Faxport is the name of a blockchain network that has settled their business platform based on the sports service. The organization utilizes the advantages of the blockchain for having decentralized sources of encryption. It enables an unalterable and free form of a need for the centralized trust of organizations emphasizing on the usage of the business in terms of investing in such platform of sports. The ecosystem is trying to solve all the challenges that the platform faces to develop the global sports market with a goal to raise the user retention. For analyzing the market it also requires to identify the weaker points of the market and to deal with that according to the choice.
Trust
It is the first weak point that the industry often deals with. The internet has made a robust sports industry with immense of influence through multiple channels to transmit the contents of the users. According to a survey report from 2016, it has figured out that around 40.9% of surveyors have replied about the lack of trust and integrity in sports management and they are worried about the fact. This may lead to the greatest danger to the sports industry for continued erosion of trust among the management of the sports organizations, athletes, and the enthusiasts of the sports. Even if the sports industry creating cooperating with the transitional to become trans-nationals, there will eventually have no other way of providing absolute guarantees for credit verification. Receiving the important data from one central platform may lower the risk of both data and credit and the transaction process also requires some optimization to make it easier for both the parties in order to ascertain trust.
False Reports
The mass usage of internet has lowered the cost of copying, altering and sending false information. These issues may lead to some unclear business module and therefore, it is a must to verify the truth in alteration of records of falsification for some frequent incidence of such fraudulent activity.
Service Charge
All the endorsed centralized platforms have the ability to manipulate data and content from other platforms. It may owe to mismatch of information with huge commissions and service charges with a command over centralized intermediary of platforms having a greater proportion of revenue. As long as the degree of centralization goes, the commission and service charges rise according to that.
Foreign Exchange Fees
The rate of foreign exchange also increases potentially and the fees for the transaction also go higher. This also becomes a weak point in the market that keeps waiting for a longer period to prove vexing in the transaction.
Low Level of Information
The sports industry has a specific amount of market presence on the global market scale and this obtains the accurate and authoritative data to secure and immune the system from the interference of attaining participations. This will facilitate the ability for ensuring the veracity, accuracy, and completeness of the information and obtainable resources.
As per the sports service industry is growing, it is creating a greater room for Faxport to establish the business. In some economically mature countries like North America and Western Europe, it comprises with the gross output value for 80% of the entire sports industry. Still, it is introducing some areas to grow the global sports industry in other countries as well and therefore making connections with them. This will ultimately lead Faxport to have a sustainable expansion and growth.
Website : https://faxport.io/
Whitepaper : https://faxport.io/other/Faxport%20Whitepaper%20en.pdf
ANN : https://bitcointalk.org/index.php?topic=3247514.msg33816620#msg33816620
Telegram : https://t.me/Faxportglobal/