SAN FRANCISCO (PRWEB) November 20, 2018
The Monetary Authority of Singapore is in the process of giving shape to its progressive strategy to adopt cryptocurrency into its financial sector. The gradual ingress of the blockchain revolution into this South Asian country has given brought to the surface a sea of competing altcoins. These vye for a top rank in the hierarchy of cryptocurrencies. HCX is leading in this competition, having rapidly become a popular utility token to trade and execute online transactions within Singapore.
Singapore’s outstanding communications network has presented it as a land of great potential for cryptocurrencies and blockchain technology. Its proclivity for Fintech, and its status as a financial hub has allowed several cryptocurrency start-ups to thrive in its economic sphere. These start-ups come with their native assets with a number of uses, the largest segment of this market being digital payments with a total transaction value of USD 9,161m in 2018.
However, most of the utility coins that make it to the market do not make the cut when it comes to adhering to set guidelines. HCX by prominent blockchain company, HashCash Consultants, is one of the few that meet every protocol in the industry pertaining to cryptocurrency. Its efficiency compared to its contemporaries makes it a standout product. It is highly scalable, with the capability to execute 3000 transactions per second, and more than a hundred million transactions a day. At 75,000 transactions per second, the network scalability exceeded the throughput of current payment networks such as Visa, in a test environment, with the implementation of SegWit.
HCX is being widely adopted to settle online payments by an increasing number of e-commerce platforms. This is because transactions take a mere 2-4 seconds in a more than thousand node environment. The crypto coin is presently utilized for remittance, corporate payment, trade finance, commerce and forex deal.
The cryptocurrency market is a global one, and cryptocoins that make a mark in the leading economies see a subsequent surge in value and use in most regions open to blockchain and virtual money. The total transaction value of cryptocurrency is expected to show an annual growth rate (CAGR 2018-2022) of 14.2% in Singapore alone, resulting in the total amount of USD 15,584mil by 2022. This is decidedly the most opportune period to recognize and invest in the most promising cryptocoins.
About HashCash Consultants
HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins. HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.