XCard - Spend Anywhere, Any Cryptocurrency With Any Payment Card

oluwatosin10 (41)in #blockchain • 5 years ago

Introduction
Innovation is evolving everyday, we see new technologies disrupting old ones and making life more easier for us. Technology has made the race of humanity to be more innovative, refined and civilized. All appreciation goes to the innovative blockchain technology which cannot be hack, corrupt, erase or delete data on it. The potential of this tech is enormous and it has what it takes to virtually revolutionize every industry known to human civilization.

Truly, innovation offers every kind of alternatives in all services that it has the capacity to render but it is somehow difficult for a new innovation to quickly spread its tentacles in every industry that it has capacity to revolutionize but we have learnt through history that new innovations that faced serious opposition at the time of their invention are the ones with wider global influence, examples of such innovation is air transportation of the 19th century and the internet of the century we are in now and the same thing is happening to blockchain and cryptocurrency now but a time is coming when they will something that everyone will need to embrace.

Even the most vocal critics of crypto knows that it can truly revolutionize the payment industry but it always takes time before people will trust new innovation and this is same to crypto, they don't trust it as an innovative and affordable medium of exchange despite seeing it as more innovative and efficient than its conventional alternatives. Recently, there are many articles in the news media which inform people that you can use Bitcoin, Ethereum and other top crypto assets to pay for your coffee at any Cafe bar but the statement happened to just be imaginary and vague because the reality on ground doesn't correlate with it. Only 0.1% of global commercial activities are done in crypto and this means that its adoption as a means of payment in real-time is very low and the main reason for this is because of slow transaction processes and high cost of transaction. Due to the volatility of an average crypto assets, merchants and business owners are very scared to accept it because its value is not stable and this is not good for their business and because of this, holders of crypto will first of all need to exchange their crypto assets to fiat currency before they can make use of it in rea life as a means of payment. Going through the process of exchanging crypto to fiat is somehow cumbersome and also using crypto to make payments is a little bit technical which makes it to be not enticing and ideal for someone who is not technically savvy. Another obstacle to wider adoption of cryptocurrency among the global masses is low liquidity.

As of now, we all like the idea of making payments through credit cards or debit cards because of its efficiency and simplicity but what we overlook is that the issuer of the card has full control over all the transactions done through the card and the entire infrastructure of the card is centralized. Issuer can decide to freeze the account associated with the card at any time and there's nothing the card can do. Also, the fiat currency that will rely on is not that safe because its value can be depreciated through hyperinflation, monetary policy of government, economic and political instability. But this is about to be over, all thanks to the team behind XCard who are on a mission to develop a blockchain payment platform for fiat-based and crypto-based payments.

Goal of the Project
The goal of XCARD project is to develop a blockchain-based innovative payment infrastructure powered by Mobilum ecosystem. Mobilum as a platform are made up of its own wallet, API exchange and a crypto card known as XCARD. All of them, make possible an infrastructure od crypto and fiat-based instant payments solution. XCARD as a payment card which supports more than 200 crypto assets and many fiat currencies provide an all-inclusive instant payment solution for everyone. XCARD is a fully licensed payment ecosystem system domiciled in Estonia and Latvia. It is also incorporated with Visa and SEPA and this increase the credibility and authenticity of the platform.

How it Works
XCARD is planning to revolutionize the credit card aspect of digital instant payments and they are doing this with the introduction of cryptocurrency as a means of instant payment into it. This means that XCard will be a crypto card that supports more than 200 crypto assets and it can also be used make payments in fiat currency. What those who want to make use of XCard services needs to do is to connect their existing payments card or bank account details with XCard mobile app downloadable on Playstore and Apple store. Once this is done and completeness of kyc, the card which is virtual will be available for instant settlement and transactions.

XCARD Benefits

XCARD ensures instant payments in crypto and fiat currency.
Getting started on it is very easy and one can start making use of its services instantly after registration.
Users of it can easily top it up through existing payment card or through cryptocurrency.
Users of it can get loan through it by using their crypto assets as collateral.
The card has its own wallet for storing and transacting cryptocurrencies.
XCARD users can lend other users their crypto assets.
The card can be used to make instant payments and instant settlement, it's an all-in-one card.
XCARD is the world's first ever biometric crypto credit card.
XCARD ensure the connection of fiat currencies and cryptocurrencies in real time.
The card has its own native ERC-20 compliance utility token which powers its operations.

Token Structure
• Token ticker: MBM
• Token platform: ERC20
• Total tokens: 640 million

Closing Remarks
It is highly remarkable to see a blockchain project which real use case which can be easily adopted by anyone. XCARD is making use of the incredible benefits that comes with crypto to settle and make possible instant payments with our existing payments card. Mobilum which is the ecosystem XCard fintech is built on are bringing new possibilities in the digital payment sector. Truly, we will enjoy the endless possibilities of blockchain technology through Mobilum payment ecosystem.

Useful Links
Website: http://xcard.io
Read Whitepaper: http://xcard.io/static/XCard-Whitepaper-21082019.pdf
ANN thread: https://bitcointalk.org/index.php?topic=5177945.0
Telegram: https://t.me/mobilumcom
Facebook: http://www.facebook.com/mobilumcom/
Twitter: https://twitter.com/xcardbymobilum
Medium: https://medium.com/mobilumcom
LinkedIn: https://www.linkedin.com/company/mobilumcom
YouTube: https://www.youtube.com/channel/UC9Yy1zIpqzMFLSNUN05Nvqw