Good day everyone! Today I want to talk to you about the FuzeX project.
When we were just starting to learn the basics of the crypto world, we did not even think how to withdraw funds from the cryptocurrency into Fiat money in case of successful investment.
It was important for all to successfully enter the position and exit with a profit, only then there was a painful question of withdrawal. Basically, experienced people who have long been familiar with cryptocurrency know all the nuances of withdrawal with the lowest сommission and maximum security. They often use exchangers or bots in a telegram, and some people try to exchange cryptocurrency in person at the airports at their own risk.
As they say: "He who doesn't risk never gets to drink champagne".
But this is quite inappropriate in this area, because the blockchain was created to give anonymity and security to all transactions.
And what if we get rid of the problem of withdrawal of funds finally and use the cryptocurrency to pay for everyday needs in real life? This is now possible thanks to the FuzeX project.
Yes, of course, watching the video you say that it is impossible to imagine in our country. So far, this is so, unfortunately. Due to the uncertain status of the cryptocurrency, its use is very limited. For example, mining has a more specific status, as it is easy to determine who is doing it and to introduce a tax. Unfortunately, many governments categorically refuse to follow the path of technological progress, but I am sure there will be changes over time.
Fortunately, in the Eastern countries it is a common thing and many stores have long accepted cryptocurrency as payment for goods, so that this there is no surprise.
FuzeX card
Externally, the card is no different from the usual debit cards, but if you look closely, you can see a number of things incomprehensible to the eye.
The picture shows that the FuzeX card has a display that shows the balance of the selected currency. But there's more. The card has a control panel that consists of three buttons, an EMP chip, a magnetic strip for reading, battery and charging!
It is important to note that the FuzeX developers have already implemented more than 30 thousand crypto cards and their number is growing every day.
What are the benefits of the card?
- The card is able to manage up to 30 of your accounts at the same time including debit, credit bonus and, of course, cryptocurrency cards.
- Electronic EPD display shows the status of your balance. It can also be used to read the bar code of the bonus card and the QR code of the blockchain address.
- The EMV chip is used for cryptocurrency payments.
- The control panel with built-in buttons are used to turn on or off the card power, enter your pin code and to confirm the payments themselves.
- The connection between the card and the FuzeX wallet via Bluetooth. If there is no connection to the card, then the owner has an additional secure way to block the card through the wallet.
- You can also remotely clear the card data.
- Surprisingly, the battery reserve is enough for 45-60 days.
- Possibility to use the card for credit and debit payments via "Near Field Communication" (NFC). To do this, you need to connect these accounts to the FuzeX system and easily repay the loan debt.
- The card also has a battery.
- The card has two-factor authentication to increase security against theft.
FuzeX Wallet
This portable cryptocurrency wallet is the most important link in the management of the entire system.
It serves for all operations related to the exchange, receipt and sending of cryptocurrency in the FuzeX system. In order to use the wallet, the user must pass the KYC, as only authorized users can access the use of the wallet and card. You can also view real-time currency rates and the history of all transactions.
There is an important function in the wallet in case of loss of the card.
This is an interactive card showing your last payment (before turning off Bluetooth). This is very convenient if you forget where you paid last time.
Of course, the developers have taken care of the security of the system. They set up a two-factor authentication consisting of a card pin and a wallet password.
The app is already available for download on iOS and Android.
Fuzex exchange
The FuzeX exchange is the main link in the system.
The exchange is designed to convert cryptocurrency into fit money at the current rate in real time.
It is protected by three types of security keys-a user key, an exchange key, and a recovery key. The transaction will occur only when the user provides the system with two of the three types of keys.
The exchange integrates with conventional cards such as MasterCard and Visa to verify the FuzeX card balance in the Fiat equivalent when making a payment through the terminal.
The exchange is used to confirm the user's choice of cryptocurrency specified during the payment.
If the user has lost the key, then he needs to pass the KYC again and create a new profile in the wallet, as well as a new user key. In order to transfer the cryptocurrency from the lost profile to a new one, you need to enter the key from the exchange and the recovery key.
Technological process of payment
If you want to become the lucky owner of the FuzeX card, you need to make a few simple operations. First, you need to install a mobile application and create an account to join the exchange, then transfer the KYC and wait for delivery to your residence address. You need to activate the card upon receipt. To do this, you need to replenish the card with a convenient cryptocurrency, for example, using a MEW wallet or bitcoin address. And forward to make purchases!
To make a full purchase in the store you need to make sure that the card has enough money.
Then you need to give the card to the seller. He will insert the card into the POS terminal to send a request to the appropriate Issuer, who will instantly check your cryptocurrency balance in relation to the fit money using the FuzeX exchange.
The payment will be made If funds are available. The entire operation will be saved in the history of your wallet.
FXT token
The developers want the fxt token to become the main cryptocurrency for conversion to Fiat. To do this, they strongly encourage users, giving them some privileges, for example:
if you are the holder you can order the card for FXT tokens;
You will receive an additional limit on transactions. The limit will depend on the number of tokens stored in your account;
Each cardholder must pay a certain amount for the use of the card once a year. The annual fee will be less if you are the holder and plan to pay the annual fee with FXT tokens
Команда
More information about the project team on the website https://fuzex.co/
The core development team consists of experienced professionals in programming, marketing, business management, and blockchain technology.
The team has already received high recognition in the Republic of Korea for the work done.
The team plans to build a global service ecosystem FuzeX and enter into partnerships with a variety of sectors of the economy, such as medicine, public transport, air transportation, hotel business, real estate, legal services and others.
The Conclusion: FuzeX is a real project which is already used by a huge number of people. Given the fact that the project token is already being traded on exchanges, we can safely say that the developers have a goal to increase their influence in the Asian market. I have no doubt they will succeed. However, the main problem for them is centralized regulators, which will try to prevent them, but in any case, progress will win.
More information
Official site: https://fuzex.co/
Whitepaper: https://fuzex.co/wp-content/uploads/2018/01/FuzeX_whitepaper.pdf
Telegram channel: https://t.me/FuzeX
Twitter: http://www.twitter.com/fuzex_co
Facebook: https://facebook.com/fuzex.co