Blockchain-based cryptocurrency ecosystem Beldex has announced a new platform to offer a dynamic range of services centered around its privacy coin. Beginning with a transport service, Beldex hopes to offer something unique to stand out from the crowd, with later aims to expand into other industries.
A cross functional platform outside the box
The team behind Beldex seeks to transform the current ecosystem of cryptocurrency by applying practical uses to it, chiefly through the desire for users to maintain privacy of data while conducting transactions. As such, Beldex Coin’s privacy and untraceability features are suited for multiple use on the Beldex platform, for transactions that are both traceable and untraceable.
The Malaysian startup’s first service is a taxi booking service called Bel Trips, that allows for automatic price rate setting at various times and locations. Thanks to decentralization and blockchain, prices can be more efficient by aggregating offers made by users and accepted by drivers.
It is yet another demonstration of how blockchain and big data can mould the future of modern living, with use cases for cryptocurrency seeing wide ranges internationally.
This, along with a delivery service called Bel Needs, for delivery of items to remote local places, will represent the emerging Beldex Ecosystem. To augment these will be a Debit Card that lets users send and spend their funds even with merchants outside its network.
Utility and privacy on demand
Using a technology called Hexagonal Ring Xtensive Transactional Signatures, users have the option for sender privacy, whereby sender public keys that form the ring are mixed, obfuscating the original sender and utilizing Ed25519 curve’s Schnorr algorithm. Via the Pedersen commitment, transaction totals are also protected by ring confidential transactions, multiplying actual figures with random numbers.
The Beldex Ecosystem
The ecosystem in its current shape consists of:
- Bel Trips, which leverages the $44 billion global cab industry with a CAGR of 8.47%. Decentralization is expected to double that value in the next five to eight years.
- Bel Needs, which allows for efficient deliveries to a widespread, hyper local consumer base. An untapped market as of yet, the potential for profitability via decentralization looks to meet the barter-style demands of Beldex Coin holders.
- Beldex Debit Card, which holds true value within the ecosystem and has the potential to make funds even more useful than local fiat, allowing users and service providers to store, save and spend Beldex Coins securely.
With a priority on liquidity, coin holders can expect to benefit from rewards en route to Beldex Coin becoming the most sought after Blockchain Fuel for businesses and services.
The Beldex private token sale is ongoing for the entire month of May 2018, allowing anyone in the world to own their share of the Beldex ecosystem for a discounted price of $0.13 per Beldex Coin, after which prices will rise incrementally until a base rate of $0.25 per coin during the public token sale in August.
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