IUNO – THE BANKING SECTOR REVOLUTION
Unarguably, banking has come to be synonymous with man and his activities. From the onset, humans have sought for ways to transact as well as safeguard funds. The banking systems have come as a source point of injecting funds into the circulatory flow market. With each year, more and more persons are beginning to have access to the plethora of services that are synonymous with the banking sector.
THE NEGLECTED PERCENTAGE AND THE IUNO PERCENTAGE
One observed trend with current banking systems is that they are largely selective with whom they offer services to. Loans are steep and come with stringent conditions. Some persons are deemed unqualified to enjoy some services as a result of their geographical orientation or even some minor factors such as insufficient funds to bank. In an ideal situation, all individuals should be free to engage in banking activities.
The blockchain concept is largely hinged upon an attempt to disrupt the very unideal phenomenal that have been created by the otherwise centralized systems currently in operation. This is where the IUNO project comes in. Built upon the blockchain platform, the IUNO projects is seeking to bring the opportunity the doorstep of this tiny percentage of individuals who have been prevented from having access to this centralized banking services. Owing to its non-dependence on geographical restrictions (thanks to its decentralized and distributed systems), the IUNO project is armed with necessary features that would give it the enablement to empower these neglected individuals.
COIN CLASSIFICATION AND HOW IT RELATES WITH THE IUNO PLATFORM
In the cryptocurrency world, it is common sight to encounter hordes of various currencies which are continually being launched on a daily basis. However, we can loosely categorize them into three niches: They tend to fall into either the niche for coins meant for general payments, the special payment niche or the banking niche. The coins that fall into the general payment category are useful for just that: payment. Whilst being a catchy innovation, they are not so high on the usability side. This is due to their inapplicability in the real world. For the special payment category, the projects are usually designed for specific markets. Hence the coins designed are usually used for just that industry. Take for example one for gaming. The coins would be designed to create fund liquidity within the specific gaming sector and thus create an avenue for the user to possess purchasing power within the gaming environment. The banking category is a quite significantly less saturated when compared to the other two earlier discussed categories. All the established projects have one thing in common: an attempt to approach the industry through the perspective of a particular challenge which they thus move to provide solution to. Hence their approaches tend to be one-sided. This is where IUNO comes in. IUNO is choosing to take a broader perspective in an attempt to create a whole new ecosystem within the banking sector to cater for a wide range of banking services.
THE IUNO EDGE SERVICES
Edge services refers to points at which the transfer to regular currency is made possible. For greater usability and applicability, there needs to be a seamless means of transferring tokens to their fiat equivalent. This has been made possible through the edge service points. There are three edge points which are significant to the platform.
The first would be the regular bank methods which could include the transfer or wiring of funds through any reputable means. Another is the card system which involves the use of either a credit or a debit card. Payment transfer is enabled through the gateway system which has already been broken down in earlier paragraphs. And finally, the last edge point would be through special edge agents who would be authorized to accept fiat payments in exchange for Access Based Tokens (ABT). Exchange can be made through cash or electronic means as these agents accept whichever. Also, they accept tokens in exchange for fiat tenders. This way, there is a seamless flow from token system to the fiat system, thus increasing usability.
THE IUNO DESIGN SCALABILITY FEATURE
One huge problem of most blockchain projects is their inability to foresee and envisage increase in influx of customers. On the contrary, the IUNO platform is specifically designed to thrive on an increased in-flow of users. The platform would thus not just be envisaging the spike of influx, it would also be anticipating it. With increased migration to the platform, the credence would also experience an increase, thus leading to increased dominance of the project. This would be implying higher valuation by users and would also drive for further widespread adoption all over the industrial world. The platform is to be built with scalability in mind.
IUNITS AND THE IUNO TOKENOMICS
Utility tokens are responsible for providing liquidity within an ecosystem. The IUNIT is one which has a drive to provide service as well as create a unique environment having the qualities of transparency and ease of operation. Through established incentives, the platform would encourage members to be actively involved in the development of the community marketplace.
CONCLUSION
Banking is an aspect of our lives that has come to stay with us. Hence, to make our lives better, we would need to improve the standards of the activities that we engage in. Improving the standard of services we get from the baking sector would directly imply an improvement in the quality of living. IUNO seeks to better our lives by bettering our banking system. Decentralization is the ultimate way!
PROJECT USEFUL LINKS;
Website: https://iuno.io/
Whitepaper: https://s3.amazonaws.com/iuno/iuno-whitepaper.pdf
Telegram: https://t.me/IUNOForum
Twitter: https://twitter.com/iunoblockchain
Facebook: https://www.facebook.com/IUNOBlockchain-577194359329346/
Youtube https://www.youtube.com/channel/UCwZctobOEqY9_owsgqXXuPw
WRITER'S DETAIL
Bounty0x Username: kwinner
