ACX NETWORK -  Decentralised financial Inclusion

INTRODUCTION

Ever since Bitcoin appeared following the financial crisis of 2008, crypto and blockchain enthusiasts have been optimistic about the potential for blockchain technology to usher in an era of economic efficiency and inclusivity. Yet, while a vanguard of technologists focus on designing distributed cryptosystems to empower the people, 2 billion unbanked adults, that affect a total of nearly 6 billion lives are waiting on the sidelines. For these people engagement is forestalled by the following:
• Financially, a lack of local exchanges precludes individuals from ’buying in’ to crypto-networks
• Technologically, the lack of smartphones and internet access precludes individuals from practically utilizing crypto-network development and ’working in’ to the crypto economy.
Atlas Money is a P2P branchless banking platform that allows anyone to become their own community micro-bank. Atlas Money Agents go door-to-door daily to Atlas Money Users collecting deposits, issuing withdrawals and offering microloans.
Atlas Money is leveraging its mobile banking platform and the borderless, programmable nature of cryptocurrency tokens to launch the ACX Network, a self-sufficient token economy that incentivizes participants in the developing and developed world to create value for one another.
Participants will utilize ACX in democratic decision-making processes that direct incentives towards projects that contribute utility value to the ecosystem. This will allow users to continually define, price, and reward utility as they see fit. A suite of smart contracts deployed to the Ethereum blockchain will transparently mediate this process, enabling diverse sets of stakeholders to collaborate in a trustless manner. Participants can also upgrade components of the smart contract architecture using a democratic procedure, which itself is upgradeable.

To align interests among developing world users, developers, and developed world users, ACX will be distributed through the Access Underserved Exchange (AUE), Incentive Pool, and a Token Generation Event.
The AUE serves as a fiat/crypto exchange for underserved populations in the developing world. Atlas Money will integrate the AUE into its mobile banking platform to circulate ACX to customers while providing downside protection to eliminate volatility risk.
The Incentive Pool rewards participants who contribute to the Access ecosystem. Token holders will use trust less decision-making procedures to decide which projects to fund and how to price them.
The Token Generation Event will enable private contributors to join the network by purchasing tokens.
These three access points constitute the liquidity channels that will facilitate the adoption and continued development of a truly inclusive token economy.

WHAT IS ACX NETWORK?

The ACX Network is a self-sustaining token economy that empowers participants to define financial access for themselves. Participants are incentivized to create long-term value for one another by democratically controlling the distribution of the Network’s Incentive Pool. These interactions are enabled by a modular suite of smart contracts that self-amend and distribute funds throughout the ecosystem according to the will of the network. The ecosystem consists of five core layers:

1. ACX utility token
2. Governance Protocol
3. Incentive Pool
4. Decision Modules
5. Off-chain services
   ACX Network’s Founding Principles of Empowerment:
6. Financial access is a fundamental human right.
7. That right shall be perpetually developed through a properly incentivized ecosystem.
8. Decisions on the ecosystem’s evolution shall be equally accessible to all citizens of the world.
9. The previously excluded shall be more empowered to define and shape said evolution.
10. Humanity is a global family that must come together to realize its boldest ambitions and co-create a world that belongs to and benefits us all.

ACX Advantages

• Instrument portfolio -ACX offers trading in Bitcoin, Bitcoin Cash, Ether and the relatively new alt-coin Hcash (HSR) against the Australian dollar.
• Zero trading fees — Most cryptocurrency exchanges charge a trading commission, but not ACX.
• 1% withdrawal fee — ACX charges a 1% withdrawal fee for fiat currency to a bank account.
• Trading platform — ACX does not offer trading platforms like the ones usually provided by the forex brokers, with all the bells and whistles, the platform of ACX has the most necessary features. It offers candlestick price charts, order book and the option to place and cancel already opened orders.

The Team
Mickey Costa: Co-founder Techstars; Boost VC; Serial Entrepreneur;
James Shuler: Co-founder , CTO of Eligible

Token Metrics
Total Supply — 6,000,000,000 ACX
27% Token Generation Event
27% Access Underserved Exchange
27% Incentive Pool
12% Founders
4% Advisors
3% Community Rewards

Verdict

Pros:
ACX has managed to become one of the leading Australian cryptocurrency exchanges. It boasts a global network of order books that provides deep liquidity and to be the largest Australian cryptocurrency exchange by volume.
ACX are the relatively attractive trading conditions with the 0 trading commission and the fixed 1% fee for withdrawal of fiat currency to a bank account.
Cons:
ACX is that it only works with Australian bank accounts and does not provide other deposit and withdrawal options for fiat currencies. This is a major inconvenience and practically makes it next to impossible for people residing outside of Australia to use ACX’s services.

REFERENCE

Whitepaper: https://acxnetwork.com/whitepaper.pdf
Website: https://acxnetwork.com/#second