AtoX, or will restructure the global cross-border settlement system

Discussion in 'Cryptocurrency Trading' started by qwert, Mar 25, 2019.

  1. qwert

    qwert Member

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    Many countries on the African continent are very poor and cannot afford the cost of expensive construction of bank branches and infrastructure. The lack of financial infrastructure will result in a cross-border remittance rate of more than 10% in some regions, that is, a transfer of one hundred yuan, a fee of 10 yuan will be charged. In contrast, the blockchain cross-border remittance charge is much lower.


    The increasingly complex international environment has brought many problems to cross-border trade. Especially in cross-border payment and settlement, trade financing and transaction settlement, due to different national policies, customs clearance, tax, and returning issues plagued cross-border logistics enterprises. At the same time, due to time, geographical and other factors that cannot be controlled, it also brought a lot of trouble to cross-border trading enterprises, for example, we can't make cash spot.


    Now, the blockchain is coming. AtoX cross-border settlement is coming.


    The potential of “cross-border settlement + blockchain” has allowed AtoX to try to solve these problems from different perspectives.


    Real-time cross-border payment, AXC adopts a consensus mechanism based on the Byzantine fault-tolerance algorithm. Through the voting mechanism to confirm the transaction request, the transaction can be confirmed in a few seconds, realizing cross-border real-time clearing.




    Decentralization to improve the efficiency of settlement. Compared to traditional cross-border payments, AtoX uses blockchain to provide a decentralized way to create credit. Without the intervention of any third-party center, the two parties can reach a consensus and eliminate the time cost of clearing between different payers and significantly shortening the trading cycle. From the time of account-to-account, the blockchain can basically achieve real-time account-to-account.


    Low cost and transparency. AtoX cross-border payments is only required to cover the gateway handling charges for peer-to-peer transactions and the cost of currency exchange, which greatly reduces the cross-border payment costs. In the transaction process, gateway fees and exchange rates need to be confirmed by the user, which improves the transparency of the costs.


    Reduce the cost of clearing. AtoX can save a lot of this part of the cost because there is no need for intermediaries to participate in the payment and clearing process. At the same time, the cost of credit maintenance in traditional cross-border payments can be significantly reduced.




    Strengthen financial liquidity. As a decentralized peer-to-peer system, AtoX can handle transaction processing almost in real time, greatly reducing the amount of funds in transit and helping to improve financial liquidity. On the other hand, in the blockchain-based cross-border payment model, banks only need to use some kind of digital currency recognized by both parties, without the need to reserve additional legal currency, thus reducing the occupation of other currencies.


    Support for multiple currencies. AtoX introduces market maker mechanism and AXC as a bridge currency, supports for virtual currencies such as Bitcoin, and multi-currency cross-border payment of legal currencies such as US dollar, Euro, and RMB.


    Provide a powerful means for payment supervision. The non-tamper and traceable characteristics of blockchain technology provide a strong support for risk monitoring and prevention and control. With blockchain technology, any payment behavior can be tracked, abnormal transactions can be discovered in time, and the transparency of payment activities can be increased. The AtoX network provides a unique interface for supervision.


    As the blockchain technology continues to mature and improve, its application scenarios will continue to expand. AtoX, or will restructure the global cross-border settlement system.


    Choose the AtoX project to let you break out in 2019. Participation link:

    Atox Project official website: http://www.atoxchain.io

    Atox project Chinese community: https://t.me/axc_china

    Atox project English community: https://t.me/axc_english
     

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