Today digital innovative technologies are gaining popularity and application in various areas of people's lives, but there are still few traditional systems, states recognize them as equivalent means of payment and refuse to make transactions and issue loans secured by cryptocurrencies.
The adoption of blockchain technology and the use of digital tokens is almost inevitable and more and more people want to buy them, but stops only a lot of intermediary links that collect considerable commissions for exchange, purchase and sale. We have to take risks when working with centralized exchanges, which do not always provide complete transparent information about their activities and can exaggerate the volume, are subject to hacker attacks, loss of user funds.
The digital market requires simpler tools so that every newcomer can easily and quickly exchange their fiat money for cryptocurrencies, provide them as collateral when using the usual financial services such as lending, loans. Many companies have already experienced the shortcomings of the existing digital innovation, when they exchanged their collected funds for traditional funds.
And to solve all these problems is taken under the name of the project The BridgeX Network!
The BridgeX Network creates a global ecosystem that provides decentralized services between digital and traditional money, facilitating access for many users and eliminating intermediate operations that will save a significant amount of funds and time.
The main goal of the developers of this platform is to ensure that digital assets in the future began to be used equally with fiat money. The network will function with the help of the following three components as BridgeX Core, which is a set of smart contracts that will track the issuance of loans and repayment of payments on them, repayment terms, collect and record all data.
The Bridge Pay module allows you to manage cash, make cross-border payments, manage borrowed funds, convert cryptocurrency to fiat and vice versa. The API allows developers to integrate their decentralized applications and any banking institutions will be able to provide their own services on this platform.
BridgeX platform will be implemented as a decentralized application with a simple and understandable to each user interface and work with three subsections: BridgeLoan - a platform for those who want to expose their funds as loans and put forward conditions for their receipt; BridgeConvert and BridgeSend are modules BridgePay and support the conversion of 30 popular traditional currencies for more than 180 countries.
In order to use the privileges as discounts for various operations on the platform, it is necessary to have BNX tokens, which can be purchased on the ICO. The project has good and strong partners, every day more and more positive news about the adoption of most countries ' decisions in favor of digitization of assets and data, so the BridgeX Network has all the opportunities to become a conduit between traditional and digital services.
I hope my article has brought you useful information and if you want to learn more about this project, its plans, I will leave links to official sources below:
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