Since the boom of Blockchain technology and cryptocurrencies, many pioneers in the crypto market would like to create a new currency that would be accepted as a means of payment as well as use them to trade and transfer cross-border, bypassing any intervention from governments and central banks. So far, although cryptocurrencies have made substantial changes to the global economy, there is very little success for any cryptocurrencies to be widely recognized as “money” per se. It will take more time for cryptocurrencies market to stabilize and figure out how to compete with fiat currencies.
In the meantime, the world economy still functions with 164 official national currencies (fiat currencies), and the problem of sending and exchanging between these currencies still present. Only considering non-commercial transactions, the remittance market and money exchange market extract billions of dollars every year from migrants, international students, international tourists, etc. This happens because this market between these hundreds of different currencies depend almost solely on the centralized banking systems and financial organizations.
Cryptocurrencies may not replace fiat currencies just yet, but the technology behind them – Blockchain – is what we can use to make the difference in this market. By embracing the concept of an open, distributed global ledger, they created the ZeroBank platform, based on Blockchain and Smart Contract technologies to help customers in the money transfer and exchange markets reduce service costs substantially, and yet enjoy a secure and verifiable way to complete transactions.
The money transfer and exchange industry is not immune to the global movement towards decentralization and peer-to-peer sharing economies. In fact, these areas are poised to be some on the leading edge of those that thrive in this new paradigm. With the help of blockchain and smart contract technologies, along with the sharing economy model, ZeroBank will disrupt the outdated transfer and exchange models centralized around “too-big-to-fail” banking and MTO systems.
To learn more about ZeroBank visit https://zerobank.cash/
**Blockchain.Launchpad will be providing marketing support & general business development for ZeroBank.**
Remember: Participating in any ICO is an extremely risky venture. You could lose some, if not all of the money you’ve invested. Although ZeroBank is a customer of CIF’s Blockchain.Launchpad , we cannot ever guarantee the success of an ICO or speak to their ability to complete their project. Always do your own due diligence before investing in any ICO.