Fuzex-Cryptocurrency Payment at your Fingertips

ololatide (11)in #cyptocurrency • 6 years ago

Majorly in the cryptocurrency world ,the individuals with cryptocurrency wealth have several challenges in the process of translating their crypto wealth into accepted money, The activities of purchasing, transferring, and exchanging cryptocurrencies to widely accepted “money” are complicated, slow, and unstable. introducing you to FuezeX Ecosystem a solution to cyrptocurrency usability, The FuzeX Ecosystem provides real-time exchange between crypto and fiat currencies this means that you can now bridge the gap between your online wallet and the one in your pocket.

FuzeX aim is to break down the “nice to own, but difficult to spend” problem with cryptocurrency and help bring to completion its journey as a widely recognized and accepted form of “money”. We seek to solve this usability issue of cryptocurrency by combining our experience in payment solutions and blockchain technology with our technical know-how in software and hardware development.

The FuzeX Ecosystem

The FuzeX Card : FuzeX Cards (magnetic strip and barcode enabled), which are smart e-cards that enable users to embed up to 30 credit, debit, or reward cards in one.

Features of the FuzeX Card:

Store, manage and use up to 30 credit, debit, reward and cryptocurrency accounts Built-in buttons to power on/off, enter pin codes, make selections, and authorize payments on the FuzeX Card itself

E-Paper Display (EPD) to view balances across accounts, barcodes for reward card scans, and QR codes for blockchain addresses

EMV (IC Chip) for multi-cryptocurrency payments

Near Field Communication (NFC) for credit and debit card payments

Barcodes for reward payments

QR Code for cryptocurrency wallet addresses for P2P transfers

Bluetooth connection between FuzeX Card and FuzeX Wallet to ensure security (Users have the additional option to securely lock the FuzeX Card when the Bluetooth connection is disconnected)

Remote wipe technology to clear data from the FuzeX Card

Battery life between 45~60 days

Plus a sleek, slim, rechargeable portable battery bank

The FuzeX Wallet :As the hub for the FuzeX Card and account management, the FuzeX Wallet allows users to store, spend, receive, and transfer tokens.

Features of the FuzeX Wallet:

Enables registration (includes KYC) for FuzeX Ecosystem

Send, receive, and exchange cryptocurrencies (cryptocurrency amount and respective fiat currency value is clearly displayed with real-time exchange rates)

Check account balances, transaction history and exchange rates

Only registered devices can access the FuzeX Wallet to ensure security

Interactive map and address of the last location that the FuzeX Card was used (prior to Bluetooth disconnection) to help users locate and retrieve their lost FuzeX Card

Android and iOS application for smart phones

Two factor authentication (PIN on FuzeX Card and password on FuzeX Wallet) for the purposes of secure private key management.

The FuzeX Exchange :The FuzeX Exchange is the core, backend platform bringing world-wide cryptocurrency adoption to reality. Our goal is to allow users to spend cryptocurrency on their FuzeX Card as they would do on any regular credit card, and for Merchants to receive fiat currencies (USD, Euro, Yen and any other local currencies) as they currently do

Features of FuzeX Exchange
Hold a multitude of reserve cryptocurrencies and fiat currencies to facilitate real-time exchange (exchange rates derived from aggregated market rates) between cryptocurrencies and fiat currencies for payment transactions

Function as a hosted wallet that is secured by 3 multi-signature security keys (User Key, Exchange Key, and Isolated Key for recovery) *Transactions execute only when 2 of the 3 security keys are deployed.

Integrate with Issuers/Legacy Payment Networks (e.g. MasterCard, Visa) to confirm sufficient fiat equivalent cryptocurrency balance in the Users’ accounts during payment authorization and releases fiat payments to Issuers

Acknowledge selected cryptocurrency for payment when the User holds the relevant button to confirm selection on their FuzeX Card

If Users lose their User Key, upon verification of identification, they can create a new account and User Key. FuzeX can then transfer the balance from their previous account to a new account using a combination of the Exchange Key and Isolated Key

FuzeX Setup & Transaction Flow

STEP 1

Choose your desired cryptocurrency on your FuzeX Card. Then view your account balance and real-time conversion rate in fiat (conventional) currency.

STEP 2

Hand over your FuzeX Card to the Merchant. The Merchant then inserts your FuzeX Card as normal and the POS terminal sends a request to the relevant Issuer.

STEP 3

The Issuer instantly checks your account for sufficient fiat funds via the FuzeX Exchange. If there are sufficient funds, the payment is authorized. If not, then the payment is declined.

STEP 4

The Merchant receives payment authorization and the payment is complete. You then receive a courtesy purchase summary via your FuzeX Wallet.

The FuzeX Exchange Transaction Flow