A new ecosystem with a goal of bridging the centralized and decentralized worlds of digital finance is going to be home to a brand-new DeFi platform that allows consumers to become their own bank.
Fusion says its vision is to deliver key infrastructure for value transfer — integrating the cryptocurrencies that exist today, as well as those that will emerge in the future.
This blockchain is now being used by Chainge Finance, a project with the ambition of ensuring anyone can gain 100% control over their daily activities — empowering consumers with the ability to provide and get financial services from each other.
According to Chainge Finance, one simple app will enable users to connect with their friends and family… just like they do on social media. From here, they’ll be able to complete financial transactions “without actually meeting face to face or using a centralized institution.”
Chainge also aims to shake up the way businesses handle money matters — integrating finance, HR, supply chains, services and procurement into a single system. The team behind this project believes this could deliver “faster transaction speeds, faster tax reconciliation and the ability for HR professionals to authenticate employment history.”
A magic button
At the heart of Chainge’s app is a magic button that will enable users to “securely perform virtually any transaction imaginable with just one tap” — whether this involves scanning QR codes to connect with contacts, request payments, complete transactions in brick-and-mortar businesses, and initiate or enter into escrow smart contracts.
Chainge’s team declared: “The magic button will be in short, the easiest and fastest way for you to interact with the financial world. And in no time, you won’t even remember how mind-boggling traditional banking used to be. Because all you’ll have to do is tap that magic button and a universe of possibilities will be right there at your disposal. 24/7. Just like magic.”
As the interest rates offered by bank accounts remain lackluster, Chainge Finance says it aims to offer a point of difference by offering Bitcoin and USDT rewards to savers.
Whereas Chainge Finance is an application layer, Fusion delivers the base layer structure that makes it all possible — delivering features that other digital finance platforms cannot. Fusion champions an “Internet of Values” model that aims to help businesses and merchants cut down their costs.
More insights from Fusion here
In a recent Medium blog post, Chainge Finance revealed that more than 560,000 users have joined its waiting list since January — with most of them based in China, Vietnam, India, Indonesia and the United States.
A newly revamped website is in the works, along with a series of use case videos that aim to champion the capabilities and functionalities of the Chainge app.
Looking ahead, users will be able to gain access to the Chainge app based on where they are in the waiting list — and the company has plans to expand globally, unlocking new growth opportunities as it builds its presence in the market.
Fusion and Chainge Finance share a founder in DJ Qian, who also co-founded Anyswap, Vechain and QTUM.
The European Central Bank highlighted Fusion’s infrastructure in a recent report too, setting out how it is an open-source solution for connecting blockchains that makes full use of decentralized control rights management.
Learn more about Fusion
Disclaimer. Cointelegraph does not endorse any content of product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.