If you thought that digital coins were the only currencies you couldn’t waste on fidget spinners or whatever useless garbage you’re tricked to buy in the real life, well think again, cause TenX, a startup based in Singapore, who just launched their ICO earning $34 million in few minutes has figured out how to solve one of the biggest problems of cryptocurrency users -- actually spending the currency.
A debit card, :O. yeap that’s the original idea they came up with.
But more seriously, this one is original, since it will allow spending blockchain assets in the real world.
The card is backed by an iOS and Android app that serves as both a wallet and a decentralized fee free exchange. The app runs on COMIT protocol that connects blockchains, such as Bitcoin and Ethereum, to communicate and interact directly with one another with no intermediaries.
The digital currency is stored in a wallet until the very moment the user decides to spend it and thereafter is converted at the best possible market rate into the local fiat currency.
Transactions can be carried out anywhere in the world, online and offline, without any process fees and the user would theoretically be able to make use of the card at any store where standard credit cards are accepted.
Having successfully tested their debit cards with beta users, TenX seems to be preparing both digital credit cards as well as tangible plastic cards to be ordered globally via the TenX app.
And the consequence of all this is that TenX would increase market liquidity
This will further boost the increasing popularity and value of the cryptocurrency that is to reach in less than 10 years $7.8 trillion worth of assets stored on the Blockchain or 10 percent of the global GDP according to the World Economic Forum.
As Tobias Hoenisch, co-founder and CEO of TenX, announces: “Our vision for the world is becoming reality: making any cryptocurrency as usable as a dollar bill in your pocket.”