Fintech world has developed very rapidly in the last 20 years by focusing efficiency on every social operation, especially internet and information services that provide a variety of unique new services but this also results in various private organizations that monopolize its structure and operations. But even so many parties also tried to break the current system of monopolistic models. With innovations that empower the internet and information sector that try to improve the efficiency of a decentralized environment that is free from full monopolization from the parties concerned. One example that tries to provide dencetralized environment is Function X.
What is Function X?
Function X is a unique new ecosystem where this ecosystem provides us with a fully decentralized internet service framework. With the creation of ecosystems this decentralized service framework will increase the efficiency of internet services and the current Blockchain architecture. By combining the benefits of these two technologies, it will produce technical solutions to the most common basic problems with internet services currently available. By taking a systematic approach to any software or hardware code that allows all existing applications, websites, services to be fully decentralized without any monopoly from any organization or party, using Blockhain technology as its basic basis which makes it solid that will facilitate the development path for the next generation internet.
Pundi X is the initiator and architect of the development of a centralized internet network that is currently being developed, but over time the ecosystems that they have developed will eventually move towards a fully decentralized internet framework. The internet framework consists of various combinations such as the new blockchain algorithm, and a decentralized communication architecture as well as a new decentralized protocol system, resulting in a unique new ecosystem. You can read their decentralized ecosystem concepts details, here: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
The First Blockchain Phone
Just like the topic, besides making a decentralized internet frame they also made the first blockchain cellphone in a decentralized world, by integrating the Function X ecosystem into this phone and will be fully built using blockchain technology. This phone allows us not to rely anymore on the existing centralized internet service providers. Besides this the phone can switch between blockchain and traditional modes quickly, they will only produce 5,000 XPhones by the end of 2019. They are aware that privacy is very important for us and by using Xphones our data will be fully encrypted making it safer.
What is F(x) Coin?
F(x) coin is a native coin that will become the main "currency" that will be used and facilitate various transaction processes contained in their ecosystem. This coin will use the transparent and safe blockchain technology. Users can use these coins for various decentralized services found in their ecosystem. For example, like developers who want to make DApp on their ecosystem or liquidity provider for various institutions. You can visit the page Token on their official website here: https://functionx.io/#/token
Conclusion
Decentralized ecosystems are very much needed in various sectors today, especially for the internet sector and also information. We know that various private organizations monopolize this sector and limit the variety of things that make the existing ecosystem very bad. With the Function X ecosystem that is being developed by them, it certainly provides good news for all of us. In addition, developing the first blockchain phone gives us complete control over each of our data. This is a very revolutionary project I really hope their project will run smoothly.
I think it's enough for now, Do not forget to follow & upvote, I will give some links related to Function X Ecosystem below. Thank you very much!
Website: https://functionx.io
Facebook: https://www.facebook.com/functionx.io
Twitter: https://twitter.com/functionx_io
Telegram: https://t.me/functionx
Concept paper: https://functionx.io/assets/file/Function_X_Concept_Paper_v2.0.pdf
Authored By Pedobear a.k.a Dhemas putra/dhemasm(bitcointalk)
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1049524