Source: Nexty.io (2018)

Introduction

This article will give you a general summary of Nexty’s project based off their whitepaper. There are 2 other articles which go into depth on various sections linked within. Nexty is an amazing project and I hope you enjoy this article.

Nexty.io, (2018) claim they are a FINTECH ecosystem. This is “the fastest growing area for venture capitalists, comprising of computer programmes/tech which supports/enables financial services across the world” (Investopedia, 2018). They will help with e-commerce and technology start-ups to raise funds.

Their vision is for a future where people can pay for purchases without the need for cash, anytime with no fees. This is what gripped me to this project whilst reading their whitepaper. We all invest in crypto because we don’t want to rely on the traditional system.

The problem

Nexty say businesses/individuals have no consistent payment methods due to the cumbersome nature of the banking industry, making change very difficult.

Other Blockchain solutions have fallen short according to Nexty. This is down to the scalability of blockchain at present. I urge you to remember the Ethereum backlogs/fees back in Dec/Jan?

This problem of congestion still exists even with generation 3 blockchains today. The finance and technology industries contradict each other also. Nexty will extinguish the culture of short term thinking and resistance to change.

Their solution (Ecosystem)

Their ecosystem is a peer to peer marketplace; which could allow viewing of properties and simple deposit payments to be paid via the Nexty account. The Nexty platform will create & verify transactions via smart contracts. The Nexty ecosystem could also be used for international trade at substantially less fees.

There will be a “guarantee of partners belonging to the ecosystem” (Nexty.io, 2018). These agreements will be e-contracts and offer a vast new stream of transactions. They will be guaranteed once a contract is signed.

Amazingly, they will also offer “Ecobank” services. They can verify reliable contracts and issue loans to businesses who require it, essentially making it a lending platform also.

Ecobank and Nexty have a collaboration with MasterCard for online transactions giving customers a wide array of options. Nexty.io (2018) further suggest start-ups can utilise Nexty tokens as a means of capital, thus driving growth.

Article 2 cover’s Nexty’s Transaction Platform: https://bit.ly/2lg9XKH

The quick roll out of their technology

Nexty will advertise their ecosystem to online and retail businesses and release their API to them. They will demo their online wallet to create demand. They will review and target start-up FINTECH companies conducting ICOs.

They spoke at the “World Blockchain and Cryptocurrency Summit 2018” in Moscow in May. They have signed partnership deals with Gosama.io (which allows faster transfers of money at no fees to a huge market). Nexty also have a fully developed phone wallet on the App Store, and Google Play.

Benefits of Nexty to new investors

Early joiners become NTF holders, which allows you to become a miner.
Possibility of lifetime earnings of NTY from DCCS via PoF.
Possibility of lifetime earnings from the annual profits generated by the price stabilisation system.

See article 3 for how their PoF consensus works: https://bit.ly/2MyUqlA

Roadmap

This is a year full of growth for this project. This team are busy using ICO funds to build this ecosystem and build a large client base which is exciting to see.

Exchanges

Nexty is already listed on IDAX.

Conclusion

This ecosystem is what is needed in the world today; it will make transactions easier, faster, cheaper and safer than traditional means. It is very hard for me to find good projects lately so it is exciting when I come across projects like this. This ecosystem will solve a real pain in the world today. As described in their whitepaper the world needs fast transactions and low fees coupled with a commitment to privacy and confidentiality and which is simple to use; Nexty certainly provides this in my view.

References

GitHub. (2018). nextyio/yellowpaper. [online] Available at: https://github.com/nextyio/yellowpaper/blob/master/Paper.pdf [Accessed 17 Jun. 2018].
Investopedia. (2018). FINTECH. [online] Available at: https://www.investopedia.com/terms/f/fintech.asp [Accessed 17 Jun. 2018].
Nexty.io. (2018). Nexty Platform – A Bright Future for Daily Transaction. [online] Available at: https://nexty.io/ [Accessed 17 Jun. 2018].
Nexty.io. (2018). [online] Available at: https://nexty.io/nexty-whitepaper.pdf [Accessed 17 Jun. 2018].
Nexty Platform, (2018). [Video] : YouTube.

An In-Depth look at the Nexty Ecosystem and the reasons why it is a game changer