Making any blockchain asset spendable instantly

The World Economic Forum is predicting that 10% of the global GDP will be stored on the blockchain in less than 10 years. In terms of today’s global GDP that would be $7.8 trillion worth of assets.

Here a challenge arises: If the crypto community does not find a way to connect blockchains, these 7.8 trillion dollars will be dispersed in such a way, that its true value is a lot lower.

TenX Pte Ltd, a Singaporean based company supported by PayPal set its goal to provide a solution by giving a debit card to its users who can then spend their crypto-assets anywhere in the world online and offline without any forex- or transaction fees. But that wouldn’t solve the whole challenge.

Dr. Julian Hosp, Co-Founder and CVO: “If you think about it: What if there was a way to connect literally any blockchain, without creating a new larger blockchain, like some companies have suggested. Creating a new blockchain would be like a large intranet, that all the other intranet would have to trust. It would be way more difficult to convince everyone. It is easier to leave everyone on their blockchain/intranet and just connect them.”

To solve this, TenX additionally suggested a Cryptographically-secure Off-chain Multi-asset Instant Transaction network (COMIT) and wrote a Whitepaper on that which was published end of 2016: www.comit.network.

To offer this to the market the quickest way, TenX has set and released an ambitious plan for that: While raising a 1 million USD round from famous investors such as Fenbushi Capital with Bo Shen and Vitalik Buterin,TenX is now aiming to sell 20,000,000 PAY tokens for an equivalent of 100,000 ETH in a public token sale at the end of June 2017. The funds will be used to fully integrate COMIT into their service together with additional research projects and to offer TenX on webApp and iOS after already being available on Android today.

Tobias Hoenisch, Co-Founder and CEO: “Our vision for the world seems to become reality: “Sending money as cheap and seamless as sending a WhatsApp message.”

For further info and the official TenX whitepaper on the public token Sale, visit their website at www.tenx.tech

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.