I wrote a post comparing between TenX and one of its closer competitors. In this post, I thought it best to take a step back and review TenX as a whole. I think it is a good idea to take a look at the project and what they stand for. I hope that through this post, you can get a better idea of what TenX does and who they are. Hopefully, you may see why TenX may just be one of the many catalysts in encouraging the adoption of Cryptocurrency by the masses.
What is TenX?
Like all projects, I think that their whitepaper often offers a clear view as to what they stand for. I was rather thankful to find that one statement in TenX's whitepaper that summarizes their philosophy as a whole:
"At TenX, we work on making any blockchain asset spendable instantly."
The statement summarizes the project as a whole in what they hope to achieve. That is, they hope to create the infrastructure as well as a means for users to spend their cryptocurrencies instantly, bypassing the wait time and potentially high fees. In order to achieve this, TenX has been focusing on two aspects, the card/wallet app to spend your crypto assets and the infrastructure to support it.
Many of us know TenX by their cool, sexy looking card. The card can be paired with a wallet app. This comes in handy if you are travelling and this gives you a peace of mind. I for one would be rather worried travelling with a TenX card in my pocket. Imagine losing all your valuable crypto assets if you have your card stolen. As such, the wallet app has a card lock feature that will keep your crypto assets safe. Just don't let your better half get a hold of your card and wallet app, if you know what I mean =)
However, some have seen the TenX card as an unfulfilled promise by TenX. The TenX card was released back in January 2018. With some issues with their card supplier, the issuing of the card has been temporarily halted. While this has definitely caused some uneasiness among its customers, TenX is finally getting back on track. In recent months, I find that they are taking things a bit slower now. The picture below is a recent post on TenX's twitter account. It seems that they will be shipping to a few countries first around Singapore before focusing on EU countries.
Their other recent post on card related matters indicated that they have begun shipping the cards to their internal team members. The reason given was to ensure that the entire process is streamlined and tip-top. Thus, I find that TenX has taken a rather cautious and somewhat slow stance, taking extra measures to make sure that there will be no mistakes. However, it is my opinion that they should get their card out faster to avoid any more customer backlash.
The infrastructure aspect of TenX consists mainly of their COMIT Network. COMIT stands for Cryptographically-secure Off-chain Multi-asset Instant Transaction network. The COMIT network's main selling point is a network that offers a cheap, instant and global payment solution. If you go a bit deeper, you will find that COMIT aims to achieve this by functioning somewhat like an internet where information is exchanged from one point to the other, forming the backbone for different companies and platforms to transact. This is how TenX aims to connect its wallet app directly to the COMIT network. With COMIT, TenX will be able to pull off fast, cheap and global payments on their cards. As such, I have the highest confidence in TenX ability to be successful despite their card problems. Aside from their card and projects, I believe that TenX will be able to succeed because of their stellar team.
Who is TenX?
I spend a lot of time reading up on buying into cryptocurrency projects. One common aspect that many bloggers or Youtubers would encourage a buyer to look at is the team. The truth is, no matter how great your project may be, its success depends mostly on your implementation. Thus, to ensure that the implementation goes well, you will need a stellar team to get it done. A great team is usually a good balance between experience and academics. Too much of either experience or academic knowledge may create some form of bias when it comes to decision making. However, having both is invaluable to any project.
The founders of TenX perfectly embody this. Two of the founders have doctorate degrees while two others have experience in various industries. Dr Julian Hosp has a medical degree while Dr Micheal Sperk has a doctorate degree in bioinformatics. Dr Julian Hosp in particular has a stellar career as founder of polymath and TenX. Both cryptocurrencies are in the top 100 coins list on coinmarketcap. Furthermore, Dr Julian Hosp is a speaker for the Washington Speakers Bureau, an exclusive group of the most influential people in business and politics. As he is rather sought after as a speaker at different events, he has a great deal of influence over matters related to cryptocurrency. This would translate well in helping the project gain some buzz. Furthermore, he is known to be a great leader in cryptocurrency projects.
Another notable member of the TenX team consists of Paul Kittiwongsunthorn who is on the teaching team of ME310, a design and innovation course at Stanford university. This course is known to bring new design ideas and innovation to companies such as NASA and Deutsche bank. Paul Kittiwongsunthorn, like Dr Julian Hosp is also a sought after speaker at Fintech events.
Conclusion
I hope that you will see that with a great project and a great team, TenX has a rather promising future ahead. I would also like to point out that they are rather transparent with their finances. Reports are given out on their twitter page and with the amount of money that they are dealing with, they could have chosen to not disclose it. However, they are transparent with where the funds are and they have been reporting the progress of their card rather frequently. As such, I still think TenX is a great project. If you would like to know more, do head over to their social media accounts and website. The links are listed below.
Site and Social Media Links
· Project Website: https://tenx.tech/en/
· Products & Services: https://tenx.tech/en/wallet and https://tenx.tech/en/card
· TenX Team: https://tenx.tech/en/our-team/
· TenX Story:
· TenX Official Chat: https://chat.tenx.tech/home
· Facebook: https://www.facebook.com/tenxwallet/
· Medium: https://blog.tenx.tech/
· TenX Twitter: https://twitter.com/tenxwallet
· TenX Instagram: https://www.instagram.com/tenxofficial/
Sources
Disclaimer:
Many of the findings here are researched but are based on my own opinion. I welcome any debate and discussion but I am no financial adviser. As such, always do your own due diligence before selling your kidney to invest in anything.