Introduced as a decentralized financial ecosystem created on a proprietary technology core, The BridgeX Network is designed to link the crypto and fiat worlds. This platform is going to offer decentralized credit, payment, and exchange solutions between fiat money and cryptocurrencies. That’s how this platform is going to promote unparalleled interoperability.
BridgeX Network is going to feature a highly feature-rich and advanced platform for traditional financial institutions and fintech-blockchain so that they can be a part of a whole new economy. The third-party distributed apps can also work within the BridgeX Network and serve its participants for their demands related to crypto and fiat currencies.
Issues BridgeX Network wants to resolve?
The crypto industry has grown pretty fast in the recent years. Though more and more investors are getting attracted towards the crypto market, it is still not as popular as fiat currencies. The fiat money prevails instruments for loan collaterals and bulk of transactions which take place across the globe. Just like the investors in traditional exchanges, the crypto traders quite often require two important things:
- Real world cash flow
- Global payments
Hence the number of crypto investors is increasing pretty fast, the demands of crypto to fiat conversion is also increasing with the same speed. Crypto assets are not as liquid as fiat assets. Therefore, converting cryptocurrencies into fiat money seems like a cumbersome procedure. Fiat money is the most popular form of money and that’s why cryptocurrency investors also require a short amount of fiat capital to fulfill their needs. Crypto asset holders often face troubles due to low liquidity and this issue should be resolved as soon as possible.
The solution offered by the BridgeX Network:
This platform is offering decentralized solutions for credit, conversion of crypto into fiat, and payments. The BridgeX Network will essentially enable fully decentralized crypto to fiat currency conversion, and crypto-to-crypto collateralized currency lending. It will also make cross-border payments easier for all the investors.
There are three key components of the BridgeX Network, which are as follows:
- BridgeX Core
This platform is using the advanced technologies such as smart contracts, on-chain loan matching service, an oracle to gather off-chain information of the loan contracts, on-chain loan matching and tracking system, and the integrated cash management module. The BridgeX Core is equipped with all the cutting-edge features that required to resolve the issues mentioned before.
- BridgeX Platform
As the leading proof-of-concept for the BridgeX ecosystem, DApps and Apps will be used for synergistic and compelling cash management solution. This platform will also aid the third-party financial services to serve the participants for their needs.
- Third-party integrators
The BridgeX Network is introduced mainly to offer the crypto industry a solutions for increasing liquidity and resolving the issues affect this industry. In order to collaborate better, this platform will invite traditional financial services which are planning to enter in the crypto industry. This platform will welcome third-party DApp developers to use its core technology to add new solutions.
All in all, the BridgeX Network is intended to be a global network of fintech, investors, traditional financial institutions, and crypto investors. Partners can use this platform to entertain other users and resolve their financial issues. It promises to ensure a smooth conversion of crypto and fiat currencies.