Flashmoni: a Crypto Banking Solution on the Rise
People often pit crypto and fiat currencies against each other. However, that’s not necessarily the case. Fintechs like Flashmoni prove that blockchain technology can work in conjunction with traditional finance to offer a more accessible, well-rounded banking solution to all.
Flashmoni: an Introduction
Flashmoni is an innovative fintech ecosystem that utilises blockchain technology to help customers handle their finances digitally.
This company enables users to make different kinds of online payments through its Flash App. For example, they can use the app to pay for goods and services, send money to friends and family, or exchange money.
Flashmoni works via a Flash Wallet that you can use to make the transactions mentioned above. The wallet supports a number of different currencies and uses local transaction commission rates. As a result, it might present a cost-effective alternative to third-party payment systems that charge higher fees.
In addition, its FlashRemit feature helps people in remote areas with poor banking infrastructure get access to essential financial services.
At the same time, the Flash App can convert one cryptocurrency into another. It relies on its blockchain mechanism to find the most beneficial conversion rates, essentially delivering the performance of a top-tier DEX from your smartphone.
OZT Cards & ATMs
Besides its digital services, Flashmoni has also developed physical solutions to help improve the financial infrastructure in underbanked regions. Most notably, these include the FlashCryptostations and OZTCards.
The FlashCryptostation is this fintech’s proprietary ATM. The company hopes to facilitate financial operations and provide a network of ATMs people can use to manage and access their funds. The FlashCryptostation is an excellent example of incorporating cryptocurrency solutions into our daily lives.
In addition, the company also offers its own card — the OZTCard. You can use it to combine existing bank and payment services accounts. By linking them to your Flash Wallet, you can use all of those funds with your OZTCard.
What’s more, because the OZTCard supports cryptocurrencies as well, you can also use your crypto balance when making payments with Flashmoni’s debit card.
According to Flashmoni, the OZTCard is more secure than other credit or debit cards because it needs to maintain a connection to your mobile phone. So if you lose your card and someone else gets a hold of it, they will not be able to use it.
The card also has its own rewards system. The more clients use it, the more points they accumulate that can be redeemed for various benefits.
The Tech Behind Flashmoni
The Flashmoni ecosystem of decentralised apps is built entirely on Ethereum. This blockchain network has proven time and again to be one of the most reliable ways to build dApps and other DeFi solutions, including Flashmoni.
As a result, the native cryptocurrency of Flashmoni is an ERC-20 token. Its primary use is to offer governance rights over the Flash ecosystem and allow staking and other functions for crypto enthusiasts.
How Is Flashmoni Different?
With so many cryptocurrencies out there, you’re bound to wonder what makes Flashmoni special. You’re in luck because we have uncovered the answer: this crypto is backed by gold.
Indeed, Flashmoni uses physical gold bullions to back its stock. That keeps unruly inflation at bay and also stabilises the value of its native token. In other words, Flashmoni is characterised by lower volatility and risk compared to many other cryptocurrencies.
But instead of just purchasing gold, the Flashmoni project has taken the process one step further. The fintech behind this crypto has purchased gold mines that it operates directly. In this way, the company has a say in how each mine works. The company claims that it uses its profit and influence to improve the working conditions in gold mines and reduce the environmental impact of mining.
