-An overview of X8currency and info about the upcoming ICO-
Quick headsup first. I will be writing posts regularly, mostly about upcoming projects or lesser known projects in the cryptospace. The articles will ideally be a short description by means of the 5 W’s & 1 H:
"I keep six honest serving-men
(They taught me all I knew);
Their names are What and Why and When
And How and Where and Who."
Ok having said that, on to X8currency!
What is X8 Currency?
X8currency aims to become ‘The ultimate safe haven for crypto investors’. X8 Currency wants to raise the bar for asset security by balancing between fiat currencies, cryptocurrencies and gold coins through the system of Automatic Reserve Management (“ARM”). ARM was developed by ioNectar (https://www.ionectar.com/) and is applied on X8currency. X8currency holds the exclusive rights to operate ioNectar’s automatic reserve portfolio management technology in cryptocurrencies.
A quick comparison of X8currency in relation to other ‘stable’ currencies.
What is ARM?
X8currency will be safe and stable due to a system of Automatic Reserve Management. But what is ARM? ARM is a system which momentarily allocates capital between 8 top fiat currencies and gold in real-time. It creates safety through diversification and protection through being able to allocate capital globally in real-time, based on actual ‘at the moment’ competitiveness of all currencies when perceived through the lenses of price, volatility, decision-making costs and relative time. With x8currency, blockchain technology will be added to the basket which now exists of 8 fiat currencies and gold.
The basket - Currencies
Membership in the basket is available for currencies that fulfil the criteria of 100% convertibility: a high transaction rate, consistent electronic liquidity and simple convertibility of meaningful sizes to all other members of the currency basket. For now, the ARM basket contains the 8 strongest currencies. These are USD, EUR, JPY, AUD, GBP, CAD, CHF, NZD.
The basket - Gold
In addition to fiat currencies, the basket also holds gold. Gold is valued against the other currencies in the basket as well. Just like all the individual fiat currencies in the basket, gold receives delegated amounts of capital according to relative real time competitiveness. X8 currency holds gold in physical reserves in the format of gold coins. Nevertheless, it manages marginal fluctuation of the reserve through eGold ARM. eGold ARM uses XAU/USD, XAU/EUR and other XAU prices in the electronic market to follow the market in an straight through processing manner in order to save conversion costs of small incremental physical reserve. That is when physical gold would be transacted between gold and cash currency. Daily real time gold price fluctuation is therefore handled through eGold trading. In the X8 currency system physical gold acts as the ninth currency.
The basket – Blockchain products
X8 currency also acknowledges the potential of ‘blockchain products’ and is preparing the foundation for blockchain currency products to start competing with other power blocks and vice versa. X8 currency will incorporate open competition between FIAT, GOLD and BLOCKCHAIN and will delegate capital allocations within this space with the primary objective of safety and stability through systematic diversification. Blockchain members will be accepted into the basket, which will have sufficiently competitive characteristics of money that will be able to complement the FIAT + GOLD ARM. All blocks will be beneficiaries of this activity, however, through the introduction of the X8 currency blockchain, which will be able to position itself as the delegator, x8 is able to generate earnings on the basis of the service it will provide to fiat and gold space through cryptoactivity.
In response to my question if there were any potential ‘blockchain products’ which sufficed, it was answered the blockchain product should be 100% convertible and such products are not on the market yet.
The answer to the question when a crypto would be labelled as 100% convertible, was as follows:
Right click opening this will make it possible to read it ;)
X8currency seems to be laying the foundation for including blockchain into the basket, but haven’t seen a potential candidate just yet.
Why X8 Currency?
When any market becomes really volatile, investors start looking for the safest investment options to reallocate their investments to. Nowadays, the most volatile market of them all is the cryptocurrency market. Wild swings in this market are some of the wildest anywhere. This is the reason there is a need for a safe and stable currency for crypto. Stability is X8 currency's focus. It holds all the currencies in the portfolio at all times while it delegates relative ratios between them.
Next to being stable there is also a ‘safe yield’. Due to ARM, x8currency is able to allocate capital globally in real-time, based on actual ‘at the moment’ competitiveness of all currencies when perceived through the lenses of price,volatility, decision-making costs and relative time.
"It provides a guarantee that our ARM system will always buy low in real terms and always sell high in real terms. It adjusts ratios between currencies incrementally all the time to reflect the overall market picture systematically. We believe this to be the most efficient and precise way for worldwide real-time capital allocations and hence it provides the highest quality of earnings at the highest possible safety standard.”
Who are working on X8 Currency?
As X8currency has an extensive team and advisory board – of which info can be found (scrolling down) on https://x8currency.com/ - I’ll only give some details about the CEO.
Gregor Koželj – CEO/Founder.
“Gregor is behind some of the main design features of ioNectar platform. Gregor combined natural investment perspective with advanced technology capabilities of today into a winning philosophy match. His accumulated experience comes from working as portfolio manager in institutional environment, advising funds, HNWIs and specialists in foreign exchange and other markets.”
Linkedin: https://www.linkedin.com/profile/view?id=gregor-ko%C5%BEelj-19075434/
When will the ICO take place and how can I participate?
As shown below, the ICO details are still unknown. X8currency will discuss the exact date of the ICO with Cofound.it. The best way to keep up to date is by signing up on their website (https://x8currency.com/) and following their slack (http://x8currency.herokuapp.com/)
Where can I find more information about X8 Currency?
Website: https://x8currency.com/
Slack: http://x8currency.herokuapp.com/
Twitter: https://twitter.com/x8currency/
Facebook: https://www.facebook.com/X8currency/
Medium: https://medium.com/x8currency
Any questions? Any improvements on my article? Please comment below. Oh and if you have an upcoming or lesser known project in mind that you would like to see next time, let me know. Also, please let me know if you want me to continue exploring upcoming ICO’s by hitting that upvote and following me. Thanks!
Ps: here is info about the upcoming ICO’s of Santiment and Musiconomi.
Musiconomi - https://steemit.com/cryptocurrency/@steewrit/musiconomi-ico-what-why-who-when-how-where
Santiment - https://steemit.com/santiment/@steewrit/santiment-what-why-who-when-how-where
Thx for this!