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The CargoX aims to disrupt the container shipping industry by leveraging the Ethereum blockchain to provide decentralized protocols, tools, and utilities for the exchange of shipment ownership documents (Bill of Lading). The Bill of Lading is a document issued by a carrier (or his agent) to acknowledge receipt of cargo for shipment, that will be registry on the blockchain while providing a way for importers and exporters to exchange those documents digitally, securely and without counterfeit in an open environment.
The CargoX token (CXO) is an ERC-20 token that will be used for sending, archiving, changing ownership, and also as a medium of exchange for logistic services.