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– TIMESTAMPS –
2:08 Drawback Flexa is Fixing
4:47 Crypto To The Rescue?
6:17 However You Can Already Spend Crypto
10:17 Flaxa Mission
14:55 Flexacoin is Now AMP
18:59 AMP Tokenomics
21:01 How Are Flexa Doing?
22:20 Last Ideas
⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► Flexacoin Whitepaper:
► Card Fraud Losses Totalling $28 Billion:
► Fee Processing Charges:
► What’s Flexacoin:
► Flexa Capability:
► Flexa’s Response To COVID:
► AMP Swap & Extra:
❓ What Drawback Is Flexa Fixing ❓
It’s laborious to be a service provider and that’s largely because of issues like card fraud, transaction prices and chargebacks.
So, how massive an issue is that? Nicely, listed below are some stunning figures:
► Card fraud prices $28 billion a 12 months.
► Chargebacks account for round 0.5% of all transactions made.
► Fee processing charges sit at round 3% or 4% of the worth of a complete transaction.
All that prices the service provider cash and, what’s worse, is that smaller companies are disproportionately impacted. That’s as a result of they don’t have the assets to deploy prime of the road programs and processes to detect or take care of these items.
Relating to card transactions within the US, there are about ten totally different steps occurring within the backend. With a multitude like that, it’s no surprise that cost processing prices are so excessive.
⛑️ Crypto To The Rescue? ⛑️
It seems that having tamper-proof transactions on a blockchain is fairly helpful for retailers with regards to serving to to unravel fraud issues.
Fee processing prices will be lowered and blockchain inherently supplies native help for boardless funds – helpful if you wish to serve different markets.
💰 Crypto’s Already Spendable 💰
The reality is that almost all of cash moved immediately is transacted with legacy programs constructed within the Nineteen Seventies.
Most crypto playing cards are merely a bolt on to these legacy programs.
Additionally, crypto transaction occasions of round 20 minutes are fairly impractical with regards to spending crypto in the actual world.
⚙️ Flexa ⚙️
The Flexa challenge is principally made up of three major elements.
► The SPEDN app and Flexa’s ecosystem of built-in apps
► Flexa Community Protocol
SPEDN was created by Flexa and is the primary app that enables for sensible crypto funds by enabling immediate, no-fee transactions in shops and on-line.
The Flexa Community Protocol is an open customary that enables for fast crypto funds in shops and on-line, while permitting retailers to obtain fiat deposits by way of their level of sale.
Flexacoin was a impartial collateral token that helped facilitate these immediate crypto funds on the level of sale in terminals. Nonetheless, there may be an ongoing token swap proper now with Flexacoin being swapped one to at least one with AMP. AMP has inherited all of the use circumstances of Flexacoin.
🤑 AMP Tokenomics 🤑
Watch my video for extra particulars on that.
🤔 How Are Flexa Doing? 🤔
Within the first 12 months of operation, the SPEDN app has not solely helped retailers decrease processing prices in comparison with debit or bank cards however can also be but to lose a single penny or Satoshi to fraud!
With COVID being a bit of little bit of a difficulty for bricks and mortar retailers this 12 months, Flexa have determined to set service provider charges to 0% for the remainder of the 12 months and prioritized the event of their Shopify plugin for on-line gross sales.
📜 Disclaimer 📜
The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who shouldn’t be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any explicit end result.
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Source: Coin Bureau