The ACX Network - Blockchain powered Financial Inclusion system
Economic inclusion and freedom is something that every country strives to offer to it’s citizens. Despite the number of initiatives and measures taken to implement this, there is still a lot that needs to be done.
Website:http://acxnetwork.com/
With the help of cryptocurrency, powered by blockchain technology, The AXX team has built an empowering tool to provide equal access to financial systems to the marginalised communities. The main objective of the company is to create financial inclusion for all. The ACX network is the brain behind the team from Atlas Money, who were the pioneers of door-to-door financial services in Ghana and Senegal.
The ACX Network is a self-sustaining token economy that empowers participants to define financial access for themselves. Participants are provided with incentives to promote long-term value for one another by controlling the distribution of the Network’s Incentive Pool.
The ecosystem and Technology
They mainly focused on empowering the communities in the developing world who face discrimination and biases for access to decent financial systems. The ecosystem consists of five core layers, namely the ACX utility token, Governance Protocol, Incentive Pool, Decision Modules and Off-chain services. The token called (ACX) is primarily used for Voting in on-chain protocols and participating in auxiliary services that incentivized contributors develop.
The governance protocol happens entirely on-chain and is to regulate the ecosystem with defined set of rules. They occur in three distinct phases and repeats on a quarterly basis. Their ecosystem is free to alter these intervals according to their preference. The Incentive Pool is coordinated by the decision modules, who periodically pay to the contributors. The proceedings from the token generation will be locked into the Ethereum Incentive pool
They have used future-proof on-chain governance protocol and an attractive incentive program to encourage contribution to the system. They will work closely with the Atlas system to create a base portal which will be used as a medium of exchange for developing world users, who can transact daily between each other using the ACX token. The use of blockchain technology and Ethereum will provide maximum security and transparency of transactions to the users. They are leveraging on the strong sense of community that these nations hold to eliminate the issues that the users will have regarding capital.
ICO and token
The Token is denoted by the Symbol : ACX. It is a functional ERC20 token type compliant with Ethereum blockchain technology. The Token Supply is fixed at 6,000,000,000 ACX.
The remaining token allocation is as below
27% Token Generation Event : 1,620,000,000 ACX
27% Access Underserved Exchange : 1,620,000,000 ACX
27% Incentive Pool : 1,620,000,000 ACX
12% Founders : 720,000,000 ACX
4% Advisors : 240,000,000 ACX
3% Community Rewards : 180,000,000 ACX
Conclusion
With the focus on financial inclusion and serving the discriminated portion of the underdeveloped society, they have created an excellent ecosystem that serves their objective. Their founding principle revolves around financial access to all and they have kept it up with excellent work from their team. The ICO is promising and the company’s roadmap is showing great potential for future growth and expansion.
For more details visit
Website:http://acxnetwork.com/
Whitepaper:http://acxnetwork.com/whitepaper.pdf
Published by:karanj
Btalk Profile:https://bitcointalk.org/index.php?action=profile;u=1030341
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