The inability of money to act as proper means of storage of value as well as its other deficiencies have made man to consult with additional tools to help in the accumulation of wealth that cannot be depreciated.
Financial houses and investors alike have sort solace in Gold, properties, shares and other equipment to avert the painful pangs of inflations on their money.
No doubt change they say is the only constant thing, and ever since the advent of digital currencies and Blockchain technology various research has been going on to see if the loopholes in fiat currency can be erased entirely in cryptocurrencies owing to its peculiarities.
A New Era
In a bid to promote the amassing of wealth without the loss or decline in its value, Minexsystem founders of Minexcoin came up with a Four Function Development Strategy that any tool or equipment needs to undergo before it can attain the status of money.
Minex System has been in existence for a while, founded in Hong-Kong; it has since its inception dedicated its time and resources to improving Blockchain services.
Some of the functions include the following;
Ability to Act as a Means of Saving and Accumulation: This by so far happens to be most basic and essential function of any means of exchange called money. It’s not just about saving or accumulating value, but doing it effectively to the point of eradicating or minimising any form of loss in its value.
Another function it should have includes its ability to be able to determine the equivalent value in other forms like goods and services. Just like Bitcoin and Ethereum serves as a benchmark to calculate the price and value of other altcoins as well as determine the rates or value in fiat form.
Furthermore, there is the function of the instrument to be able to serve as a means of payment in exchange for goods and services or to settle a debt.
Lastly, there is the vital function of the instrument to be able to carry out the purpose of circulation, which prevents monopoly and avoid money from staying long in the hands of few people.
This function is highly crucial as anything used as a medium of exchange must allow the flow of goods and services in the market.
Minex System taking the Lead with Minexcoin
Minexcoin believes that it has what it takes to become the future means of exchange worldwide. As such, it is working generously towards carrying out the listed functions above.
The MNX System has an autonomous algorithm that can smoothen volatility; the product is responsible for proper saving and accumulation of wealth. It also has a tool called ‘parking’ which also allows holders of MNX to keep and receive interest as high as 70% on asset annually.
To strengthen the issue of equivalent value, MinexCoin Team stated that a competitive advantage needs to be developed in other to make Minex more viable than Bitcoin as an instrument used to determine the value of other Cryptocurrencies in fiat currencies.
The Ownbank card, for example, is serving as an equivalent value in the Minexcoin ecosystem; making it possible to pay with MNX anywhere even in areas that do not provide for such payments.
It hopes to integrate the digital and real world through the invention of Atomic swap technology that facilitates buying or exchange of digital currencies into MNX or other cryptos.
The company is also proposing that Minexcoin will step down the issue of gradual complex development of the project. As users will have the option of MinexMerchants and MinexMarklet to choose from after the coin has been made equivalent in terms of its value.
A platform called MinexPlatform mainly for startups and developers that will be launched somewhere around July/August will be used by MNX to promote its availability regarding circulation in the hands of users.
Still in the Process
The dream and vision of MNX is still in the pot cooking as it has a huge goal of becoming integrating real cash with digital currency concept as unfortunately only the first listed function has been achieved.
The company also has a plan to unveil a Minexwallet soonest as that will be the starting point of awakening the slumbered functions to life.
Although this might seem almost impossible to achieve the team has however aired its positive hope on its accomplishment based on the warm welcome from the market on its first product.
For More Information Visit: