The blockchain industry’s revolution has allowed people to use their money in a very different way. Now, people can make untraceable transactions and use a deregulated market. On the other hand, many people are missing the lack of information about transactions in this market and this is why companies like GXShares GXS, which we will review today, were born.
What is GXShares GXS?
GXS is a service with the objective of making data and credit information available to any person. This service, based on the blockchain technology, has become a secure and fast way to trace transactions and verify credit using big data information.
This company offers the possibility of its users finding an abundant first-hand data source. It will be able to verify many governmental data sources like tax authorities and social security to gather the data. This data will be precise and unfalsifiable.
GXS will be the only platform that will be able to offer data precipitation, real time data capabilities and full availability to common users, which now will be able to access this data that was denied for them for a long time.
This company was created by a team of Chinese developers who work with security and information for a long time, so it looks like you could trust them to make a good job with this project.
How Does GXShares GXS Work?
Basically, what the GXS does is to provide you with data about credit and transactions from a giant pool of big data, but why would you use all this information for? Insurance companies, for instance, could use that data, as well as online loan entities to make background checks on their clients. Banks and consumer loans companies would also find the opportunity to access this information interesting.
Not only companies but even people could find uses for this data because they could discover interesting information that would not be available otherwise. Investigative journalists, for instance, could use this information to uncover information about people who they are investigating.
The company also states that information like this could be used for apartment rentals and for hiring people who would work closely with you in an office or at your home (like housemaids). It even states that you could investigate the people who you are dating or socializing with (which is actually a bit creepy, if you ask us).
The company has already created its first decentralized app (dapp) using the GXS technology. The GXChain will let its users create a blockchain identity and be able to visualize and manage their information as they see fit (without having the ability to falsify it, of course, because everything will be checked).
GXS has also launched a cryptocurrency wallet that you can use. It is available for Windows, Mac, Linux, Android and iOS.
How to Invest in GXShares GXS?
At the moment, this company does not have an Initial Coin Offering (ICO) planned, so you will have to wait for one before you can actually invest in it. We will update this information soon if the company does launch its own ICO.
The GXShares GXS ICO Verdict
Is the GXShares platform something that might be interesting for you? Possibly. We have stated during our review many of the uses that such a platform could have. It could be excellent for business and for hiring people and even for personal uses like knowing more information about the people that you are next to. The only downside is that there is still information missing.
We cannot say for sure if this company will be a great investment in the future if we do not for sure the price of its tokens if it does decide to start an ICO or more information about how the platform will actually work. GXS is a very interesting project, but it is still a project, so we cannot be sure that it will be as good as it looks and this is an obstacle when you need to give a verdict about it.
Because of this, you should wait more time until more information about this company is available and you will know more about it. Keep reading our blog to find out all the news related to this company.