What is CargoX (CXO)?
CargoX is a blockchain protocol that allows for the easy, transparent, and verifiable transfer of documents. The platform initially focused on global freight and supply chains, later expanding its operations beyond the logistics sector. CargoX deploys a decentralized app on the Ethereum network to facilitate secure and near-instant document transfer.
CargoX bills itself as an independent blockchain courier service pitting against leading courier companies like DHL and FedEx. The protocol provides a timely and cost-effective solution for delivering documents to any part of the world while maintaining the authenticity of each document. Unlike the conventional courier companies that take up to weeks to send documents, CargoX gets it done in seconds.
Also, traditional courier services may not deliver to every location, costing the sender or recipients additional charges for door deliveries. CargoX is borderless, so recipients can access the documents from their location anywhere around the world.
For documents delivered physically, CargoX deploys the blockchain document transaction system, or BDTS, to ensure documents are delivered without tampering. The system utilizes smart contracts to provide audit logs of the documents to prove their authenticity.
Apart from its public blockchain, CargoX also has a native token called CXO, which enables processes on the platform. To view the CXO price in real-time, check out the CargoX price chart above.
The Story of CargoX
CargoX was founded in January 2018, mainly plying its operations for global freight operations. A year later, the protocol expanded its operations to other sectors, including trade, manufacturing, finance, and energy industries. Even then, freight companies like ConsolFreight, Freightalia, dexFreight, and Ocean were still CargoX's partners. The founding team has received multiple awards and recognitions. Among these awards are Freight Tech 100, South by South West (SXSW) 2019 Pitch Finalists, and the 2018 Blockchain Innovation Award.
Use Cases of CXO Tokens
CXO token is CargoX’s utility token. The coin drives the platform's blockchain document transfer (BDT) technology. Users have to deploy CXO when initiating document transfers and settling network transaction charges. The token also enables CargoX’s implicit trust and flexible workflows.
Planning to buy CargoX coins? Don't forget to check the CargoX price chart above. Knowing the current and the previous CXO price will help you to make better purchasing decisions.