BridgeX Network | Payment Solutions Between Crypto and Fiat currencies

cleante (52)in #bridgexnetwork • 5 years ago

The development of the cryptocurrency market and blockchain technologies showed us the negative aspects of the traditional banking system. The banking system has an infrastructure supported by governments and institutions that require money and bring together money holders. When we think about financial chaos and systemic problems in the past, we have seen that the banking system is a monopolized and distorted system.

One of the most important solutions of the banking system is to bring together creditors and those who need credit. Those who lend money to the banks through interest are earning money, while those in need of money buy money with interest. As long as the process is extended through the so-called maturity, the lender earns money in exchange for the rented money, and the person who lends money loses money. The institutions that hold this system together are called bank. Since these systems are supported by governments and governments, people trust this system.

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But the iceberg has an invisible face. In the past many banks and financial systems have been sunk. Many users have lost their funds to these organizations and have not received their money back. In addition, banks are the only intermediary between the people who give and receive money and they demand high money from the users. The people in the banking system are now tired of this tax and unseen costs.

BridgeX Network has a system that will be an alternative to the banking system that brings together digital moneyholders and people in need of money. Determining the rights of people who receive money and receive money, BridgeX Network offers all the solutions to prevent people from becoming victims.

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Elements of the BridgeX Network Platform

BridgeX Core

Based on the system of order types on the stock exchanges, BridgeX Network brings together people who want to borrow and take credit. Loan people enter the conditions such as the maturity, amount and the rate of the credits they will give to the BridgeX Network system. The people who will receive loans will also enter the system in the same way as the money they will need. BridgeX Network can match these contacts to ensure that credit transactions are completed.

Bridgepay

Unlike other platforms and projects, BridgeX Network can provide reserve currency transitions. Banks only support the reserve currency. Many crypto currencies are integrated into the cryptocurrency system. The BWX Network platform combines all of these traditional banking and crypto systems.

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Third Party Integrators

Designed with an open code system, BridgeX Network allows developers to develop their own decentralized applications on the system. This system, which is integrated with insurance companies and e-commerce sites, enables the issuance of loans through crypto collaterals. In addition, insurance companies can determine the insurance rates of their users with the same system.

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DApp BRIDGELoan

The working principle of the BridgeX Network system has clearly defined the rules for the rights of individuals. If the amount of collateral is reduced or expired in any case, the system automatically warns the creditor. Intelligent contracts that block a certain portion of the collateral on the system unlock the collateral if the borrower withdraws the collateral amount to the desired level. In this way, a trustworthy and perfect system is created between the creditor and the debtor.

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Advantages of BridgeX Network Platform for Users

BridgeX Network has a traditional remittance system certificate and has a state-certified payment method. Users can safely terminate their transactions without dealing with regulatory problems.
With the BridgeX Network platform, users value their digital currency. It is ensured that the earnings of the users over their long-term and non-traded digital currency are obtained.

BridgeX Network only supports over 30 local currencies instead of traditional fiat currencies. In this way, users can get rid of the costs they pay when converting them from local currencies to reserve currencies.
The main problem of many users is that they cannot reach the past financial records of the people they will lend. BridgeX Network blacklists users who misuse the system by financially grading the lenders. Credit points of users who use past loans properly and do not exceed the collateral amounts are raised.

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Conclusion;

This project with quite different features crypto giants Salt a project that is able to rival bi projects. In addition to the previous experience of the team considering that it consists of successful projects such as UnionPay, WorldPay and AMEX, MoneyGram International it is a project that can be successful in a short time. The fact that a fund invested in world-famous crypto coins like Fenbushi Digital invests in this project supports the future success of the project.

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