If you’ve been following me for some time, you’ve noticed that I talk a lot about modern cryptocurrencies and how they evolve over time. The cryptocurrency market is constantly changing and sadly enough, not everyone is aware of it. In fact, many cryptocurrency developers often have no clue about the real issues and needs of the actual market.
This is why in this article I’d like to talk about Exscudo. I will talk about those issues and how Exscudo is dealing with them, as well as how this can benefit you too.
Exscudo is platform that allows both end users and financial institutions to access the cryptocurrency market easily and legally. The platform is being developed by professionals in the currency exchange and trade fields. This platform is aimed to solve some critical issues in the modern cryptocurrency market most people are silent about.
What Issues Does Exscudo Solve?
There are two main issues that have to be dealt with.
The first one is that modern cryptocurrencies are still not enough attached to the financial systems. Yeah, there are some shops that sell you tacos for BTC and things like that, but I guess we all agree that cryptocurrencies need way more than that to actually become as useful as fiat currencies. This low popularity is due to unsolved technical issues rather than lack of publicity. We need to have a system that would allow both end users and big financial companies to have access to cryptocurrency transactions.
The second issue is that modern cryptocurrency exchange companies were founded by enthusiasts rather than IT professionals. In the news, we hear every day that “exchange “A” got hacked and lost $60 millions” or “$50 millions were stolen from startup “B” and so on and so forth. This alone weakens the reputation of cryptocurrencies per se, pushing away serious investors and small traders alike.
I haven’t found a platform or coin that would address those issues. Not until I discovered Exscudo.
Why Do I Think Exscudo Is Capable of Solving those Issues?
In my opinion, the first step to solving an issue is by acknowledging it. Exscudo is the only platform that openly talks about those two problems, as well as it is the only one that provides a reasonable solution to them.
I’m not saying that startups like Minexcoin or Voisecoin are worse than Exscudo. Those new coins are good too and they aim to improve the system, but none of them dares to face the problem on a deep level the way Exscudo does.
Secondly, I took some time to get acquainted with the developers. You probably noticed that modern cryptocurrencies are often being developed by enthusiasts. You can rarely find a team that has an IT professional.
Now, Exscudo is a different story. Andrew Zimine is the CEO of the project; he worked for 18 years in a company that develops exchange systems, exchange security and ERP-systems for companies. Having such a solid expertise in this field, he was able to spot the mistakes crypto exchangers do. He also realized that he cannot change this alone, so he consolidated a team of professionals that was able to create Exscudo.
As a result, we get a brand new ecosystem – a set of products – that makes cryptocurrencies both secure and accessible to a wide spectrum of users.
We want to create […] a system where an unbanked person can trade on the stock exchange just as simply as an institutional investor.Andrew Zimine
So What Is Exscudo?
By now you probably wonder about what is this magic wand called “Exscudo”.
Exscudo is a set of different modules or “products”, which include:
A specialized trading platform that is customizable and allows both beginners and professional traders to have an enjoyable trading experience. It stands out of the crowd by being the most secure and user friendly platform as for today, as well as it is legally compliant to the requirements of financial institutions.
– The platform also gives you full access to a wide variety of charts about past and present trades, which include all the important and relevant data you need
– The trading platform is accessible through PCs (Linux, Windows and MacOS), as well as through Android and iOS mobile devices. All of the features are accessible through any of the supported devices.
Protected messenger along with a multicurrency wallet – Exscudo uses the power of blockchain to encrypt, decentralize and secure not only your wallet, but also your communications. Exscudo combines the blockchain-based messenger with the wallet, allowing you to send and receive funds using the mobile chat directly and instantly. Fees are a fraction of a percent no matter how far away you are geographically from your partner.
Exscudo debit cards that work with cryptocurrencies. This is truly an innovation – you are no longer attached to a single bank or bank system. You are not attached to a country either. The card balance is based on your Exscudo wallet, and can be used for purchases anytime. The commissions you will be paying for transactions are fraction of what most banks demand.
Merchant Tools – if you are a merchant – no matter how small or big your company is – you will definitely want to check this out. Exscudo allows you to receive payments from any point of the world seamlessly and instantly using cryptocurrencies.
EON – the Fuel of the Exscudo Ecosystem
Any ecosystem requires a unit of exchange, a sort of token to be able to function. There are three options, with option #1 being Fiat currencies. Those are attached to certain countries and banks that naturally apply a set of restrictions. Option #2 is cryptocurrencies, but those are developed by already existing teams, each of which has their own goals. This is why Exscudo opted for the third alternative and created its own blockchain system – the EON.
Just like any other modern cryptocurrencies, the EON is based on an algorithm and backed up by certain protocols (also known as ‘smart transactions’) that enforce the executions of the terms of the algorithm. EON is obviously decentralized and consensus-based, and it is used to execute certain actions within the Exscudo ecosystem.
Unlikely most other cryptocurrencies, the EON cannot be mined. The full amount of 240,000,000 EON will be generated in the initial launch and it will then be distributed during the crowdsale. The amount cannot be changed anytime in the future due to the consensus algorithm structure.
EON is designed to serve the Exscudo ecosystem alone, and therefore it more likely won’t be used for speculation. The sole purpose of the EONis to serve as a link between Exscudo products. The EON can be purchased using Bitcoin, but the obtained funds will serve to cover the computational costs of the Exscudo network.
Exscudo as a Fully-Functional Alternative to Traditional Banking
According to statistics, about 2,5 billion people worldwide have no access to the banking system. However, more than half of them do have access to internet.
Exscudo allows people to enjoy all the benefits banking systems give without being affiliated to a specific bank. All you have to have is an internet connection.
This is only possible thanks to the blockchain technology and it was about time to create a system that would combine blockchain with banking. It is about time to eliminate all the unneeded intermediaries from daily transactions and allow end users and big companies alike to trade freely, safely and seamlessly without any geographical restrictions.
How Legal Is Exscudo?
As we know, cryptocurrencies don’t have a legal base in most countries. This creates some legal restrictions that keep institutional investors from investing in cryptocoins; this is also the reason why retail stores don’t accept cryptocurrency payments. While cryptocurrencies are potentially a great commodity to invest in, it is not an option for most serious investors due to the inexistence of a legal base.
Excudo is definitely a different story because it incorporates their payment system with the banking system. It complies with the needed international legislation. Financial institutions have full legal access to this new digital asset market, which makes Exscudo stand out of the crowd once again.
How Does This Apply to You?
First, Exscudo allows anyone with an internet connection to have access to the international digital asset marketplace without the need to be affiliated to the banking system. If by some reason you’d like to detach from and/or bypass the banking system, then this is a great opportunity for you.
Secondly, the blockchain structure of the ecosystem means that all your transactions will be safe, anonymous and at the same time – transparent. Any transaction can be checked through the block explorer, this way preventing operators from doing frauds.
Low Transaction Fees
Exscudo eliminates a lot of intermediaries from the transaction chain. You see, traditional international transaction fees are so high because the money does not go directly from the buyer to the seller. Instead, it goes through many hands until it reaches the destination. This often results in fees of 10% or more.
Exscudo allows people to transfer funds directly (whether it is a purchase or an investment), which eliminates those additional fees.
How Can You Profit From This?
I hope I helped you to have a clear picture on the basics of Exscudo and how it works. I invite you to check the whitepaper here: https://exscudo.com/Whitepaper_v1.0.pdf
Surprisingly enough, it is written on a clear and easy to understand language without any unnecessary tech jargon. I have read a lot of whitepapers and this is by far my favorite one 🙂
Now, there are two ways you can profit from this new system.
The first and most obvious way is by taking part of it and using it! As for today, there is no equivalent to Exscudo in the world and you can be one of the first people to start enjoying its benefits. The EON ICO started a couple days ago and you still have the chance to purchase some tokens with a discount by going here: https://exscudo.com/ico/
The second way is by taking part in the bounty campaign. More than two million EON tokens are assigned to the bounty campaign, and you have a lot of ways to participate there. More details can be found here: https://exscudo.com/bounty/
There is a lot more I could say about this new platform. Exscudo is definitely something the cryptocurrency world needs at this point of its development. I mean, back in 2009 we had way simpler issues to solve – the cryptocurrency community was working 8 years on solving technical problems, optimizing the system and creating a 100% valid and trustworthy digital asset.
Now that we figured out how to make blockchain work as it was intended to, it is time to amplify that and include both individual traders and institutions to the game.
I hope you enjoyed the article. As always, your comments are welcome in the box below! For more info you can either read the whitepaper or visit their official website here: https://exscudo.com/
Thank you for reading. As always, your comments, suggestions and questions are welcome.