There has been a distinct difference between traditional money and cryptocurrencies making it difficult to relate the two. But there has been a revolution in the financial sector lately aiming to eliminate the differences arising between cross-border payments to make transactions and compliance issues easier to handle.
What Is GlobelMoney?
Founded in 2014, The GlobelMoney Group seeks to offer the following money transfer solutions, exchanging services and banking at excellent rates.
Having in the market for four years, this was the first project that sought to smoothen and quicken the online money transfer business. It has since been successful and prompted the Group to launch the PayGlobel.
GlobelMoney being a good project could not provide all services that would streamline the online money transfer business. For this reason, the Group launched the PayGlobel project to provide all the services they could not provide for in the initial project.
PayGlobel seeks to offer leading payment solutions between wallets, cryptocurrencies or traditional money.
Through the GlobelBank, the Group seeks to provide 4G Modern Banking. The launch of the Coin of 4g Banking- GlobelBit, aims to finish the difference between e-money and traditional money.
As a leading global online money transfer service, GlobelMoney enables online transactions by individuals and businesses. Expats and Migrants are able to send or receive money from their home countries or make online payments through credit or debit cards, or bank transfers. GlobelMoney allows its customers to make use of digital currencies and use their smartphones or tablets for direct transfers to mobile wallets, airtime top-ups on their mobile phones, and cash pickup or delivery.
In a nutshell, GlobelMoney is a platform for exchanging funds between online wallets.
How Does GlobelBit 4G Banking Cryptocurrency Coin Work?
As is the expectation with cryptocurrencies, the GlobelBit transactions are untraceable. It provides its users with the much-needed confidentiality as the payment scheme is completely anonymous. It makes use of the ring signature technology which allows a member of a group to create a message and sign on behalf of a group without other possible signers distinguishing themselves.
The GlobelBit also ensures that the transactions are not linkable. A receiver has a single public key that allows unique one-time addresses to be derived. Funds can only be received by the receiver after funds are sent to these addresses making it impossible to cross-link these payments.
The digital currency has double-spending proof which makes it difficult for a user to spend the same money twice, despite all his signatures being anonymous. It makes use of key images which makes it impossible to restore the corresponding secret key thus prevents double spending. It is based on a one-way GlobelBit function.
The GlobelBit makes use of the Blockchain technology which ensures non-repeating one-time addresses and mixed keys in ring signatures. This helps in mitigating key re-usage and ensures one-input-one-output tracing.
Lastly, GlobelBit makes use of the egalitarian proof of work which acts as a voting system where all participants have equal voting privileges during the voting process.
GlobelBit GBNK ICO Details
The GlobelMoney Group has just rolled out the ICO for the Coin of 4g banking. And as the company sets out on its journey to the Blockchain era, the coin will be exchangeable on PayGlobel and available for use globally. This journey will definitely be worth your while.