Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

Use case vs. centralization beyond use

It's that time of the year again: For me to talk a little bit about CargoX.🫣 It's been over a year now since they radically changed things which prompted me to write a piece on it. There have been a lot of developments since then, so here we go:

To start off, I no longer hodl any CXO. Yes yes shame on me. I truly believed in it but due to sheer neglect and carelessness towards the community, the crypto world and it's hodlers I eventually weighed in on my involvement and decided to trade the tokens back to ETH and BTC some time ago. Let's start off with the obvious: A while after I dumped my CXO, Kucoin for some reason (again) tagged the token with the infamous ST (special treatment) flag, meaning the asset was under close review and at risk of being delisted. This wasn't the first time Kucoin had done this, and since IDEX and the few scarce other exchanges that listed CXO either also delisted it or were no longer around themselves, Kucoin was the last place CXO was easily (cheaply) accessible. Sadly enough for both the token and IMO crypto world altogether, CXO was this time officially delisted and afterwards Uniswap was the last place the token could be traded. Kucoin never explains the reason for this flag or eventual decision to delist, but everyone seems to be certain "it's that low volume thing again" which CXO was plagued with ever since people started dumping the token after the paper update.

The reason I say this is a loss for the entire crypto world is because like it or not, CargoX still has very unique potential and the blockchain/logistic combo is an undeniable win-win situation for both worlds. Just read this recent report on the world's first eBL transaction.

"An unprecedented global trade event concluded on October 25, 2022, at 21:23 CET as interoperability between two competing electronic bill of lading (eBL) platforms, CargoX and edoxOnline, enabled the transfer of an eBL...An electronic bill of lading..., is a digital version of a traditional paper bill of lading, a document used in shipping goods by sea, air, or land. The main difference between an eBL and a paper bill of lading is that the former is created and stored electronically, using computer systems and networks, rather than printed on paper....The interoperability proved successful as it enabled a secure, rapid and efficient transfer of title documents between parties using different eBL platforms, unleashing powerful velocity and efficiency for global trade and the entire shipping industry...a study on trade digitalization, concluding that eBL could save $6.5 billion in direct costs while allowing $40 billion in global trade by streamlining trade documentation, a paper-intensive and resource-consuming process."

Without exaggerating, we could be witnessing the ground breaking first steps in the global cargo industry and it's CargoX who has front row seats. But do your CXO tokens also buy you a seat next to them on the front row, or are these tokens which you can barely trade anywhere since they have no appeal to hodlers and literally no use case on their own anymore after the blue paper, as good as an IOU some kid from elementary school gave you after he kicked your ball on the roof? (I know all this can be confusing, so if this is new to you and you'd like to understand the situation with CXO a bit better, be sure to read the first article)

So, I guess based on my actions you already know what I think CXO tokens are worth. I mean, just the fact I have to trust upon a centralized command and "CEO" is sooo contrary to what crypto should be about and how Bitcoin itself started. But still.... Gawd, this is the part I hate. The doubt, the worry, the "what if" that starts floating around in your mind. I know better, I know I should steer clear of CXO since there is absolutely no reason, no use case and no guarantee the CXO team will stay true to their word and not leave CXO hodlers out in the cold with mere worthless digits on a screen in their ETH wallets while they themselves take off and cut off the last few links between themselves and the crypto world and focus solely on global logistics and eBLs. But that still doesn't mean that they will....😵‍💫

Honestly, I don't know what I'll do, maybe some day if I haven't missed the (cargo)ship, I'll jump back aboard. I already know I shouldn't, but the fact that it's crypto and one of my most highly regarded links to real world use cases (i.e. logistics), I think the temptation will eventually be too strong, especially in this bear market.

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Geo-Political & Economical developments
Geo-Political & Economical developments

Things are almost never as they seem. If you sincerely think that world powers would spend their money and resources in order to just "help" citizens from foreign nations, you might want to ask yourself why they've been neglecting and out right murdering their own citizens for decades. What are their true motives for wanting to fund foreign (terror) groups, start global confrontations and wars? I'll let you in on a little secret; It has NOTHING to do with "human rights" nor "democracy".

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