’Bitcoin is exciting me because it shows how cheap the transactions can be’ – Bill gates
But are transactions on bitcoin/other cryptocurrency really cheap? Are there any constrains to the ease at which transactions can be made?
Cryptocurrency to fiat exchange is a very tedious job, the transaction fees is too high and the processing time very slow. This limits the reach of the cryptosphere. The recent trend has shown investors who buy cryptocurrency usually are the ones who exchange it for other crypto coins. The user base will drastically increase if the cryptos to fiat transactions are made much more simplified. If these transactions are coupled with anonymity of the users and their transaction, this will make cryptocurrency a general norm.
Hawala.today is the solution for these problems that the crypt currencies face. It is an exchange platform for crypto-fiat exchanges that offers P2P exchanges and thus do not store any user data making the process completely anonymous.
(https://www.hawala.today/)
Hawala’s technology
The Hawala platform is built on the Ethereum main network which gives the platform all Ethereum features. This platform will be available on windows/iOS/android etc.
The platform is completely decentralized with no data storage policy on the main network hence the user data will remain anonymous. This ensures security of the data as it is only stored on the user device.
The Hawala wallet allows users to track all their crypto assets and manage their assets with ease and security.
How will Hawala.today implement its mass adoption policy?
The most amazing advantage of crypto-fiat exchange is mass adoption because through Hawala the common man will be able to relate cryptocurrency with money. But how do the developers of Hawala plan to implement this mass adoption?
• Hawala is a very simple platform even for those who are not technologically very advanced. This increases the user base as the details and technicalities more over than not are easily understood by the users.
• The Hawala app will be easily available universally and globally. The user will be able to download it easily.
• Connecting bank accounts/credit cards with the Hawala wallet. This will ensure the easily fiat-crypto exchange and thus further accentuating the whole mass adoption policy.
Hawala’s Platform
(https://www.hawala.today/)
Hawala is a completely privately funded platform. Amidst plethora of ICO’s this platform will not have any ICO. This proves that the investors have confidence on the Platform and they believe in the team.
They will make money by maintenance and development of services. Their token is called the HAT token which will available for all the transactions on the platform. The non HAT tokens (HAWALA token – HAT) will a charged a small transaction fee on the platform.
For US citizens there is a FDIC insurance coverage for their Hawala wallet. The verification of users in compliance of KYC (Know your customer) and AML (Anti money laundering) will be done. This will include user with high volume trade (>600 USD) and the successfully verified users will be called Hawaladars. This will ensure that the Hawala platform is legally strong and will be able to deal with the various firm and obsolete financial systems in most of the countries and hence its expansion will be easy.
The developers of this platform strongly believe that the blockchain technology integrated with cryptocurrency is the future of the current financial system. Their venture is completely funded and is ready to capture the market being the connecting link between real money and the digital currency (cryptocurrency).
Official Website: (https://www.hawala.today/)
Whitepaper: (https://www.hawala.today/blog/HAT_Whitepaper.pdf)
Twitter: (https://twitter.com/HawalaToday)