Modern Finance Chain Intends to Counteract the Problems Linked With Traditional Merchant-Consumer Transactions
Vic Shybaiev from Modern Finance Chain explained that the issue with major credit cards like Visa, Mastercard, American Express & Eurocard is that the merchant has no control over the transaction, it’s entirely up to the credit card companies to complete the transaction and decide if the merchant will receive funds or not.
What’s more, even though digital currencies have exploded in recent years, with cryptocurrency enthusiasts and investors garnering enormous wealth in the booming crypto market, due to slow merchant adoption, it still remains fairly inconvenient to pay for goods and services with cryptocurrencies. Not to mention, current blockchain projects are isolated and promote innovation only within their own technologies and community.
This is where Modern Finance Chain comes in to play. The company aims to create a sustainable cryptocurrency ecosystem, which counteracts the payment system problems associated with traditional merchant-consumer payment transactions, as well as to drive cryptocurrency adoption and offer other cryptocurrency projects immediate integration into commerce.
MF Chain’s mission is to break down the common barriers of all cryptocurrencies to craft a collaborative digital economy that embraces any type of innovation.
To accomplish this, MF Chain is building the most cost-effective cryptocurrency payment ecosystem that rewards the consumer as well as the merchant. MF Chain’s immediate goal is to become the foundation of commerce powered by the blockchain by bringing users the ability to transact using their favorite coins, based on a zero-fee model along with a novel merchant rewards program.
Modern Finance Chain’s greater vision is the MF Mainnet. An independent public blockchain that employs a BFT/POS consensus model and a unique master node incentivization protocol. Moreover, MF Mainnet will enable the development of enterprise level private blockchains, atomic swap cross-chain transactions, multi-blockchain integration, and a verified digital identity system. Long-term value for Modern Finance Chain will be realized with the Innovation Incubator. Giving upstart projects the resources needed to be successful along with a multi-currency ICO Platform that will permit multiple currencies to be accepted during the live token generation event.
Overall, Modern Finance Chain aims to expand cryptocurrency utility until it becomes ubiquitous. The company is helping cryptocurrency reach beyond being simply an investment, trade or speculative tool. Consumers, merchants, and enterprises both big and small will now be able to capitalize on the convenience and security that cryptocurrency and blockchain offer.
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