FuzeX - FXT - is a project aimed at producing smart cards based on a chip EMC - for payments with popular cryptocurrencies from the group Ethereum, BitcoinCash, Dash whether FXT or standard currencies - in stores or online - with better uses than competing type projects TenX or MCO. It is an extended version (with cryptocurrencies) of award winning multi-cards Fuze.
Who creates FuzeX?
The project comes from South Korea, which includes more than 40-personal, international team consisting of blockchain technology specialists, marketing and business strategists and programmers - at the forefront of which Andrew Bae, Michael Park i Daniel Kim.
from the left: Andrew Bae, Michael Park, Daniel Kim
Who promotes FuzeX cards?
from the left: Dr. Moe Levin, Charlie Shrem, Roger Ver
Technology and capabilities of FuzeX cards
The card from FuzeX is supposed to be the so-called smart card for everything - to which 15 will be able to connect debit, credit or loyalty cards and to 15 currency crypto portfolios. The card will be encrypted, protected by two-level authentication and interacted with the smartphone app. Pairing cards will be done by scanning them with a reader and uploading to the application. It will support most of the most popular methods - as a magnetic card, EMV system, or proximity chip NFC . The battery that supplies the card has to work on 30 days, and then you will need to recharge it.
How is the FXT card supposed to work in practice?
With the card loaded with supported cryptocurrencies (or conventional currencies), we go to the store and:
- Through a small screen available on the card - directly there - we enter the PIN and we can view our accounts along with the immediate conversion of cryptocurrencies to conventional currency based on the average of the exchanges (the algorithm has not yet been determined)
- Then when we are at the cash register - the same as with conventional cards, we make payments eg contactless - at this moment the system checks whether we have funds on the account and authorizes transactions, which we receive confirmation in the application on the smartphone
It reminds me of a very convenient way of operating a multi-currency card Revolut (of course, without access to cryptocurrency payments)
What are the FXT Tokens for?
1) the card can be bought only by paying with FXT tokens (the price is to be approx. 200 $)
2) using the FXT currency to pay - you will be able to have better transaction rates and no or lower fees
3) loyalty points program for using their FXT tokens (also plans to extend the offer as adopting tokens for loyalty cards eg when paying for hotels, plane tickets, cards for gyms)
Problems, controversies and current FuzeX activities
Currently, the team did everything they could and just waiting for the green light to be able to start selling cards that are ready. The problem is what competitive companies are struggling with - that is, waiting for BIN . Thus, on the telegram group, many people stop believing in the project, not understanding that it is not dependent on the team. However, this is only a matter of time, the project has recently received such permission MCO.
The team, however, does not worry about the so-called FUD (fear, uncertainty, and doubt) and does its job:
He signs a contract with the project BitcoinCash - where automatically a business advisor becomes mentioned earlier Roger Ver. This is an important partnership because it involves abandoning the payment offer on the card via Bitcoin.
Next - concludes a contract for partnership with Dash.
As you can see, these are top projects cryptocurrency ranking, which proves that FuzeX knows what he is doing and is taken seriously.
Currently - FXT tokens can be purchased e.g. on the stock exchange with a 0% commission - Cobinhood