More

    Financial Blockchain Company FUSION Announces $12.28 Billion ‘Commercial Deal' to ‘Shock Wall Street'

    FUSION Blockchain Announces $12.28 Billion Locked-In Digital Assets

    New York-based financial blockchain company FUSION announced earlier today that $12.28 billion worth of digital assets have been locked-in to the FUSION crypto-financial platform. The startup is calling the locked-in assets “one of the biggest commercial deals secured by a financial blockchain company to date.”

    FUSION’s platform allows customers to “lock in” funds. By locking-in funds, a third party deposits assets onto the FUSION blockchain to be transacted upon or managed there. FUSION is proposing its platform as a way for crypto-assets to interact with real world use cases and mainstream finance. You can lock-in bitcoin on FUSION’s blockchain, for example, or lock-in traditional financial assets.

    FUSION’s press release is attempting to make a huge deal out of this announcement. “FUSION Shocks Wall Street with USD12.28 Billion Announcement,” begins the press release in dramatic fashion.

    The press release goes on to describe the news as a “commercial deal”, which seems to suggest that FUSION has received $12.28 billion in financing or signed a $12.28 billion deal with a company. In reality, this release simply indicates that $12.28 billion of assets have been locked into the FUSION platform. Calling this news “one of the biggest commercial deals secured by a financial blockchain company to date” doesn’t seem entirely accurate. FUSION doesn’t actually have control over the $12.28 billion: the assets have just been secured on the FUSION blockchain.

    Confusion aside, the company’s platform allows users to add other blockchain assets and traditional financial products to the FUSION Blockchain, regardless of which chain they’re currently on.

    FUSION’s platform could be used to digitize and tokenize financial assets and fixed assets to ensure effective circulation in the financial system, for example. Companies could use FUSION to “tokenize” traditional shares or stocks on the blockchain.

    Other proposed real-world use cases for FUSION can include digitizing the financial assets of a car dealership platform with revenue of over $10 billion per year or developing an effective system for supply chain and e-commerce financing.

    $12.28 Billion of Assets Have Been Locked Into the FUSION Blockchain

    As mentioned in a press release earlier today, FUSION just surpassed the $12.28 billion mark, indicating that $12.28 billion of assets have been locked-in on the FUSION platform.

    FUSION’s platform can lock-in mainstream financial assets as well as other digital tokens. Today, the FUSION blockchain supports four main token types, including BTC, ETH, ERC-20 tokens, and USD Tethers. In the future, FUSION plans to expand to accept all digital assets controlled by private keys.

    When locking in assets on the FUSION platform, users enjoy features like a “time lock” that adds time as a third dimension of value in addition to the type of token and the amount of tokens. There’s also a short address notation that simplifies token addresses, reducing account complexity and string length. Cross-chain smart contracts, new token issuance protocols, and token swaps are also supported on the FUSION platform.

    What’s Next for Fusion?

    Overall, FUSION is marketing itself as an “innovative platform that connects various forms of blockchains.” It unifies digital assets and financial assets cross-chain while adding them to the main FUSION blockchain. In February 2018, FUSION launched an ICO for its FSN token.

    Now, after their successful crowdsale, FUSION has clearly attracted a significant amount of assets to its platform. You can view the press release announcing the $12.28 billion “deal’ here. However, take the dramatic press release announcement with a grain of salt: FUSION doesn’t appear to have actually signed any “commercial deal” for $12.28 billion, nor have they “shocked Wall Street” as claimed by the press release. It’s still a big deal to have $12.28 billion of assets secured on the FUSION blockchain, however, and the future looks bright for FUSION.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,353FansLike
    2,773FollowersFollow
    4,130FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Crypto Community Sentiment Still Bullish Despite BTC Trading 40% Lower Than Yearly High

    Bitcoin proponents had a lot of expectations from 2020, given the impending Block Reward Halving and the expected bull run. The year started as...

    Modern Monetary Theory (MMT) vs BTC to be the Main Event of 2020

    The biggest global emergency of the century, COVID-19 pandemic has the Treasury officials trying to decide on how much they can spend to fight...

    This Crisis Is A ‘Perfect Storm' For Bitcoin But We Could Be In For A ‘Prolonged Bear Market'

    Bitcoin is back in the green, recording the gains of 3.14% in the past 24 hours while volume on the top ten exchanges with...

    Banking Giant Santander to Bring One Pay FX Payment System to Mexico Utilizing RippleNet

    In 2020, the major Spain-based bank Santander is planning to roll out the One Pay FX program, its Ripple powered system for international payments,...

    Bitcoin Bull Market Won’t be Happening Immediately After the Halving: Bitmain CEO

    Bitcoin is currently trading above $6,300, still down over 14% on a year-to-date basis but up more than 60% from the 2020 low of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.