FULEEX

INTRODUCTION

Fuleex aims to become an integral payment system for people passing on to other people around the world, with a strong desire to reduce the existing high costs of cross-border money transactions. Using the Blockchain Technology Fuleex platform with Money Service Center partners in more than 20 countries, Fuleex will help users to save high transfer fees charged by institutional financial services institutions. Fuleex also built full cryptography with the main focus in the APAC region.

Fuleex is important, because we are trying to overcome the non-banking economy with Blockchain technology.More than one third of the world’s adult population does not have access to adequate and effective financial services around the world.This is pretty amazing statistics in today’s context, given that the world is very interconnected. Most of this group of people comes from emerging markets with low and middle income. According to the World Bank, more than 2 billion people still do not have access to banking services.This indicates that there are many more opportunities to improve the lives of people falling into this category. The World Bank and its partners set ambitious goals to achieve universal financial access for adults of working age by 2020.

Much of this goal is to focus on cellular financial services. This is more realistic than creating physical infrastructure in more areas because of the increasing level of Internet access in emerging markets, which increases access to cellular telephone networks. Above this, finally, the most important factor for this user group is an  economically profitable transaction .  They will not be able to pay the usual fees collected by banks and money transfer companies to transfer payments, especially when making cross-border payments. This situation must be taken seriously, because in the world in which we live today, very often people travel abroad to get decent work and earn a living for their families in their native cities.

The Impact of Blockchain Technology

Blockchain technology is a general book transaction that is distributed between a large network of computers  without requiring the approval of a central authority. There are several ways in which blockchain can benefit the cross-border payments industry, which in turn can benefit the global economy that does not have a bank account. First, we need to understand how this works. Transactions that occur during a certain period are checked and recorded as “blocking” transactions. This block is then added to the “chains” of the blocks, which are past transactions.

Blockchain is based on 4 main pillars; peer2peer, cryptography, smart contracts and accounting books. Simply put, blockchain automatically facilitates transactions in the general ledger when certain conditions are met.Thanks to such opportunities, the use of blockchain technology in cross-border monetary transactions can reduce costs and increase efficiency. This is possible, because it allows you to cut intermediaries (in this case, banks and financial institutions). With the fees currently charged by companies with money transfers, such as Western Union, foreign workers suffer most because they carry high interest rates only to transfer a small amount of money to feed their families in their home country.

In addition, the transaction of the block chain is transparent and unchanged  . When you make a transaction, you can see the status on the Internet for yourself. When the required amount of verification is performed, the sender will be able to observe when the amount is transferred to the recipient and the receiver can immediately see the amount reflected on the balance sheet. The appearance of this transaction remains, and no one can change it in the main book.

This effective method of payment through P2P will violate the entire payment system, since users no longer need to pay too high commissions for banks and financial institutions as intermediaries  . When they are connected to cellular services, foreign workers with low and middle income will get the most benefit, as they do not have to pay ridiculous amounts of money when transferring small amounts to homes and making these transfers themselves. The potential of blockchain technology is very great. People all over the world are just beginning to try to understand this. So far we have seen some violations that occur because new innovations use blockchain technology. When it reaches a point at which the masses really understand how strong it is, be ready for the waves of destruction in all relevant industries on a very large scale.

Why is Fuleex important

The World Bank estimates that cross-border payments registered in developing countries will grow from 450 to 616 billion dollars. USA from 2017 to 2018. These statistics point to large markets that revolve around the economy of global migrant workers. This is also an extraordinary opportunity for disruptions in the entire industry, given how high the current global cost of money transfers is.

It is here that Fuleex seeks to enter this low-cost economy by introducing international payment services, offering access for individuals in different geographical locations for cross-border payments using FULX tokens that can be used in more than 30 countries.

Thanks to the currently existing partner network Money Service Center, users can trade and process requests locally and internationally. Based on this, Fuleex will expand its geographical coverage, creating offices and operational centers in such strategic locations as Hong Kong, Taiwan, Australia and others.

STEP ONE

Fuleex Launch

We are in the final stages of having a fully operational and functioning exchange. The Fuleex Initial Exchange Offering ( IEO ) FULX Token will be put up for sale with the objective of being used as a utility token for remittance and payment through Fuleex for little or no fees. Fuleex will also list and support ICOs and Tokens, as well as allow trading in the major Tokens including Bitcoin, Etheruem and Litecoin and so on. More coins and currencies will be added over time after going through a rigorous process to ensure they have a strong and credible user base and liquidity.

STEP TWO

Acquisition

We are also in the final stages of acquiring an established online international money transfer and payment services organization that is already present in 30+ countries,with 200,000 users in the APAC and MENA regions. The acquisition will give us access to a larger footprint in the region and a huge immediate user base.

STEP THREE

Tokenization

With the creation of Fuleex and the FULX Token, we are creating our own online ecosystem. Current blockchain transfer and remittance providers simply overlay their blockchain technology platform onto a network exchange that they do not own or control. This does not increase the capacity or facilitate a true end to end remittance function. Since we are creating our own network exchange, we are in control. Cash-in cash-out transactions will be done exclusively with the FULX Token. It is through this Tokenization,elimination of third parties, and overall streamlining of the remittance process that we are able to reduce these fees.

STEP FOUR

Offering a Comprehensive Solution

With the advent of blockchain technology, there have been new approaches to payment transfers and remittance through Tokenization.Most exchanges in the cash payment and money services space do not have remittance licenses or have not done enough to reduce fees paid by C2C and B2C users. They merely supply a blockchain solution but are not remedying the underlying problem of high costs per transaction, as they have to rely on independent agents and third party intermediaries such as Visa, Mastercard or other bank interfaces within their protocol.

Fuleex can offer a scalable comprehensive solution with no third party intermediary plus have full control over these transactions within the Tokenization process.Fuleex members can purchase, trade and arbitrage the FULX Token through C2C, C2B,B2B, B2C transactions and this in term will create liquidity and velocity in the ecosystem.

TOKENOMICS AND DISTRIBUTION

DISCOUNT WITH VESTED PERIOD OPTION

As a means of incentivising buyers who have plans to be vested on a long-term basis,private investors may qualify for certain discounts if they agree to an imposed trading moratorium for their FULX Tokens. In order to further enhance the value of their investment, FULX Token holders may enroll within the Token financing schemes and qualify for further returns in Fuleex’s programs.

300 million of FULX Tokens Minted ( ERC20 )

180 million FULX Token Hard Cap

USD$0.60 Pre-Sale IEO Offering

DISTRIBUTION OF FULX TOKENS

The total of 300 million FULX Tokens will be distributed to the following segmentation :

Fuleex Exchange Liquidity And Rollout

INITIAL EXCHANGE OFFERING ( IEO )

In order to enhance liquidity on Fuleex, an Initial Exchange Offering ( IEO ) will be launched and our FULX Token will be put up for sale with the objective of the token being used as a transfer and payment method at Fuleex for a low fee. Fuleex will support the major Tokens including Bitcoin, Etheruem and Litecoin for a start. More coins and currencies will be added over time going through a rigorous process to ensure they have strong credibility, user base and liquidity.

PLANNED ROLLOUT

The initial rollout will be phased to include :

• Over-the-Counter Exchange
• Escrow Token Wallet/Cold Wallets
• Token-based Remittance and Cross-border Transfers
• Token-based Financing Platform

– Supply-chain based

– Invoice based

– Token based

• Listing of ICO Tokens

MULTIPLE DEVICE COVERAGE

Fuleex will provide Cross-Platform Trading for members via:

• Mobile HTML5 client ( including WeChat H5 client )
• PC ( Windows ) native client
• Web-based Trading client
• Android native client
• iOS native client
• APIs

MULTILINGUAL SUPPORT TO COVER ALL MARKETS

We will support English and Chinese initially with more languages to be added over time in order to meet the potential demand from other countries.

MANAGEMENT TEAM

Jeff Low

CEO / Founder

Trina Savage

Chief Operations Officer / Co-Founder

Coco Choo

Chief Financial Officer

Mike Yatim

Chief Legal & Compliance Officer

Mark C Porcelli

President Europe & USA

Alan Ng

Business Development APAC & EMEA

Glenn Lim

Chief Marketing Officer

Pan Ling

Business Director & Principal (CAE Expo / Fuleex Academy China)

Jason Lee

Business Director

More information contact :

Website : http://www.fuleex.io/

Whitepaper : https://www.fuleex.io/files/Fuleex_whitepaper_EN.pdf

Bounty Thread : https://bitcointalk.org/index.php?topic=4803890.0

Medium : https://medium.com/@fuleex.io

Twitter : https://twitter.com/Fuleex_

Telegram : https://t.me/FuleexFULX

Author : Upik05

BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2205131

Address wallet

0x6B4D2B44e4FB4648FE87029C4ddf00Da999127c4