Introduction
The verified users of Dexa Coin are one on a continuous rise all across the world. This increase is in reasonable proportionality to the diverse problems that Dexa Coin solves. The conditions, protocols, and methods employed make the solutions uniquely relevant. A lot of the issues that it addresses are still present in most traditional payment platforms to date.
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Here are a few solutions that the application uses in solving some of these problems.
Instant notification and quick processes:
To perform money transfer and remittance through conventional channels is time-consuming. Especially when the transfer is between countries as a lot of forms are filled, and numerous verification steps are required. Sometimes after money transfer through a bank system, you do not get notification until several hours. Dexa Coin solves this with the use of a few steps of verification and registration. Once you download the application, you can create your account with a few easy steps. After each transfer, notification is sent to both parties immediately. There is also the messaging feature with which the sender can communicate with the receiver to confirm the transfer. This is a very socially relevant communication channel
Affordable charges:
The decentralized nature of the system puts most of the work on the users (independent nodes of the peer to peer network). The costs are a bit raised for single large payments. Even at that, Dexa Coin's services are still more affordable than those of the conventional payment system. Also, the system does not use hidden charges as application displays the fees that the system will charge before the transfer or transaction.
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Transparency:
The application displays the details and the charges for each transfer before the user initiates it. There is a comprehensive breakdown of the financial details. It does not operate on the client-server model, so most of the information is in the user's domain. The balance of a user's Dexa wallet shows on the application every time. A monthly summary of a verified user's account and transactions is available to the user for accounting purposes. It is usually sent to the user’s email
Security and privacy:
By its decentralized nature, the digital channel of ERC-20 token (Dexa token) is very much secured. Generally, the primary advantage of blockchain-based systems is their independence and online security. The app serves as a secured digital channel to move money from one bank account to another. Bank servers are prone to hacks and cyber-attacks because of the centralization of their systems and servers. Dexa Coin overcomes those vulnerable protocols. The application includes an end to end encryption between the communications of users. It also has a unique method of detecting fraudulent initiation of transactions and transfer without the user's consent.
Conclusion
The money remittance industry is a massive one, and more should be done to improve the system. Dexa Coin has hit the ground running with unique solutions to most of the problems it faces at an affordable rate. Dexa Coin aims to globalize an efficient transfer system with sustainable solutions.
USEFUL LINKS
Website: https://dexacoin.net/
Whitepaper: https://dexacoin.net/wp-content/uploads/2019/08/DEXA-COIN-OFFICIAL-WHITEPAPER-UPDATED-24th-AUG-2019-01-27-AM.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5158033.0
Twitter: https://twitter.com/DEXA_COIN
Facebook: https://www.facebook.com/DEXACOIN.DEXA/
AUTHOR'S DETAILS
Bitcointalk Username: Chidoskim
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2652432
