Can a platform or a company have a cryptocurrency or digital asset that is dedicated for their use alone?
Yes, it is possible – and the Reed Elsevier Coin (RELX) proves that to be true. This is a cryptocurrency that will be used for facilitating most of the transactions in Reed Elsevier.
But, how did the idea or concept of creating a crypto coin come about? Isn't Reed Elsevier one of the companies that were kicking against the use of cryptocurrencies in whatever form as payments?
Read on to find out why this project is using the Reed Elsevier Coin (RELX) to set an example for other institutional buyers and investors that may be interested in cryptocurrencies.
The Platform Cryptocurrency Concept
As mentioned earlier, the Reed Elsevier Coin (RELX) will be a platform cryptocurrency in the sense that it will be the native cryptocurrency that the associates or business partners of Reed Elsevier will use to pay for products and services that the company offers.
Existing Challenges with Institutional Investors Investment in Crypto Assets
Although only a few institutional investors were intrigued by Bitcoin at the onset, the others waited to be sure that it is worth the investment.
With the opportunities created by cryptocurrencies increasing by the day, it makes sense that futuristic institutional investors should start looking for more opportunities in the crypto industry.
That doesn’t appear to be happening as fast as expected because of the current challenges associated with cryptocurrency investors.
Some of the existing challenges are:
Security concerns on whether the crypto assets are free from the claws of cybercriminals who may make moves to steal the assets from the owners’ digital wallets.
The medium of transaction needs to be devised so that investors from countries that frown on cryptocurrencies can trade their favorite crypto asset classes.
In light of those challenges, the Reed Elsevier Coin (RELX) will address them in the following ways:
1- Greater Security
Security of your crypto assets and your personal information/data is taken seriously by Reed Elsevier. By that, we are looking at the provision of advanced security mechanisms that include SSL Encryption, encrypted private keys, and a progressed security system.
2- Faster Transactions
The era of lags and delays in transactions is gone now that the Reed Elsevier Coin and its underlying blockchain network have been launched to address the problems.
Therefore, you can be sure of sending the Reed Elsevier Coin or any other crypto asset class to someone many miles away – and it will be remitted in the shortest time possible.
In addition to that, the Reed Elsevier Coin team already partnered with many Peer-to-Peer (P2P) cryptocurrency traders so that you can buy your favorite crypto assets without having to bother about the problems associated with passing regulatory checks.
Final Thoughts
I am optimistic that the Reed Elsevier Coin (RELX) is more than just a cryptocurrency that doubles as a platform currency for Reed Elsevier.
Instead, it is a digital asset class that is convincing and will make more institutional investors see reasons to invest in cryptocurrencies.
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