CargoX

What is CargoX (CXO)?

CargoX (CXO) is a blockchain-based cryptocurrency and platform designed specifically for the shipping and logistics industry. Launched in 2018, CargoX aims to revolutionize the way shipping documents are transferred by creating a decentralized, secure, and efficient document transfer solution.

The CargoX platform replaces traditional paper Bill of Lading documents with their digital equivalent, known as Smart B/L™ (Smart Bill of Lading), which is powered by blockchain technology. This innovation significantly reduces the time, cost, and security risks associated with traditional document transfer methods in global trade.

How Does CargoX (CXO) Work?

CargoX (CXO) operates on the Ethereum blockchain and utilizes smart contracts to facilitate the secure transfer of shipping documents. The platform's core technology, the Smart B/L™, works through the following process:

1. Document Creation: Shippers can create digital Bills of Lading on the CargoX platform
2. Document Transfer: These documents are securely transferred between parties using blockchain technology
3. Document Verification: All parties can verify the authenticity and ownership of documents
4. Document Release: When goods arrive at their destination, documents can be released digitally

The CargoX platform ensures that document transfers are secure, immutable, and traceable, eliminating the risks of document fraud, loss, or damage that are common with paper-based systems. Each transaction is recorded on the blockchain, providing a transparent and auditable trail of ownership.

CargoX (CXO) Staking and Mining

CargoX (CXO) does not offer traditional mining capabilities as it is built on the Ethereum network, which itself is transitioning from Proof of Work to Proof of Stake with Ethereum 2.0. However, regarding staking:

Staking on CargoX:

CargoX does not currently offer a native staking mechanism in the traditional sense where token holders lock their assets to help secure the network in exchange for rewards. Instead, CXO tokens primarily serve as a utility within the CargoX ecosystem, being used to pay for services and transactions on the platform.

Some users may find opportunities to stake CXO tokens on third-party DeFi platforms or exchanges that support CXO staking pools, but these are not officially part of the CargoX protocol itself.

What is CargoX (CXO) Used For?

The CXO token serves several key functions within the CargoX ecosystem:

• Transaction Fees: Users pay for document processing and transfer services on the platform using CXO tokens
• Platform Access: CXO tokens grant users access to the CargoX platform and its services
• Governance: Token holders may have voting rights on future platform developments and upgrades
• Value Storage: CXO can be held as a digital asset that represents value within the shipping industry ecosystem

The primary value proposition of CXO lies in its utility within the shipping document transfer process, specifically for creating and transferring Smart Bills of Lading and other shipping documents.

CargoX (CXO) Token Distribution

When CargoX launched its ICO (Initial Coin Offering) in January 2018, the CXO tokens were distributed as follows:

• Total Supply: 215,119,016 CXO tokens
• Tokens for Public Sale: 60-65% of the total supply
• Team and Advisors: Approximately 20% (with vesting periods)
• Reserve Fund: Approximately 15-20% for future development and partnerships

The funds raised during the ICO were primarily directed toward platform development, business expansion, marketing, and operational expenses. The token distribution was designed to ensure long-term sustainability of the project while providing adequate liquidity in the market.

Additional Information About CargoX (CXO)

CargoX has formed strategic partnerships with key players in the shipping industry, including port authorities, freight forwarders, and shipping companies. The platform has been successfully implemented in various countries, with notable adoption in Egypt where it became part of the country's national single window system for trade facilitation.

The project continues to expand its solutions beyond just Bills of Lading to include other types of shipping documents, such as certificates of origin, commercial invoices, and more, making it a comprehensive document transfer solution for global trade.

Trading CargoX (CXO) with Cryptohopper

Investors and traders interested in CargoX (CXO) can easily trade this cryptocurrency on various exchanges using Cryptohopper's automated trading bot. Cryptohopper provides a user-friendly platform for setting up trading strategies, allowing users to automate their CXO trading activities based on market indicators and signals. This solution works on any exchange that lists CXO, giving traders flexibility while maximizing potential opportunities in the market without requiring constant manual monitoring.