Hello friends, in the last blog I talked about the project and the structure of the FuzeX card, in this part we'll talk about the purse and the FuzeX exchange. And so will not pull the cat for a certain place, let's begin.
The FuzeX purse is required to manage the card itself, and to be an apparatus for storing, receiving and spending both fiat and crypto-currency funds. The features of the wallet will include:
• Ability to register in the FuzeX Ecosystem Register, for full access to management of various crypto-currencies in your wallet, including the passage of KYC.
• Receive, transfer, store, exchange in real time various crypto-currencies. At the same time, the exchange rate is dynamic, and depends on the current exchange rate at the moment.
• The ability to view reports on balances, the difference between revenues and expenses, or simply to say the balance of the account!
• Security of using the wallet, since only registered users can use it, the deception factor, theft, and multi-accounts are not available.
• Map of recent purchases. It will be possible to trace the last use of the map on geolacational maps of your city.
• Secure two-factor authentication with the 2FA system, plus a secret pin code that is paired with the FuzeX card.
The purse itself works in tandem with the FuzeX card, over the connection of your smartphone with the installed application, and the card itself via Bluetooth. The communication system itself is interestingly thought out, it is possible to include a security function that will not allow you to pay for the purchase with a FuzeX card unless it is connected to your phone at the moment via Bluetooth. Plus for this communication technology a safer connection, and intercepting it is very difficult, so the synchronization of the account of the card and purse on the phone is perfectly protected.
Now let's talk about the future exchange from FuzeX. It will be called FuzeX Exchange, which translates as "exchange FuzeX". This is an ordinary exchange, but it is necessary for the further development of the card itself, since the purpose of the FuzeX team is to ensure the possibility of spending and credit funds around the world. Now not every seller or supermarket will start crypto-purses to store that or me crypto currency, so the team decided that at the expense of the exchange there will be an instant purchase of the currency that you transfer for a product or service. And the Sellers will not even know that they received the converted payment from the crypto currency. Already, for the functional of the card, crypto-currency exchanges are used for these purposes, but to reduce commissions and expropriations from exchanges, FuzeX will create its own soon, it will be centralized, and in its plans to become a multi-billion dollar exchange.
To maintain a constant balance on the exchange, any surplus can be offered to other exchange markets, sales proceeds will be used to hedge foreign exchange risks.
Thank you for reading the next article on my acquaintance with FuzeX. In this part, we looked at not unimportant components in the FuzeX ecosystem, namely the wallet and the stock exchange. As for me, we fully got acquainted with this functional of these elements and were convinced of their competitiveness and need for the FuzeX project itself. I'll be waiting for you in the third part, where we will analyze the setup and how to use the card and its functionality, thank you for your attention!