Ever since the advancement of Bitcoin, crypto and blockchain technology, many potential users of these technologies have been enthusiastic about the potential of the technology to usher in an era of inclusivity and economic efficiency. Yet, while a great number of technologists specialize on the design of distributed cryptosystem for the empowerment of the people, we still have approximately 2 billion unbanked adults waiting on the sidelines. These sets of people face challenges like the unavailability of local exchanges which prevent individuals from accessing the crypto-networks as well as the lack of internet access and smart phones that precludes individuals from using the crypto-system. In addition, in developed parts of the world where there is an abundance of smart phones and bank accounts, people are not willing to utilize this system since the existing centralized systems tend to solve most of their problems.
The access network (ACX Network) seeks to eliminate these challenges by managing the interest of these communities to enable them solve each other's problems. The ACX Network is embedded with numerous features and self-sustaining token system that empowers participants to enable them secure financial autonomy. Participants are rewarded and are also beneficial to other individuals through the democratization of the Network’s Incentive Pool. These interactions are effected by the modular system of smart contracts that distribute and manage funds to every sections of the ecosystem to suit the desire of the network. The ecosystem comes with five major layers; the off-chain services, incentive pool, decision modules, ACX utility token and the governance protocol.
The ACX token is used for the following purposes; the involvement of participants in auxiliary services that reward contributors and the engagement in the selection of on-chain protocols. An estimation of 6 billion ACX will be made available to cater for the 6 billion individuals that are financially undeserved and allocated equally to ensure that there is an alignment among the underserved, future network contributors and the individuals participating in the token generation event. ACX network was initiated and developed by the same team that built the Atlas money system, a P2P branchless banking system involve in the digitalization of financial services. The integration of Atlas and the ACX network will lead to a successful exchange platform in West Africa, exploiting 30,000 users and over 500 agents to become ACX token holders and Network exchanges. Asides this, Atlas will partner with Access to produce mobile wallets and offer numerous services to ensure a greater participation in the revolutionized crypto revolution as well as the ACX network.
The ACX network offers a genuine economic autonomy and the acceleration of financial inclusion to the individuals that need it most. It also connects communities to foster unity and enhance financial autonomy. In conclusion, the ACX is an effective way of empowering the underserved and the decentralization of the financial system. It is designed to fast track the overall development through the continual improvement of the financial system. ACX network is determined to ensure that participants are economically and financially stable.
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Author - Coltpython
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Full disclosure, I am submitting this content to the Access community rewards program and may be rewarded for it.
