The many conveniences of digital technology have resulted in a drastic shift in people’s financial attitudes and behaviors. More and more people have moved to digital payments, but existing traditional and modern financial services still offer limited solutions that are also plagued with a host of modern problems: security risks, financial exclusion, disadvantageous financial policies, scalability issues, trade complexity, and high transaction costs.
To address these, the Eyeska ecosystem was launched. The community-driven project offers an open-source and integrated suite of solutions that is anchored on decentralized blockchain technology. Eyeska’s own blockchain technology, Eyeska “O” Block (EoB), guarantees highly secured transactions, low transaction costs, and a processing speed that eclipses those of popular cryptocurrencies like Bitcoin and Ethereum and even mainstream payment networks such as VISA.
In comparison, popular cryptocurrencies and mainstream payment networks feature the following current transaction speeds on average:
- Bitcoin can handle seven transactions per second
- Ethereum can process 20 transactions per second
- Visa has a maximum transaction speed of 56,000 transactions per second
Indeed, EoB is a blockchain technology that is specifically built with speed and scalability in mind: boasting a processing speed of over 1 million transactions per second and a framework that is able to scale hardware horizontally and direct network infrastructure to resolve congestion before it happens.
Eyeska creator Greyador says that the project’s overall mission is to to make financial services and blockchain technology available and accessible to everyone—especially to the average person. Greyardor further emphasizes that “wealth [should be] of the community, by the community, and for the community for generations and generations, and that everyone should have the opportunity to participate in the process of creating weath as well as share in its progress.”
To ensure that this goal comes into fruition, Eyeska strongly encourages and enlists the help of its community in driving the project forward and determining its future.
One way through which Eyeska seeks to involve its community is through the EoB DevCube, a platform that will allow developers to experience the full capacity of EoB and empower them to create for, innovate, and advance the ecosystem. The EoB DevCube is a complete blockchain development suite that allows the creation of decentralized applications (dApps) and smart contracts, and their deployment to the platform’s test environment. With EoB DevCube, developers will be able to incubate, develop, deploy, and run their blockchain solutions within the Eyeska framework easier and faster.
As the ecosystem matures, Eyeska envisions the development of multiple product offerings for its community that are all powered by the EoB:
- The EyeskaNoPass is the digital wallet of the ecosystem—providing a platform for cash withdrawals, fund transfers, and swapping of the YES into other cryptocurrencies. It is different from other digital wallets in that it uses pseudo-iris data, an extremely advanced and highly secured verification and authentication security system. The mechanism also frees users from the hassle of having to bring a card or recall a PIN or a password when initiating financial transactions.
- The Eyeska Token (YES) is the standardized utility token within the Eyeska ecosystem. It is a hyperdeflationary token, with a liquidity lock feature that stabilizes its trade value and protects it from market fluctuations. Because of its interoperability, the YES can be used to pay for products and services, withdraw, deposit, and transfer funds, or for exchange for other currencies on several different platforms. The YES can also be traded with other tokens/cryptocurrencies.
- The Eyeska Cardless ATM functions like a standard ATM but is equipped with the EyeskaNoPass. The ATM can be used for cash withdrawals (in local currencies), online payments, fund transfers, bills payments, and trading of the YES into other cryptocurrencies. In addition, customers can use it to shop for goods and services from merchants that accept the YES as payment.
- The Eyeska M Connect is a transaction tool that links customers and merchants. Through it, merchants and business owners who agree to accept YES as payment will be given devices that are equipped with the EyeskaNoPass for free. Because of ecosystem’s interoperability, Eyeska M Connect guarantees instant settlement, no chargebacks, no transaction fees, and stable token values to ensure maximum profitability for merchants and worry-free, convenient shopping for customers.
- The Eyeska EDEX is a decentralized multilingual cryptocurrency exchange platform through which people can buy and sell digital tokens as a form of investment. As an added safeguard for its community, the EDEX has a liquidity lock feature which stabilizes the trade value of the YES by protecting it from market fluctuations. Aside from the YES, other cryptocurrencies will also be listed on the exchange for trade.
- The Eyeska DEX Loan is a defi platform for cryptoloans that will allow personal, small business, and corporate loans for the community, with priority given to merchants that accept YES in exchange for their goods and services. Once the community members who applied for the loan have been found to be in good standing and have passed the vetting process by Eyeska, they will be able to borrow cryptocurrency that can be readily converted to cash for their business and personal needs.
- The Eyeska Community empowers users to participate in discussions that improving the ecosystem and ultimately decide its future. Key issues will be decided via a voting process and every member will be entitled to one vote, regardless of the number of tokens that he/she possesses. Participation in the platform is open to all members of the community.
Eyeska’s strong and collaborative relationship with its vibrant and growing community is what defines and propels it forward. Eyeska aims to build a better financial world and to create solutions that are fair, equitable, inclusive, empowering, and sustainable to all so that wealth becomes truly of the community, by the community, and for the community for generations and generations.
ABOUT EYESKA TECHNOLOGIES INC.
Eyeska Technologies Inc is a 100 percent community-driven software development project. It is engaged in creating decentralized applications based on blockchain technology and its primary mandate is to create and implement the EoB platform. Because of its community-based nature, the project is sustained by the work of volunteers who call themselves servants—people who share their time, effort, and expertise in order to innovate and advance the ecosystem.
ABOUT EYESKA FOUNDATION
Eyeska Foundation is incorporated to help accelerate the development of EoB by undertaking the sales of the YES.
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