BINCOIN PROJECT: TRANSFORMATION OF THE FINANCIAL SYSTEM

lekato (12)in #ico • 5 years ago

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The blockchain technology has numerous benefits, and the only way to focus on them is to observe the shortcomings of the modern transaction structures.

Searching from a historical angle, the fee system has come a completely lengthy way - from such instruments of trust as paper cash and credit card systems to contactless and mobile payments. And still, many business transactions today continue to be inefficient, costly, and vulnerable, affected by many obstacles.
This is exactly part of the reason why BINCOIN has come into existence to transform the financial system

Cash is a largely useless form of payment because it limits us to nearby transactions and relatively small quantities. But with the presence of BINCOIN project, transactions will be made among the members and users of cryptocurrency around the globe

Also the time between transaction and settlement may be long as a result of manual and tedious confirmation process. With BINCOIN platform, transaction confirmation and processing will be automatic and thereby increasing the speed of transaction

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There is also high risk of duplication and inefficiencies are further fueled by the need for an escrow validation or the presence of intermediaries. BINCOIN platform will eradicate the need for third-party services in every transaction

The cost of complexity of doing business is high because of the possibility of fraud, cyberattacks and even easy human mistakes. All participants inside the traditional community are exposed to risk if a principal system, including a bank, is compromised. BINCOIN platform is designed to reduce the risks involved in transaction within the members of its community.

Credit card corporations benefit from the walled gardens that they created, while traders pay a excessive price of entry and ought to deal with a massive volume of office work and go through a time-consuming vetting system.

Larger percentages of the world’s populace doesn’t have access to a bank account and must use alternative payment techniques to conduct transactions. This is one of the difficulties and problems that BINCOIN platform has come to solve.. Not only that BINCOIN has introduced an advanced security system to safeguard the funds and assets of it's customers

Besides that, transaction volumes internationally are going via the roof. The growth of ecommerce, in-app purchases and mobile banking will clearly add greater complexities, vulnerabilities and expenses to the current transaction structures.

To tackle the rising demanding situations, the world needs quicker, transparent and more honest payment networks that require no special equipment, doesn’t have chargebacks or month-to-month fees and gives a collective solution that guarantees the best level of safety and trust.

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Blockchain era and P2P lending appear to be natural allies. Blockchain will have a definitely transformative effect on the P2P enterprise because it gives more visibility, efficiency, and scalability - and doubtlessly, lower prices. Using blockchain-powered smart contracts could allow P2P companies to validate transactions, confirm the legitimacy of counterparties, and perform ordinary account administration tasks nearly momentarily, lowering costs and accelerating the strategies.

BINCOIN platform is designed to offer high level of security and transparency to the cryptocurrency ecosystem

BINCOIN is also designed with a pay chat feature that allows member of BINCOIN platorm to chat within themselves.

Users of BINCOIN platform will be able to transact with the use of their FIAT currency which this will reduce the stress of cinveraion later on.

BINCOIN token adopted by the project will be use for several activitea such as withdeawal fees in the system. More information about the tokens below

BINCOIN TOKEN DETAILS
Token Symbol: BINCOIN
ICO Token Supply: 50,000,000
Pre-mine Token: 100,000,000

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