Sometimes when I personally introduce the concept of SparkPoint Ecosystem to people who are not familiar with the Blockchain technology and cryptocurrency, I receive this question a lot — “What?”
And every time I’m asked like this, I’m finding myself like a broken disc repeating over and over. So to end this routine, let me answer this question here.
SparkPoint Ecosystem may look like “just another Blockchain project” but wait, this project is not just like that. SparkPoint Ecosystem is not just a project that uses Blockchain and Cryptocurrency to digitized assets or to participate in the trade but this is a project which will prove that using this technology will actually solve difficulties with the existing financial economy and will address the problems of grassroots communities.
So, let me tell you the story. With my experience in community work and Andy’s expertise on Blockchain and crypto-trading, we have come up to an idea that we will be able to participate in the trading and at the same time, apply the Blockchain Technology to solve problems that we have identified during the research including large number of financially excluded population, high remittance fees, lack of people’s knowledge on the power of Blockchain and the cost of entertainment without any return of investments.
These problems are being experienced not just by you, but also by us, thus, we have come up to a concept of creating one application with four different platforms, each will help resolve these problems and create a better financial economy in the future; a digital payment gateway with crypto-currency exchange integration, an e-learning facility for financial literacy and Blockchain technology, an online marketplace that uses virtual currencies as mode of payment and a gaming store which features crypto-based games.
Let’s start with SparkX. Have you ever experience paying a fee of almost 10% of the amount of the money you are sending for someone you know? How about your services being interrupted even you paid on time since it takes three business days for payment confirmation? And the worst, when you try to claim the money it has already been claimed by someone who posed as you? Well, with SparkX, that won’t happen anymore.
SparkX is our e-wallet and digital payment platform that will let you send and remit virtual currencies (and soon, fiat currencies) with a very minimal fee using our own SparkPoint Token (SPRK) and being sure that the money has been sent and received by the right person in an almost real-time process with the Blockchain Technology. And having this digital payment platform you will be able to pay your bill on time and the biller will receive the payment without waiting for three business days.
And just like what I’ve mentioned above, this platform is also integrated to cryptocurrency exchanges which you trade virtual currencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash and of course our very own, SparkPoint Token. With this wallet you can store such currencies and have your own bank at your fingertips and pay cryptocurrencies in micropayment transactions with our partners, thus, reinventing digital payment.
While complying with Know-Your-Customer standards, we will be implementing an efficient KYC method to encourage more people to participate and promote financial inclusion.
The second platform in the application is the SparkRoom, our e-learning facility or portal. We have found out that number of reasons why people are not participating in the banking system because of the lack of financial literacy including the importance of financial management, and financial services such as credits and loans and saving accounts.
SparkRoom will contain courses and programs about financial literacy and Blockchain Technology, thus, more people will be able to know the significance of participating in banking and the benefits of Blockchain Technology in their daily lives. We will also encourage more people to create their own Blockchain-based project to build a better future.
Before I continue, I want to be honest to you all. Originally, SparkPoint Ecosystem is only composed of the first two platforms but with further discussion, research and brainstorming session with other people, we decided to create these following platforms namely, SparkPlace and SparkPlay. I’ll discuss more with my next article.
This article was originally published on Sparkpoint Blog by Kim Gamora and has been republished here with permission.
Disclaimer: Digital currencies or Cryptocurrencies are highly speculative in nature and involve substantial risk of loss. Written information and infographic content that is available here at the wallbullbear site and on at wallbullbear official social media pages are paid and directly derived from whitepaper or Press Releases provided by start-up companies. Therefore, I cannot assure anyone that the information is accurate or complete… Read More