Modern Finance Chain - Bridging the Cryptocurrency Gap between Consumers and Merchants
Seriously, when was the last time you paid for goods or services directly with cryptocurrencies?
It’s either you know nothing about cryptocurrencies, scared of going in that direction or you’re discouraged because of the limited number of merchants willing to accept cryptocurrencies as a means of payment.
In our world today, it’s very difficult to buy goods or services directly with cryptocurrency. Not because it’s impossible but because of growing number of concerns on the part of the merchants and even consumers. Concerns like the volatile nature of cryptocurrencies, high transaction fees, and the speed of transactions in general.
One of the most things to do when spending cryptocurrency is to first convert them to fiat currency in an exchange and then use the fiat currency to pay for goods or services. Despite the growth of digital assets and cryptocurrencies in recent years, these concerns are making it very inconvenient for a consumer to pay for goods or services with their cryptocurrencies.
What if there’s a solution that allows you to spend your cryptocurrency directly without needing an exchange?
With this solution, you can cut out exchange fees, payment gateway fees and get your transactions processed instantly from cryptocurrency to fiat and vice versa. These and more are the Modern Finance Chain (MFC) solutions to digital currency adoption by both consumers and merchants.
Modern Finance Chain (MFC) is a smart contract platform integrated with payment system and a reward program for both merchants and consumers. MFC is building a digital economy where you (as a consumer) can buy any goods or pay for services with any cryptocurrency at your favorite merchants and get rewarded for doing so.
MF Chain Merchant Reward System
As a merchant using MFC innovative technology, you are free from Merchant banks, chargebacks, interchange fees, assessment fees and any other fees that can will reduce your profits. You’re presented with multiple fiat conversion options and you also get a percentage of your transactions as a rebate.
MF Chain Consumer Reward System
As a consumer on the MFC payment ecosystem, you have the freedom and option to pay your favorite merchants in multiple cryptocurrencies without depending on any exchange. As a consumer, when you spend MFX Tokens using the MF Chain processing solutions at a merchant, you’ll automatically receive a one percent rebate paid back into your wallet once in a month.
Sample Use Case
Consumer, Ade, requests to remit payment using cryptocurrency. The cashier then enters the total purchase into an MF chain mobile device and shows Ade an onscreen QR code. Ade scans the code with any available multicurrency or single cryptocurrency wallet e.g. Coinomi on his mobile device and the transaction is confirmed in seconds. Ade is happy. Merchant is happy. It’s as simple as that.
MF Chain ICO Dates
The MF Chain KYC and private offer is now on (from April 4th to April 25th) and will end in approximately 12 days. You need to pass the KYC and be whitelisted for the token sale. You can apply on the (MF Chain Website](https://mfchain.com). Presale will start on April 25th and end on May 15th. The ICO will then start on May 15th to June 15th.
For more information about the project, check their website, Telegram, Twitter, Medium, ANN Thread, and Whitepaper.
ETH address: 0x2930eCDBF85120a0225290dA7BD42383B5dF2b8B
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The experts (especially Andreas) emphasize the importance of making purchases and receiving payments in crypto. I pan to set aside time to research this area in depth. Thanks for this article. First I hear of MF Chain.
You're welcome. I am working on the second part of the article. MFChain is a very interesting project.