ChainX Exchange
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ChainX Exchange

My Identity Coin (MYID) IEO on ChainX

About My Identity Coin (Website : http://www.okglobalcoinsg.com/)

MYID are utility coins used for the tagging/identification of blockchains with unique owner identifying code. The purpose of tagging blockchains with MYID coin coding is to reduce and ultimately eliminate threat of loss, theft or unfair confiscation.

There is a total volume of 100 billion ethereum(erc20) MY IDENTITY Coins. The ethereum erc20 blockchain was used to create MYID Coins for ease of access to various funding and trading platforms. MY IDENTITY Coins will migrate to its own unique block due to the functionality limitations of the ethereum blockchain.

“The Money Project”

The first and only compliant international blockchain project of its kind aimed at the complete disruption and takeover of banking, finance, exchange and payment processing via a living reactive decentralized autonomous organization, DAO.

A living DAO that operates globally to replace faith based problematic fiat currency and bring back the use of real “money” which holds an intrinsic value backed by assets and investments, that will rise in value to beat inflation rates and be used globally without threat of loss, theft or unfair confiscation.

Payment

1. PROBLEM

High merchant card processing fees & long account reconciliation times . Trillions of dollars are transferred annually via card payments from customers to merchants and fees are typically 1 to 3% of the amount charged and include a per transaction fee of between .05-.25 cents. Many businesses monthly profit is only several percentage points, assuming they are profiting at all. Consumers are often charged surcharges and/or require minimum purchases.

-> SOLUTION:

OKGlobal has no per transaction fee and only 0.1% charge. 1/10th to 1/30th of current percentage rates with ZERO per transaction cost potentially saving U.S. consumers and businesses alone billions per year from fees.

Service

1. PROBLEM:

High financing rates. Insurance Premium Financing for insurance policies is one of the safest forms of investment available. Insurance companies often require policies to be paid in full. Many people choose to finance the premiums over the course of a year with installments paid back to a financing company that pays the insurance company the total premium upfront. Insurance policies are simply cancelled and funds returned prorated back to the financing company in the event the insured does not pay the loan. Down payments are typically 25–30% and the financing company loans the balance to the insured. The loan amount is sent directly to the insured’s insurance carrier.

-> SOLUTION:

OKGlobal profits by offering the lowest financing rate in the country and collecting late fees.

2. PROBLEM:

High currency exchange fees. Global currency exchange and remittance is a multibillion dollar industry as a result of the limits and problems of government fiat currency. The fees are expensive and international travelers have little to no option but to pay the fees in order to have fiat currency of the country of their destination.

-> SOLUTION:

Zero currency exchange fees for SWITCH account holders and below market rates for non- account holders. Foreign cryptocurrencies (any crypto other than OKGlobal Coin) will be charged competitive rates.

Reinvestment

Unlike other cryptocurrency with trading/purchase value based upon speculation from theoretical or even real use cases, OKGlobal coin holds an increasing raw *forfeit cash value and is used in routine daily purchases and financial services. OKGlobal Coin is hedged against losing all value unlike other cryptocurrencies and solves real world problems while turning the traditional banking and finance industry upside down by sharing profits with each participant and enabling democratized participation into OKGlobal Coin operations.

*Forfeit cash value is the base guaranteed value of the coin in case of complete selloff of coin in speculation/trading market. The forfeit cash value should be a constantly increasing value backed by profits and investment holdings from OKGlobal SWITCH companies. Coin will have both a speculation trading/purchasing value and a base forfeit cash value in the event of complete market crash.(TETHER, USDT similarity)

Banks and financial institutions have been loaning and investing with other people’s money and then funneling those profits to a select few but with the benefits of blockchain technology and OKGlobal coin SWITCH, profits will be justly returned to participating members who hold OKGlobal coin because it was their money that was used to generate profit. It turns each coin into a global investment and trading tool.

My Identity Coin is a utility coin for tagging identity to blockchain packets!!!

You can participate IEO and check more details from this website (https://chainx.kr/)

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