Why will blockchain build a better credit system? In 2008, man called Satoshi Nakamoto published white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”. After that time, bitcoin and many other cryptocurrencies are introduced. Bitcoin is an open, decentralized, distributed ledger cryptocurrency and the backend technology is called blockchain technology.
The best part of blockchain is that it can bring decentralization. Decentralization is so important to credit ratings because no one can control credit ratings result thus it brings objectivity. Another feature of blockchain technology is immutability. Immutability makes a data stored cannot be changed in certain circumstances.
Decentralization brings objectivity to credit ratings, immutability makes сredit ratings cannot be сhanged or controlled by a third-party. Is that enough? Not yet, the key to a reliable credit rating is the credit assessment method. Fortunately, BridgeX Network has finally found the solution.
BridgeX Network is positioned as a decentralized financial ecosystem. The ultimate goal is an instant exchange between all crypto pairs. Fiat transactions will also be available.
The main services are loans, conversions and payments, including cross-border ones. To ensure the flow of Fiat and credit history data, BridgeX Network will connect banks and other financial institutions. The concept is simple - basic lending system, but reliable blockchain technology. Availability is important value of BridgeX platforms, but it will also improve speed and security. BridgeX Network seeks to simplify interaction of traditional financial markets with blockchain technology using various services and tools.
BridgeX Network structure:
BridgeX Core is the core on Ethereum with smart contracts that process all kinds of transactions within the platform (credits, conversion, payments). A sort of infrastructure on which the financial products of a startup will be based.
The main module will be BridgePay - the team has been working on it since Q1 2018.
BridgeX Platform, consisting of the Marketplace BridgeLoan (loans) and modules BridgeConvert and BridgeSend (respectively, currency exchange and transfers). The last two are part of BridgePay.
Yes, this is what the BridgeX Network has a slightly confusing structure - it’s best to study it visually. Startups, incidentally, promise to launch support for 30 popular "fiat" currencies and ability to interact with the system from 180 countries.
The BridgeX Network is not going to force out traditional financial institutions - it intends to cooperate with them. Project with such strong team and such promising idea will very likely become popular!
ICO details
Ticker: BXN (ERC-20)
Total Tokens: 1,000,000,000
Tokens available on ICO: 300,000,000
Token price: 1 BXN = 0.00006 ETH
Hardcap: 18,000 ETH
Website: https://bridgex.network
Whitepaper: https://bridgex.network/180827%20BridgeX%20Network%20Whitepaper.pdf
Forum: https://bitcointalk.org/index.php?topic=5024373.0
Telegram: https://t.me/bridgexnetwork
Author Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1092949