CXO/CargoX First of July Mandatory in Egypt
Updated
Hello,
Even with recent price movements of Bitcoin and Ethereum, CargoX ((CXOBTC*BTCUSDT+CXOETH*ETHUSDT)/2) has been able to keep the price stable / rising.
After some analysis I figured the best way to look at its price was via USD as the coin will be bought by business for a set price in dollars.
Egyptian government announcement about CargoX and ACI system: www (dot) nafeza (dot) gov (dot) eg/en/site/aci-details
The upcoming event, Lets look at some numbers:
Egypt has an yearly average container port throughput of approximately 6.5M TEU
Lets take the conservative estimation that import/export is about 50/50; However, this source leans to more import than export:
3.25M TEU Yearly; About every 1.45 TEU requires a Bill of Lading document which costs 15$ worth of CXO:
So about 2.275M BoL yearly with a total cost of: 34.125M dollar.
Currently the whitepaper of CargoX states a 70% burn rate: Thus 23.9M dollar worth of CXO burned every year. Every year. From Egypt alone.
With these estimates CargoX is looking to have a very bright future, together with those who are holding the token.
Please let me know your thoughts about the estimation.
Sources:
Yearly TEU Egypt: www (dot) ceicdata (dot) com/en/indicator/egypt/container-port-throughput
Import/Export: unctadstat (dot) unctad (dot) org/countryprofile/maritimeprofile/en-gb/818/index (dot) html
Price BoL: help (dot) cargox (dot) digital/en/user-manual/documents-and-pricing/pricing-policy/#pricing-example
Burn rate / Bluepaper: (Burn rate: cargox (dot) info/files/CargoX-Business-Overview-Technology-Bluepaper (dot) pdf)
Even with recent price movements of Bitcoin and Ethereum, CargoX ((CXOBTC*BTCUSDT+CXOETH*ETHUSDT)/2) has been able to keep the price stable / rising.
After some analysis I figured the best way to look at its price was via USD as the coin will be bought by business for a set price in dollars.
Egyptian government announcement about CargoX and ACI system: www (dot) nafeza (dot) gov (dot) eg/en/site/aci-details
The upcoming event, Lets look at some numbers:
Egypt has an yearly average container port throughput of approximately 6.5M TEU
Lets take the conservative estimation that import/export is about 50/50; However, this source leans to more import than export:
3.25M TEU Yearly; About every 1.45 TEU requires a Bill of Lading document which costs 15$ worth of CXO:
So about 2.275M BoL yearly with a total cost of: 34.125M dollar.
Currently the whitepaper of CargoX states a 70% burn rate: Thus 23.9M dollar worth of CXO burned every year. Every year. From Egypt alone.
With these estimates CargoX is looking to have a very bright future, together with those who are holding the token.
Please let me know your thoughts about the estimation.
Sources:
Yearly TEU Egypt: www (dot) ceicdata (dot) com/en/indicator/egypt/container-port-throughput
Import/Export: unctadstat (dot) unctad (dot) org/countryprofile/maritimeprofile/en-gb/818/index (dot) html
Price BoL: help (dot) cargox (dot) digital/en/user-manual/documents-and-pricing/pricing-policy/#pricing-example
Burn rate / Bluepaper: (Burn rate: cargox (dot) info/files/CargoX-Business-Overview-Technology-Bluepaper (dot) pdf)
Note
Blue arrows were drawn around 29th of April.Note
Found this on the CargoX reddit, which has a much lower estimate. Let's see how it plays out. reddit/r/CargoXio/comments/nqfr7j/observations_from_the_webinars_for_aci_egypt_and/
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