How Epicenter Will Improve Globalization through Blockchain Technology

by newconomy
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Epic Cash is a product that is planning to improve globalization through blockchain technology.

Blockchain technology is one of the greatest innovations in the world of finance. The interest in blockchain has grown massively in the past few months, and it is almost reaching a stage that nearly anyone in the world can easily own a cryptocurrency. Bitcoin was the first cryptocurrency that was created in 2009. It is the first decentralized peer-to-peer network that allows transactions between two people without any intermediaries. Bitcoin is great as a means of transaction between two parties, but it does not solve the need for a universal means of everyday payments.

Bitcoin is slow, difficult to understand, and difficult to mine. A revolutionary new platform Epicenter has solved many of the issues with Bitcoin. Epicenter is a series of interconnected blockchain-based financial protocols that enable developers to offer financial services access to anyone, anywhere, anytime. And Epic Cash is a product that is planning to improve globalization through blockchain technology.

How Epic Will Solve the Transaction Fees Problem

An average transaction with Bitcoin takes about 10 minutes today. Due to network congestion, a single transaction may even take several hours to complete. It is difficult for users to use Bitcoin for simple transactions like paying for a cup of coffee. That is why Bitcoin can’t be adopted as a global currency yet. Bitcoiners know that this problem exists; many of them are holding. Bitcoin is a store of value, which means they expect Bitcoin value to increase over time due to its scarcity. Ethereum is a direct rival of Bitcoin because it is more innovative and has given birth to several innovations like NFT and decentralized finance (DeFi). Ethereum fees are also extremely high so that you might spend US$ 15 to pay for a US$ 3 coffee. Epic is building a system accessible to anyone in the world. They can perform transactions at low fees without destroying the decentralized way blockchain technology represents.

How Epic Cash Will Facilitate Global Trade

Epic software characteristics are low fees, scalability, and fungibility. Epic software will be used for global trade because of those qualities. The US dollar is responsible for global trade. According to a report by the International Monetary Fund (IMF), the US dollar is responsible for 60% of world trade. The US dollar currency, like any fiat currency in existence, has a lot of disadvantages because it is not a decentralized currency. Sanctions and trade wars have made it difficult for some to transact with others, such as the sanctions on the nation of Iran. Cryptocurrency is the solution that helps governments and people to complete cross-border payments quickly, easily, and in a verifiable capacity. Bitcoin is difficult to be used for global trade because it is expensive and takes time. With Epic, all these cross-border payment problems are removed. The system is decentralized, and payments can be completed within seconds.

How Epicenter Protects User Privacy

The privacy of users is the greatest concern in the world of cryptocurrency. There are many data leaks in the past, which include the Cambridge Analytica, in which data was leaked to the public. We ensure that user privacy is paramount by protecting everyone’s identity on the network. Many people believe that anonymous transactions are linked with fraud, but that’s not necessarily the case. The epic platform ensures that all transactions are monitored for fraud, and our users can report illegal activities.

Conclusion

There are 7 billion people in the world. They rely on financial institutions to be able to make payments. Blockchain technology can help to solve the payment problems that are existing through a trustless payment problem. Epic is a payment system that is built to solve all the existing difficulties in payment systems. Epic payment is fast and ensures the privacy of the users. Epic is one of the best blockchains for global payments.

Altcoin News, Blockchain News, Cryptocurrency news, News

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.


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