Aurix CEO Majed Mohsen figured out a way to help people understand why crypto is essential. There are plenty of benefits of crypto, but not many use crypto than the number of people fiat currencies mainly because people don’t know the value of crypto.
If we compare the number of businesses that use crypto over the years, this graph gives a clear picture:
Source: statista.com
Although there is an increase in the numbers, it is relatively small, and the primary reason behind this slow growth rate of crypto is the lack of secure incentives and rewards.
Aurix Chain and its role in cashback transfers?
Consider a situation wherein you go to a shop and try to pay crypto. If the transaction takes a long time for validation or multiple glitches in the payment gateway, you will pay with fiat currency instead.
There is a logical play here. The thing is that whenever a user wants to buy something from a vendor, he wants the product immediately, and this is the reason why crypto hasn’t been able to grow much in recent times.
Aurix CEO Majed Mohsen identified this issue, and therefore, a new platform came into existence.
The Aurix Chain is a part of the Aurix Ecosystem, and it is responsible for the proper working of the following:
- Aurix Exchange: A significant and massive part of the Aurix Ecosystem entirely runs on the Aurix Chain. The blockchain is responsible for transferring payments from one person to another at incredible speeds and unbelievable accuracy. Aurix Exchange is responsible for calculating and storing Aurix Tokens staked by a person and the payment method.
- Aurix Token: The staking of Aurix Token is responsible for colossal cashback received by the traders. The more Token staked, the more is the cashback that they receive. One can get cashback up to 90 percent! The Aurix Chain maintains and validates the Token and ensures that everyone will get their cashback even after a hundred years. It is the Aurix Chain that helps the cashback process in being hassle-free.
- Aurix MasterCard/Visa: A person who uses Aurix MasterCard/Visa to pay a merchant will get as much as 9 percent cashback.
Aurix Chain maintains the above platform: Every person who uses the platform gets his or her cashback with 0 penchant chances of error.
Aurix Cashback Benefits
Aurix cashback provides as much as 90 percent cashback to the people who stake Aurix Token and participate in the validation process. For other users enjoying the services of MasterCard, 9 percent cashback is reserved.
As a result of such benefits, one can expect many people directed towards crypto adoption for customers. Aurix will provide faster and secure payment methods, and therefore when customers start using this, eCommerce businesses will follow.
In the grand scale of events, one will notice people shifting their use of traditional payment gateways and adopting more crypto-friendly gateways like Aurix. With this, one can expect a considerable change and the initiation of the crypto revolution.
Conclusion
Aurix CEO Majed Mohsen saw this entire scenario a long time ago when the crypto world was still new. The difference that the existence of crypto has made in such a short time is tremendous. With the development of Aurix, you can use its plug-ins even to pay a shopkeeper with crypto without any difficulty. Thus the scenario has entirely changed, and when the time comes, a large number of businesses and customers will be using crypto payment gateways.
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