Flying Money Ethereum backed platform will manage cryptocurrency volatility

As the world accepts blockchain as an innovative reality, and crypto currency like bitcoin being used as an accepted medium of exchange, there is still the current challenge of crypto volatility and forward price stability to enable cryptocurrencies to be used for everyday transactions.

One innovative company with deep management understanding of banking, payments and blockchain believe they have solved the volatility problem. Flying Money has entered the market with the tokenization of currencies and assets, but with key differentiators and improvements that protect customers and the digital exchanges who will use their asset tokens. Combined with its management strength with key members running listed companies and having managed billion-dollar P&L’s, the team have engaged international expert legal and accounting firms to bring legal security to customers, so they know their asset tokens are really what they say they are, and backed by the real assets as stated.

“We found when we read terms and conditions of many asset backed tokens, the provider simply stated the tokens would be registered on the blockchain and be irrefutably correct due to the decentralized ledger. Although this is correct regarding how many tokens there are on issue, it does not substantiate the asset that is actually backing the token, or that the asset even exists, or is actually owned by the token holder”, stated Russell Hatton, Managing Director, Flying Money Limited.

Flying Money’s solution is not only blockchain based, but also real world based with a full audit by globally recognized accounting firm Ernst and Young and the legal and regulatory structure of Flying Money advised by King & Wood Mallesons, with an independent trust set up to solely manage token holder’s assets which are 100% backed by the issued token.

Although some old-world rules are used regarding audits and the legal framework to protect customers and digital exchanges that use the Flying Money asset backed tokens, token holders enjoy the benefits of blockchain and cryptocurrencies with costs at a fraction of banks and transactions being done in seconds rather than days.

Investors can tokenize cash, commodities, securities or any financial instrument and sell it on the blockchain cutting the banks out and reducing their high fees and long processes to transfer assets. The approach of Flying Money is to tokenize these stable assets and enable customers to forward price goods and services and pay for and remit money as needed anywhere in the world in multiple currencies, or asset classes such as commodities, bonds, or real estate.

“In effect we have taken the best of both worlds and combined them to make the most stable, secure and transparent digital assets for the mass market today” said Hatton.

Flying Money’s main competitor is Tether.io which has risen from a market cap of $300,000 to over US$1.2 billion. Flying Money views it can provide a safe, secure and structured alternative to Tether mitigating customers and digital exchanges concerns regarding the underlying asset backing with its clear and legally transparent structure.

Flying Money is currently undertaking a well-received pre-sale with its planned ICO March 2018. For more details refer to www.flyingmoney.io

The post Flying Money Ethereum backed platform will manage cryptocurrency volatility appeared first on Bitcoin Garden.

Komentar

Posting Komentar

Postingan populer dari blog ini

Blockchain Supply Chain Forum will be held on January 10th in Hong Kong

Gambar
The concept of a blockchain – a distributed, tamper-proof and time-stamped database of transactions that can be managed without intermediaries – is highly attractive in the supply chain domain, and the industry has launched a number of proof-of-concept initiatives. However, awareness of how blockchains work and what they can accomplish for supply chain is still relatively low. The lack of knowledge is exacerbated by the fast pace at which the technology is evolving. A success Blockchain Supply Chain Forum was held on October 24th in Shanghai, professional blockchain organizer EventLinker and Global Supply Chain Council will organize the Blockchain Supply Chain Forum on January 10th in Hong Kong, it is the forum connecting blockchain experts, supply chain and logistics decision makers and tech innovators. This intimate gathering will explore how companies are investigating the use and deployment of the technology to help their supply chains in China. Organizer: EventLinker EventLin
Baca selengkapnya

Transformation of education in post-industrial society

Gambar
Education has always been an expensive privilege; and the education sector has always been one of the most conservative. People chose profession once in their life and did not change it until retirement. Usually education meant studying at a university; self-taught people were rare. However, in the post-industrial society changes in the shape, sense and affordability of education finally began. According to Alvin Toffler, a well-known US sociologist, the emergence of the post-industrial society is a consequence of the intellectual revolution. The possession of knowledge and information will replace financial capital as the biggest value. Development of innovations, empowered by the most educated, will become the most important sector of economy. It means that high-quality affordable education will become even more important than now. The last time when the global education experienced a serious transformation was at the very beginning of the 21st century when the wide access to the I
Baca selengkapnya

After GDPR effect? In A Post Cookie World, Blockchain Is Rising

Gambar
The European General Data Protection Regulation (GDPR) was rolled out in May this year. It introduced far-reaching implications for companies which process personal data related to EU citizens. Even those far outside the EU could not fail to notice this change. Email inboxes were overflowing with opt-out reminders. Cookie banners now obscure many websites, forcing users to agree to a privacy policy so that they can browse the content on the site. Although the GDPR document itself clocks in at 88 pages, the majority of what it covers can be summed up in one word — consent. If companies are processing personal data, it must be done with the explicit, informed consent of the individual. For some forms of marketing, such as email subscriber lists, this involved minimal changes. Individuals already have to take the active step of providing their email addresses, and usually it is pretty clear why they are asked to do so. However, for the digital advertising industry, consent is far less
Baca selengkapnya