X-Infinity is a unified cryptocurrency wallet that allows the users to transact conveniently using any blockchain asset as a currency. Users can simply store their cryptocurrencies into the XIF wallet, and instantly convert them into Fiat. X-Infinity allows the transaction to be done easily, securely and quickly through the XIF wallet, which makes cryptocurrency readily available to the general public, settle payment almost instantly, transactions cheaper, identities kept private and impossible for anyone other than the owner of the wallet to make any payment.
Please Note: This is a Press Release
X-Infinity uses the XIF exchange network to connect and exchange any asset on any blockchain to any other blockchain. The COMIT protocol is similar to what the Internet’s TCP/IP protocol in that COMIT connects blockchains together. Using this network, X-Infinity is able to make cross-chain transactions.
X-Infinity’s mobile app is live and functional, available for Android and iOS. The mobile app is where users manage their XIF wallet. Currently, users can access their account settings, buy XIF coins, send XIF coins to other users.
X-Infinity will issue a debit card in the fourth quarter of 2018. The X-Infinity debit card will be a standard-issue card that acts a proxy to the XIF wallet. The card holds no data, only acting as a ‘virtual gateway’ to the X-Infinity wallet, which manages the accounts and identity credentials. By 2019, X-Infinity plans to support fiat funding and exchange between fiat and cryptocurrency.
X-Infinity provides business intelligence and marketing tools for merchants. These include insights into users’ preferences, ability to offer reward points, preference towards a cryptocurrency and automatic discounts when a certain cryptocurrency is used. These tools can be accessed through the X-Infinity App, and are compatible with standard issue point-of-sale (POS) equipment.
Non-intrusive integration into daily life. Using X-Infinity for online or offline transactions requires minimal change: Merchants and consumers need no new POS hardware, training nor change in behaviors as the use of the XINFINITY debit card is the same as using a standard issued card.
Compliance with industry record-keeping standards makes it unlikely that regulations will be a problem down the road. It is stated in the whitepaper early on that the ledger system is based upon international standards and will comply with all Singapore laws for record keeping. X-Infinity maintains a complete transaction ledger for all transactions performed on the blockchain. Funds are tracked from original input into the system, through to settlement back to the merchant in their local currency or their cryptocurrencies. These meant complete auditability and visibility of holdings at all times.
Adoption of X-Infinity in the global markets, transaction fees can be reduced by USD $250BN. Leading traditional payment systems such as PayPal and Visa or MasterCard charges up to 2.6% for domestic transactions, and 3.4% (excluding fixed fees and transaction failure fees), whereas with cryptocurrency transactions fees are under 1%.
X-Infinity has a transaction speed of average 1 second, a fraction of BTC and ETH. This would be practical as it could replace debit/ credit cards.
Eddie Chong, X-Infinity CEO and Founder, has a decade worth of experience in finance and has been mining BTC for 3 years. He has formed a diverse team of highly competent individuals in the field of finance, business management, legal affairs, marketing, public relations, corporate governance and blockchain.