CargoX

What is CargoX?

CargoX Holding LTD is a distributed technology business development company focused on revolutionizing global finance and trade.

What We Do:

• Generating/Issuing cryptocurrency for the new emerging, decentralized global economy with real-time multiple stakeholder involvement
• Creating long-lasting innovation in the global financial technology space
• Investing in new startups in fields where digitalization can create maximum impact
• Researching new potential uses of cryptocurrencies

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Recent Video Interview

Main points of the interview:

• Since 2019, CargoX has evolved from a small startup with 14 employees to a major player, achieving €75M in revenue.
• The platform focuses on digitizing trade documents using blockchain, improving global trade efficiency with secure, verifiable, and automated workflows.
• Notable for acquiring a project in Egypt that streamlined customs processes, reducing cargo release times from 29 days to 9 days.
• Awarded Best Blockchain Innovation and Best Cross-Border Trade Software System Technology Provider of the Year.

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The Problem: An Introduction to Bill of Lading Documents

Every sea transfer in the world begins with the issuance of a Bill of Lading (B/L) document, acknowledging the receipt of cargo. This document serves as a title to the goods in transit, essential for claiming goods at ports. However, the current system presents several challenges:

• Cost: Printing and sending B/L documents via express courier services incur significant expenses, with average costs exceeding USD 100 per document.
• Risk of Loss: Physical B/L documents can be lost or stolen, leading to delays, additional costs, and potential multimillion-dollar losses.
• Slow Process: Conventional methods of transferring B/L documents involve multiple courier services and can take 5-10 days, increasing the risk of loss or theft.

Previous attempts to introduce electronic B/L systems faced challenges such as the need for a central authority, inability for online settlement, and lack of transparent rules. With the advent of blockchain technology, CargoX proposes a solution to these problems by creating an open, trustless, and decentralized ecosystem.

CargoX Solution

CargoX proposes a transformative solution by digitizing the Bill of Lading (B/L) document through blockchain technology. This innovative approach yields several significant advantages. Firstly, it enhances speed by accelerating document transmission, thereby reducing transit time and minimizing associated risks. Secondly, it achieves substantial cost reductions, exceeding 90%, through the elimination of paper-based processes and reliance on expensive courier services.

Finally, blockchain ensures transparency, trackability, and security throughout the document's lifecycle, effectively mitigating risks of loss or theft. By leveraging blockchain, CargoX not only revolutionizes the efficiency of B/L document management but also enhances trust and security within the global trade ecosystem.

CargoX Ecosystem

To facilitate adoption, CargoX will develop tools, rules, and protocols, including:

• A governing body comprised of industry leaders
• CargoX B/L eXchange protocol for document exchange
• CXO token serving as a utility token for protocol usage

Utility of CXO Token

The CXO token serves as the cornerstone of the CargoX ecosystem, providing diverse functionalities including system access, payment for usage fees, incentives, and rewards. With a structured approach, it empowers users by facilitating seamless interaction within the platform. By incentivizing usage and fostering referrals, the CXO token stimulates increased engagement and enhances the overall user experience. Through its multifaceted utility, the CXO token acts as a catalyst for driving adoption, promoting network growth, and optimizing the utilization of services offered within the CargoX ecosystem.

CargoX Protocol and dApp

CargoX introduces the B/L eXchange Protocol (B/L X), facilitating the creation, storage, and transfer of B/L documents among parties while ensuring proof of ownership and annexation. This protocol leverages Ethereum blockchain and encrypted decentralization storage, fostering an open industry ecosystem.

The CargoX Decentralized Application (CXDApp) complements this protocol by providing a user-friendly interface for carriers, importers, and exporters. Through the CXDApp, users can easily perform actions such as issuance, retrieval, transfer, and annexation of B/L documents, streamlining the entire process of document management within the global trade network.

Team Background

The CargoX team comprises seasoned professionals with diverse expertise and a shared commitment to innovation and excellence. Stefan Kukman, Founder & CEO, brings a decade of experience in logistics and leadership from Kuehne-Nagel. COO Primoz Kopac, a serial entrepreneur, excels in transforming concepts into successful ventures. Gasper Setinc, Product Manager, combines technical prowess with a passion for user-centric design, honed at Voxior. Blockchain Developer Dr. Janez Kranjc, with a Ph.D. in computer science, specializes in distributed methods and smart contracts. Designer Primoz Mavsar, skilled in graphic design and web development, enhances user experience with his creativity.

CargoX Price Analysis

As of December 21 2024 CargoX has a marketcap of $33M. This is {{percentagefromath}} from its all time high of $0.523279. In terms of its tokenomics, there's a total supply of 215M with 78% currently outstanding. Keep in mind CargoX has a fully diluted value of $43M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.