Fusion: New frontiers in cryptofinance and the Internet of Values
Usually, innovative solutions improve on the existing ways of solving problems, and in so doing bring about progress.
The blockchain faces two major problems of scalability and interoperability. Solutions proffered haven’t adequately solved these issues. Using the same methods that haven’t worked previously, and expecting different results is laughable.
This is why Fusion is tackling these issues from a different angle.
Fusion is not only looking to solve problems related to interoperability. Rather, they are building infrastructure/a platform for the cryptofinance industry and the Internet of Values.
Having cross-chain smart contracts ensure that value can be transferred from one blockchain to another seamlessly, efficiently, and at a lesser cost. These actually cover the major benefits for users and companies.
As it stands now, blockchains act as separate units, and the usual way cryptocurrencies can be exchanged from one form to another is via third party exchanges. These usually come with huge transaction costs, leading to a loss in value. Users also have to spend considerable time, ensuring that they could swap one cryptocurrency for another.
With Fusion in place, assuming cryptocurrencies of interest are locked-in on the platform, this becomes history.
Fusion doesn’t just create an enabling environment for existing currencies-it also plans for the future, and ensures that newer currencies that will be created in the future are seamlessly given a lease of life on the platform.
Use case One: Risk-free Token Loan
Programming commands can be written into smart contracts to execute tasks automatically. This serves as a trust mechanism, and users are able to take loans risk-free, as a result of this. The video below sheds more light on this use case.
**Use Case Two:** Risk free contracts market
In this scenario, financial contracts are tradable from one person to another without any risks, because it creates a layer of trust.
Watch the video below for more information.
**Use case Three:**Mortgage smart contract. In this case, users are able to offload their homes, and third parties are able to provide mortgages for buyers. These can be paid at low interests rates, over a large period of time. The video below illustrates how this works.
HERE ARE A FEW NIFTY TOOLS FUSION USES IN MAKING THIS A REALITY.
Fusion Token (FSN): Fusion tokens power the platform. Organisations can easily swap Ethereum based tokens for FSN, in order to transfer value within the platform, and across blockchains.
Time-Lock:This ensures that a token can be set to two different time frames; one part from the present to a set time in the future, and the other from that time to the end of time.
Short Address Notation: Short Address Notation acts like a digital address. It is much more shorter than BTC/Ethereum addresses. Hence, they are easier for users to memorise.
However, it is still linked to regular long addresses, which sees both function as one.
EasySwap: When organisations want to lock-in on the platform, the process of converting Ethereum based tokens to FSN is carried out easily. This process is known as EasySwap.
Fusion raises $50M in under 24 hours to create a token ecosystem
Singapore startup secures $12.3B in assets for blockhain platform
- Fusion is actively discussing with prospective partners. These can be grouped into four categories:Blockchain Project Companies/Foundations, Financial Institutions, Academic institutions, and Application Development Companies.
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