14. September 2021

Interview with Igor Jakomin

Ph.D Igor Jakomin is currently Deputy CEO at CargoX, a revolutionary blockchain-based solution provider for the logistics industry. Igor has been there since early 2018, when the company was founded and embarked on its laser-focused course to revolutionize the creation and processing of the Bill of Lading. CargoX created the first Blockchain B/L in history and developed the CargoX Platform for Blockchain Document Transfer (BDT), which brought numerous awards and accolades.
He has more than 20 years of professional experience. He was United Parcel Service Country (SI) and Regional Manager (SI, HR and BA), Managing Director of various subsidiaries of Samer Group, Supervisory Board member of the Port of Koper and BTC Terminal, advisor of many established companies in Slovenia and abroad. He brings his experience as a lecturer and assistant professor at various universities and academies. For 3 years he worked as a State Secretary (Deputy Minister) in the Ministry of Transport of the Republic of Slovenia. He also holds a Ph.D in logistics.

1. It is no secret that logistics companies struggle with tons of paper documents. Could you please tell us a little more about the innovative solution from CargoX and how it can ease up the whole process of document handling and transfer?
A lot of the logistics processes require documents of title and other original documents to be transferred through courier services – this is especially true when ocean transport, but also other forms of transport are in play. Besides logistics, this also goes for manufacturing, trade, finance, energy, and services, as well as governmental and regulatory agency segments.
The CargoX Platform for Blockchain Document Transfer (BDT) facilitates the transfer of documents in a digitally and instantly, and in such a way that the document ownership is also transferred, like in a digital money transaction, or any other blockchain transaction. The customers can choose among more than 60 document types – all types of bills of lading, letters of credit, waybills, certificates of origin, and other certificates. The blockchain ledger is immutable – nobody can change the transactions or steal the documents, and there is a blockchain audit trail for all events.
Besides being ultra-fast, the platform is also much cheaper to use than courier services. Shippers, operators, freight forwarders, and exporters can save up to 85% of their initial cost. And they also gain a unified document repository for all their key business documents. The platform is hacker-proof, as extremely secure encryption technology is used to ensure document and user security.

2. Digital transformation of the freight forwarding industry requires action from all subjects along the supply chain. How we can capitalise on blockchain opportunities and do you think that blockchain has an inevitable role to play in the Global Trade?
We are certain that blockchain has already proven its great value for the new era of digital business, especially in global, tightly interconnected and coordination-heavy industries that sometimes span multiple countries and continents.
In the global industrial world, it was proven that adoption of global B2B information technology solutions is sometimes difficult because of different cultural and professional standards. But our experience at CargoX is that when the need arises and value is proven to governments and governmental agencies, they can take measures to help drive adoption rates to make business easier for all involved parties.
This approach is also supported by global associations, such as WEF, UNCITRAL, ICC, and trade associations such as FIATA, IATA, IRU, and a diverse set of regional institutions.
We are proud to be working with major international organizations.

3. With all the cyber security risks, how does CargoX ensure the security of the document transfer?
The documents themselves are highly encrypted and only the owner of the documents can manipulate them and transfer the ownership thereof to the recipient. All transactions are secured by the most reliable global blockchain Ethereum technology, which is used as a neutral, public security layer for transferring data and documents. The Ethereum technology was developed by the largest blockchain development community on the planet, and it has been thoroughly tested – it secures billions of dollars worth of transactions of digital assets on a daily basis.
All the users of the CargoX Platforms can use the highest security blockchain keys in hardware cryptographic wallets, or they can decide to use another, more practical solution for accessing the platform, while still securing their access keys with their best disposable methods.

4. Looking into the future, what do you have in store for the rest of 2021 and the years to come?
CargoX has aligned itself to cater to local governments’ needs in various countries. The mandatory requirements for digitalization and calls for the implementation of new technology are most efficient when expressed by a government or a governmental body, as they ensure that the proofs of concepts, security standards, and efficiency improvements are quantifiable, advantageous, and thoroughly proven for all parties – businesses and governmental agencies. Besides security, customs offices – when implementing the new Advance Cargo Information functionality, for example – can prescreen shipments and monitor what goods are flowing into a country, as well as prioritize controls and communicate with suppliers even at the point when the goods are not yet boarded. This improves port efficiency, helps avoid bottlenecks, and enables better utilization of resources, while also providing better process visibility to all participants.

5. What is your opinion about positioning WOF EXPO in Central and Eastern Europe region?
This is a great move, as the region needs improvements in communicating the latest trends, and hearing in person from vendors and also customers about what is coming to every logistics undertaking in the short term.
We find the ideal brilliant, as it will empower the region and companies will use the WOF EXPO to find new opportunities and value in all the supply chains that interact in a wide range of predictable and unpredictable ways. We believe that more information is better, as it improves visibility and also enables more robust decision-making processes.

CargoX is a global company specializing in Blockchain Document Transfer (BDT) solutions. The CargoX Platform helps companies build trust in a trustless environment for the logistics, manufacturing, finance, trading, energy and services industries by enabling companies to securely transfer their most sensitive documents, including documents of title. The CargoX Platform – the world’s fastest growing platform for Blockchain Document Transfer (BDT)- is built on the neutral Ethereum public blockchain. The Platform has received numerous awards and accolades and is one of seven in the world approved by the International Group of Protection and Indemnity Clubs (IGP&I).