Without doubt blockchain technology and the advent of cryptocurrency has been one of the greatest inventions over the past decades. The numerous features of the technology make it an ideal means of boosting efficiency, transparency, accountability, and transactional performance. Regardless of the huge attention bitcoin surge in price brought to the cryptocurrency market, the cryptocurrency eco-system is still lacking in some services available in the conventional system of the world either due to the absence of requisite regulations or the fact that the traditional finance system considers cryptocurrency as a threat.
Nevertheless, for the cryptocurrency market to be considered established, securing services such as bankability of crypto assets, improved exchange services with compliance to regulations, diverse investment options, and exposure to a host of finance tools is imperative.
Introducing Azbit
Azbit is a blockchain platform designed to provide a one of a kind service for the cryptocurrency community. Azbit seeks to provide a host of financial services for blockchain enthusiasts which notable cryptocurrency platforms have failed to render either due to lack of Liaison with the traditional finance world, disregard for jurisdictional regulations and inefficient services. The Crypto community is continually yearning for banking service, exchanges with improved functionality, multi-support for diverse fiat currencies and security tokens, and lastly readily accessible investment opportunities for all and sundry. Azbit solution brings all this to the table in a regulatory compliant environment designed to provide user convenience and financial productivity.
Core Features of Azbit
- Regulations are one thing the crypto eco-system has to come to accept in order for mass adoption of blockchain technology to ever take place and one of such regulatory mechanism is the Know Your Customer (KYC) and the AntiMoney laundering (AML) processes. Carrying out multiple KYC/AML processes on different platforms can be cumbersome and also costly for the operators of these platforms to institute. The Azbit platform institutes a unique identity system in which the AZbit.ID can be used across various platforms in sync with Azbit and this will facilitate fast and secured user authentication.
- Bankability remains a major challenge in crypto till date which even the notable cryptocurrencies have failed to resolve. Azbit aims to provide traditional financial services for all and sundry in the cryptocurrency ecosystem and give the crypto community its first fully functional banking platform which will boast of account services, fiat payment services, issuance of debit cards and contactless payments options and lastly cryptocurrency backed P2P loans.
- The Azbit solution includes a hybrid exchange setup that features both a centralized exchange and decentralized exchange infused into one platform. The Azbit exchange will also feature crypto to crypto trading, crypto to fiat trading and also security token trading. Majority of the exchanges in crypto lack the requisite compliance to regulations needed for trading security tokens and with the security token offering mechanism growing in popularity, Azbit provides the much-needed exchange where these precious digital assets can be traded in a secured and legally compliant environment with a wide range of tools. Asides from trading, Azbit also provides investment opportunities for crypto enthusiasts in the form of share trade accounts, copy trade accounts and lastly portfolio management accounts.
- The AZbit platform utility token is known as AZ and is issued based on the erc-20 standards of the ethereum blockchain with a maximum supply of approximately 401.5 million tokens. AZ token is backed by shares of the Azbit AG Company, hereby making holders of the Azbit tokens automatic shareholders of the platform. AZ can also be used to pay banking fees, pay for marketplace products and lastly to gain access to discounted rates on exchange fees and investment platform fees. The AZ token is currently available for purchase in an Initial Coin offering scheduled to end on the 30th of June 2019. The diagram below shows the allocation of AZ tokens.
Conclusion
The Azbit project seeks to provide a one stop shop solution for the crypto eco-system in a much needed legally compliant but yet user convenient and effective environment. With the strong team of professionals behind the Azbit platform, there is no doubt the platform will attain great heights in the nearest future.
For more information on the Azbit platform check out the following channel.
Website: https://azbit.com
Bitcointalk Ann Thread : https://bitcointalk.org/index.php?topic=5025592.msg45479926#msg45479926
Whitepaper: https://cdn.azbit.com/docs/en/whitepaper.pdf
Telegram: https://t.me/azbit_com
Twitter: https://twitter.com/azbit_news
Facebook: https://www.facebook.com/azbit.new
Author's details :
BTT name: Mrsparks
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=1197564;sa=summary