The current financial system is a very confusing one. Banks, in one corner, represent the old financial structure of money, that has evolved but still needs of some third-party mediation. Cryptocurrencies, on the other hand, have risen as a solution for the banking dilemma, but they have also been integrated into a market that trades them for fiat money, turning them into assets. AWAX seeks to be the one-size fits all solution for combining all the financial services under just one roof and one app.
AWAX, The Almighty Service
AWAX is a platform that aims to be the one to combine all financial services, banking, stock and cryptocurrency services just under only one app. A common problem for cryptocurrency investors is market volatility: it is well known that cryptocurrency prices go up and down pretty rapidly. Some investors lack the ways for turning these volatile investments into real life earnings because there is no easy way to do it. AWAX aims to be this connection between traditional services like stock markets, forex and banking, and crypto, to allow these investors to capitalize their investment.
AWAX can also solve many of the problems available in today’s market with its blockchain technology. Settlement of payment between parties is also a known problem. With escrow and smart contract inside the platform, counterparty risk is greatly reduced to just an Ethereum block.
AWAX will also permit investors to be ubiquitous in every market that is connected to the platform: This means that even if the investor does not have a connection to the market via bank accounts, the settlement of payments and purchases can happen inside the platform via cryptocurrencies or other series of assets.
The AWAX architecture will be established on top of Ethereum, and it will be comprised of various components: a multipurpose platform that will be the one to support the other modules. An exchange module, that will be the first exchange to provide trading for all kinds of assets, be it fiat based or cryptocurrency based under just one solution. A Bank, that will be the first online international mobile bank that will offer the same benefits and instruments of other normal banks connected with the ability to use this instruments for cryptocurrency without any problem at all.
Also, the AWAX platform will offer investors with a stake on the platform the opportunity of enjoying a VISA Credit card, to spend the cryptocurrency in the platform in conventional purchases, or where the retailer still does not accept crypto. An ambitious project that earns our ICO of the week article. To learn more about their project visit them here.