Over the past years, there have been issues related to financial crisis, inflation, corruption and many other vices. These not only became a challenge but also a custom and a belief for some countries, portraying them as unresolved problems which could be accepted in a society. However, the essential point behind that is the movement of money and critical monetary policies which neither favor the present or future generation.
The movement of fiat currency not only has an impact towards the stability of the economy, but also a possible threat for human safety. In other words, promoting a cashless society could lead to a more transparent and organised way, best for the community and economy in general. Apparently, there have been various innovative ideas which all promote a cashless society such as online transfers, use of debit and credit cards, mobile cash transfers and many others.
However, societies have come up with various methods to solve and promote cashless transactions depending on their targets of interest. One more problem has been: "withdrawing technology method, best for both fiat currency and crypto currency holders". At present, cryptocurrency holders are facing challenges towards exchanging their tokens or else using their assets as a medium of exchange.
WHAT COULD BE THE MISSING POINT AND THE LINKAGE?
At present, it is estimated that 70% percent of people hold visa cards in urban areas. However, this does not consider cryptocurrency holders. This leads to an increasing charging fee in terms of their monetary purchases or transactions. In other words, only one thing is done , either performing fiat transactions using visa cards or transferring tokens using crypto exchanges.
Looking at the problematic, there are always questions linked to it:
How could we link both crypto and fiat currency?
What could be the easiest way to reduce additional cost?
or else, Could my blockchain assets be spendable instantly?
These above questions are the strong points holding the creation of TenX. TenX thought of a way which could favor crypto holders by availing possible means which could make their blockchain assets spendable instantly and every place around the world. However, this implies that there should be a creation method available for fiat money holders, but similar to the one of crypto holders leading to the creation of the TenX visa card.
This technological idea seems impossible to some and much more understandable for others. People accustomed to crypto transactions will simply aim to understand its functionality, terms and conditions, geographical scope and probably it's durability.
Briefly, TenX has nothing great to improve but a way to solve problem. It just serves as a linkage between those with blockchain assets and the desire to transact them or using those assets for any other purpose. Simply, a way to hold and use blockchain assets as it is with fiat assets.
WHAT COULD BE REASONS AND GOAL BEHIND THAT CREATION?
The blockchain technology is till new and expected to realize 10 years of existence since its creation. Thousands and millions of people have joined this revolution and probably making this platform the next generation monetary system.Thus, the desire to join a blockchain technology where there is no third or middle party involved into the transaction.
Below are the few reasons:
The desire for independence: People aim for a more private and simple way to transact their currencies without anyone holding them back. This is currently done within online crypto wallets but still a challenge towards cashing them out. The TenX innovative idea aiming to provide a Visa card will simply implement that desire, goal and purpose to fulfill clients needs.
The search for transaction simplicity: At moment, people do send their cash using blockchain exchanges. This way will simply lead to a broad exchange method of exchanging the currency and cashing out anytime and anywhere where visa cards operate.
Geographical Scope: Visa cards provide a large scope for customers. Incorporating a tenX visa card will certainly facilitate and enable blockchain holders to exchange their assets anywhere and any time they wish too. This can either be in Africa, Europe, America or Asia.
However, these reasons have always had a goal to reach at the end of the day. Not only people located in Europe or America will have access to the TenX visa card but also those in developing countries either located in Africa or Latin America.
TenX team traces the following vision:
We think bigger than a Cryptocurrency payment company. Our vision is to be the fabric for the decentralised world. We aim to connect anyone and anything to decentralised services.