People have witnessed a tremendous growth in cryptocurrencies. And the current DeFi (Decentralized Finance) era is attracting a lot of people who didn’t know about the blockchain technology. Well, they are attempting the revolutionization of the existing banking system but who will step ahead into the forefront to do the decentralization in the rest of the sectors. Well, here comes GenesisOne.
GenesisOne is a platform developed by Emirates Genesis Group S.A. for trading, commercial purposes, investment speculation, and cyber gaming. Cryptocurrency still has a lot of untapped potential and the people of GenesisOne believe that the power of blockchain technology can be used to solve a lot of problems in the world.
However, make no mistake. GenesisOne is not a non-profit enterprise but rather an attempt at Global Synergy. It will be a conglomerate of companies across the world coming together to achieve common goals while doing their part for the global society. Thus, it is a win-win situation for everyone involved in the project.
- Network effect: As more people embrace GenesisOne, the platform will grow and become more valuable for the users. As the number of users increases, the existing users and companies will benefit more as they will gain more contacts, more information, and more global exposure. In fact, it is quite similar to a social media platform. As you interact with more people, the platform becomes much more engaging.
- Benefit Small Businesses: Small Commercial Enterprises face a lot of problems regarding issues like website maintenance, accounting, social media management, and much more. This platform provides a comprehensive solution to all such problems while giving small businesses an idea about developing a proper payment mechanism.
- Mode of Payment: Speaking of cryptocurrencies, the most popular ones are Bitcoins and Ethereum. However, these do have some serious flaws like volatility, and security issues. The volatile nature makes them quite a risky asset for investors. The token offered by GenesisOne is a considerable improvement in both these aspects.
- Crypto Gaming Platform: Crypto Gaming is a sector that has lots of untapped potential. Gamers would love to play games using crypto. However, currently, there is no reliable platform and interface for that matter. This is the vacuum that GenesisOne hopes to fill. GenesisOne intends to create a global platform for everything from poker games to sports games, replacing fiat as the ubiquitous global currency.
- Stable Medium of Exchange: A medium of exchange might not be an issue if you live in the US or Europe but for people who come from the less developed area, it is an issue. GenesisOne has managed to solve that problem by creating a stable medium of exchange.
- Reducing Poverty: Now, this might be surprising to read but blockchain technology can reduce a lot of money involved in transactions. This is because it removes the debit card charges, foreign exchange fees, currency risk, and transaction fees levied by the banks. GenesisOne assures that by creating a global community, they would be able to save money in the range of millions and thereby leveraging the platform to contribute to tackling problems like poverty, water availability, food scarcity, infrastructure and community development.
- Affordable Remittance Payments: Lots of money flow as remittance to less developed countries. However, there is a significant transaction charge involved with them. Thus GenesisOne can remove all such roadblocks while offering what can be called a Global currency.
Areas of Focus
GenesisOne is hoping to build an inclusive global community with millions upon millions of members. Thus, it would be an advantage compared to other cryptocurrencies. GenesisOne is hoping to penetrate areas without much digital connectivity. Some of the areas of focus include-
- Food commodities: GenesisOne hopes to be a big provider of food items like rice, meats, edible oils, pasta, flour, etc and deliver them with the caveat that these markets will in time produce commodities themselves that too will be exported.
- Pilot training centers: The folks at GenesisOne are developing pilot training facilities with simulator training at Singapore, Colombia, Barcelona, etc. Also, the idea is to develop these sites further into Launch sites for airlines with state of the art technology, customer centric models that start with less seats on planes to keep people from feeling like they’re riding in cattle cars or becoming akin to a sardine, as well as superior service levels akin to those in business class.
- Banking Platform: Another area of focus for GenesisOne to ensure universal usage of cryptocurrency worldwide is to provide true global banking services, trade credit facilitation, cross border payments and global transactions.
- Law enforcement-This is a very interesting idea as they intend to build a city with drones, surveillance equipment, and ensure coordination with law enforcement to deploy officers in areas where crimes are committed. The footage and evidence will be made available through an app, and the residents can vote for the punishment needed eradicating corruption and political or personal agendas. To be judged by the people; all the people, not simply a chosen few.
- Global Acceptance: Soon, the GenesisOne tokens will be a substitute for Visa/MasterCard debit cards.
- Global Investment Club: The aim is to be extra supportive to investors in investing their funds for higher, viable, sustained returns.
- Global Currency: The GenesisOne tokens will serve as a true Global Currency improving upon the limitations of Bitcoin and Ethereum.
- Global Mutual Banking: Mutual banking basically means providing access to credit and then pass on profits arising from those activities to the depositors and other bank members.
- Blockchain Bank: Establishing blockchain-based ecosystem, intermediaries will be eliminated to reduce the cost.
- Participate in global lottery, gambling, and gaming activities.
- Secure and safe: In case of theft or loss, members can be reissued tokens with the help of mintable feature while those lost tokens are rendered null and void.
- Everyday use: It is not just a token and coin ecosystem but can be replace the traditional paper currency providing more access to reach the masses across the world, today, tomorrow, and beyond!