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Name Token: Zedxion BEP-20 and Zedxion ERC-20
ZEDXION- powered digital currencies, or cryptocurrencies, hold the massive potential to disrupt the financial market they can be issued and used without the involvement of a central bank of other traditional financial institution.
All fiat money in circulation today is owned by the central and commercials banks of the underlying currency’s legal jurisdiction, except for cash that is in the hand of individuals. The bank holds liability to the depositor but can utilize the depositor’s money to give to another individual as a loan.
The current monetary system, driven by fiat currency, is plagued by serious problems like time-consuming and expensive transactions, limited accessibility to the national currency, money-laundering, and more. The following points elaborate on the problems with fiat currency.
High Transaction Settlement Time
As with fiat currency, domestic and international money transfer takes days or even weeks to go through. Specifically for international transactions, every cross-border transaction but to traverse through correspondent banks responsible for managing activities like receiving and collating payment messages before retransmitting confirmation or denial to respective banks. This increases the settlement time of transactions.
Today, many businesses rely on timely deliveries which are shipped when the transactions are processed. A delay in transactions means a delay in the shipping of orders that can cost companies millions in lost revenue and productivity.
High Transaction Fees
Conventional banks charge somewhere between 0.5 percent and 5 percent to transfer money. Apart from this, banks also charge an additional one-off fee for the transaction and offer worse than the market exchange rate for cross-border transactions.
This can result in businesses losing between 1 percent and 5 percent of potential earnings on transfer fees alone. This elevates the prices of products for consumers and reduces wages as businesses try hard to cut cost to make a profit.
A major problem with fiat currencies is hyperinflation. Hyperinflation occurs when the price of goods and services increases by over 50 percent a month. As the governments control fiat currency, they can print as much new money as the like which devalues the money in circulation.
Arbitrarily increasing the quantity of currency in an economy has an adverse effect on the distribution of money and, thus, redistributes purchasing power, stealing wealth from majority, such as wage workers and savers, to serve the interest of a privileged minority. Redistribution of wealth leads to a net loss of wealth to society. Government deficit spending, which should otherwise be motivated by good intentions, alters the quantity of currency in circulation and result in currency debasement.
Zedxion offers a comprehensive solution to the major problems faced by the traditional, fiat-driven monetary system. Zedxion envisions building a crypto- powered ecosystem comprising Zedxion Token, Wallet, Trading platform, Point of sale Platform and more to effectively replace fiat currency while empowering users to harness the power of crypto in all types of transactions- from trade finance to international payment remittance to trading.
Zedxion Token will be an TRC20 and BEP20 and TRC10 Token that can be bought in exchange for BitToken (BTC), Ethereum (ETH), (LTC), Tron (TRX) and Doge. The sale of Zedxion Token will be carried out in two phases- Public Sale and Private Sale. While Private sale will be for the team and Advisors, The Public Sale will allow anyone across the globe to participate in the sale and buy Zedxion Token.
Designed on Tron ZEDXION, Zedxion Token will allow for accelerated transactions and lower transaction fees, Zedxion will play a chief role in driving transactions on all Zedxion platform, such as Zedxion Trading Platform, Zedxion Point of Sale System, Zedxion trade finance. Zedxion Token will also be the backbone of the Zedxion referral and reward program.