One of the challenges with cryptocurrencies is the issue of price stability or volatility . This is true for virtually all coins except of course the stable coins. What if there was a way to effectively minimize the issue of instability of prices. Enter asset backing of crypto currency to provide some price stability. This is what CashTelex intends to achieve.
Cashtelex with it's native CTLX coin is an African initiative which will close its ICO hopefully in no distant future. It is an asset based crypto currency with real estate and Gold as its mainstay. There will also be other value added services. The pilot phase of the real estate projects which is dubbed Galactic Towers is intended to be executed in Nigeria and Uganda, with sites in both countries already chosen.
The Galatic towers real estate Mega project when completed will comprise modern residential apartments and office spaces. Other African countries are sure to key into the galatic towers project with time.
Proof of Wealth Algorithm
The CashTelex ecosystem will be managed with the Proof of Wealth algorithm. You can see the white paper for more details
Sources of income for the Cash Telex Project
In brief the revenue streams for the CTLX ecosystem as shown above are:
Real Estate with pilot projects located in Nigeria and Uganda
Global mobile money
Foreign Exchange trading
Bank loans (profit sharing)
Cash Telex Go (an online shopping platform)
Trading in precious metals such as gold and diamond
Some of the income streams are already up and running with updates and enhancements as time progresses.
The Exchange is operational although with only select tokens available at present. Currently BTC, LTC, Dash as well as NGN, USD and UGX alongside the CTLX token are accommodated.
The mobile wallet app and the online shopping app (CashTelex Go) are both available for download on the Google Play store.
The CashTelex Go app is a work in progress though as there are limited items available for purchase at present. There are also prospects of a logistics service to facilitate delivery of items or products purchased from the platform. The online platform offers discounts for purchases made with CTLX coins. This move will surely aid adoption the CTLX coins for transactions.
The CashTelex project with its range of value added services is one with great prospects. One interesting thing is that all these have been achieved thus far by the managers of the project while the ICO is yet to close. Hopefully things will pick up pace once that happens.
To the Bitcoin Cash Community
My message to the Bitcoin Cash community is that to secure stability of BCH in future as well as wider adoption, the key figures of the BCH community might want to consider taking a look at the workings of the CTLX project as well as other asset backed projects with a view to adopting what is deemed necessary to expand the frontiers of Bitcoin Cash.
Shukran
Danke
Merci
Gracias
ขอบคุณ
ধন্যবাদ
Спасибо
for reading.
