Blockchain document transfer provider CargoX extends agreement with Egyptian government By Cointelegraph

Blockchain document transfer provider CargoX extends agreement with Egyptian government

CryptocurrencyMar 07, 2022 03:00PM ET

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Blockchain document transfer provider CargoX extends agreement with Egyptian government

CargoX, a blockchain company specializing in document transfer solutions, announced a long-term extension to its agreement with the Egyptian government to digitize the nation’s trade flows. Last year, through its 80%-owned entity Misr Technology Services (MTS), the Egyptian government integrated CargoX’s Blockchain Document Transfer (BDT) service for its official NAFEZA single-window trade platform. Usage of the system became mandatory in Egyptian ports in October, and it handles more than 12,000 transactions per day. BDT is built on the Ethereum blockchain.

MTS chairman and CEO Ossama al-Sharif explained, “MTS succeeded in implementing [...] intensive customs procedures to a modern, state-of-the-art, digital ecosystem and extending it to engage the trade community abroad by partnering contractually with CargoX to leverage their leading-edge technology and advanced solutions.”

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