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BizX Featured in Business News Daily: 3 Businesses Working to Generate Real Value in Cryptocurrency

December 29, 2017 | Written by Business News Daily

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Article by Entreprenuer Magazine. 

Article by Business News Daily 

Business News Daily spoke with three entrepreneurs working to ground cryptocurrency in real value, rather than speculation. 

Read the article recap below or link to the full article.


Cryptocurrency has made some serious waves since Bitcoin's meteoric rise. 

Many experts have warned that Bitcoin's ongoing value increases represent the effects of a classic speculative bubble, where investors pour money into a product that has become detached from any real-world value. But cryptocurrency isn't inherently speculative. There are multiple ways these blockchain-based currencies can be applied to the real world, and efforts are underway to do exactly that.

Business News Daily spoke with three entrepreneurs working to ground cryptocurrency in real value, rather than speculation. 

BizX  is a network of small businesses that are experimenting with a digital currency called "BizX dollars." BizX dollars are not a cryptocurrency on the blockchain, but a digital currency pegged to the U.S. dollar. Businesses in the network earn BizX dollars by offering goods and services to other members in the network, or they can receive a line of credit in BizX dollars from BizX itself.

Bob Bagga, CEO of BizX, notes that because this currency is attached to the dollar, it "avoids volatility, and it also makes it easy for people [in the network] to price their goods and services."

BizX dollars aren't the end of the line for BizX currency, Bagga said. Creating a stable alternative currency in the network has given BizX the opportunity to create a cryptocurrency that acts as an entrance into crypto markets.

"We're looking seriously at an opportunity to create a token that sits in between and can allow the BizX members to be able to transact in the crypto world and vice versa," Bagga said. "The volatility today is coming from speculation; people aren't using cryptocurrency for commerce. We could be that last mile to be able to allow for businesses to be able to connect crypto to Main Street."

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ExsulCoin  is about to launch its initial coin offering focused on social value. Aimed at providing educational opportunities and assistance to refugees entering new countries for the first time, ExsulCoin gamifies education by rewarding users with tokens that can eventually, after they complete advanced courses, be exchanged for crypto that is tradeable on the open market

XTRADE.IO  is an exchange platform that capitalizes on the speculative investment in the crypto world right now, but it creates real value by offering a streamlined, accessible platform for investors to stay apprised of trading in real time. Rather than crypto investors having to maintain many disparate accounts on different crypto exchanges, XTRADE.IO offers them a single, centralized location from which to facilitate all their trading activity.

As in any new industry, the good ideas will have to sink or swim on their own. The tokens and products that generate real value and fill real need will likely remain, while those that fail to address real concerns will fall by the wayside. One thing is for sure, however: Cryptocurrency is not synonymous with speculative investment.

For more details, read the whole article at: https://www.businessnewsdaily.com/10480-cryptocurrency-businesses-real-value.html

Business News Daily  is a new and comprehensive resource for people planning to start a business or who are in the startup process, plus time-strapped small business owners and their staffs — all looking for concise information and insight on topics ranging from what forms they must fill out and how to get a startup loan to technological solutions for the office to management tips. 

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BusinessNewsDaily is a new and comprehensive resource for people planning to start a business or who are in the startup process, plus time-strapped small business owners and their staffs

 

 

 

 

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