WaykiChain, the Decentralized Forex Business Solution
First of all a cordial greeting to all the academic and scientific community of Hive, in the present opportunity I come to talk about the great investment opportunity with cryptocurrency called WaykiChain, a perfect opportunity to invest in a safe and reliable currency, guaranteeing the transfer of your resources.
 The image used is a Public Domain image taken at: PixaBay |
|---|
Along with the development of WaykiChain, there will be more and more users using WaykiChain application. These users are from different nations, speak different languages and use different FIAT (legal tender). In order for all users to participate in WaykiChain conveniently, WaykiChain has provided a solution that allows converting different FIAT (legal currencies) to each other. At the same time, the system will serve users who need cross-border currency transactions and remittances.
In WaykiChain's decentralized currency application, there will be currency receivers for various legal currencies. Everyone can become a recipient. The recipient can pledge assets to WaykiChain, such as Bitcoins, WICC and Ethereum, etc., to generate a cryptoasset linked 1:1 to the FIAT (legal currency), such as StableCoin.
On WaykiChain, users can pay WUSD to purchase assets with the corresponding legal currency or withdraw cash using WUSD, which has provided a channel for capital circulation. WUSD supplies will be strictly recorded in the blockchain browser where everyone can access. WaykiChain will issue WUSD equivalent to the corresponding collateral deposit and recycle the corresponding WUSD in case of cash withdrawal.
 The image used is a Public Domain image taken at: PixaBay |
|---|
Reason why, investor John owns RMB 70,000 and intends to convert his money into USD. But due to currency controls in the country, John chooses to use WaykiChain to exchange for USD. In WaykiChain decentralized currency application, John finds recipient Terrence who wants to exchange for RMB with his USD. John first transfers the equivalent value of WCNY and sends WCNY 70,000 to Terrence. Afterwards, John gets WUSD at the same exchange rate as USD. Suppose the exchange rate of USD to RMB is 1:7, John gets WUSD 10,000. At the same time, the property of 10,000 WUSD is recovered by the receiver Terrence's system. By continuing his deposit to WaykiChain, Terrence can earn more WUSD ownership so that he can offer exchange services.
As for the smart contract supported by WaykiChain will ensure the immediacy and security of the transaction, currency exchange and cross-border remittance will be much faster and convenient for customers. convenient for customers. In addition, the transaction cost will be reduced as well. For merchants, because blockchain can guarantee the integrity of data without accumulating credits.
It can eliminate the complicated identity verification steps during foreign exchange transactions. The whole process is fully transparent and is very secure and easy to track. Decentralized transaction settlement of forex transactions will speed up the settlement of transactions. The average cost and settlement risks will be significantly reduced.
