Banks face cost-cutting pressure and an increasing competition from new players as cus-tomer behaviour evolves. Indeed, customers, especially the Y and Z generations, expect their banks to increase their online service offering. As much as 8% of customers in Europe say they have an account in an online bank. A quarter of bank branches should disappear within 5 years as 15% of them are not profitable and suffer a drastic drop in attendance.There is more and more detachment between customers and banks. We believe that it is important that everyone should be able to control their money securely. Ethereum X aims at proposing an innovative system through its cross-platform applications, and its low fees payment card.
Sending money to companies or relatives is not an easy task, either for remittances, for child-ren tuition fees, for emergency transfer, or for a donation. As widely known, financial institu-tions are in a monopoly situation and decide the fees they want to charge. When sending mo-ney to a foreign country, fees can even be outrageous, without any justification. The transfer amount may also be limited to a certain ceiling, and many other restrictions may apply. With Ethereum X, we truly believe that everyone should be able to transfer his money how he wills.
In order to cope with the international economy and the derivatives of currency fluctuations, it is key to have a reliable, robust and digitalised alternative. Our solution, is a set of cross-func-tional and multichannel platforms including a mobile wallet and a payment card.
The bank is a state institution, which reserves the right to look at transactions and apply this right at will. Payments are monitored and must follow a defined pattern. Ethereum X respects its users’ privacy, while offering thanks to the DAG technology a secure and efficient payment alternative.Security is today the new big issue in our society. We all heard about phishing, scamming, hacking, and maybe you have already been the victim of those malicious act. With Ethereum X, these security issues now belong to the past. Our token gives a 10x more secure way of making your transactions thanks to its high level of cryptography.
Ethereum X is currently available on software wallets (MyEtherWallet, Metamask, Ethereum GUI) as an ERC20 token. An official first wallet is in development for Windows OS. It will be the indispensable client to manage and store its ETHX seamlessly.
The Ethereum X app is a wallet that allows you to spend and manage assets from your mobile phone and interact with your card. The assets are easily transferable and their value is retained up to when a payment is done.
Upon registration, a phone number will be required to secure your account. For online purchases via the Ethereum X card, a confir-mation can be sent to the official application to confirm transactions. The storage is de-centralised and nothing is recorded on our servers. The application also implements a feature for fast and easy payback between individuals.
The Android application will be available early in the first quarter of 2018. Shortly after, we will direct some resources to our team to develop and publish a WEB and iOS version to meet the multiplatform expecta-tions of our users.
The Ethereum X card is a reliable and convenient way to use your digital money. The card is linked to a compatible official wallet. Your balance is updated as soon as the transfer is re-ceived on the wallet, no further delays. The dedicated application allows you to define rules such as ceiling limits per month and withdrawal limits per day. This limit is purely optional and made to fit everyone needs.
Just like a classic debit card, the Ethereum card offers the option of withdrawing cash in compatible ATMs. The card can also be used in online and physical outlets.
The Ethereum X card can be used world-wide at any physical and online compatible point of sale. The exchange rate is done automatically according to the country of reference and current ETHX rate. The rate is very advantageous compared to traditio-nal banks.
Ethereum X will be a real alternative for its frequent users. The application will help everyone to save on rates - which keep fluctuating.
The first cards will be available during the Q4 2018. The pre-orders will be launched few weeks before. 100 premium cards and 500 classics will be available. The first pre-order users - whom we consider as early adop-ters - will benefit from advantages on the fees, and a bonus of ETHX for holding.