Digital Currency for the Physical World of Business
Most people have at least heard of cryptocurrencies like Bitcoin but don’t really understand what they are. Cryptocurrency is an encrypted digital currency that operates independently of a centralized bank. A piece of technology called the blockchain acts as a record of transactions made in cryptocurrency, but it is spread across many computers linked in a peer-to-peer network. This technique effectively makes the blockchain impenetrable. While Bitcoin may be the most recognized form of cryptocurrency, it is far from the only one available. A company called SecuX Technology Inc. is bringing the world of digital currency to brick-and-mortar businesses. SecuX Cryptocurrency Retail Payment Solution is comprised of three components:
1. White-label Mobile App (or a Software Development Kit) - essentially an add-on to existing fiat-currency payment apps that allows the use of cryptocurrencies as well.
2. Payment Terminal/Module - a separate point-of-sale (POS) system that operates without an internet connection, only peer-to-peer. This can easily be installed into self-service machines, vending machines, or other existing POS systems.
3. Hardware Wallet - a physical device with a military-grade Secure Element chip housed inside that only accepts cryptocurrency payments via SecuX payment terminals.
Using SecuX’s new technology means a user can have multiple types of cryptocurrencies stored in their Hardware Wallet instead of separate apps. The middleman is cut out of consumer to business transactions, and these funds are virtually unhackable and anonymous leaving customers to buy what they want from whom they want without fear of their personal data falling into the wrong hands.