[PRESS RELEASE: MAY 25, 2020]
Novel blockchain platform, BlueKey has announced the listing of its native token (BKY) on CoinmarketCap. This represents another important step for the platform which provides visible utility and real-time use-case for the blockchain ecosystem.
Apart from being listed on CoinmarketCap, the BKY token is now also automatically visible on the TRUST WALLET. BKY users no longer need to go through intermediary tokens to extract value from their digital assets.
SEE ALSO: Africa was Second Fastest-Growing in Youth Crypto Adoption with Nigeria Leading Globally, Says Q1, 2020 CoinMarketCap Report
Using BKY to Disrupt Finance
Over the years blockchain technology has stirred up a lot of expectations as a solution that will improve most of our traditional processes. One area where blockchain disruption has made the most noise so far is in financial solutions. By enabling peer-to-peer (P2P) transactions, blockchain is eliminating a lot of bottlenecks that have limited the finetech industry.
With the evolution of e-commerce and payment solutions, effective P2P systems are becoming more popular. Despite this growth in the industry, real use case implementations are yet insufficient to the prevailing industrial needs. Therefore, the creation by BlueKey represents a major contribution to the financial solution and e-commerce sectors.
With primary focus on the African region, where there is a dire need for financial inclusiveness, BlueKey is solving a continental problem that could spread even beyond Africa.
According to the founder of GalaxyChain Technologies, owners of BlueKey, Suanu Neenwi, the company aims at becoming a leader in Africa in the provision of key financial solutions using crypto:
“Our vision is to become Africa’s leading crypto-financial hub, with a mission to provide instant credit facilities to the user community backed by our native token(BKY) as collateral asset.”
Bringing Life to Small Businesses
Credit accessibility is indeed a difficult terrain for the common man in Africa. This is one of the achilles heels that keeps holding back the continent from active development. The difficulty in accessing credit facilities has led to an almost non-existent small and medium scale industries.
In the absence of capital, or inability to access credit facilities, small businesses have found it difficult to survive.
GalaxyChain, with its products have come to change this narrative and open up the industry for small businesses especially to thrive. Entrepreneurs and small business owners can now easily access credit facilities, using their BKY tokens as collateral. This eliminates the usually cumbersome processes of tedious paperwork and unachievable conditions in most cases from traditional banks.
Also within the ecosystem, on the BlueKey e-commerce platform, BKY provides a flexible and unified payment system for customers. This is a marketplace where you can perform all your transactions using the singular token, thereby saving yourself from the previously complicated processes associated with traditional e-commerce platforms.
Users of BKY will no longer encounter cross-border payment complications such as exaggerated fees, delayed transactions, regional payment restrictions among other bottlenecks.
The Four Pillars of GalaxyChain
BlueKey’s financial ecosystem is being built on the Ethereum network, this will enable it to effectively serve all categories of users both in Africa and beyond. Using the BKY utility token which runs on the Ethereum network, BlueKey is able to offer financial inclusion via four main products:
This is a product that aims to solve critical banking issues. It is a solution that will enable financial inclusion and be beneficial especially to the unbanked and underbanked communities of the world. GalaxyWallet is available for download on GooglePlaystore.
The GalaxyExchange is a solution that bridges the gap between the existing fiat-based economy and the emerging digital assets ecosystem. All crypto-fiat exchanges in the ecosystem are executed in a P2P manner at: GalaxyChainnetwork.com
This is a blockchain-based loan solution, where customers can access instant loans. The solution introduces one of the internal use cases of the BKY token. It serves as a collateral for loan applications on BluekeyPay.com
As mentioned above, the BlueKey e-commerce platform is a hub for entrepreneurs. It provides participants with a simplified opportunity of engaging in online businesses and creating wealth for themselves. Anyone from anywhere in the world can easily rent a virtual store and carry out their e-commerce on bluekeymarket.com
Listing on CoinmarketCap is only one of the numerous fundamental requirements that has already been met by the BlueKey blockchain solution. Moreover, this is a timely solution that has come at a time when the world is evolving into remote operations. Owning and interacting with virtual stores is one aspect of life that is becoming a fundamental part of the human regiment.
BlueKey does not only offer an opportunity to own and operate a virtual store. It also provides all the necessary tools for a seamless transition between the existing traditional systems and the emerging world of digital operations.
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