When it comes to business standards, crypto adoption is yet to be improved. The reason behind this fact is that not many business owners believe that their customers believe in crypto. Aurix CEO Majed Mohsen decided to solve this issue by inventing a platform that will fast-track the adoption of crypto by these customers. As a result, businesses will follow their customers.
The adoption of crypto by the eCommerce sector can bring about a massive change. Crypto is reliable, fast, liquid, and it makes a person independent, free of a third party. Aurix CEO Majed Mohsen saw the future ahead of others.
Hurdles in the integration of crypto with eCommerce
Majed Mohsen could look through the eCommerce world with a deep understanding of what people want from his experience. He recognized the hurdles in the adoption of crypto. While the crypto world is based on a considerable amount of significant data distribution over networks, many problems are related to it.
Crypto transactions are slow because the blockchain blocks have a size limit. Due to the limit on the blocks of a blockchain, crypto has a scalability issue.
In about one year, 122 hacks occurred on the Bitcoin network, which is a very high amount. Although the number of attacks is reducing each year, one needs to realize that security is a significant issue with the adoption of cryptocurrencies.
Crypto exchanges are deemed to be complex and out of reach by many users. The sole reason behind this is the lack of responsive and secure exchange wallet APIs, which is the actual need of the hour.
Aurix CEO Majed Mohsen’s approach to these problems
Aurix CEO Majed Mohsen, a man of foresight, saw beyond problems in the crypto world and built the Aurix Chain and the Aurix Token that will operate under the Aurix Ecosystem.
Aurix Ecosystem consists of the exchange as well. The business will provide a fast, stable platform with the help of Aurix Chain. In reality, the primary blockchain of the system is layered with the use of another chain to build a more secure and faster gateway. Aurix payment gateway cannot be easily hacked, and it would require a lot of workforces to implement a DDoS attack successfully. With the provision of ample security, business outfits can perform more fast and secure transactions.
The Aurix Token can be easily used and transferred between the merchant and the customer allowing the customer to receive cashback, too. The cashback depends upon the amount of Aurix Token staked. The staking of Tokens in the Aurix system allows the customers to contribute to the network’s security by validation of transactions and, as a result, will get rewards of up to 90 percent cashback. Aurix CEO Majed Mohsen is the first person in the world to come up with this concept of cashback and staking of Aurix Token or AUR.
Members can use Aurix Mastercard/Visa for payments in businesses that accept crypto and get a cashback of around 9 percent. This cashback percentage is not absolute, i.e., it might change in the future. Once this card comes into the picture, crypto adoption by customers will increase, and as a result, eCommerce business owners will have to follow.
The adoption of crypto by the eCommerce world is a goal that Aurix CEO Majed Mohsen wants to fulfill, and with the help of Aurix, he seeks to change the entire landscape of the eCommerce world. Once the adoption of crypto is fast-tracked in global businesses, transactions will become faster, secure, and unregulated.