Ex-International Accountant Innovates a Way that will Revolutionize Special Financial Sectors Forever
How would you feel if you could directly convert cash to cryptocurrency or vice versa by using a casino concept from the 16th century? Ex-International Accountant, Thomas Bowen innovates a way that utilizes this concept and will revolutionize special financial sectors forever. The special financial sectors here are online casinos and the online gaming industry. Furthermore, once the casino concept solidifies, there’s a plan to expand it to other financial institutions as well.
Traditional Banks have always taken advantage of you. How? Making profits from your money. They do this when inflation strikes the country. Moreover, they say that your funds are safe with them but this isn’t true. This is a lie because they are prone to hacks and robbery especially if they are just starting out.
Then the fintech concept came into place. For fear of being left out and getting thrown out of business, the traditional banks implemented their own version of fintech. However, the user’s data was never safe. Even with the KYCs integrated into their systems, malicious people always get the opportunity to get access to the user’s information.
Enter blockchain technology. This new innovation is quite different from its former counterparts (Web 2 and Web 1 technology). The decentralized ledger technology (also, the blockchain) is more secure, more transparent and it’s almost hack proof.
A New Fintech Era is Born
Crypto Fiat Exchange Networx (CFXN) is a Distributed Ledger Technology platform that allows you to buy, sell, trade, hold, and transfer fiat and cryptocurrency from one account holder to another in a secure, private, and closed-loop network.
Unlike other DeFi platforms, CFXN is unique. How is it unique? CFXN uses the casino token concept in its immutable smart contract. As a result, you can exchange crypto for cash or cash for crypto without any third-party exchange or payment platform.
All financial industries dealing with cryptos will use CFXN’s services. But first, Here’s an example of how CFXN works when it comes to online betting and casinos:
Assume a player wants to place a bet in Euros (as required by his betting company) but only has cryptocurrency. He will have to pass the cryptocurrency through the CFXN platform because the player and the betting company have CFXN accounts. The immutable smart contract of Crypto Fiat Networx instantly converts the cryptocurrency to CFXN tokens and then the tokens to Euros, and the player places his wager.
When a player wins a bet, he is paid in Euros. The same procedure will be followed if the player wants to convert the Euros back to Crypto. The CFXN smart contract converts Euros back to CFXN tokens and then to the preferred cryptocurrency. As can be seen, both parties use assets they desire for payment and receive assets in the form they wish.
The CFXN token
The CFXN token is the token that governs the Crypto Fiat Networx platform. Its current price is $0.20. This token already has an investor that has put in $150,000 in support of the CFXN’s network growth.
CFXN is currently looking for more investors to continue expanding and upgrading its services. Potential investors should reach out to one of its CEO and CFO through tdb@cfxnx.com
Final say
By emulating how casino chips work, CFXN came up with a token transfer solution where crypto and fiat are converted to tokens which are then transferred to the receiver’s account. You can then reconvert these tokens into crypto or cash at a fraction of the cost of a single transaction with credit cards and banks.
