Foreword
Hello everyone, as you all know with the development of Blockchain technology, cryptocurrencies have been born, since then there have been many cryptocurrency projects that have grown and achieved great success. Today I will introduce to you a cryptocurrency project called #XCARD, developed by Mobilum. A project for digital wallets, there have been many projects about digital wallet platform but why XCARD was born and it brings something new, let’s find out soon.
Today with the explosion and rapid development of information technology, the use of digital wallets is becoming more and more popular. And the XCARD digital wallet is a perfect means, an application for you to store your assets. The special thing is that XCARD digital wallet can store both crypto and fiat currencies. That is the advantage of XCARD compared to other cryptocurrency projects. When choosing a product or service that you like from a variety of products and services, you must rely on many factors: storage capacity for digital assets, property loans, security account, #security wallet, security of the system … From there you can choose the most satisfactory products and services.
Cashless payments are a trend of the future. Currently, there are many organizations that make payment without using cash but the cost is very high and dangerous for users of their services. So XCARD has applied Blockchain technology to solve the problems encountered when using cashless payments. XCARD’s mission is to connect cash to cryptocurrencies in real time, upgrade the service so that the payment process takes place immediately without any difficulties even if it is the first time. customers use XCARD, besides XCARD also provides payment services with very low transaction costs and ensures safety for customers using XCARD services.
Preamble
As you all know, the development of technology has helped a lot in our lives. As Blockchain technology developed, it also gave birth to cryptocurrencies. We can receive / deposit money freely, we do not have to be confined to making a deposit transaction. However, the problem here is that the liquidity when you make payment in cryptocurrency. A lot of rich people in the world, they have money and lots of money. Of course they have cryptocurrencies (they simply see cryptocurrency trading very quickly, time for the rich is very valuable) but they cannot pay for water, electricity, taxi, they don’t use tokens to make purchases in any store. They cannot spend cryptocurrency. That is the big problem that cryptocurrencies are facing.
Some problems of cryptocurrencies
- On May 22, 2010, an application developer named Laszlo Hanyecz used 10,000 bitcoins to buy two pizzas. Notably, Laszlo’s pizza purchase is also considered the first real transaction in the world to use bitcoin. Since then, many institutions have also made payments in cryptocurrency. Every day, there are many articles written about payment by cryptocurrency in shops, bars, cafes … However, those articles or studies only produce unreliable numbers. Very few organizations and businesses accept cryptocurrencies and make payments in cryptocurrencies. Perhaps some accept the use of cryptocurrencies for payment because they are testing a new payment method.
- Blockchain technology developed helps combat transaction frauds and system frauds through Proof of Work, Proof of Stake and consensus mechanisms. However, because the nature of the validation process is that of network participants and the process is decentralized, transaction validation is very time consuming. You must wait for all the participants in the network to confirm your transaction then you can pay for goods and services. The waiting time for transactions and confirmations, high transaction costs are still major obstacles on the way to use cryptocurrencies for payment.
- Cryptocurrencies fluctuate according to the #exchange rate, in theory, payment in cryptocurrencies will occur quickly but it still has a certain waiting period. During the wait for confirmation, the exchange rate changes. When you pay with cryptocurrency, the trade price will be based on the fiat rate. When the exchange rate fluctuations are large during the process of making cryptocurrency payments, you will receive significantly larger or smaller fiat amounts as a result. That is a huge risk.
Have you heard of inflation? So you have understood what is inflation in fiat?
Inflation is the continuous increase in the price of goods and services over time, which is the loss of value of a particular currency. When the overall price rises, a currency unit will buy fewer goods and services than before, so inflation reflects a decrease in purchasing power per unit of currency.
Inflation has 3 levels:
• Natural inflation: 0 — below 10%
• Galloping inflation: 10% to less than 1000%
• Super inflation: over 1000%
Inflation is a difficult problem for each country at the present time. So XCARD came up with a solution based on cryptocurrency, a user-friendly cryptocurrency payment model. XCARD will offer solutions to solve the above problems.
What is the solution of XCARD?
Stemming from the outstanding issues in the process of paying with cryptocurrency, XCARD came up with the idea, then implemented that idea through a series of processes.
- Issue a credit card, through which the user can integrate monetary assets and cryptocurrency assets in just one credit card. XCARD integrates more than 200 cryptocurrencies, converts currencies into cryptocurrencies and vice versa. Users can pay almost immediately without any problems, the payment process is 100% secure. Users can also withdraw cash 24/24 worldwide.
- XCARD is created with user-friendly interface even if it is the first time you use it. When you register a card account, you will own the card immediately, that card is a virtual card. It is called a virtual card but you can pay globally with many different currencies, especially you do not need to prepay your account. Xcard is also used for online payment, you can also buy / sell cryptocurrency quickly.
- XCARD with side-chain functionality technology will allow all transactions to operate efficiently, safely and ensure liquidity. Collecting data and encrypting them to ensure customer security is also a top priority of Xcard.
Products of XCARD project
All activities and products of Xcard in the payment field are in compliance with international card standards. The company has developed the XCARD app to cater for the payment and development of the credit card ecosystem.
Xcard app and credit card ecosystem
As I mentioned above, Xcard has issued their own payment card. When you register a card account, you will receive a virtual card after registering for XCARD wallet.
Instructions on how to register the Xcard app to use the payment service:
1. To use the service, you need to download the Xcard mobile app on the app store (iOS) or google play (Android).
2. After downloading the wallet application and registering your account successfully, XCARD will ask you to verify your account. This is necessary to protect you and many other users from criminal activities like money laundering. Users can be assured because customer information is encrypted and stored extremely securely.
3. Connecting your card, Xcard now allows users to connect their payment card to the XCARD application. Some connection methods that you can refer to below:
- Connect with IBAN international bank account number via wire transfer
- If you have a Visa, connect to the XCARD application via OTC
- Send money to Mastercard.
For details on how to install the application and for more information about the project, visit the Xcard website: https://xcard.io
What do you use the Xcard application for?
When you download the XCARD app and register your account successfully, you can use it for international payments. In addition, XCARD offers many other attractive services such as:
- Get loans: XCARD always wants to care about their users, provide the best service to customers, at some point you need some money but you do not know where to borrow or you go to the bank to borrowing credit but paperwork is very complicated and take your time. So Xcard came up with a solution for credit lending. To receive this loan, you need to send an equivalent amount of the cryptocurrency to be used as a mortgage account. You have cryptocurrency in your Xcard card account, if you want to borrow money to replace spending directly on that cryptocurrency à Xcard will lend you money by using your cryptocurrency as collateral. Especially, Xcard will not charge interest if you borrow a credit account during the day, if you borrow credit for a period longer than one day, Xcard will calculate interest. This has never been seen in individuals who lend credit or credit institutions. Xcard always wants users to feel comfortable using their services, Xcard cares about user emotions. This makes me very interested.
- When you use Xcard to pay, the transaction will be made via #MBM token. You need to have 0.5% of transaction value in MBM when you convert currencies and other loans.
- Some of the functions that XCARD is continuing to build and develop on their application: Xcard for credit loans, but if you have cryptocurrencies, you absolutely can lend that cryptocurrency; integrating more currencies and many cryptocurrencies in parallel with it to improve instant transaction speed with lowest costs; In addition, XCARD will build an e-commerce utility in their ecosystem, you will not encounter any intermediaries or obstacles, your job is to spend money and other things let #XCARD do for you.
Conclusion: So I have introduced you to a very promising project, a project that has solved the current problems of payment. The following article I will introduce the technology of XCARD to you. You can find more information about the project by following these links:
Website : https://xcard.io
Whitepaper : https://xcard.io/static/XCard-Whitepaper-21082019.pdf
Twitter : https://twitter.com/xcardbymobilum
Facebook :https://web.facebook.com/mobilumcom/?_rdc=1&_rdr
Telegram : https://t.me/mobilumcom
Medium : https://medium.com/mobilumcom
Linkedin : https://www.linkedin.com/company/mobilumcom/
Author : yenyen143
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=2370719
My wallet: 0xD2eF313B34Ba09e2500d3640066Ea0d5C59e14D0