Introduction
A financial market is a market where people trade financial securities and commodities with low value transaction costs and at prices that reflect supply and demand.
Digital currency or electronic currency is a type of currency that is only available in digital form, not physically like paper money and coins. It shows properties that are similar to physical currencies, but allows for instant transactions and transfer of ownership without limits. Examples include Virtual currencies and cryptocurrency or even central banks issue digital base money. Like traditional money, this currency can be used to buy physical goods and services, but may also be limited to certain communities such as for use in online games or social networking.
In this case an organization creates a platform to overcome financial market gaps with the digital economy. DACX is an economic platform designed to bridge the gap between old financial markets and emerging digital asset ecosystems. DACX adds confidence in the fragmented landscape of new digital assets quickly and transparently handles complex transactions when matching orders and removing market inefficiencies. DACX builds digital asset management tools and develops an interface that allows customers to get the full benefits of a smart economy around the world.
For further development we have a vision of being a unifying bridge between the legacy financial markets and emerging digital economies. And also the mission to be achieved in our project is, to become a trusted digital currency provider and regional authority on blockchain technology, making smart economies work for all people through empowerment, transparency and innovation throughout the world.
GLOBAL REGULATOR COMPLIANT EXCHANGE PLATFORM
DACX is bridging the divide between physical commodities and digital assets, promoting the re-utilization of finite resources to drive the global circular economy. By hosting advanced security features, DACX implements machine learning for real-time market surveillance to prevent suspicious activities and security threats & utilizes KYC/AML on-boarding for its clients.
Financial Exclusion
Financial exclusion refers to a process whereby people encounter difficulties accessing and/or using financial services and products in the mainstream market that are appropriate to their needs and enable them to lead a normal social life in the society in which they belong.
Poor Customer Support
Customer service is key to any business, companies which constantly deliver poor customer service can go out of business. Customers today have so many options and will turn to a competitor if encountered with a bad service experience. No matter what type of business you are, your customers always want to be heard and treated well.
Some challenges seen within our industry ar:
1. Response times
2. Not having an answer to a question
3. Failing to understand what customers want
4. Accepting responsibility
5. Resolution - Leaving a customer’s complaint unresolved
3. Failing to understand what customers want
4. Accepting responsibility
5. Resolution - Leaving a customer’s complaint unresolved
This can lead to many side effects, for example;
1. A damaged reputation
2. Loss of business & returning customers
3. Loss of our best employees
4. Lack of respect where the key to winning over your customers is to treat them with utmost respect. This requires training customer support staff to be extremely courteous and friendly towards all customers no matter what the medium of communication is
DACX Exchange
New technology enables a global business to reach new audiences around the globe to ensure a pathway for international clients now than ever before. Organization have been hampered with not ensuring multi-language support is part of the ongoing strategy, customers should always be at the core of your business objectives, and part of this is providing them with a seamless experience.
A multilingual help desk, whether in-house or acquired through outsourcing companies is key as the product grows A trading matching engine is a software used to match buy orders, bids, and with sell orders, offers. It is the most crucial part of any exchanges as this is what allows users to trade with one another and the entire reason why they registered on the platform. Trading matching engines follow an algorithm that determines a set of rules they must abide by, how they work, how many orders they can handle across how many pairs and how long it takes. A multi-threaded process is more advantageous, but only a few crypto exchanges implemented it as it requires more work, experience, and time to build.
Security
To ensure the safety of digital assets in our custody, we will be utilizing four types of crypto wallets:
1. Hot Wallets These are the wallets kept on our internal servers for frequent transfers. Only a fraction of funds will be kept available for frequent transfers. All Hot Wallets come in encrypted form and decryption keys are only applied by authorized personnel at predetermined intervals to approve outgoing transactions. This prevents any asset loss in case our internal servers are compromised.
2. HSM Protected Semi-Cold Wallets Those are offsite wallets held by companywide hardware wallet solution with governance, multisig and access limits enforced by a Hardware Security Machine. Multiple signatures from authorized personnel is needed to approve a single transaction and the access is limited to private network terminals.
3. Hardware Wallet Integrations A comment on Ledger hardware wallet integration nano, and X (with Image)
4. Cold Wallets These wallets are kept offline and transactions are signed on offline computers by senior management executives.
Assets
DACX Exchange will be listing USD Stable coin and BTC pairs for all high cap exchange coins and utility tokens. We will be phasing in the listings by taking the input from the members of the community. More coins will be added over time. We generally will only add exchange coins and utility tokens that have strong credibility, user base, and liquidity. For existing or upcoming projects that wish to be listed on DACX Foundry for primary offering or for secondary market trading on DACX Exchange, should reach out to benefit from our promotional listing terms and fees. DACX Exchange platform is scalable in terms of tech and practical application therefore by in by Q1 2020 we intend to have a phased roll out of STOs for primary issuance and secondary trading. Our roadmap is online for an Up-to-date progress indicator.
We will roll out the platform in roughly the following order:
1. Spot trading of Exchange coins & Utility tokens
2. Primary offering and secondary market trading of Security Tokens
3. Margin trading of Crypto Currencies
4. Margin trading of Fiat Currencies
5. DEFI
Supported Platforms
1. We will provide cross-platform trading clients for:
2. Web-based trading client
3. Android native client
4. iOS native client
5. REST API
6. Web Sockets
Features
Some of DACX’s key features are, but not limited to:
- 2FA
- Crypto to Fiat
- Banking Rails & Settlements
- Anti DDOS
- Hardware Wallet Support
- Foundry
- MultiSignature Wallets
- Universal Wallet-Remit Cross border payments
- Virtual Debit Card
- Security Token
Affiliate/Referral Program
DACX offers an Affiliate/Referral program to enhance brand awareness where different rewards are available based on different levels of verification and holding. Total Number of DACX Rewards are limited to a maximum of 5,000,000 Tokens. Rewards will be distributed at the end of the campaign based on completion period.
UI Preview
DACX Token (DACX)
We have issued our own utility token, called the DACX Token. A strict limit of 786,786,786 DACX has been created, never to be increased and total supply will be reduced through frequent token burns. DACX token will run natively on the Ethereum blockchain under ERC 20 token standards.
Universal Wallet
Universal Wallet is the core storage unit of DACX Remit. It makes use of DLT, traditional banking and custodians to store the following types of assets in one wallet: Fiat Money
- Crypto Currencies
- Utility Tokens
- Security Tokens (STO)
- Stable Coins
- Commodity Tokens
Allocation
- September 2019-Pre-Registration
- October 2019-Pre-Launch IEO
- Q4 2019-Exchange Launch
- Q4 2019-Fiat Gateways
- Q1 2020-Expand Operational Jurisdiction to EU & Asia
- Q1 2020-Cross Border Payments
- Q1 2020-STO Integration
- Q1 2020-Virtual Debit Card
- Q1 2020-Bridge Remit & Exchange
- Q2 2020-Margin Trading
- Q2 2020-DEFI - Lending
- Q2 2020-Expand Operational Jurisdiction to NA
DACX Team
1. ZEESHAN CHAUDHRY: Founder | CEO
2. FRANS KLERKS: Head of Marketing
3. LISA LI: Regional Marketing & Communication
4. ISMAIL TARIM: Cyber Security & Blockchain Engineer
5. CURTIS PAVLIK: Regional Sales & Operations
6. JAMES WACKETT: Regional Business Development
7. FRASS MASROOR: Full Stack Developer
8. UMAIR JAWAID: DevOps & Platform Engineer
9. PETER MACDONALD: Business Strategist & Partnership Commodities Division
Advisors
1. RICHARD GARDNER: CEO Modulus Global
2. LAURENCE KIRK: CEO of Extropy.IO
Conclusion
Exchanges are the lifeblood of cryptocurrencies and therefore they need to be user-friendly, they need to provide liquidity for the industry as a whole and they need to be super secure. The advent of security tokens is going to be simply huge in this space and once again, the exchanges that achieve full regulation and compliance will come to dominate the crypto/blockchain arena of the future.
To get even more accurate information please visit the link below:
- https://dacx.io/
- https://twitter.com/dacx_io
- https://www.facebook.com/dacx.io
- https://www.linkedin.com/company/dacx-group
- https://t.me/OfficialDacx
- https://github.com/DACX-io
- https://dacx.io/wp-content/uploads/2019/09/DACX_WhitePaper.pdf
AUTHOR
Bitcointalk Username: Dewi08
Telegram Username: @ dhewio8
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=894088
Wallet address (eth): 0x53D1Ea8619E638e286f914987D107d570fDD686B
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