FUSION - Realizing the missing link for a global decentralized financial institution!
The middle men have been with us for as far as trading institutions is concerned. There must be a way to transfer value between people who are involved in any business transactions. No thanks to the centralized systems on which this world has been built on. Everything passes through a unit of exchange - usually a financial organizations. But thanks to the blockchain technology. A lot is changing recently in various areas of human endeavor. We are dismantling centralized systems to build the more efficient decentralized technology. There have been so much innovation in the financial sector with the advent of blockchain technology. However, a lot is left to be desired since most financial blockchain technologies act independently - just like the centralized systems they are vying to improve or replace.
The big question is: How can we unify the different blochchain technologies and build a decentralized financial system that removes the middle man? The answer is here - FUSION.
What is FUSION?
Fusion is a blockchain-based platform for the transfer and exchange of values between transacting parties. Fusion hopes to replace traditional financial institutions with a decentralized and efficient system that trades tokens created with blockchain technology for services rendered by an individual or organization. Fusion hopes to establish a global all-inclusive financial platform on a blockchain; thereby removing entirely our centralized financial systems with its challenges.
With fusion, the compatibility gap between various blockchain technologies is closed by creating an ecosystem where values are exchanged and transferred accurately without losses or other challenges and inefficiencies obtainable in the current blockchain exchange systems. Fusion will forever change the world of cryptofinance by creating the single most important element that is lacking in the world of cryptocurrency: a hassle-free system for exchange. Fusion will be a revolution becuase of the following reasons:
Benefits of Fusion as across chain financial platform.
The benefits of having a platform that can operate across all channels cannot be over-emphasized. Here are some of the benefits:
1. It will reduce cost drastically: Imagine the service charge collected by many exchange sites and agencies when you want to change bitcoin to other coins and vice versa. How much do you loose as operational charge. You have a idea. Now, calculate how much it will cost 1 million crypto users to exchange their coin to another coin. It runs into millions. A platform like Fusion hopes to save cost since it operates across platforms. No extra cost is uncured when users trade their coin for other coin. This cost saved could be used to improve other areas of a project that requires financing.
2. It will save precious time: When we use exchange sites to trade one coin for another, the time various but it is never instantaneous. Normally there is a wait period for the transaction to be completed. This wait period ranges from some second to several minutes. Because Fusion will operate as an all-inclusive ecosystem, all the tools needed to exchange one token for another is there. Hence, there will be no wait period as transactions and exchanges on the platform is almost instantaneous. This saves valuable time that could be invested in other useful activities.
3. Fusion will improve efficiency in the blockchain exchange system: Fusion will incorporate both current and future blockchain technologies, bringing centralized and decentralized organizations into a unified system. Hence, this will ensure greater efficiency since all the interacting parties and tools needed to conduct business are embedded on the platform and readily available
How Fusion will help propel forward the "Internet of Values".
Since blockchain technology is built around creating tokens (which are values), any system that works to retain those values after it crossed hands will surely deserve a second look. Fusion hopes to emphasize not just creating values but retaining those values after an exchange is done. The ability to convert values accurately across blockchain platforms will make Fusion stand out from others since it will make use of decentralized technology to achieve efficiency and save cost too. By giving Fusion the functionality of financial institutions and the efficiency of a blockchain technology, Fusion hopes to propel forward the "Internet of Values", helping all parties see more clearly that no value is lost in the process of exchanging values online.
Some use-cases for Fusion
Imagine a Fusion powered e-commerce platform where buyers meet the suppliers and transact business directly; removing the middle man (Banks or other financial institutions). Smart contracts are used to ensure that the money deposited by buyers is secure while the suppliers have the confidence to release their goods even when they are yet to receive cash. Using Fusion smart contracts, the buyer is sure to get his money back if goods supplied are not as described. The supplier is also confident to send down his best products, knowing too well that his goods are secured by the smart contract. At the end of the day, it is a win-win situation for all parties involved. No value is lost in the process.
How the ability to map chains and transaction logic improve interoperability.
Fusion hopes to create an entirely new way of transferring values between participants. To improve interoperability, Fusion will integrate the ability to map cross chain cryptocurrencies. The identity of the mapped cryptocurrencies will be stored in a decentralized manner while tokens representing the mapped assets are created separately. This improves interoperability by ensuring that the blockchain is completely secured. Since Fusion will map cross chain cryptocurrencies, it is able to sustain all manners of financial services in a unique fashion, which makes values flow in a more efficient and fundamentally-changed manner. Overall, these improve interoperability.
the benefits of being able to use traditionally bank-operated financial tools in a decentralized manner between cross chain users.
The benefits of are many not few. Take a look:
- Because this is a blockchain technology, scarce resources are used more efficiently and it reduces duplication of resources as seen in today's centralized financial systems.
- Using traditionally bank-operated financial tools also assist participants tap into the financial expertise and know-how needed to extend financial services in a decentralized manner.
For additional Information
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https://steemit.com/crypto/@originalworks/370-steem-60-bonuses-sponsored-writing-contest-fusion
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