MoxyOne - Tokens With Real World Value
The cryptocurrency industry is booming, with great innovations and ideas being brought into the world. However, these digital assets are not being utilised to their full potential. Whilst a few businesses are accepting cryptocurrencies as payments, we are yet to see a mass adoption. This is because the existing system is still quite complicated and far from being a simple solution for shoppers. In addition to this, many companies that issue cryptocurrencies are still unable to provide a means for their token holders to actually use their tokens. This issue of under-utilised tokens is something that is greatly hurting the crypto economy.
MoxyOne believes that it has found a solution to this problem. They have plans to develop an infrastructure that allows for cryptocurrency payments in the real world. Well, then you might ask what makes them different from the likes of TenX and Monaco which are the big names in this space, right? The major difference is that they are not primarily a card service but have their focus on developing an infrastructure that can be used by any cryptocurrency company to issue debit cards to their token holders. The white label solution they plan on implementing is a very simple yet effective one. They aim to create an infrastructure that allows any company that issues cryptocurrencies to white label the system and re-brand it to offer custom cards to their users. Platforms that have been developed using blockchain technology can now have a payment system that is made simple with the use of debit cards. Holders can now spend their tokens rather than just having them sit idle in their wallets.
The company also has plans to roll out its own debit cards for their token holders (SPEND). This allows users to make purchases in the real world, such as buying their morning coffee or their weekly groceries, just by tapping their card onto a compatible electronic payment terminal. Alongside payments, SPEND tokens have a very important role within the MoxyOne ecosystem. They serve as the fuel that runs the MoxyOne system by being utilised as transaction fees. There are only 50million SPEND tokens and no new coins will ever be created - and because “scarcity drives value”, SPEND tokens may well be a valuable asset for its holders over time.
The team’s co-founders have a very strong background in development. They have both worked in large financial firms and have a combined 25+ years of back end, front end and Solidity development (Ethereum’s code language). Their plan to develop a financial infrastructure for MoxyOne fits right in with their expertise. The team is also comprised of web developers, a cyber security consultant and a business development consultant just to name a few. They also have advisors from Social and Dcorp that are very successful ICO companies.
MoxyOne has secured Social - A Decentralised Social Networking Platform - as a white label partner to provide its users (SCL holders) with a debit card system and payment gateway. They also have plans to use the Raiden Network’s micropayments channel to allow for quick and secure transactions. According to their roadmap, the team hopes to achieve their goals of releasing a debit card and wallet system by the end of 2018 as well be listed on multiple exchanges by this time. With their dashboard demo already available, users are able to have a fair idea of what their system will look like. MoxyOne is also being evaluated by the Wings community, which is a decentralised platform for project evaluations. They have forecast MoxyOne’s token sale valuation to be around $19 - 20 million USD.
Participants in their token sale can be rest assured as the MoxyOne smart contract for the token sale has been audited and approved by the Hosho Group. They have also provided their wallet address to Clearify - a scam prevention wallet address verifier - to allow participants in the token sale to send their contributions to the correct wallet address. Token sale begins on the 8th of February 2018 at 01: 00 UTC and ends on the 14th of April 2018 at 01: 00 UTC.