In an era where international trade faces hurdles like bureaucratic inefficiencies, CargoX steps in as a revolutionary force in document transfer. Born in January 2018, this blockchain-based service seeks to outpace traditional logistics giants like DHL, FedEx, and UPS by promising the digital transfer of original documents globally in mere seconds. Leveraging Ethereum for its Blockchain Document Transaction System (BDTS), CargoX initially carved a niche in the freight and supply chain segments. By 2019, it expanded into air cargo and envisioned providing a universal, fast, safe, and cost-effective solution for document ownership transfer. With smart contracts ensuring authenticity and security, CargoX offers a glimpse into the future of streamlined global trade.

The Purpose and Utility of the CargoX Crypto Token (CXO)

The CargoX crypto token (CXO) is a utility token that powers the document transfer for the CargoX Company. It is used for the creation and exchange of electronic trade documents, such as bills of lading, letters of credit, and ACI filings, among others. The CargoX Platform is built on blockchain technology, which provides enhanced security, transparency, efficiency, and immutability, making it an attractive option for various industries and applications.

Solving Global Trade Document Transfer Issues

The CXO token serves as a core part of the CargoX digitalized business model, providing multiple intrinsic utilities, such as system access, payment for usage fees, gas for running Smart B/L contracts, usage incentives, bounty and reward mechanisms, access and payment for advanced features, and facilitating API integration to the CargoX system. By using CXO tokens, users can access the system and perform core operations on the B/L eXchange protocol, as well as benefit from incentivization mechanisms for facilitating network growth, increasing interactions with the system, tailored product development and personalization, onboarding and faster adoption, and facilitating API integration to the CargoX system.

The CargoX token aims to solve the problem of secure and efficient document transfer in global trade, where multiple business interactions between the same peers need to be secured. By creating tools, initial rules and protocols, and a governing body comprised of industry leaders, the CargoX ecosystem aims to drive the market and facilitate the creation and exchange of Smart B/L by boosting network growth and facilitating decentralized transfer of digital ownership claim and payment method for logistics services.

Functionality within the Ecosystem

The CargoX token (CXO) was originally an ERC-20 token on the Ethereum blockchain, designed to incentivize the use of the CargoX platform by making it 20% cheaper to use than fiat methods. However, due to the slow adoption of blockchain technology in the logistics industry, CargoX has shifted its focus towards enabling direct BTC or fiat on-ramp ways to buy services, making it easier for customers who are not yet blockchain proficient.

The CXO token still fulfills the same functions within the CargoX ecosystem, but its utility has evolved. The token is used for API request authorization, hash creation, client application creation, and OAuth credentials status fetching. It also serves as a payment method for logistics services and facilitates decentralized transfer of digital ownership claims within the Smart B/L eXchange protocol.

The CargoX platform offers a simple web app with API integration capabilities, allowing businesses to transfer and manage electronic trade documents with the highest level of security. The platform supports over 65 types of documents, including bills of lading, letters of credit, certificates, and more, ensuring authenticity, secure audit logs, and confidentiality.

Unique Features and Benefits

One unique feature of the CargoX crypto token is its integration with the CargoX Platform for Blockchain Document Transfer (BDT), which is used by over 113,000 companies worldwide and has processed more than 5 million electronic trade documents. This platform is based on the neutral, public blockchain distributed digital ledger called Ethereum, ensuring a high level of security, transparency, and trust for its users.

The CargoX crypto token is particularly specialized in integration with governmental workflows for customs processing and compliance verification, making it a unique solution for international trade. It offers protection against cybersecurity risks by encrypting all documents and validating document transfer using highly secure blockchain keys.

In addition to its use within the CargoX platform, the CargoX crypto token can contribute to environmental sustainability by reducing the need for paper in the shipping documentation process, thereby reducing deforestation and carbon footprint.

Overall, the CargoX crypto token stands out for its integration with a proven, trusted blockchain platform, its specialization in governmental workflows, and its contribution to environmental sustainability.

Tokenomics and Distribution Model

The CargoX crypto token, known as CXO, is a utility token that powers the document transfer for the CargoX Company. It is built on Ethereum and originally used the ERC-20 standard. The tokenomics and distribution model of CXO have been discussed in various sources, providing insights into the total token supply and the number of tokens in circulation.

Total Token Supply and Circulation

The total token supply of CXO is not explicitly stated in the provided sources. However, the sources do mention that the token has been used for incentivizing the use of CargoX services, making it 20% cheaper to use than fiat methods. This suggests that a significant number of tokens have been distributed and are in circulation.

There is no mention of a maximum supply cap for CXO in the provided sources. The token's distribution model is not explicitly outlined, but it is known that the token has been used for various purposes, such as incentivizing the use of CargoX services and being used as a utility for document transfer.

Distribution Model

The CargoX platform provides companies with an easy way to upload documents and securely transact them with the help of blockchain technology. The platform is built on Ethereum and powered by Polygon. The token is used for document transactions, and all documents will be compatible with buybacks. The team has allocated 20% of the documents' purchase value to the token.

The token distribution model is not explicitly mentioned in the sources. However, the sources do not indicate any specific allocation percentages for the team, investors, community, or other stakeholders. The sources do mention that the token is important and the team intends to use it as the primary token in the future, but the details of this are not provided.

Mechanisms to Control Inflation

To control inflation, CargoX has implemented a token burning mechanism. However, there has been a recent change in their approach, with the end of burning being uncertain. The team has stored tokens, but it is unclear how they will use them and what impact this will have on the market.

There is also a mechanism in place for staking rewards, where all documents are compatible with buy-backs, incentivizing the use of the CXO token.

In summary, the tokenomics of CXO include a buy-back mechanism, token burning, and staking rewards to control inflation and incentivize the use of the token. The distribution model involves allocating CXO credits to customers, which are fixed in price relative to CargoX services.

The Team Behind CargoX

The CargoX crypto token is backed by a team with extensive experience in logistics, finance, startups, IT, and blockchain sectors. The founding team includes individuals who have held key positions in various industries, bringing a wealth of knowledge and expertise to the table.

Core Team Members