According to research, the finance industry is one of the prime sectors set to witness the disruption of blockchain technology. This can be attributed to the distributed and encrypted digital nature of blockchain with the ability to provide a decentralized, swift and transparent means for transactions while maintaining high-level security. Due to this, there has been a paradigm shift to cryptocurrency involvement into the banking and financing sector.
The traditional banking system is too clumsy. For example, it takes an average of about 1-3 days to consummate an online international transfer, and even in some cases, it could go beyond 3 days. In addition, customers are faced with having to deal with high transaction fees when using their credit cards for payments. Having realized this, several blockchain companies have since launched their own digital currencies to address these issues, because it is believed that cryptocurrency can help put an end to these issues. Despite this, only a few of the cryptocurrencies have been able to lessen international payment settlement time to a near immediate brink. However, due to the influx of new participants in the crypto sphere, slowness in operation is still being experienced.
It is therefore evident that traditional international payment and its processes are in need of a total overhaul. Having identified the issues, Nexty aims to leverage on blockchain technology to provide a secure enabling environment for electronic international payment. Nexty's aim is to remove the bottlenecks associated with international payments and make like easy for everyone.
WHY NEXTY?
Currently, the crypto ecosystem seems monopolized as the likes of BTC, ETH, XRP are the major cryptocurrencies being used for payments. Due to this, users usually experience several transaction delays and even in some cases, transactions don't get processed. In addition, users also have to deal with paying high transaction fees if they want their transaction block processed in time. This has further created a lag in the system. However, Nexty aims to bridge this gap because, with the use of Nexty platform, users are guaranteed to experience instant transaction processing, zero transaction fees, and enjoy price stabilization. Below shows the difference between Nexty and other cryptocurrencies.
NEXTY APP
Users can securely send and receive NTY tokens swiftly using the app.
In order to further create the much-needed environment, Nexty utilizes an ethereum open source and PoF consensus algorithm. Also, the Nexty platform makes use of Dual Cryptocurrency Confirmation System, meaning it uses two different types of cryptocurrencies (NTY and NTF), each with its specific function, to fuel the Nexty platform. The NTY is the principal token of the platform and is a utility token used for daily transactions. However, its counterpart which is the NTF is used to affirm transactions.
The NTY token is already listed on the Idax exchange and users can proceed to https://idax.mn to purchase it.
SUPPORT STRUCTURE FOR STARTUPS
Many fintech startups fail to actualize their ideas due to lack of finance and required resources. Due to this, Nexty aims to provide support for such start-up fintechs. To achieve this, it will assist them in raising funds from the populace. However, before releasing funds to them, they will be thoroughly assessed to ensure they're qualified.
Also, Nexty aims to release its REST APIs to enterprises in order to enable them to integrate with the Nexty platform. Upon successful integration, the companies will be a part of the Nexty ecosystem, enjoy its services and also adopt Nexty as a means of payments.
Kindly visit https://nexty.io/ for more information.
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Writer: Sucre123456
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