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BridgeX Network - LEND · BORROW · CONVERT · SEND

BridgeX Network - LEND · BORROW · CONVERT · SEND
Friday, 22 February 2019

 Despite the rapid growth in the popularity of virtual currencies, this type of assets remains unrecognized by most banking systems. Because of this, most owners of virtual currencies can not use their cryptocurrency assets as collateral for a loan, as most banks accept as collateral real estate, land and gold, that is, assets from the real world. All this leads to the fact that the situation of persons owning virtual currency is deteriorating.
In addition, the situation of virtual currency owners is getting worse due to the complexity of the process of converting virtual currency into Fiat. So, in order for ICO creators to be able to implement them after raising funds and pay for the work of specialists, they will need to perform a number of procedures:
  • transfer funds from a virtual wallet to an account on the exchanger;
  • to convert the funds into Fiat;
  • withdraw money to your own Bank account;
  • send funds from the Bank account to the accounts of employees and specialists.
All these procedures require not only a lot of time, but also resources, which is why the company itself is losing quite large amounts of money.
The new network called BridgeX Network will eliminate all existing problems and provide participants of the crypto-currency community with the opportunity to receive loans, perform currency conversion and make cross-border payments.

Project objective

The main goal of the network developers is to create an ecosystem to provide decentralized cryptographic financial services that allow democratizing access to credit and unite the worlds of Fiat and cryptocurrency. In addition, the creators plan to achieve a future in which digital assets will be recognized as legal and will be used along with Fiat money.

Principle of operation

The work of the BridgeX network will be provided by the following components:
  • BridgeX Core;
  • BridgeX platform;
  • third-party integrators.
The core of the network will be the core of BridgeX Core, which includes a set of smart contracts based on the Ethereum Blockchain, which allow to provide loans, monitor the fulfillment of the terms of their repayment, as well as to enter data collected outside the network. Also in this core will be used a specialized cash management module called BRIDGEPay, which allows you to convert virtual currency into Fiat and back, as well as to perform cross-border payments and use the received credit funds.
It is important to note that BridgeX Core allows you to use decentralized applications developed by banks in order to become a member of the network. Using the API, financial institutions will be able to provide their own services within the BridgeX Network.
The BridgeX platform is Its own decentralized network application with an intuitive interface and the following sections:
  • BRIDGELoan;
  • BRIDGEConvert;
  • BRIDGESend.
BRIDGELoan is a section in which lenders will be able to place their own proposals, as well as to satisfy customer requests for loans. Users in this section will be able to take loans with certain conditions or place their own applications with conditions that satisfy them.
BRIDGEConvert and BRIDGESend will work in the BRIDGEPay module, which allows making payments and converting all cryptocurrencies. This model will support more than 30 types of Fiat currencies and will provide the ability to send funds to 180 countries. Through the use of Blockchain technology, all operations will be as transparent and secure as possible.
The main currency of the platform will be the BNX token, which can be used to pay for the services provided. Within the network, you can use other coins, but the use of BNX will reduce the level of commissions for operations. Coins of the site can be purchased within the framework of the ICO.

Dates and details of the ICO

The developers of the network intend to sell 300 million coins at a price of 0.00006 ETH. Hardcap project-18 thousand ETH.
Other information about the ICO is temporarily absent.
The distribution of tokens is as follows:

Conclusion

Creating a network that blurs the line between virtual currencies and Fiat money is a revolutionary idea that can transform the world of the economy. Given all the current financial problems in the world of cryptocurrencies, the creation of a network that solves them can attract a huge audience. And based on the fact that every year the number of members of the cryptocurrency community is becoming more and more, its success is obvious.
That is why investing in the development of the BridgeX Network can be a contribution to the future of mankind and a good source of income.

Official resources of the BridgeX Network project:


AUTHORSHIP:
GPScrypto

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