FXpay is an innovative business idea that brings cool technology to the forex Exchange Market. FXpay operates with the mindset that it is impossible to reduce risk and gear up speed of transaction on the foreign exchange market. This will happen via the use of FXP tokens, an ERC 20 token with basis on the Ethereum blockchain technology.
FXPay seeks to get rid of the lapses of the foreign exchange market via the use of blockchain technology. Most inefficiency in the blockchain market does not have a solution. Hence, the use of digital currency will give brokers and traders the means to easily switch between Fiat currency and FXP tokens.
On logging on to the FXP tokens, users will be able to convert any of the Forex pairs. With the forex credit, traders can trade or do other transactions on the platform. At the end of each trading section, traders will be able to convert the trading credit to FXP or any other digital currency of their choice. It will also be easy for traders to maintain the Forex credit thus, making it easy to continue trading at any other time.
FXP – Official Token of FXPay
The official token of the FXPay will be called the FXP. All transaction on the platform will be done via the token. The token has the backing of the famous Ethereum block chain hence, compliant with the ERC20 model
With the blockchain technology, FXPay will make available full decentralization to the foreign exchange market. The introduction of the FXP token into the market will bring synergy in all transactions. The foreign exchange market as at now only deals with fiat currencies. It is pretty hard to see cryptographic market.
The introduction of FXP token will address this by allowing investors and traders use the FXP to trade. The token can be exchanged for fiat easily which will also be able to convert back to FXP token.
Stakeholders
A lot of users will be able to participate in trading hence, making the platform vibrant. There are various roles of stakeholders on the platform all aimed at bringing success to the platform. There will be a broker that can link any trader that uses digital currencies for foreign exchange trade in his digital wallet to a trader. Hence, the broker can help the trader trade after getting the necessary funds from the trader.
Community
The FXpay will establish a community of interested investors. This community will center on the broker by allowing him transact on the foreign exchange market with the use of the blockchain technology.
Incentives
There are lots of benefits on the platform for traders and brokers alike. There are financial benefits for traders holding the FXP token in their wallet. The FXP token will always appreciate in value thus, holders will benefit from it with time.
Brokers who hold transaction on behalf of traders will be eligible to discounts. Part of the discount is the ability to purchase the FXP token at reduced rate and resell at their desired price.
Conclusion: FXPay Platform
FXPay has put many features on ground to bring complete decentralization to the foreign exchange market. Also, the project will make it possible for users to trade with cryptographic currencies. The use of MasterCard and VISA card will also open up a new world into foreign exchange trading
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Author - Coltpython
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