be very handy for exchanging fiat for crypto and crypto for fiat.
We have signed agreements with seven other exchanges which are smaller. Some of them are decentralized most of them are centralized.
We also are supported by MyEtherWallet which is the biggest Ethereum wallet in the world and almost everybody is using that so we are officially partnering with them too. We have agreements with other wallet companies too.
Of course, we have a lot of media partnerships with a lot of websites and recently we signed a very big partnership agreement with a TV series from the states. It’s a TV show called New To The Street and Exploring The Block so they are two shows in one. They are actually being carried on Fox Business Network and on Bloomberg TV and the other founder, Martin, just came back a few days ago from New York where he filmed the first episode about CargoCoin and we signed an agreement for 12 episodes with them over 1 year. The first episode is going to get aired I think in about three weeks’ time towards the end of October and then we will be running out the other episodes each month so that’s a very big media deal as their audience is about I think 300 million people most of them in the states but they have pretty global coverage so smaller TV stations as well but Fox Business Network and Bloomberg are quite big enough alone.
Jason: Yeah that’s fantastic. I think I read something or saw something about how you’re going to be working with an exchange to kind of combat the volatility associated with crypto and making those crypto payments on your platform. Can you go into more detail about that?
Bogomil: Yeah, we have that in our white paper. We will be using a hedging option that’s why we need close integration with crypto exchanges to use their APIs. What we are essentially going to do we are going to in the beginning of the transaction when people put their money in for the escrow payment we are going to exchange them to a stable token or a stable coin for example USDT so their funds will be staying with a stable coin until the end of the transaction when they get transferred back to CargoCoins and being paid out. This is an option that they can use, it’s not going to be mandatory, but if they want to use it as a safehouse against volatility program they can use that and be sure that fluctuations in the crypto prices are not going to affect them.
Jason: Right. I think that’s super important because that’s something, the volatility is what scares a lot of people kind of coming into this space so having that option is huge.
Bogomil: Yeah actually our expectations are that the need for CargoCoins will be just growing in the future because like I said the market is really big and our token supply is very limited. It’s limited to 100 hundred million tokens so with each deal that happens with the platform we actually expect the price of the tokens to go up with each deal so probably I mean that’s a good wish and we hope that is going to happen. People do not really need to do the hedging option because in the end they will actually have more money due to the raise of the prices that will constantly be occurring. Because we are not that kind of token that is a speculative type of token where people are just playing around and making quick money and things like that I mean we are purely a business token that due to its limited supply its price is naturally going to go up.
Jason: A true utility token here.
Bogomil: Yeah it’s a 100% utility token.
Jason: Great. You guys decided to build your platform on the Ethereum blockchain. Why did you choose Ethereum?
Bogomil: We chose Ethereum because it’s widespread and the infrastructure is there already, the trust has been established so we don’t need to work on that and prove anything. It’s already been done for us. The solidity is a very good choice for developing smart contracts. I’m not going to hide that in the future we want to do our own blockchain to speed up the transaction process because Ethereum is the biggest problem with Ethereum is the low number of transactions that you can do. We are projecting that in the beginning we will continue to use Ethereum, and in the future we are going to switch to our own private blockchain that’s going to be, of course, much faster and allows much more flexibility in the process.
Jason: When can we expect your new blockchain? Is that coming up any time soon?
Bogomil: It’s definitely not going to be in the next one or two years. We want to gather as much data and as much experience using Ethereum so when we are building our own blockchain we can use and learn from the mistakes that Ethereum allows us to make actually. We want to gain more experience like real-world experience from doing actual transactions into the blockchain, our own blockchain so we can avoid them in the future. We want to really build up more knowledge first in that regard.
Jason: Okay great. What are you guys doing to make sure that the smart contract and the code that you guys are implementing is all safe for the user?
Bogomil: Of course, we have well-skilled developers for ensuring that but we also have people who beta test the code and everything is being beta tested by a lot of people. We have actually one of the biggest bounty programs of all ICOs that have been done up until now. We are getting close to 4100 bounty hunters and quite some of them are cyber security specialists so they are also ensuring that the code is safe. They test for breaches. They test for any problems that could occur, and before we officially launch the platform we also have an agreement with a security company that is going to audit the platform and do testing and everything necessary to ensure that it runs very smoothly and securely.
Jason: That’s really great because you hear about some of these other crypto projects where they don’t test the code properly and they end up losing a lot of their users, millions of dollars, so it’s good to kind of have that audit in place and make sure that the code is safe.
Bogomil: There isn’t such software that cannot be hacked. Any software written by a human can be, of course, breached but everybody should try to minimize any potential problems and try to avoid any security problems, of course, and that comes with the experience obviously.
Jason: Right. What kind of advances can we expect in say like the next year from CargoCoin?
Bogomil: Well actually the first year, the next year will be the most important for us because we will launch the shipping platform and of course we will be advancing that. We will be introducing the smart contracts later next year and that will be a super important year for the actual starting of the transactions of the platform, of the usage of the platform. We will be going around the world exhibiting the platform at various international trade exhibitions and expos so that will be probably the most important time for the project the next year.
Jason: I guess by the end of 2019 you guys will have a fully functioning product.
Bogomil: Yeah actually we project that will be happening by the middle of 2019 because we want to launch the platform like I said in a month’s time. Then we want to slowly introduce the contracts and beta test them and everything so we can launch the smart contracts officially next year, in the beginning of next year and hopefully by the middle of next year we will be having a fully functional shipping platform.
Jason: I guess that’s when these partnerships are going to start using the platform or will they be able to before the smart contracts are finished?
Bogomil: We will start integrating before that because part of our agreements is that we are going to exchange data between the platforms so in the beginning we will start with data exchange and later on, of course, we will start fully integrating our smart contracts with their smart contracts and then those partnerships will be fully utilized.
Jason: Gotcha. Moving on to the token sale how much are you guys raising? Where are you guys at? What’s the soft cap, hard cap and then where’s this money going?
Bogomil: The amount that we are raising the total amount is 55 million dollars. The soft cap is 5 million dollars and we’ve already reached it. The hard cap is 55 like I said total. We are hoping to reach that by the end of the year when the token sale will end. We also have up to 20% bonus depending on the amount you invest in the project and out of the total 100 million tokens that we have issued 65% are going for public sale. The rest will be distributed between the team which will get 15% for the team and advisors. We have allocated 10% for the bounty and airdrop and we have allocated 10% as a future reserve and liquidity support for the token and out of all the money that we are going to collect the most money 50% will go into marketing and sales. The reason that we need so much money for marketing is that like I said transportation industry is very outdated so that requires us to invest a lot of money in publishing articles, in going to exhibitions around the world doing presentations there teaching basically people that we exist that we can help them and that we can save them money, teaching them how to use the platform, teaching them the benefits of using the platform and that requires a lot of funding to go around the world and teach people about this new technology. About 30% of the funding will go into research and development which is normal I think, 10% will go into administrative costs. We have put 7% for exchange listings. As you know, getting on an exchange can be quite costly so we’ve allocated 7% for paying those exchange listing fees and we’ve allocated 3% for various legal fees and legal advisors.
Jason: What kind of restrictions are there on who can participate in the ICO?
Bogomil: We don’t really have any let’s say restrictions. I mean there are certain warnings about US investors because of the Security and Exchange Commission in the states but since we’ve done the howie test which says we are 100% utility token they really have nothing to worry about. We are also getting maybe in a week’s time another legal opinion from a New York legal firm that is going to confirm that as well so we want to double ensure that our US investors are feeling on the safe side so we are trying to ensure that of course. Since we are a utility token people should have no restrictions to participate in the ICO. Like I said we are a UK company and there are no imposed restrictions in the UK. If there are restrictions in a certain country, of course, people have to comply with that but we are not restricting them on our side.
Jason: Gotcha. Are you guys implementing KYC and AML when people are trying to invest in the CargoCoin.
Bogomil: Actually yeah. We have KYC. We took KYC more to be on the safe side if there is like an investigation of that investor going on so we can provide information to the authorities but the KYC is not very strict. We don’t do a very strict KYC like most projects do because it could be very annoying doing very extensive KYC. We collect the data, we store it and in case something happens of course we will cooperate with the authorities but we are not really pushing people into sending scanned copies of documents or things like that. We just ask them for their document ID. We record IP address that order was made from. We ask them for their personal information like name, email address, address and so on.
Jason: You already have some exchange partners. When do you expect to get the CargoCoin on exchanges?
Bogomil: Like I said, we have 10 exchange listing agreements already. We will be going to be on an exchange soon after the ICO is over. Obviously we cannot list it before then but very shortly after the ICO ends we will be on exchanges and like I said some of them are pretty big so that will happen after the 31st of December.
Jason: Nice. I know that’s something that is really important to a lot of investors so it’s really nice that you guys already have these exchanges already lined up. A couple fun questions here. What are you most excited for in the crypto space right now?
Bogomil: There are a lot of things. It’s a whole different world. It very much reminds me of the dot-com boom in the late ‘90s beginning of 2000. I met a lot of people while doing this project and what I like about those people is that people are very passionate, people are very – I mean maybe a little bit idealistic and generally speaking they are very nice people. All the people that I met, some of them I met in person, most of them I met online and some of them we became friends. It’s a very different world. It’s a world of mostly nice people that are very easygoing, very easy to communicate with and it’s really a lot of fun and giving me a lot of energy to communicate with those people and their feedback has always been very good about our project so that keeps us going and makes us feel really energetic and really keen to continue on working because every project has its downsides and bad times and when you feel less motivated and when those times come you always have somebody saying it’s a great project, very nice, I like it, I love it, let me help you with that and you feel again a flow of energy and you just keep on going and that gives you a lot of strength.
Jason: Yeah definitely a lot of passion in crypto. People have really strong beliefs in it and I would imagine so do you.
Bogomil: Yeah of course, of course.
Jason: Where do you see cryptocurrency getting to in the next five years?
Bogomil: I think it’s going to develop. What we are seeing right now is really the infancy of cryptocurrency. These are the first steps towards testing the technology, its adoption. Because I started very early with the internet, I started in ’95, ’96 and I remember at that time people were like when you told them about the internet they were looking at you like you were some sort of an alien or something. It sounds like very obscure and very far away, far out there but 10 years later everybody is using the internet. Everybody has it on their mobile and another 10 years it’s like unimaginable if internet didn’t exist. I think the next five years will be very important and in the next five years we will see the technologies to get more mature and maybe in 10 – 15 years’ time everybody will be just using it. It will be on everybody’s devices and everybody will be just taking it for granted.
Jason: Sure just like the internet.
Bogomil: Yeah we can say this is like the next evolution step for the internet itself.
Jason: Yeah and I think with the markets where they are now people kind of lose sight of that and you want to focus on what is being done and what’s not being done with certain products. What are you seeing?
Bogomil: Actually a lot has happened since the price went from 20,000 to 6,000. A lot of nice and very good projects have come on the market and looking at just the price perspective of it yeah maybe not much has happened but looking on the technology side a lot has been happening and we will see the result of those new projects and things that happened already in the last year. We will be seeing them in the next year.
Jason: Yeah exactly. The technology is always moving forward which gives me a lot of confidence in the space. Where can people learn more about your project and kind of interact with the CargoCoin community?
Bogomil: Obviously they can go to our website which is the CargoCoin.com or they can just type CargoCoin in Google which will find it very easily. We have a big telegram community which is active and we have our Facebook page is very active too. Our Twitter profile is very active. We have a very big thread on Bitcointalk, and all those community links are on our website. They can be easy to find them on the website. We have our contact form. They can contact us directly if they have any questions or if they’re looking for any partnerships. We are also open to new partnerships and meeting new people and discussing whatever that is relevant to the project. They can just go to CargoCoin.com and learn more about the project with the white paper we have it available in over 20 languages. There’s really a lot of information on the website, and we have a lot of articles published if they google search it. There’s really a lot that has been going on.
Jason: Yeah lots of information on the website. Anything else that you want to mention about the project any last thoughts?
Bogomil: I want to thank ICO Spotters for the opportunity to talk about CargoCoin and I want to thank you Jason about presenting CargoCoin and about the fact that you believe in the project too. Like I said before that gives us a lot of strength and a lot of energy and enthusiasm to keep going and I want to wish you success with ICO Spotters and I want to tell everybody to believe in blockchain cause this is going to be the future of money and the future of finance and I think the good times are yet to come.
Jason: Great thanks again for coming on the podcast today. It’s been a real pleasure and we wish you guys the best of luck!
Bogomil: Thanks a lot Jason.
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