Cryptocurrencies development are progressing with very fast with each year. But still, many people can’t recognize cryptocurrencies as “money”, even if they are appropriate structure to become so. There are still many problems with transferring them into fiat, or to make payments with them, this is why many people still don’t want to own cryptocurrencies.
Today, we’re going to review one project, that aims to solve this problem! I’m speaking about FuzeX Ecosystem! It includes several services like Own card, Wallet, and Exchange, all of them coming with new technologies for improving the interaction of customers with the platform.
FuzeX Card:
FuzeX has developed, presented, and already sold and delivered about thirty thousand cards. With help of this card, you are able to deposit and storage many types of cryptocurrencies and also fiat funds. From the design point of view, it is like a normal card, thick and with identical size like others cards. But the most interesting features of these cards are inside. FuzeX is providing us a new technologies cards which will contain this features: EMV chip It will be used for multi-cryptocurrencies payments. Dynamic Magnet Strip Used for making payments. E-Paper Display allows to verify your balances, to scan a QR code for addresses or reward cards. Three buttons for Input and Output Used for introducing the pin, browsing through the system and to authorize payments by itself. Making payments without using a smartphone. Rechargeable Battery and a Charging Terminal One battery charge will keep about 45–60 days. For recharging it, a small power bank will be provided. Bluetooth For the connection between the Card and the Wallet.
Due to the high demand of using smartphones, a 2-factor authentication will be available to set for avoiding fraud cases. Also, the connection security by FuzeX Card and FuzeX Wallet will be provided by private keys.
FuzeX card opens to us many opportunities comparative with a normal card, which makes the use of it more comfortable and pleasant. FuzeX Wallet:
FuzeX Wallet will allow its user first, to make basic operations like the keeping, deposit, and transfer funds.
Also, it will have a lot of features that are described below: Customers will be able to pass KYC for the entire platform. Opportunity to keep different cryptocurrencies, transfer and exchange them. Check trading rates, account balances, and all your transactions. Till your card is connected to Bluetooth, you can track the card location with the help of a map. 2-factor authentication.
FuzeX Exchange:
The main goal of FuzeX Exchange is to allow people to make transactions and pay for services like with a normal card, but at the same time, using cryptocurrencies. For merchants side, it is the same due to the fact that they will receive the payment in fiat. Paying with cryptocurrencies, they will be automatically exchanged with the actual trading rate.
To realize all these opportunities faster, FuzeX will co-operate first with already existing cryptocurrency exchanges, for which FuzeX will have a great proposal of increasing their user database. During the developing process, FuzeX will build their own Exchange.
Advantages of the Exchange:
Everyone is able to hold and to exchange his funds from cryptocurrencies or inverse. It rates depend on from the market rate For the safe of users, a transaction will be made only after passing through 2 of 3 confirmations. Bequest Payment Networks will be integrated on the platform. The payment will be confirmed only after such services like Visa or MasterCard will confirm the needed account balance in cryptocurrencies or fiat. If the customer will lose its access to the account, he/she can make a new one and will receive all funds from the previous account by using the mixture between Exchange Key and Isolated Key.
Steps to becoming a member of FuzeX Ecosystem:
- User downloads the Wallet app, get registered and orders a card.
- User deposits the selected amount from other wallets or exchanges to its account.
- After receiving his/her Card, the user will activate it through the Wallet app.
How to use FuzeX Card?
First of all, you need to set up the desired currency for payments with the help of three buttons that are on the card. Before making payment, the user will see the actual balance of the desired cryptocurrency and the equivalent in fiat that is sent directly from FuzeX Exchange. Now, all it’s ready for the payment itself, which will be held by inserting card in POS or swiping with the magnet band. After the payment is approved, the merchant will receive its money, and the user a summary on his/her Wallet App.
After user will confirm the payment, all information about it will be transferred intro Exchange.
This Exchange has 2 important functions:
- To ensure the customers will be able to pay using cryptocurrencies, in this case, the company task is to convert crypto-funds into fiat and to transfer them to the merchant.
- To sell other exceed cryptocurrencies that were accumulated on partner exchanges.
Conclusion:
FuzeX aims to become a global platform which will help people to start using cryptocurrencies. With the help of FuzeX network, people will be able to pay using their crypto, and more other, there are new technologies implemented that will make a user-friendly interface and easy to use. I would like to mention that this article is only the opinion of its author, before investing, kindly study the White-Paper of any project and take decisions by yourself!
Thank you for your attention and till the next reviews!
References:
Website: https://fuzex.co/
Telegram group: https://t.me/FuzeX
Whitepaper: https://fuzex.co/wp-content/uploads/2018/01/FuzeX_whitepaper.pdf
Author: dn3
Profile link: https://bitcointalk.org/index.php?action=profile;u=2237720