For this article I will be doing SWOT analysis On Nexty project to determine the internal and external factors which could mitigate the project from achieving its objectives. The Internal factors include Strengths and Weaknesses while the external factors include Opportunities and Threats. I will begin with the internal factors.
Instant Transfer: Transferring coin from one wallet to another happens instantly as it takes less than 2 secs for the coin to appear on the other party wallet.
Zero Fees: Nexty has zero transfer fees when transferring coin from one wallet to another, what you send is what you receive.
Mobile Wallet App: Nexty has mobile app which is available for download on Android and IOS stores. The mobile wallet app will enable anyone to send and receive payment from anywhere around the world.
Block Explore: Nexty has its own blockchain and explorer where you can check and monitor transaction
Listed On Exchange: Nexty is already listed on idax and has a trading pair of NTY-ETH and NTY-BTC and more exchanges are expected to come soon.
Large community Members: Nexty has large community members; their telegram community amounts to over 34k plus members, Twitter followers over 15k members, Facebook likes and followers over 29k members
No Web Version Of the Wallet: Nexty is only available to mobile users, there is no web version where users can create wallet, send and receive payment, I believe they will soon make the web version available so that everyone will have access to the Nexty platform to send and receive payment.
No Advance Security Features On the Mobile App: Logging into the app requires you to provide your public address and your password to login to the app, There should be an advanced security feature to protect the users funds, like implementing finger print or facial detection tech when login into the app.
Untapped eCommerce Industry: The eCommerece industry is still lacking behind in incorporating crypto currency into the industry, there are few shops that accepts crypto currency as a payment option on their online stores, this is because of the time it takes to get confirmation from the blockchain network but Nexty instant payment will allow shops to integrate Nexty as a payment option.
New Starts Ups: There are many starts up today with great ideas but lack the finance to build their project, Nexty will help to discover and finance such starts up and get a fair share from them for helping them to fund their project
Smart Staking Program: NTF holders will have the opportunity to mine NTY by staking their NTF tokens for a period of time to help in the confirmation system.
Regulations: Regulation might affect the general use of crypto currency in the future and Nexty is not left out, while some countries are embracing crypto currency other are restricting the use of crypto currencies
Technology shift: No doubt competition cannot be rule out in every industry and your competitor will always take your idea and build on top of it and add more feature that will make your platform an old tech. Nexty needs to improve on their technology as well to able to stay in this competitive industry.
Conclusion
From our business analysis above you can see that Nexty Strengths outweighs it weakness and the opportunity it presents it's far more than the threat. Therefore I am concluding this article on a note that Nexty represents a good business venture.
Website: https://nexty.io/
Whitepaper: https://nexty.io/nexty-whitepaper.pdf
Telegram: https://t.me/nexty_io
Twitter: https://twitter.com/nextyio
Facebook: https://facebook.com/nextycoin
YouTube: https://www.youtube.com/channel/UCrwJTPycPiDm5-m__7tvfsw
Medium: https://medium.com/@nextyio
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1801013
