The Blockchain technology which started with the invention of Bitcoin in 2009 is well over a decade old now. And has seen massive growth with over a trillion market capitalization and is continually adopted in various sectors of the world economy, due to its incredible features and its ability to offer solution to the most complex of issues.
Cryptocurrencies have evolved into an appropriate medium of exchange, unit of account and store of value; these characteristics have made them a reliable alternative to fiat money.
On the other hand, there are still some challenges limiting its adoption which must be conquered before it can attain full mass adoption. Some of the challenges are listed below.
One of the major challenges of crypto is the threat of theft or loss of private key. Due to the decentralized nature of cryptocurrencies, some people have described it as the Wild West, as a lot of theft and fraudulent activities go on unchecked. Many users are vulnerable to these fraudulent activities, as stolen funds are usually very hard and nearly impossible to trace, because there is no way they can be identified after loss.
Permit me to introduce an amazing project that seeks to tackle the pressing challenges in the crypto industry.
OkGlobal Coin SWITCH
OkGlobal coin SWITCH is an innovative Blockchain based project that aims to completely disrupt the financial institution by revolutionizing the whole system (exchange and payment processing). It is the first of its kind, as it is the only international compliant Blockchain project to ever exist. The primary aim of OkGlobal is to provide long lasting solution to the various pressing issues in the cryptocurrency and financial industry, through transparency, security, reduced fees, swift payment and regulations, thereby increasing the rate of crypto adoption globally.
In addition, OkGlobal is equipped with another amazing project called My identity Coin (MYID), which aims to eliminate the risk of theft and loss of crypto coins through its exclusive wrapping technology that issues users with unique owner identifying code.
Advantages of OkGlobal Coin
OkGlobal Reduce/eliminate processing fees and costs
OkGlobal ensures swift reconciliation of payment
OkGlobal eradicates devaluation of currency
OkGlobal enables swift conversion of crypto coins to fiat currency to hedge against loss from market volatility
OkGlobal helps users regain control over their funds
OkGlobal offers participants opportunity to hold a crypto asset back not by speculation but by real life investments, profit and valuations.
Profits from the platform are not pooled by the team but allocated to participants on the basis of their allocated funds.
OkGlobal possess three coins with different purposes and use cases. They are as follow;
OKGLOBAL SECURITY COIN (OKGSG & OKGUS): They are TRC21 tokens, which mean they are built on the Tomo Blockchain (Tomochain). OKGSG & OKGUS are security coins designed only for accredited and qualified investors.
SWITCH STABLE COIN (SWCH): This is a stable coin built on the Tomo Blockchain specifically designed to aid merchants and consumers transaction. It is 100% backed by switch stable reserve at a 1:1 ratio.
MY IDENTITY COIN (MYID): MYID coin is a utility token built on the Ethereum Blockchain (ERC20), to serve the function of tagging and wrapping Blockchain coins with unique identity codes to eliminate risk of theft and loss.
For more information on this project check out the following links
MY Bitcointalk details
Bitcointalk Username: Odukoyaewatomi27
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2342515
ETH Wallet: 0x27ffeB6AfcA0E33A4be1df5C7A3c40Aa6333f0ca
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