FUZEX - Moving Cryptocurrencies Closer To Mainstream Adoption As A ...

The global economy has witnessed a meteoric rise in the use of cryptocurrencies in carrying out online transactions. Cryptocurrencies has enabled us to carry out transactions in a safe and transparent environment with the use of a distributed ledger technology which removes the centralization associated with payment solutions and instead replaces it with a decentralized mode of payment which is untraceable and impossible to hack. Cryptocurrencies has also enable enterprises all over the world to build decentralized applications which connects them directly with their end users. These are the major improvements that cryptocurrencies has brought and why it is gaining so much attention by the day.

As much as cryptocurrencies are gaining grounds, some people have also argued that cryptocurrencies can’t be relied upon as a means of payments. Their arguments bothers on the fact that it is quite difficult for cryptocurrency holders to perform transactions as easy as they would have liked simply because cryptocurrencies as of today are still not widely accepted as a means of payment. Currently as things stand, you’ll have to convert your cryptocurrencies into fiat before you can use them to carry out transactions barring some few outlets that accept crypto assets for payment of goods and services. These inconveniences of having to convert crypto assets into fiat is most people don’t see crypto assets as a convenient means of payment.

These usability problems associated with cryptocurrencies is what gave rise to the idea behind FUZEX which aims to make the use of cryptocurrencies as a means of payment more seamless with the introduction of the FUZEX ecosystem.
So today, I’ll be introducing you guys to yet another brilliant platform which brings real life workable solutions to online transaction problems.

Introducing FUZEX – A Decentralized Ecosystem For Easy and Smart Payments

FUZEX is a blockchain-based ecosystem which aims to provide innovative and smart payment solutions with the use of cryptocurrencies. The aim of the FUZEX platform is to make cryptocurrencies e.g. bitcoin, ethereum etc. to be widely acceptable as a means of payment just like money. FUZEX is trying to create a smart economy whereby you can walk into any store, buy goods and services and make payment with the use of your cryptocurrencies or visit any online store and make purchases with your cryptocurrencies. This easy conversion of crypto assets into fiat is made possible with the interaction of the 3 major components of the Fuzex ecosystem (Fuzex card, Fuzex wallet and Fuzex exchange). The team is well equipped with people who have valuable years of experience in payment solutions and blockchain technology to help attain the lofty aim of making crypto assets generally accepted as a means of payment.

So, the question is this:

How does FUZEX aim to achieve this ambitious goal of theirs?

Fuzex Card.PNG

Achieving a cryptocurrency to fiat payment solution is an arduous task which involves several testing and restructuring. FUZEX platform aims to make crypto assets easily spendable with the introduction of the FuzeX Card. This action is particularly helped by the fact that the Fuzex team has previously been able to successfully built and launched the Fuze Card to the market which has over 30,000 credit, debit and reward cards embedded in them for easy payment of goods and services.

What the FUZEX team has been able to do is to build a smart e-card called the FUZEX CARD which has all the features of the FUZE CARD embedded in it coupled with additional integration of different cryptocurrencies. The FUZEX CARD comes with an EMV chip, a dynamic magnetic strip, an E-Paper Display (EPD), three input/option buttons, a rechargeable battery and a charging terminal all of which makes the transfer of cryptocurrencies into fiat a seamless process thus making cryptocurrencies easily spendable anytime and anywhere in any part of the world. All what you need to do is connect your credit cards, debit cards and your cryptocurrency wallets to your FUZEX CARD and start making payments for goods and services. Isn’t that awesome? I sure think it is an absolute piece of genius and I can’t wait for the platform launch. The FUZEX CARD also comes with 2-Factor authentication which makes this card highly secured and impenetrable by hackers.

How Does The FUZEX CARD Work?
Fuzex Transaction.PNG

Step 1:
The user is expected to download the Fuzex Wallet and set up his/her account. This involves the user creating an account on the Fuzex exchange and ordering for his or Fuzex card.

Step 2:
The user can then take his/her Fuzex card to any shop {Offline or Online} and make purchases by selecting any cryptocurrency of his/her choice using an in-built button on the Fuzex card.

Step 3:
The user is then presented with their cryptocurrency balance alongside the fiat value which is given according to the real-time exchange rate.

Step 4:
The user then hands over his/her Fuzex card to the seller who is expected to swipe it for payment of goods and services. The seller’s POS terminal then sends signal to the relevant Issuer to verify the user in order to authorize the payment via the EMV payment networks. At this stage, the issuer (which is expected to be integrated with the Fuzex exchange) then checks the user’s account if he/she has enough cryptocurrency funds in fiat equivalent using the Fuzex exchange. In the case that there is sufficient funds in the user’s account, the Issuer authorizes the payment But if there is no sufficient funds in the user’s account, the payment request is rejected.

Step 5:
The merchant then receives payment feedback accordingly and payment is complete.

Step 6:
The final step in the transaction process sees the user receiving a summary of the transaction detailing the amount spent and the quantity of goods bought. It must be noted that any transaction exceeding $300 would require the user’s approval.

These are basically the easy steps that FuzeX has developed to help anyone from any part of the world make payment for goods and services using their crypto assets. Cryptocurrencies will no longer be inconvenient to use as a means of payment with the introduction of Fuzex novel smart e-card. This encourages wider adoption of the use of cryptocurrencies and also makes online transactions as smooth as possible. Fuzex entire ecosystem is designed to be beneficial to all parties involved (users, merchant and partners).

Team
The team behind Fuzex consists of highly skilled professionals with years of experience in payment solutions, software and hardware development and blockchain technology,