BridgeX Network - The Innovative Lending Platform

Hello everyone, in this new post I want to introduce you about the BridgeX Network project , and for more details, let's just go to the following discussion:

Introduction

The BridgeX Network is a decntralized financial ecosysrem that is enabling crypto-to-crypto collateralised lending and borrowing, crypto-to-fiat currency conversions and cross border payments. The network will bring together the full spectrum of financial services players in the blockchain industry and open new opportunities for traditional financial institutions/ services to enter and participate in this new world economy. Also any third party integrator or distributed app (DApp) developer can leverage the power of the BridgeX Network to offer new services on their existing platform or create DApps or applications on the network that solve real-world financial needs.

CURRENT CHALLENGES

Even with the significant growth in value of and confidence in the cryptocurrency markets, fiat currencies remain the prevailing instruments for the bulk of all transactions and loan collaterals that occur globally today.Traditional investors in the fiat world, cryptocurrency investors often have the need for:

Real world cash flow

International payments

Looking at the numbers of cryptocurrency investors increasing exponentially, the need for conversions of crypto into fiat currencies also increases in tandem.

SOLUTION TO THE ABOVE CHALLENGES

Bridgex network create the access to the Traditional World of Fiat: Cryptocurrencies are currently being traded in a world of their own, it helps holders to unlock their cryptocurrencies in order for fiat currencies to make necessary international payments is not only troublesome, but also costly.

Today, the bridgex Network gives access to credit: most banks and financial institutions hold traditional assets like property, land and gold as collateral for their loan and financing services. Also, a total market capitalisation of USD 300 billion and rising, cryptocurrencies remain an unrecognised asset class by the traditional financial system. Presently banks and financial institutions remain a closed door for holders of cryptocurrency assets. Nevertheless, the acceptance of cryptocurrencies as a valid asset class continues to grow. The challenges that cryptocurrency holders face – having little/no means to unlock their crypto portfolio – will only get worse.

BridgeX Core: Infrastructure for Credit, Conversion and Payment Solutions

At the heart of the BridgeX Network lies BridgeX Core. It comprises a suite of cutting-edge smart contracts hosted on the Ethereum blockchain – an on-chain loan matching service, an on-chain loan tracking service and an oracle that collects off-chain data for the loan contracts – and an integrated cash management module, BRIDGEPay, which provides off-chain solutions for crypto-to-fiat conversions and cross-border payments.

THE BRIDGEX NETWORK

The BridgeX Network is the framework for a financial ecosystem of decentralized credit, conversion and payment solutions, enabling fully-decentralized crypto-to-crypto collateralized lending and borrowing, crypto-to-fiat currency conversions and cross-border payments.

The BridgeX Network will comprise of three main components:

01. BridgeX Core

02. BridgeX Platform

03. Third Party Integrators

BridgeX Platform

(Distributed Apps/Apps)

As the first proof-of-concept for this new financial ecosystem, our DApp/Apps will demonstrate the power of the BridgeX Network at its integrated best, delivering three compelling and synergistic cash management solutions within a single platform, while providing third-party financial services or DApp developers with an understanding of the multitude of possibilities going forward.

DApp BRIDGELoan

Blockchain-based crypto-to-crypto loans in a decentralised peer-to-peer marketplace that securely and seamlessly matches borrowers and lenders.

BRIDGEPay

BRIDGEPay is a powerful conversion and payments engine allowing for a) loans originating in the blockchain space to be localized in fiat, or b) its independent deployment as a comprehensive end-to-end cash management solution for users’ blockchain asset portfolios.

Apps BRIDGEConvert and BRIDGESend work seamlessly together in BRIDGEPay to provide crypto-to-fiat conversions and cross-border payment solutions.

THE BXN TOKEN

Token Information