Chain2Pay Launches Cryptocurrency Debit Card

This Wednesday, Chain2Pay - a subsidiary of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company MinexSystems - announced that it has launched a cryptocurrency debit card.

The company is making the cards for MinexPay, another MinexSystems subsidiary and a firm that is trying to develop payment solutions in the cryptocurrency sphere.

A card user will spend money on the card in the same way they would were they using a regular debit card.

The only difference being, obviously, that when a payment is made, it’s debited to the user’s crypto holdings rather than their fiat currency balance.

"With MinexPay,” said Boris Shulyev, MinexSystems CEO, “Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term can be made anywhere in the world Visa or Mastercard cards are accepted, as they work the same way."

Chain2Pay - Beating Inflation

According to MinexPay, the cards can be used anywhere in the world, even in countries where regulators have banned cryptocurrencies.

The reason for this is that, unlike some other payment solutions, MinexPay’s runs through a bank that holds cryptocurrency and not through an exchange.

"The transaction speed is an average of three seconds, because the user does not need to wait for the crypto to exchange to fiat through the exchange,” continued Shulyev. “The fund provides that step in advance, so a fiat equivalent is ready to use on demand."

Chain2Pay suggested that their new cards will help people living in countries with volatile currencies that are subject to high inflation.

There is some irony to that point given the massive volatility of cryptocurrencies. Cryptocurrencies are certainly subject to less inflation than their fiat forefathers.

A recent study by a team of Polish scientists also found that the Bitcoin market is maturing in a way that indicates it is behaving like other traditional markets.

If that is the case, then it seems likely that, once the final embers of cryptocurrency hysteria die out, cryptocurrencies could be used as a stable form of payment.