The X-Factor Exceeds Payment Expectations in Food Market
Food is life. Everyday, people eat and with the fast-paced life most people are now leading, take-outs and food deliveries become increasingly common. It is for this reason that the food and beverage as of 2017 is valued at about 78,000 million USD and thus considered one of the profitable industries to date. Add to that, entry into the food industry requires minimal capital which results in the steady rise of food entrepreneurs over the years.
The X-Factor, a blockchain-based payment application within the food industry, takes advantage of the steady industry growth and provide an invaluable service to billions of consumers all over the world. In this article, the reasons why this new platform will exceed expectations and become a success are highlighted.
What is X-Factor?
The X-Factor is a payment platform exclusive for food consumers and entrepreneurs. It makes use of the Ethereum network which is another blockchain technological breakthrough after Bitcoin. Ethereum’s Nonce technology prevents the double-spending issue which is common in other blockchain ecosystems. This means that users will be guaranteed with security of assets and that one coin will never be used twice. Furthermore, the X-Factor embeds smart contracts into the platform that automate multi-signature transactions among the stakeholders (i.e., the consumers, businesses, advertisers, and X-Factor) as securely and efficiently as possible.
The X-Factor came about as a response to the dire need of the public for a safer and less costly payment method when dining or buying food in restaurants and cafes. Because blockchain is essentially a distributed ledger technology that encrypts, stores, and mines blocks of transactions as transparently as possible, data alteration is completely out of question. Although the data is publicly accessible, it cannot be traced to the sender or recipient of transaction. This brings comfort and security to consumers as their private information remains private, unlike most credit card or debit card payments that are hackable or prone to other fraudulent activities.
More so, unlike bank-mediated cash, check, or card transactions, any blockchain payment platform like the X-Factor requires minimal transaction charges for a real-time money transfer or crediting service. The X-Factor is also compliant of the ERC20 protocol that governs coin model analysis including its value, so platform users are guaranteed with affordable services.
Yet, more than these technical features, the X-Factor food payment application is set to become a sure success because of its solid team of developers who conceptualized value-adding XRT wallet features and crafted a targeted business model.
The X-Factor’s Strengths
The application’s strengths include: first, its use of own peer-to-peer (P2P) ecosystem with its own wallet and tokens, and second, its target economy which is Asia.
Wallet Features. Developed with a messaging capability, platform users can connect to friends. Moreover, X-factor designs its e-wallet that works on all devices and accepts other cryptocurrencies to be converted to XRT token. You can easily monitor your activities and check on your account information anytime, anywhere.
Unlike banking, it does not follow an 8-hour schedule which means that you can use your tokens even as late as midnight to buy bread or drink wine. The decentralized platform also frees the users from the complex and sometimes conflicting government policies across different countries. There is no more hassle in visiting money changers for your cash or calling your bank when visiting countries.
Furthermore, when using the services profit-oriented banks, there is little to zero chance of getting rewarded for your patronage. The most you can get is a ticket entry to a raffle draw or a gift card on your birthday. But with XRT wallet, you pay and earn at the same time. Incentives, such as cashbacks and proof of stake, are being given to increase engagement and promote loyalty.
Other than the reward system, the wallet allows borderless trading using your XRT tokens. You manage your own trading account and when the odds are in your favor, you earn more than what you can earn in the traditional mutual fund or stock exchange market.
Target Economy. Asia is not called the melting pot of world economy for no reason. It is home to diverse cultures and businesses. Even global brands, especially those in the world’s super powers like US and European brands in different industries, are made in Asia. Likewise, this continent is also blessed with flavorful cuisines, innovative food concepts, and high traffic of food travellers. Deciding to focus on the Asian food market, therefore, is a strategic move for X-Factor. Laying the groundwork and focusing on partnering with Asian food entrepreneurs will ensure success for X-factor. Unlike other food payment apps that come out too grand and idealistic only to end up failing, the X-factor is focused in its approach to business launching and is therefore more practical. The costs of building the necessary infrastructures and acquiring the necessary resources are relatively less expensive in Asia and this is a competitive advantage for the X-Factor team. This will greatly help in making their vision come to life. This cost-efficiency also spills over to all its stakeholders, including the token users and partner advertisers.
Lastly, it is important to note that while these features seem to directly benefit the food consumers and businesses who are platform users, the X-Factor also contributes to the entire economy. Because of convenient and cheaper way of paying for goods, more food entrepreneurs will be enticed to join the thriving food industry. This generates employment, drives tourism, advances the blockchain technology industry, and adds purchasing power to consumers. The platform even helps local businesses advertise globally which may pave the way for expansion.
Token Sale
Ticker: XRT
Price: 1 XRT= 0.000125 ETH (Phase 1); 0.000167 (Phase 2); and 0.000250 (Phase 3)
Supply for Sale = 500 million XRT
Bonuses = 5 to 30% depending on the time of participation and investment size
Phase 1 of the ICO runs from July 11 to 28, 2018. Phase 2 is from August 1 to 15 while the last phase is from August 16 to 30. The sale closes once it is capped, thus buyers are encouraged to participate as soon as they can and help make the food industry achieve greater heights.
For more information and details on the project, find them by visiting their official website or reading their whitepaper. Be updated as to the current events happening during the ICO by visiting their social media pages.
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=4496581
Website: https://www.xrtfoundation.org/
Whitepaper: https://www.xrtfoundation.org/public/docs/whitepaper.pdf
Telegram: https://t.me/joinchat/GEN9Dg_sdouCzz9LqV9UAg
Facebook: https://www.facebook.com/xrtfoundation2018
Twitter: https://twitter.com/XrtFoundation
Author: Instaco
Author Link: https://bitcointalk.org/index.php?action=profile;u=2050406