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Market Considerations
With the advent of any new market-changing technology, the old world order often struggles to adapt to new world realities. Even today, many institutions find it challenging to agree whether cryptocurrencies are the future or a passing phase.
The following table provides a few examples of the advantages that Finblox has compared to leading traditional models.
Feature | Traditional Banks | Finblox |
|---|---|---|
Countries of Operation | Limited by capital and regulation | Limited by regulation |
AML Policies | Strong | Strong |
Security | Conventional security practices/prone to human error | Ultra-secure blockchain and ledger technology |
Residence requirements for clients | Limited by countries of operations and AML regulations | Only technical limitations and AML regulations |
International Transfers | Slow and expensive | Quick and cost-friendly |
Transaction Speed | Up to several days | Few minutes; up to 48 hours in exceptional cases |
Fund Withdrawal Speed | Up to several days (depending on amount) | Few minutes; up to 48 hours in exceptional cases |
Integration of New Services and Partners | Difficult and slow | Easy and fast |
Currency Conversion Fees | 1-5% | As low as 0% |
Despite the growing momentum behind decentralized finance, Finblox hopes to integrate DeFi innovations within our centralized system. This middle ground is a critical stepping stone to an entirely decentralized future and the benefits it can afford to first-time crypto users. We are navigating the paradigm, providing a platform that incentivizes and streamlines financial services using a utility token (FBX) across network activities.
“Digital tokens are imperative for the democratization of finance. Today, blockchain power is proving that their efficiency and transparency is broadening the access to financial instruments across the globe to a wider variety of users - which in turn boosts the liquidity of the market.”
- Finblox
Last modified 2mo ago