TenX has a business model that on the surface, seems very similar to the other card-crypto payment companies currently out there. This level of understanding only changes once you realize the true intentions of this project. As it turns out, sure in 2017 they are attempting to tie crypto into real world exchanges through Visa debit cards, however it seems that they have a long term goal of becoming the payment processor of the future. Much like we have card readers from a few select companies such as Verifone which process transactions using a card network to verify if funds are available, the TenX platform could implement a similar device in the future with less fees, no bank account required, and certainly no debit card. This type of platform would likely utilize a QR code based device.
Sounds great, but how does a project that seemingly does one thing take over the whole crypto payment proccesing world? I think the answer lies in one of their main development projects- The COMIT Network (the Cryptographically secure
Off-chain Multi-asset Instant Transaction network). This is a very hard concept to explain unless you are well versed in the block chain universe, however in lamens terms it is simply an attempt at instant, low cost crypto transfers. The developers like to compare it closely to the early stage internet, and I truly think it is a unique project.
http://www.comit.network/doc/COMIT%20white%20paper%20v1.0.2.pdf
TenX has quite an interesting project. I recommend anyone looking into the project to do some due diligence of their own, and make a clean, informed decision. Boxmining made a very interesting video where he interviewed the TenX CVO and I will link it below.
