MoxyOne: Your Next Fiat Money in Your Wallet

Today’s world is into digitalization, a revolution of digital technology with the blockchain technology. And we were made to believe cryptocurrencies are one of the biggest steps today’s society has taken to go into digitalization, but we are not quite there. For sure, bitcoins and other altcoins have become a household name after it surged at the end of 2017. But still we have not been able to fulfill the objective of the cryptocurrencies which is to replace the fiat money and it is the biggest problem. We are not able to utilize the cryptocurrencies just like we are using the fiat money. We need something that can be used as fiat money and MoxyOne is the answer.

What is MoxyOne(SPEND Token)?

MoxyOne known as SPEND token is one of the few cryptocurrencies that have the real-world use. MoxyOne will issue a wallet and a debit card that can hold different types of cryptocurrencies. A user can use this wallet/card to perform to buy goods and services from anywhere in the world and pay using the cryptocurrency that his/her wallet is holding. It also allows to directly exchange cryptocurrency into fiat money from the ATM machine anytime and anywhere.
Source: MoxyOne

But how?

Let me provide an example to show how can MoxyOne used as a fiat money. Let’s say I went to apple store to buy iPhone X here in California which doesn’t accept the cryptocurrencies. I don’t have any cash but MoxyOne card that holds my cryptocurrency. I can easily pay the seller using my card. The seller can use my card as regular debit card and deduct the amount of the iPhone X from my card.

Surprised?

There are many things happening when the seller swipes the card. At first, the cryptocurrency I hold will get converted into SPEND token and to USD which is my local currency using the exchange rate at that instant. The sellers will get the amount of iPhone in USD and an equivalent amount of cryptocurrency is deducted from my wallet.

Who is behind this?

There is Liquidity Provider(LP) involved in this transaction. LP can be an individual or organization and they will provide a buffer bank account in any locations. In above transaction, LP was responsible to deduct the cryptocurrency from my wallet and pay to the seller. Later LP reimburse with the MoxyOne after taking some transaction fee. Thus, LP is responsible for running these transactions and keeping the system active by linking between the seller and the MoxyOne. And in each of these transactions in the MoxyOne ecosystem, SPEND token is required.
These processes are explained in the image below:

Source:MoxyOne

MoxyOne Token Sale

The MoxyOne token sale is already live from March 14, 2018, and will end on April 15, 2018. The maximum supply of the SPEND token is 50,000,000 SPEND and no new tokens will be created. At current prices, the cost of 1000 SPEND is 1 ETH, and there are bonuses available for first 3 weeks.

Source: MoxyOne

Why I believe it is worth investing?

There is no such crypto working in solving the problem of replacing the fiat with the digital currency. This seems to be an easy problem, but not any of around 1500 currencies are doing it. With more acceptance of cryptocurrency in day to day use, we will need some technology which will help us to use cryptocurrency like the fiat money. With the promising team experienced in blockchain technology, MoxyOne will make it possible to use cryptocurrency on a day to day life. Since the SPEND token is involved in each transaction, the early investors are certain to benefit from this.

For more information about the token sale and to buy SPEND token, visit here: https://moxy.one/token-sale

To know more about MoxyOne: https://moxy.one/

You can see the Whitepaper here: https://moxy.one/whitepaper.pdf

Sponsored Writing Contest for MoxyOne
https://steemit.com/cryptocurrency/@moworks/sponsored-writing-contest-moxyone-win-sbd

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