The BridgeX Network - financial ecosystem framework, built on a proprietory technology core
Hello everybody! Todays topic is going to be the BridgeX Network project, which is about the credit sphere. As I see it, this platform will combine the crypto term and the fiat world. Lets take a closer look.
The designers describe their project as a structure for a financial ecosystem of the decentralized credit. Ill explain in simple words: BridgeX Network helps any person to take a credit. It simplifies the process, because the bank is a mediator and can decline the credit for some reasons. The perfect solution is to remove the bank and its intermediary services. Sounds interesting, doesnt it?
By the way, the credits on this platform will be given in crypto currency, but the designers added the possibility to convert it into fiat currency. In my opinion, such a solution is quite convenient for every user. People will be spending less time working with conventional financial structures.
Let's go further to the problems and solutions for them. The most obvious and essential problem is connection between crypto and fiat currencies. So the designers created several ways to solve it. Every next step made it possible to solve the cooperation issue.
1. The token bearers will be able to use the crypto currency as a guarantee to get a credit pack.
2. Fiat currencies will become available for all the crypto currency bearers thanks to special borrowing tools.
3. The currency convertion is done by the BridgePay module.
The functional of the module deserves telling about, because it includes quite interesting features.It gives the opportunity to send the proportional to financial assets amount of crypto currency to beneficiaries.
It also has a respectable immensity. More than 180 countries can use BridgeX Network at the moment.
The most interesting thing that users might appreciate is the lack of interest rate. Because no matter how little the rate offered by banks is, nobody wants to pay extra money. The project solves this very problem and also takes a tiny fee for any kind of transaction. I guess the interest to the platform increased after this information was published.
One more advantage is lack of mediators. In many spheres, they are unnecessary, especially when it comes to big financial transactions. It's good news that there won't be any third parties.
All the processes are under the main core BridgeX control. DApps and Apps have a module to let all the system elements work together and be a single whole.
To simplify this information, the platform is based on the blockchain technology, and the exchange and converting process are supported by BridgePay.
In my opinion, if the project uses smart-contracts, the functional and trust to a project increase a lot. For those who do not know, smart-contracts accomplish an assets exchange function without third parties.
Token name: BXN
Total amount of tokens: 1 000 000 000 BXN
1 BXN price: $0.0103
Hard cap: 18 000 ETH.
40% - public sale
20% - team and advisors
15% - partners
15% - liquidity pool
10% - investment reserve
Now we've got a really good solution for the lending related questions. The lack of mediators means that there's no room for cheating at all. The currency converting is a breakthrough indeed. Next year the project will launch all the APIs, and then banks are going to have a real rivalry. So keep an eye on the project and stay tuned.
Official links to the BridgeX Network project:
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