The cross-border remittance industry is one of the sectors of the global economy that has been overlooked for many years. It is true that many funds have been channeled to bolster the growth, but it seems the established international payment service providers are more interested about making profits from the industry than to aid the growth. Otherwise, how can one explain or put the high fees, the delay in cross-border remittance, and the overt roles played by centralized international payment service providers?
Despite the downsides to the industry, there are still encouraging signals that posit the futuristic tendencies of the industry. For instance, over 131 billion US Dollars has been sent over the years to other countries, just as about $30 billion international payments were initiated between Mexico and the US in the year 2017. Such astonishing figures are reflections that the international payment industry is on the pathway to an all-time high. Hence, it’s imperative that a platform like Dexa Coin is there to bring about the needed improvements.
THE CHALLENGES AHEAD AND THE DEXA COIN SOLUTION
Blockchain technology is the primary architecture of Dexa Coin, and as you may have known, the network doesn’t sit well with many fiat and centralized authorities that feel threatened by the functionalities. The international payment industry is not an exception as the likes of bank have been calling the shots for long. Therefore, the involvement of Dexa Coin in the equation may not come without some knocks.
On the contrary, Dexa Coin came prepared to salvage the global cross-border payment industry, and it does that in various ways through the dedicated application that is fostered on blockchain. With the application, the end-users would have access to many international payment tools and many more, such as the ones discussed below:
• DEXA Tokens for Payments
The rule of thumb behind this project is for the end-users to download the mobile application, and sign up for a Dexa Coin account. They can then proceed to add the funds they intend sending across the borders to their DEXA Wallet using the project’s DEXA Tokens.
The beauty of the use of the tokens is that the users wouldn’t have any contact with fiat currencies not have to pay the high fees that come with converting the same to crypto tokens.
• Intuitive Interface
The Dexa Coin is designed in a way that the interests of the users are covered. It doesn’t matter if you’re a novice in using a smartphone application or not, you can always rely on the intuitive interface and the instruction manual of the Dexa Coin application to facilitate cross-border transactions.
• Instant Messaging
This is perhaps one of the first integrations that we would ever witness in a decentralized cross-border remittance platform. Dexa Coin integrated an Instant Messaging (IM) feature into its application, which is more like a chat application. The users, particularly business owners can use it to have an on-the-spot interaction with their clients. As a private individual, you can also use the IM feature to chat and send messages to your loved ones without hassles.
CONCLUDING THOUGHTS
Decentralization as instituted by blockchain technology is now “holding the four aces,” and calling traditional and centralized institutions to order. So, the propositions of the Dexa Coin blockchain cum mobile application, when applied, would trigger the unparalleled improvements in the fortunes of the international payment industry.
USEFUL LINKS
Website: https://dexacoin.net/
Telegram Group: https://t.me/dexacoin
Twitter: https://twitter.com/DEXA_COIN
Facebook: https://www.facebook.com/DEXACOIN.DEXA/
Youtube: https://www.youtube.com/channel/UCJClcJHPCKkn-lJzJz25NhA
Whitepaper: https://dexacoin.net/wp-content/uploads/2019/09/DEXA-COIN-WHITEPAPER-ENGLISH-UPDATED-26H-SEP-2019.pdf
AUTHORS DETAILS
Bitcointalk username- arnoldrimmer
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=31787;sa=summary