Blockchain-based Debit Card Infrastructure Startup MoxyOne Makes ICOs Instantly Spendable
Originally published on: CoinSpeaker
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March 28, 2018
MoxyOne, the blockchain-based debit card infrastructure startup that gives investors the opportunity to spend their crypto coins at merchants, is conducting its SPEND token sale. You have an opportunity to get a token at a 15-percent discount till April, 15.
Nowadays, the future of money is considered to be in cryptocurrency. But the jump from cash to Cryptocurrencies is so huge that an intermediate buffer to smoothen the process is needed. In the conventional financial system, our credit and debit cards are accepted by millions of POS machines worldwide, allowing us to spend the money we have in the bank. Cryptocurrencies, on the other hand, still require some technical expertise and the adoption is not yet there. To whip out your card and spend your cryptocurrencies with any of available POS systems worldwide, MoxyOne was designed.
MoxyOne is a blockchain-based debit card infrastructure startup which developed a crypto debit card, ideal for quick and painless crypto spending. MoxyOne gives investors the opportunity to use their coins for purchases by utilizing the MoxyOne wallet system to spend tokens at merchants, or withdraw fiat from ATMS around the world.
Once you get your card issued from MoxyOne, you can start spending your cryptocurrencies seamlessly. While making a purchase, your crypto is immediately converted into fiat and sent to the merchant’s bank so both you and the merchant do not have to deal with Cryptocurrencies.
The specific feature of MoxyOne is that ICOs can partner with them to issue their own branded debit cards. ICOs can ship these out to their investors immediately after the token sale is done so that they can start spending them instantly. These cards, like MoxyOne’s cards, are usable in millions of outlets worldwide.
MoxyOne cards have an option to hold a wide variety of tokens along with their own token, SPEND. There’s a small fee every time you make a transaction which is taken in the form of SPEND, making each token valuable because there is a limited supply of SPEND.
It is necessary to decide on which token to spend when you’re making a purchase. MoxyOne takes care of this with their special technology, MoxyAI. It tracks the prices of all cryptocurrencies in real-time and decides which crypto to spend taking into account multiple factors. For example, you hold ten different coins out of which NEO gained the most today. MoxyOne decides this is the best cryptocurrency to spend as you might want to HODL the others that just decreased in price.
Also, on the back-end, MoxyOne will be deploying Raiden Network for faster transaction speeds and has a partnership with Gladius for DDoS Protection. In the future, MoxyOne will work towards Commit Network Integration for Cross-Blockchain Interoperability.
MoxyOne has partnered with Cryptocurrency exchange, Cobinhood, where tokens can be traded immediately after the ICO has ended. This provides liquidity and supresses price manipulation, which has been a common issue with most ICOs in their early days.
On March 14, MoxyOne launched the official token sale for its SPEND token.The goal of the token sale is to raise a minimum of 4,000 ETH to support the development of this payment network–which will empower users to make purchases at brick and mortar stores using their cryptocurrency portfolio.
The project has set a hard cap distribution of 50 million tokens during this phase, and all funds received from the ICO will be used for the development of the MoxyOne Project. Investors can get a bonus of up to 15% for the first few weeks.
MoxyOne ICO will continue until April 15th.