FUZEX: THE BLOCKCHAIN-BASED PAYMENT ECOSYSTEM WITH A DIFFERENCE

Ever since the advent of blockchain technology, this current era has witnessed a whole new level of technological possibilities and advancements, how? With the proper understanding of blockchain technology, developers can successfully implement projects or tools to help revolutionize the world in ways deemed fit. Blockchain technology was first introduced by Bitcoin which ushered in decentralization and paved way for cryptocurrencies, this was followed by Ethereum which Introduced the use of smart contracts which can be used to process varieties of transactions successfully. Ever since then, many outstanding projects has come to limelight each holding a unique solution to the problems in certain platforms, systems or sectors such as Financial systems, Healthcare systems, Gaming etc. Even with all these good track records about blockchain projects, cryptocurrencies are yet to be widely adopted into real-world applications. Most blockchain projects have tried solving this issues but their solution is only limited to a few cryptocurrencies and Merchants thereby being insufficient to serve the demands of users. Thus, to solve the problems posing as a barrier to the wide adoption of cryptocurrencies into real-world applications, a team of experts took a different approach. This approach led to the creation of a platform unique in all ramifications known as FUZEX.
In simple terms, FuzeX is a blockchain-based platform with the aim of presenting a better and more convenient way to carry out cryptocurrency related payment as well as other payments securely. Within the crypto space, to acquire cryptocurrencies is quite easy, but to spend it is quite difficult owing to the fact there is little or no existing payment infrastructure which can accommodate as well as process such transactions. The FuzeX ecosystem holds the key to the wide adoption of cryptocurrency into real-world applications as it is made up of;
a. Payment solutions (presented by the team),
b. Blockchain technology,
c. Technical know-how in software and hardware development.

THE WAY OUT: FUZEX ECOSYSTEM

The FuzeX ecosystem comprises of the tools which make it possible to carry out payment with cryptocurrencies, debit card, credit card and reward cards easier, faster and more convenient.
These tools are:

The FuzeX Card: This is a multi-cryptocurrency integrated card which users can also use to connect various accounts such as credit, debit and reward cards to the FuzeX ecosystem through FuzeX wallet application. Through this, users will be able to carry out payments effortlessly with their FuzeX Card without the need to access their smartphones. Users can also check the exchange rate, manage the cryptocurrency they want to use etc, with FuzeX card.
The FuzeX Wallet: This is also known as the hub of the FuzeX ecosystem which connects the FuzeX Card and account management thus enabling users to receive, store, spend as well as transfer tokens. It also supports 2FA, allows users to check the exchange rate and transaction history. Furthermore, in case of card theft, lost card or misplaced card, the card location can be tracked using FuzeX Wallet app.
FuzeX Exchange: This is the heart of FuzeX ecosystem which will be used to bring the wide adoption of cryptocurrency into real-world applications. The goal is to make it possible for users to spend cryptocurrencies stored on their FuzeX Card as they will do with the credit card. As a step to achieve its aim, FuzeX will partner with cryptocurrency exchanges and issuers, in the long run, building its own centralized exchange.

Through the FuzeX ecosystem, a new face of payment system will be Introduced where users will be able to store up to about 30 digital accounts, spend their digital assets anytime anywhere with real-time exchange rate through a simple user-friendly interface. All processes are secured, as well as the presence of 2FA on the FuzeX card itself.

CONCLUSION

Some of the characteristics of money shared by cryptocurrencies like Bitcoin and Ethereum are;
a. Scarcity,
b. Durability,
c. Fungible,
d. Divisibility,
e. Easy storage etc; but they lack USABILITY.
This has posed as a barrier to the adoption of cryptocurrency on a global scale as they have proven to be difficult to spend. The solution to this was presented by FuzeX, a platform which aims to make cryptocurrencies useful and usable just as can be seen in fiat currencies, in the long run, creating a safe and secure ecosystem which will benefit all parties (merchants, partners and users). With FuzeX being based on the blockchain, the platform will be transparent, trustworthy and reliable owing to the decentralized nature of blockchain as users will be in charge of their personal data.
FuzeX being an outstanding project cancelled their public token sale after receiving the need amount through private sale and presale. FXT is the token of the platform, it is an ERC20 utility token built on Ethereum blockchain which can be used to purchase FuzeX card, for an annual membership fee or for increasing transaction limit. FXT can also be used to access certain services within the ecosystem. Furthermore, through integrating partners, FuzeX will evolve from a payment platform to a service platform.