Beldex’s first offering is a taxi booking service with the ability to autonomously set price rates for different places at different times. The power of a decentralized taxi service utilizing blockchain technology creates new efficiencies as prices are set by aggregating those offered by customers and approved by drivers.
This is just one of many examples of how big data and blockchain technology is reshaping our daily lives. With the release of its decentralized ecosystem. Beldex aims to create a wider range of use cases for cryptocurrency worldwide.
The Beldex team has worked to produce a cross functional and “outside the box” platform. This is done by transforming the already existing cryptocurrency ecosystem into something more practical.
Beldex has produced a “privacy enabled” coin for its network, while evolving its untraceability features. As a result, Beldex Coin can be used for both traceable and untraceable transactions. The coin itself has multifaceted uses on the Beldex platform.
The Beldex ecosystem includes the taxi service named Bel Trips, and a delivery service named Bel Needs for delivery even to far-flung local places. There’s also the Beldex Debit Card allows coin holders to spend their balances even with merchants outside the network. Together, all these form the Beldex ecosystem.
Let’s take a look at the technology behind Beldex Coin: optional sender privacy is protected using Hexagonal Ring Xtensive Transactional Signatures, where the senders’ public keys forming the ring are mixed together, obfuscating the original sender. It utilizes the Schnorr algorithm using the Ed25519 curve. Transaction amounts themselves are also protected by ring confidential transactions, which morph the figures by multiplying them with a random number generator function. It uses Pedersen commitment for this process.
The cab industry worldwide is valued at around $44 billion USD and has gained prominence from last 15 years, with a CAGR of 8.47%. It’s anticipated that a decentralized taxi cab service could double that in the next five to eight years, in terms of monetary value and CAGR.
The concept of making deliveries to a widespread and hyper local consumer base has also been gaining attention as technology advances. This untapped market can be made more profitable with the advent of a decentralized platform, one that purely satisfies the barter-style needs of Beldex coin holders within the ecosystem.
Beldex Coin holds real value within the Beldex ecosystem, with the potential to make it more useful than local fiat currency. Both service providers and users will be able to hold, save and spend the coin with peace of mind.
The company’s vision is to ensure the coin remains liquid, and rewards coin holders in the Beldex user base. A pre-sale of the tokens kicked off on May 10th 2018. Anyone can purchase the coin and become a part of the wider Beldex ecosystem.
Stay tuned for more updates, as Beldex aims to continually conceptualize and develop value-added wins in the cryptocurrency sector, disrupting the status quo and introducing new innovations well into the future.
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