 startup in the world of logistics and I'll speak about a bit more about the company itself in the next slides. Our focus is on documentation and document transfer. By using blockchain we were able to reduce the costs and stress of international document exchange tenfold and in this presentation I'll try to explain how. So before we start let me just tell you about myself so as Sean already explained I'm the CTO my name is Boyan so my background is in IT. I work in various companies and industries at different levels for 20 years now and gathered a lot of different experience. I'm currently now in logistics and shipping industry but if you do wish to contact me here are the details and contacting Cargo X also. So our story actually begins with the bill of lading. For those of you who are not familiar with this type of document allow me to give you a brief overview so it's the most important document in the maritime world. It enables maritime trade and holds three very important functions. It's a document of failure and document of ownership. It denotes the terms and conditions of the carriage and it's used to release the goods at the port of destination. Bill of lading is usually the foundation for the letter of credit insurance covers and similar in the international trade. Maritime logistics is a big industry. Over 400 million documents are sent annually and seafright industry rates are in October 200 billion dollars per year so this is a big business and documents here really have a lot of value. Additionally this document would need to be printed as an original by the shing party document would then be packaged and delivered by the courier service while the actual cargo was driving by a fight ship. It would usually travel by plane or road independently of the cargo. This process is slow. It's time consuming and most importantly expensive. It's estimated that this process costs over five million dollars in career cost alone. However the issue is not unique to the bills of lading. There are many documents now that need to be sent in paper form as they are documents of title or require authenticity of said document. Email and previous defectors have been available for quite some time. However in practice a lot of documentation is still shared in physical form due to these constraints that I mentioned previously. Now of course this results in many issues. Physical documents are not environmentally friendly and have high cost of manipulation. Documents of title can sometimes get lost, stolen or forged representing a significant business risk and additional cost to reissue these documents. We just recently published a horror story on our website explaining how one company that we know has had an issue with the stolen bill of lading. Transfer of documents usually takes days as opposed to digital transfer which can be done on blockchain in an average of 15 seconds. Archiving documentation is also a big challenge. To reduce costs a lot of companies decide to re-scan these documents and keep the original soft side. There are also many challenges with paper documents and regulators and government bodies as well. They have difficulty verifying the authenticity of the document if we are talking about for example an import certificate or documents or certificate of origin and documents, speaking physical documents, to customs authority takes time and money. So Cargo X said that there has to be a way to do this easier and the idea was to transfer these documents digitally. While there are already companies which provide civil service, blockchain was a new momentum in the world that promised to simplify a streamline a lot of things. We started off with the idea in October 2017 and by July next year we were able to transfer the first original document of title over a public blockchain. Currently we have over 5,000 documents already processed on the platform and we are getting ready to release the next generation of the platform. Now using blockchain has enabled us to create an exact replica of the bill of lading online without the shortcoming of the traditional centralized systems. Using blockchain the guarantee of authenticity and immutability of the document is inherent in the technology itself and this is one of the great benefits of blockchain. Now blockchain was the perfect fit for what we were trying to achieve. For the first time in human history we can create digital assets as blockchain offers digital scarcity the possibility to have unique digital entities. This wasn't possible previously. Blockchain as such is a proven technology. It has an unbroken track record with over 10 years worth of transactions so the first blockchain was bitcoin in 2008 so now that's more than 10 years and the technology still works. Decentralization also means there's no central repository no single point of failure no way or reduces down times practically zero which is especially important in international trade and the records on the blockchain are immutable by design. Once recorded they have they're impossible to change which is ideal for creating digital trust and verifying authenticity. So while we decided to go with a public blockchain there are many types of blockchain and distributed ledger technologies. In general blockchains can be split into public and private blockchains. The biggest difference being that public blockchains have no governing body. Anyone can join and leave a public blockchain nobody controls the data. Number of nodes it's in usually in thousands. Private blockchains on the other hand usually run on tens or hundreds of nodes and joining and accessing the data is more explicit. That's precisely why we decided to run with a public blockchain. So this way the current holder of the digital document and I cannot stress this enough is always known and outside cargo access influence and control so this information is recorded and publicly available. This also means that transfer log of the document for example the bill of reading is always available and verifiable by anyone. Most importantly access to the public blockchain cannot be revoked or prevented which is critical in the international trade. Public blockchain is run by individuals and companies all over the world and cargo access is mainly one of those users so cargo access does not control the data or how this blockchain works. And finally with that many nodes changing data is impossible with private blockchain a consensus of 51% of all involved nodes is much easier to achieve and potentially change historical data with public blockchain that's practically impossible. Now cargo access enables the digitalization of trade documents on the back of the blockchain document transaction system. This allows anyone to transfer documents of value around the world in seconds while preserving the historical ownership, timestamp endorsement and logbook. All of this is already available and live on our platforms. While using digital documents can represent considerable cost savings it also brings many other benefits. Users can now work from home as there is no need to go to the office to pick up paper documents. There's no need to interact with the physical paper which can become dirty misplaced or damaged. There's no need for career delivery services as everything can be done electronically. So signing up for this platform we are quite all open about how we market and how we sell this platform so signing for the platform is free. Most users also use it for free only the issue of the document pays for the service. I would like also to point out that it's possible to use the application solely through the web interface. We offer complete API access for complete interoperability with existing platforms. In this way the users of existing systems can start using the blockchain and blockchain related technologies completely transparently. I have a short video here explaining the process of the application. Let's watch it together. The bill of lading is the oldest standardized document. Sorry hello. Yes we seem to have hung up here. Yeah okay can you see my video can you see my screen at all? No I can see your screen it as the video has stopped. Okay let's take cargo shipping. This three-fold legal document holds the key to cargo ownership which makes it the most valuable piece of paper in global logistics. Slow and expensive prone to human error loss and counter fitting the workflow of this important document remained basically unchanged to this day. Cargo X is a new force on the logistics market with a mission to forever change the bill of lading. Latest developments in blockchain technology have enabled us to create a bulletproof smart bill of lading workflow. Instead of printing the BL and the hassle and expenses involved with couriers with cargo X creating and sending a smart BL is just a few clicks away and available at a mere 10% of the price. If the BL is lost or stolen it takes weeks to issue a new one. In the meantime the cargo is already at the destination port and the importer is paying hundreds of dollars per day in the marriage costs. With cargo X smart BL this can never happen. Let us show you how easy it is to create and send the smart BL using an everyday example. As soon as the cargo is loaded the logistics company creates a new smart BL in our web-based application and sends it to the exporter. This and all of the following steps utilize the latest encryption protocols to transfer the digital BL in a matter of minutes and that's a fraction of the cost associated with paper-based BLs. When payment for goods is received the exporter transfers the smart BL to the importer with just a few clicks. Sounds too good to be true? It's actually even better. The inner workings of the blockchain are based on open standards and decentralized. Most importantly they are verifiable by anyone at any time. For our users this means the ultimate security enterprise level reliability and peace of mind. Within hours of the ship leaving port the importer receives the smart BL and the transfer to the release agent can be made. When ahead of its cargo the smart BL is already at its final destination and the goods could be released as soon as the ship arrives. No delays, no surprises, no worries cargo X into the future full speed ahead. Okay so moving on as explained the platform itself is already live and working as can be witness but many partners that we are working with. Our hard work has been recognized by international group of P&I clubs as we are one of the six companies worldwide to be approved for the transfer of the bill of documents. Out of these six only three are using blockchain and to the best of our knowledge we are the only one using the public Ethereum network. I'd just like to take another minute here to explain the security and privacy aspects of the platform. We have designed everything to be secured by default. That's why all transfers need to be signed by users' private key. Cargo X cannot transfer or modify documents in any way. Our platform just serves as a proxy to the public blockchain. The platform is also completely GDPR compliant. We do not store any document or personal data on the blockchain. Once document is uploaded to the platform a unique hash is generated from the document and this is the only information recorded on the blockchain. The document itself is encrypted and uploaded to the distributed file system. This way any CPN can verify the authenticity on the issue of the document using publicly available data. While the current iteration of the platform is very much focused on maritime industry the underlying technology is capable of so much more. The blockchain document transaction system allows for the transfer of structured and unstructured documents in any industry be it maritime shipping or any other. That's why we started working on the third generation of the platform which is industry organic from start. There are 50 kinds of documents already supported. New ones are being added constantly. The user interface can be greatly simplified to enable a seamless sign-up and usage. If you haven't used email you'll feel right at home. We support documents of title such as bills of latex and guarantees of origin. These require precise transfer log to be tracked completely on chain. Other documents fall into category of authenticity documents using different kinds of certificates for example. For these documents it's vital to understand who issued the document and to verify that it's really original and all of this is recorded on the blockchain. The platform is capable of applicable to many fields of supply chain where proof of authenticity is needed. For example it's perfect for exchanging bills of materials for electricity trading, legally binding or bidding documents and certificates. And we're still providing the platform or a paper use basis with no hidden costs. Lastly I would like to go through some of the use cases of the existing platform. Here we have a use case of a house bill of lading exchanged directly between an exporter in China and importing in Slovenia. This was the first document that we actually transferred on the platform and it was transferred in 15 seconds instead of days. Another use case is an interesting one as it involves financial institutions. Here an exporter created the document which was transferred to a Bangladeshi bank and then to a Slovenian bank. The bill of lading was used as a corrector to make sure the goods are paid for before being released. Here's another case involving the master bill of lading for international shipping line in a breakboat cargo. The document was transferred directly from the issue in China to recipient in Peru on the smart BL platform. So the platform works for any kind of modality for any kind of bill of lading document whether it's a house bill document, master bill document, electricity, sea bill or road documents such as airway bills and roadway bills. Lastly, I have another case which involves spending in Brazil. Brazil is especially interesting here as there has been strong movements within the Brazilian customs to offer easier access to companies using completely digital documents. That's it. Again, you're kindly invited to join our platform. It's free and open to everybody and explore. If you have any additional questions, Peter and I can answer them now. If you'd like to get more information, please do get in touch. Thank you. Thanks, Boyan and Peter. We've got, I think we have a question or two that came in via chat here. Stephen Thomas asked how about oil cargoes. I'm sorry, world cargoes. I think he's talking about oil transport and moving. Yeah. Hey, Peter here. It works for all kind of transports, right? So we are moving ahead with container shipments, of course, and then it's the classical dry bulk. And our pipeline is now growing in the liquid bulk as well, because there's a number of transactions of documents in that segment as well. The target industry in the liquid bulk is happy to use the platform in a way to also interact with financial institutions like banks. And it's especially useful for trading because you can resell the goods while still on the water. And you can do that by moving the ownership of the cargo by ownership of the bill of lading by different traders through different traders. So it's very efficient for the trading as such. So yes, I can confirm liquid bulk is also one of our target industries. Okay. All right. So we have a question from is there a payment solution integrated in your solution? Okay, so maybe if you can expand on this question a bit, because payment is a really broad subject, but I can just give you a general answer on this general question. And that's that we are looking into it. We have been talking with different payment providers, but no such solution is currently integrated into the platform. Okay, so if you have any further questions, please do get in touch and we can discuss specifics. Okay. Yeah, a couple, a couple more questions here. I'm in for Leonardo. Okay, great. Hey, Sean, it's Chris. Yes. Bohan, on the payment question, what kind of payment processor or payment company would you be looking for from an ideal standpoint, as far as cargo access point of view? I mean, what we do is we are focused on document exchange. So we are constantly looking into value added services that would increase the value of the platform. One of those would also be a possibility to make payments, but that's not the core feature of the platform. So it's really difficult to answer now what kind of possibilities we're looking at. I can tell you for a fact, and maybe Peter can also expand a bit more. We have been talking with different payment institutions and payment providers, and they're quite interested into, you know, working together and either integrating their payment service into our platform or why it's worse, but so far no final decisions have been made. Well, I can add here is we are also looking into a broader ecosystem and connecting to the trade finance platforms. This is ongoing discussion right now with a couple of consortiums, basically to merge the best of the technology, the best technology has to offer. We believe our technology is splendid to change, to transact the ownership of the documents of title. We can link that to the financial institutions, to the trade finance in terms of, you know, linking it to the letter of credit or to the payment guarantee. So I believe that that kind of ecosystem will be actually the future. Okay, Sean, can I just ask one more question? Sure. Would, as you've experienced people coming onto the platform, what has been, have there been any startup or integration challenges that companies have encountered that either have been problems or you've helped them overcome? That's an interesting question. I'm not quite sure how actually to respond. So Petra, if you can help this out, but I mean, we did have some integrations with certain companies, but this was mostly my experience was with platforms where they provide, you know, services to NVOCCs or shippers and they wanted to have an additional possibility of also transferring digital documents. So for them, it was, you know, a really simple or no brainer having, you know, everything on one platform and then to have to print out the document and send it by courier service instead of doing everything digitally. It was much easier and much simpler and it makes sense to integrate the platform like ours. I'm not quite sure what I can tell you about startups, though. So Petra, can you share your thoughts on that question? Well, difficult. I'm not sure I completely understood the question, but I can comment is that the few integrations that we have done so far from a technical point of view went through smooth. Every step of our platform is API supported. We have recently interconnected with one of the private blockchain platforms and I cannot recall that we had any concrete issues. The beauty of our platform is that through the API, we can connect into an existing system and we actually adopt to the existing workflow instead of us asking the companies and enterprises to change their work processes. So we adjust to the existing work process instead of the other way around. Great. Thank you very much. Okay. Just a point here and, Boyan, please correct me if I have this wrong, but I believe what you store on the blockchain is what you're tracking as document ownership. And you also put out there a one-way hash of the document, but the document itself is kept off chain, which is what enables you to use the public blockchain and not worry about GDPR compliance. We do worry about GDPR compliance, but that's exactly right. So what's taught on the blockchain is the hash of the document. That hash is for those who are not so technically inclined, a digital fingerprint of the document, which means that it uniquely identifies the document. So whoever holds the document can verify that that document is an original by using this hash. So he can calculate the hash themselves and match it against the hash, which is on blockchain. This way you know that the document you have hasn't been altered. And because we're using a blockchain ERC 720 tokens on the Ethereum, now I'm getting a bit technical, you're actually passing along the token with this hash from one party to another. So you can also see who was the previous owner of this document, as well you can also see exactly who issued that document. And this is indisputable, precisely because every user uses their own private key to sign the transaction of the transfer. So this way PygoX is nearly a proxy. So we are not storing anything on blockchain ourselves. The users are storing, we're just helping them out by providing this in a nice to use web application. They still sign the transaction, they still sign the actual hash that is going to go on the blockchain. And this is the only part of the information which is stored on the blockchain. The document itself can be transferred by any means necessary. I mean, for all technically, from the blockchain perspective we care is you could even send it by email. But with mail, if you just send the document forward, you lose the ability to track the original and you lose the ability to track the authenticity. That's where the blockchain comes in. Now, for our platform to make things a bit more user-friendly, we store their document for the user inside the platform. So it's all pretty simple to use. It's similar to email and you can get that document down. But you can still verify the information about the document independently of PygoX through third party sites which offer you insight into the public Ethereum blockchain. Okay, thank you. Welcome. Jodi, if you're there, I'll put you on the spot a little bit here and I know you're also an expert in this area. Your thoughts and observations here. Hi, thanks for calling me out, Sean. Greatly appreciated. I was always glad to help out, Jodi. Yeah, I have had some experience with CargoX in the past dealing with Stefan, guys. So nice to hear your voices again as colleagues and have been relatively focused in this area for, I'd say, at the last four or five years. I think from our perspective, looking at bills of lading, it's more the underlying data that's always been an asset to the actual document and the provenance of that data from the specific supply chain actors that drives the trust within the bill of lading. And the relative understanding that I have, well, not had, I would say with the bill of lading on a blockchain concept is how do you protect that document from being manipulated prior to entering the CargoX platform? I mean, this is the same question as you would have to how does DHL make sure that the document wasn't manipulated before they took the envelope from the issuer? So we are here relying on the issuer themselves to upload the document in a proper format. So it's their responsibility. So the issuer is the one that issues the document. And from there on, the document is treated as an original. So this way, I don't see any problems with it being manipulated because it's not, you know, the consignee or the shipper who is uploading the document, but it needs to start at the root. So whoever creates the document needs to upload the document. Does that answer your question? Yes, it does. But I think it also then provides some context that, you know, should we be looking further in the supply chain to create that provenance of the of the document to create that relative value? Simply because the issues surrounding our house bill of lading on top of an original bill of lading could also be differentiated and so forth. It's from my perspective that if the industry is going to really take a lot of value from distributed ledger and bills of ladings, it's been able to track those data sets as in shipper consignee cargo from the the actual inception of that data from within the supply chain. And I think if the industry takes those steps, we could really see a renaissance within this document, which as you rightly point out is, you know, from the 1800s and probably one of the first uses of paper in human history. And we would obviously like to be part of, you know, anything in that regard with Carver X to help facilitate those flows, which are quite important, I would say from our perspective for, you know, customs, border force, and so forth. It's that aggregation of data and provenance of that data that I think makes up what we could potentially turn a document into a digital asset with the associated data moving between various parties. Yeah, I totally agree. So there are two big distinctions that need to be made here. So one is the actual information about the document authenticity and ownership. And that's what can be solved by using a blockchain. And the other one is the quality or the actual transfer of data. And frankly, I don't see blockchain as a good fit here. So you need to have, you know, systems which are structured in a way to actually explore data in a structured format, and then that transfer that structured data on. And blockchain is not appropriate for that, but blockchain is great to make sure that data hasn't been altered and that data has been actually created by the person or entity that is allowed to create that data. Absolutely. Yeah, so on our end, we are trying to achieve this by providing, I haven't spoken about this, but in the first stage, we do expect that most of the documents that are going to get exchanged on our platform are going to be PDFs. Why? Because it's the easiest format to start working with. Currently, companies are receiving paper documents. And most of those paper documents are created not by hand, but from existing systems. They print them out and on the other end, they need to type them back into their system. So creating a PDF is quite the trivial task, uploading it to the CargoX platform. So simple. And seeing it on the other end is simple. But I expect that during the following years, data consolidation is going to happen. So we are not going to get PDFs anymore, but structured files, JSONs, XMLs, or YAML documents, which will then be automatically exported from the first system and automatically imported into the next system. So this way, the integration is going to be really fluent and easy without any human interaction or error. But until there's some standards, and I see that there's standards already started to emerge, this is going to take some time before all systems are updated to support this kind of interaction. Okay. Thank you, Jodi. Thank you, Boyan. The discussion that we just had, I think, is a very key point on there's a need to recognize where blockchain is good and where you're better off using some other technology. And what we're seeing in solutions today is that blockchain is only a portion of an overall solution. And I think the discussion we just had really does highlight that, that blockchain is good for ensuring integrity and moving data across enterprises, but it's not good at all things for all people all the time. So one of the things we have focused on here at DSCI is identifying where and how to best use blockchain within an overall solution. And then we're developing a set of tools that support that. Not silver bullet, so nothing is. But having that immutability does give you a lot of use cases where blockchain is a more appropriate solution than traditional ways of doing things. Yes, absolutely. Couldn't agree more. It is really good at workflow between companies and specific situations. Ganesh is what I should point out that Jodi is the CEO of Marine Transport International based in the UK. And Jodi and his company has been focused recently very much on cross-border workflows working with the UK government as they embark on separating themselves out of the EU with Brexit. Ganesh is with SAP and heads their blockchain activities. Ganesh, maybe you'd like to make a couple of observations here and I'd be interested in your thoughts on today's discussion. Yeah, Sean, I think this area that was presented just now makes a lot of sense. We've been working. This was one of the processes that we've been working on, blockchain perspective. We've worked with several customers around the globe. And this is a problem that, as was pointed out, currently exists and blockchain is a technology that can definitely help address a lot of the issues that exist in the international trade area. Okay, thank you. And maybe just as SAP's approach here, Ganesh, I know you're not focused, you're focused on industry solutions, not necessarily on general, well characterizes, general workflow management. But do you see the work that folks like Cargo X is doing as fitting into your overall industry solutions or, you know, obviously it's going to interface with SAP, with the ERP back ends here. And it sounds like Cargo X has developed the APIs to do that. But how do you see this sort of solution fitting in with the work that SAP is doing? Yeah, so the POC that I mentioned is exact, I mean, from the description looks exactly what we developed a couple of years back. And we had a lot of our customers execute that POC. I've also published a blog post on that. So this is definitely a cross industry solution. Every industry has goods being transported across country boundaries, intermoral transport, etc. So this is one of those areas where it's got cross industry relevance. And SAP's approach is to not only look at such processes, but as you mentioned, take industry specific processes. And then from a roadmap perspective, we plan to generalize those solutions so they're applicable across multiple industries. So bill of lading, as was explained, is a cross industry solution, material traceability, is a cross industry solution, though it has nuances in particular industries. So if you are in the food industry, you have the genealogy tracking provenance that you need to provide if you are in the regulator industry or in the high tech industry or pharmaceutical, then you need to still provide material trace or require material traceability, but have serialized product information that needs to be tracked. So, yeah, I mean both flavors of the solutions, we are focusing on both of them. Okay. Thank you, Ganesh. Okay, I do see we have here a question from Magdalene. So she's asking about customs, where border still need to present physical copies to clear their goods. So maybe, Petri, you can answer this one, but I can say that we've been working with some African countries and with customs in South America where there was a similar process, so they did ask for a physical paper, and I can say that this is gradually changing. It's not changing as fast as one would hope, but we definitely see a lot of interest in going this forward. So in the end, if there is interest, things can get moving quite fast. It all depends on how big the import or exporter is and how willing they are to work with us together to come to that customs and try to move things along. Petri, if you want to add something. Yeah, I mean, you said it, right? It's all about leverage. The technology is here, it's proven. If we go to Cargo X, we are also P&I approved, so there's no legal restriction not to use an electronic bill of lading and change ownership of it through the platform, and the customs then react, of course, to the pressure of the business. We cannot expect the regulators to drive digitization, but they are open to it. It's a good case from South America where for decades, customs authorities have been asking for the bluing signed and stamped bill of lading in a paper format, and now they are open, and they have already released a number of ships in bulk segment receiving the bill of lading in a digital format through our platform. So things are changing, and of course the enterprises and the business itself has a very large leverage to actually speed things up. Again, technology is here, legally covered, so there are no risks to it. We just need to push it through to have the global coverage, and of course we're talking about handful of countries in the world that are still asking for the original paper documents here. The rest of the world works in digital. If you have any specific questions, I see that there are a lot of questions from Regina, and this may be outside of the scope of this webinar. So please do get in touch via LinkedIn, and we can discuss this one-on-one call. Okay. All right. Yeah, Jody, anything you want to add from your work with Her Majesty's Revenue and Customs on how the UK is approaching it? Yeah, sure. I think from a UK perspective, there is enough interest and enough understanding that just as the cargo ex-chaps mentioned that the technology has proven, it's more about creating ecosystems now, where we can plug all these existing solutions together, whereby we can create these industry vertical solutions under the mantle of what we call friction of trade. And I think particularly in my experience, where I think Peter mentioned that you can't expect regulators to drive adoption, but what we can expect from regulators is to understand, foster and help develop ecosystems, which is exactly the approach which is being taken now here in the United Kingdom. And they're more than willing to discuss with industry on how we can focus on trade and compliance issues under the mantle again of frictionless trade. I mean, I can tell you for a fact that the same thing is happening in the EU. We are part of the Digital Logistics Task Force Forum, where basically they are talking about the same things, you know, how to create an ecosystem where all these platforms can cooperate on one specific set of data in one specific way. Hey, Bohan and Jodi, this is Chris. Do you think it would, on this government regulator acceptance question, do you think it would be helpful if DSCI and CGE were to convene, offer to convene a conversation among customs authorities about what the state of blockchain use in shipping and this kind of bill of lading area would be and have maybe the UK government or other governments who are fast movers be willing to describe why they came to an area of acceptance? I mean, from my point of view, it wouldn't hurt definitely. I mean, the more you talk about it, the more I think traction it's going to gain. So Jodi, what do you think? Yeah, absolutely. So I know some of the trade agreements that have been undertaken for post Brexit scenario focus around the element of data sharing and on a sovereign to sovereign basis, the use of distributed ledger and transfer of documents and data is high on the agenda. And the government here is more than willing to interact with various different customs regimes in order to ensure that they can do this on a on a global basis. So I would say definitely yes. Okay, well, we'll consider that and see if we can create a useful program that would be beneficial for accelerating industry's capability and government's acceptance. Great. Okay. Great. Thank you. Boyan, Peter, closing comments here. We're coming up on top of the hour. Maybe I'll just take 30 seconds to say that I believe, you know, this is my opinion that we are on a verge of, let's say, a third industrial evolution. We've gone through cycles, you know, decentralization, centralization, and now we are again talking about decentralization, you know. Internet started off decentralized. Now a lot of centralized services appeared, you know, Google, Amazon, Microsoft, but with blockchain and distributed fire systems, we are again going into the way of decentralization. I think this is essential. This is going to happen in all the industries and it's going to affect everybody worldwide, especially because it's going to be, you know, much simpler and much easier to do work and to, you know, exchange data. And on the practical note, right, I mean, we know we all work with an idea of creating this ecosystem that's going to solve all the bottlenecks of the industries, right? I'm also a spokesman of step-by-step, right? We have, for Cargo X perspective, a workable platform that is addressing a small part of the workflow, but it works. It's proven. It's legally covered. And I, of course, you know, emphasize just start using it because that's also getting to know with the technology with blockchain. And it's in a given year, you can save X amount of cost already. And of course, while the ecosystem evolves, then you start adding new processes into the platforms to the end hardest, the best of what technology can offer. Yes. And that's a very good point. I would say a couple key takeaways from this morning's for today's session is one, blockchain offers automation capabilities across industries and enables the elimination of a lot of things that are done via paper today. And we add great efficiencies to the overall process. Nowhere is that more evident than within the marine transportation industry and in bell ladings as they move. You know, the cargo is moving in front of the bell ladings today. Solutions like Cargo X and what they're doing enables the bell lading to arrive prior to the actual shipments. And there's tremendous productivity improvements that can be gained by doing that. You know, two is that as the second takeaway is that that it's easy to get started. You know, it's easy to take a workflow that you have today that is paper based and blockchain enable that workflow and achieve benefits very, very quickly on that. It doesn't need to be a sophisticated solution. It can be a simple set of tasks and workflow that you can quickly automate and you within your own blockchain can control that and gain the benefits. And, you know, three DSCI has a set of capabilities and tools that can help you assess those opportunities and approach them in a in a logical fashion that achieves results very, very quickly. Bojan and Peter, I'd like to thank you for what has been a very informative session today and very much appreciate your participation. And to all the others who participated today, thank you very much for joining. I hope you got as much value out of the session as I did today. So, thank you very much. Yes, thank you. Have a lovely day. Thank you. Have a great day. Bye. Bye. And this concludes our session today.