Online shipping platform 45HC.COM has become the first shipping company to accept cryptocurrency payments for container shipping.
As part of its mission to offer the widest range of options to its users, 45HC.COM now accepts CXO tokens as payment for its cargo shipping services.
CXO is the utility token issued by logistics blockchain technology provider CargoX. The token can be used to pay for services on the CargoX platform, such as smart contract based Smart Bill of Lading (Smart B/L) and Smart Letter of Credit (Smart L/C) which is next in the pipeline.
CargoX intends to expand the number of partner companies, where customers will be able to pay with the CXO tokens. The numerous benefits of paying with the CXO tokens will help it become the de-facto crypto payment for logistics-related services in the CargoX ecosystem and the whole industry.
This latest development is an important milestone for CargoX, meeting an objective that it set out in the ICO. As described in the roadmap, CargoX’s CXO token was to be added to the 45HC.COM online shipping platform as a payment method by the end of the Q1 2018.
“The use of CXO tokens for payment is simple. It is especially attractive for shippers and freight forwarders who use the service regularly. – Once they have set up their wallet and purchased CXO tokens, the operation is swift and easy,” said Stefan Kukman, CEO and founder of CargoX and 45HC.
Kukman added, “45HC is the first company in the CargoX ecosystem that integrated CXO tokens as a payment mechanism for its own shipping service. We expect that other CargoX ecosystem partners will soon realise that they can gain new customers from a growing pool of almost 5,000 people who own CXO tokens. We are confident that holders of CXO tokens are interested in advanced logistics services, as they have once already acted on their understanding that logistics is the perfect application of blockchain.”
“The decision by 45HC to accept the cryptocurrency was a natural development, and made perfect sense for a company that has always been an innovation leader. CargoX’s team executed the integration, and the process was smooth and fast. This is a great way to showcase how simple the integration of CXO into a website’s payment system can be. CargoX is committed to supporting other logistics companies that want to accept CXO tokens as a payment mechanism for their logistics services,” said Janez Kranjc, CTO of CargoX.
When customers use the 45HC.COM website to book their container transport, they can pay with a variety of standard payment options. As of 21 March, they now have the option of paying with CXO tokens issued by CargoX.
During the check-out process, 45HC.COM’s Ethereum wallet address is presented to the user, and once the transfer of CXO tokens is confirmed, the payment is completed.
As an added layer of security, the use of a unique payment address for each transaction prohibits third parties from inspecting payments received by 45HC.COM, which protects the privacy of 45HC’s customers.
45HC.COM is offering a 10% promotional discount for customers who pay with CXO tokens. All 45HC’s services are still invoiced in fiat currency (EUR) and the price in CXO tokens is calculated at checkout, based on the average price of CXO in the last 24 hours as recorded by coinmarketcap.com.
By choosing to pay with CXO tokens, customers can finalize both domestic and international transactions in about 20 seconds, with much lower transaction costs than banks and other intermediaries charge (few cents instead of tens of dollars), while also bypassing the daily/monthly limits of credit cards.
All blockchain transactions are secure. To date, hackers have been unable to tamper with more than $350 billion worth of existing blockchain assets.