FAXPORT- Sports business service and funding platform
The sports industry has been performing and growing at a very good pace. The penetration of technology has speeded the way in which activities and developments are coming about. The contact between those engaged in the global sports industry is growing in tandem.
Website: https://faxport.io/
But there always remains the underlying problem of lack of trust that has led to the numerous problems plaguing sports. This has taken a toll on participants, including industry employees and sports hobbyists, distancing themselves from the sports ecosystem.
Begin during the year 2016, Faxport is an end to end blockchain based sports business service platform. The platform directly connects global sports investors, service providers and consumers using the decentralized blockchain network. By doing so, they provide various benefits to the industry itself such as improving the level of digital penetration in the industry as well as providing a greater degree of the structure as well as informatization.
PLATFORM
The project is based on Ethereum’s smart contract development. The platform will apply a set service fee to each transaction within the ecosystem. These fees will be used towards continued development, maintenance, and expansion of the ecosystem and platform.
They are also planning to establish a global network which connects together those engaged in the sports industry based on business database products.
TECHNOLOGICAL FRAMEWORK
They have a huge database system which needs to be stored safely. Hence, they have employed a variety of technology based on their type and requirement of the data.
For instance, Ethereum is based on blockchain’s technological characteristics due to his high trust in reliability and transparency. It is also cost-effective and traceable but cannot be altered. Even though Ethereum is effective, it does have few shortcomings like it suffers from low throughput and expensive storage space. Hence, Faxport uses IPFs to store large volumes of data, including multimedia data such as images and video. This thereby guarantees that data will not be altered, has veracity and is reliable.
The entire ecosystem works on a complete set of reward mechanisms. These rewards are open and transparent thereby based on Ethereum technology. They also have a personalized subscription service.
Based on the sports business database comprehensive data and analysis, Faxport will release an open platform: successively constructing a series of corporate services, such as business networking, recruitment, and business collaboration; and providing different groups of users to enjoy the high-quality service. They have a specialized recruitment process because for the kind of industry that they operate in, Finding the right people necessitates reliance on headhunters, and as an intermediary. Hence, the entire recruitment procedure is based on their refined database.
TOKENS AND CREDIT
The usage of FAS tokens is basically to attract capital to the firm, the revenue generated will be divided between operational expenses, Partner network, Sales and marketing, Reserve funds and R&D.
CONCLUSION
The portal works on the basis of mutual trust between the recruiter and job seeker. Their impeccable track record of activities by their specialized team has made a name for the company amongst its growing competitors.
Website: https://faxport.io/
Telegram: https://t.me/Faxportglobal/
Twitter: https://twitter.com/Faxport_EN/
Published By:karanj
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