To help readers make sense of the recently launched FuzeX platform, I want to evaluate the platform For people to make informed conclusions about the project. if you have any comments or questions after reading this, feel free to comment below.
Strengths
The major strengths of this platform lie in its offer as an e-payment solution and the need for such.
FuzeX solves the problem of usability in cryptocurrency ecosystems by which holders of such virtual tokens find it difficult to exchange their wealth for products and services. It also provides a convenient means of converting virtual assets (reward cards, cryptocurrencies, etc) from one form to the other in a transparent manner.
Further, the need for such a technology has existed for quite some time especially since the launch of Bitcoin in 2009. Existing platforms have failed to live up to expectation and left users frustrated most times. FuzeX Card, for example, will be the No. 1 smart e-card in the e-currency world with up to 30 or more different digital assets linked to it.
However, there are obstacles in FuzeX Card's way that could threaten its enviable position.
Weaknesses
From the Whitepaper, it can be deduced that the success of FuzeX as a business depends on the cooperation of its partners. FuzeX proposes to integrate different digital assets in a single account wallet that can be used, through its linked smart card, for daily financial transactions.
Many of these digital assets, however, aren't readily converted to other forms, or transferred to other may not agree with the proposal for some reasons. Again, the viability of this initiative depends on the durability of those other digital assets as well. In other words, the continuing success of FuzeX depends on external factors.
Opportunities
FuzeX is in a great economic spot. According to a 2017 report on a popular financial platform, there were over 1,300 different cryptocurrencies as at last year and a total global market value of over 587 billion USD. The valuation is predicted to hit $1 trillion this year which provides a lot of opportunities for payment solution providers who help people convert their virtual coins into real cash.
Another side of the opportunity lies in integrating these e-currencies on a single wallet seamlessly, as well as in converting reward cards into real money as an option. Much has been said about this, but little has been achieved. Most of earlier attempts revolved around small-scale concepts and experimentations. FuzeX card is the top smart e-card in the sector for now and the only one supporting all of :
Cryptocurrencies
Credit & Debit Cards
Reward Cards
It's also the only such project promising the integration of cryptocurrencies as a service platform.
Threats
As far as threats are concerned, I see challenges in terms of regulatory authorities. Just like internet access is censored in some areas of the world, cryptocurrencies will also face increasing regulatory pressure wherever they threaten local governments and currencies. This is not to insinuate that they could be totally controlled, but to say that the integration of fiat currency and cryptocurrencies could be jeopardized, to some extent, in those areas. If this happens, it will affect the success of FuzeX as a business in the future.
However, for now, I can see can see a booming digital assets market that is putting enormous pressure on the financial services sector to innovate and come up with new payment solutions to streamline conversion of crypto wealth into fiat money.
For more information about FuzeX, visit any of the following links below.
USEFUL LINKS
Thank you for reading !
