FUSION - BRIDGING THE GAP IN CRYPTOCURRENCY

in #originalworks6 years ago (edited)

First of all, I would like to say a big thank you to, @original works for another great opportunity like this. I would say it is an honour to be able to share my own point of view.
I am Ehizojie David Machi by name, a student of Federal University of Agriculture Abeokuta(FUNAAB),Ogun State, Nigeria. I am in my final year studying chemistry.

WHAT IS FUSION ?

images (2).jpgsource
In a lay man language, fusion simple means the joining or coming together of two or more things to become one.
In Chemistry, fusion is the coming together of two light nuclei to form a larger nuclei which is accompanied by the release of energy.
Now, what is this FUSION ?
It's an organization with the mission of making cryptocurrencyeasily accessible by everyone.
Sometimes ago, I have the money to buy a particular cryptocurrency called Litecoin. I was unable because of the procedure involved, which was even unknown to me then, recently, i found out the price of litecoin has increased drastically. If there was an organization like FUSION, I would have been able to buy it then at a cheaper rate and sell now when the price has increased.
Another scenario, is with steem, one can easily sell his or her steem for liquid cash but can not buy it back with the same cash, which is a big disadvantage and discouragement. All thanks to those behind the initiative of FUSION.
With this new initiative of FUSION, commercial banks are likely to go bankrupt if they don't follow the trend, because, people will prefer to save their money on currencies that have the tendency of giving more interest than the bank that charges.

HOW WILL FUSION AFFECT THE "INTERNET OF VALUE"?

"The Internet of Values also called Internet Of Things(IOT) is a newly coined term that defines the ability to instantly transfer value the same way we transmit data and information instantly through the Internet".
The usage of this goes beyond traditional financial transactions of commercial bank and stores. "Every digital asset, token and cryptocurrency has a certain value as determined by the market".
FUSION will help blockchain developers to create platforms or applications for the new world of cryptofinance that allow token to token transactions.
This will allow all cryptocurrencies to have the same value instead of having some currency with higher price because they are the medium of exchange for other currency.

BLOCKCHAIN ISSUES AND LIMITATION?

As a result of numerous cryptocurrencies, shortcomings on how to buy this currencies have been a problem due to disconnected market.
FUSION has come with a better way, with procedures in transacting with each cryptocurrenciesimage (2).pngsource
By mapping them out and their modes of operands.

INTEROPERABILITY

The capability of a product or system to interact and function with others is called interoperability.IMG_20180609_192701_684.JPG
FUSION has come with a solution to reduce the cost in buying cryptocurrencies and the boring number of steps involved. Any user can easily use a particular currency to purchase another without necessarily converting from one currency to another which is quite expensive and stressful.
With FUSION all will be easier and cheaper, because, they are ready to bridge the gap in the blockchain.

Distributed Control Rights Management

FUSION have come to map cross chain cryptocurrencies, with the use of DCRM (Distributed Control Rights Management) to control private keys, which would be in a decentralised manner. So that, no single entity have it in their control.
Tokens would be generated on FUSION to represent assets this is called "cryptoasset mapping".

This mechanism allows financial transactions of multiple currencies to occur within one platform in a secure and efficient manner, while maintaining the security integrity of the blockchain.

Fusion Cryptofinance Tools

Fusion will enable a wide array of cross chain financial tools to be developed.

The Fusion videos page gives three use cases through these videos.

These cases in the videos are possibilities of how Fusion will be implemented.

For example, the third video - Mortgage smart contract, shows a mortgage smart contract. Investors are connected directly with the borrower, allowing them to purchase a home that is secured by a smart contract. The smart contract ensures that all parties involved are completely covered in the case that the borrower cannot make payment on time. By utilizing Fusion, the investors get a higher return, while the borrower gets a reduced interest rate. This is achieved by replacing the third party, the bank, by the smart contract.

Fusion Team

The team at Fusion consists of industry veterans with years of experience to ensure the project meets its goals.

CEO & Founder

Dejun Qian is the CEO and Founder of Fusion. He also founded VeChain, a cryptocurrency with a marketcap of over 2 billion USD at the time of this writing.

FOR MORE UNDERSTANDING WATCH THESE:


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