2017 saw a massive increase in awareness of cryptocurrency thanks to the huge increase of Initial Coin Offerings (ICOs). Investors swarmed the numerous new coins available, making it the must-have investment product of the year (well, up until the end that is.) The reason for its success and failure as an investment tool is due to the simple fact that the coins were meant to be used in daily life – all that was missing is the infrastructure needed to make it easy.
Yet The Current System Doesn’t Work
However, there are two issues surrounding utilizing cryptocurrency in daily life. The first is that few retailers accept cryptocurrency at all. The second is that those who do accept these digital currencies typically only accept one out of the dozens of varieties available. Meaning it is possible to have a fortune of cryptocurrency in your pocket and be unable to spend a single penny of it. Bitcoin, Litecoin, Ethereum, and more are being actively traded every day with new coin systems being minted just as quickly.
With an estimated total market capitalization of $660 billion, there is a great deal of opportunity for ICOs to help spur the next stage of consumer spending and economic growth, but ICOs will have to bridge the divide between digital and physical.
How can we solve this challenge? Take MoxyOne, for example. It was founded with the simple goal of providing the infrastructure needed to help ICOs make the transition from an investment vehicle to viable currency. For its part, MoxyOne provides white-label services for companies seeking to offer a complete cryptocurrency solution for their investors and clients. This includes a “banking” solution that makes spending the coins as easy as swiping the provided debit card. Beyond working with other coin platforms, MoxyOne is also offering its own cryptocurrency known as SPEND tokens, offered for distribution through the respectable Cryptopia exchange platform.
More platforms are coming soon, as well. MoxyOne’s Exchange Listing Consultant Rick Kennernecht is working to secure new partnerships with a wide variety of exchange platforms such as EtherDelta. Recent successes in this endeavor include a partnership with the Decentralized Social Networking Platform Social (SCL).
How to Integrate Digital Wallets with Physical Debit Cards
By using the latest in digital wallet technology, MoxyOne has made it possible to securely handle transactions worldwide wherever debit and credit cards are accepted. All the end-user needs to do is install the app and activate the card – from there it is as simple as managing a traditional bank account, without the fees.
This works through the implementation of Just In Time Funding (JITF) which allows for the instant sell of cryptocurrency into the required traditional currency as the user spends it. This means that the greatest hassle involved in modern cryptocurrency – using it in the real world – has been eliminated in a way that is completely seamless for the end-user. The only fee incurred is the traditional platform exchange fee built into all cryptocurrency platforms.
This platform will be released in early 2018, with a pre-sale beginning February 8, 2018, and ending on March 10, 2018. The public ICO starts March 14, 2018, until April 14, 2018. MoxyOne will leverage Raiden Network’s micropayment technology for speed and Gladius’ DDoS technology for stability and overall security. Long-term goals will include integrating with the COMIT network for increased blockchain interoperability and overall access.
In addition to JITF, we enable individual organizations and buyers to obtain the cryptocurrency directly from the holder. In addition to receiving the coins, a number of extra tokens will be provided to cover any extra expenses. This will help grow the platform and incentivize end users to utilize every feature of the MoxyOne platform.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.