With mounting fears of inflation on one hand and a speculative bubble on all assets on the other, many are concerned about the inherent flaws in the financial system. Cryptocurrencies are yet to deliver an alternative as they’re mired by extreme volatility and, in some cases, a greater concentration of wealth than in the traditional world. However, it is obvious that blockchain and smart contract technology could be put to better use.
After years of low-profile development comes the announcement of AXIA Coin, an asset-supported digital currency. Its development team has designed it with all the characteristics of a global reserve currency. One that introduces an inclusive financial network that both stores and produces value for its participants. AXIA uses blockchain and smart contracts to build a monetary framework and technological ecosystem where users create value through decentralized activity.
As explained by AXIA co-founder Nick Agar,
“AXIA utilizes smart contract enabled network logic to move the industry forward in an attempt to bring decentralization and monetary transparency to bear in the ‘trustless’ world of digital currency. Doing so will seed the development of various new economic models built into its digital asset ecosystem to address the monetary and economic shortcomings of other digital token projects. We look forward to expanding its application to deliver value to people across the globe.”
The project relies on an expansive ecosystem of over 17 applications which offer compelling, decentralized alternatives to today’s most popular internet services. These range from a digital banking platform to a privacy focused search-engine. More importantly, the applications are designed to deliver constant value to users while they take part in them. This innovative model works even if the activity within the ecosystem is completely unrelated to the users themselves. An important aspect of the network’s approach to financial inclusion.
AXIA Co-founder Paul Ungerman added that,
“The applications, use cases, businesses and organizations that are connected within the AXIA Ecosystem are in place to deliver significant value to AXIA community members through decentralized activity and to provide positive social impact for people around the world.”
This main value proposition is what establishes AXIA as a different asset than those currently popular in the blockchain industry. The network’s value creation mechanisms and AXIA Coin’s asset-backed approach to fedning off volatility make it a safe haven among other digital currency projects. It’s inclusionary effects, on the other hand, make it a boon to emerging markets. Altogether, these characteristics present an alternative to the centralized financial system and a better to the current state of the blockchain and cryptocurrencies industry.
AXIA Project Links