A monetary system is the set of institutions by which money is maintained in
an economy. At a minimum, this system must provide means for maintaining
accounts, performing transactions, resolving disputes, as well as making and
servicing loans. While money provides the means for implementing such a
system.
The primary reason cryptocurrencies remain a mere curiosity is because they failed to provide a functional monetary system. For example, cryptocurrencies are able to provide accounts and to perform transactions, however they are not suitable for making loans or offer a means for resolving disputes. As a result, current cryptocurrencies are unusable for business purposes.
The Axios Foundation will provide an Axio based monetary system comprising an Axio bank, a currency exchange, and a legal system. These institutions will provide the minimum required to maintain an economy. The Foundation will also provide payment methods that will support free real-time transactions, enabling the Axio to compete against the established currencies.
Axio will be issued as a debt, and as this debt is paid a corresponding amount of axios will be extinguished thus increasing the value of the Axio by the amount of the interest paid on the debt. Unlike other debt-based monetary systems, this process of money creation will be recorded in a blockchain so that the system could be audited, and control of the system will operate in a similar way to a credit union, which is controlled by its members as stakeholders and operated on the principle of people helping people.
With so much going for it, the Axio is positioned to become a dominant player in the race to create the next generation of cryptocurrency. As such, it has enormous potential.
The primary reason cryptocurrencies remain a mere curiosity is because they failed to provide a functional monetary system. For example, cryptocurrencies are able to provide accounts and to perform transactions, however they are not suitable for making loans or offer a means for resolving disputes. As a result, current cryptocurrencies are unusable for business purposes.
The Axios Foundation will provide an Axio based monetary system comprising an Axio bank, a currency exchange, and a legal system. These institutions will provide the minimum required to maintain an economy. The Foundation will also provide payment methods that will support free real-time transactions, enabling the Axio to compete against the established currencies.
Axio will be issued as a debt, and as this debt is paid a corresponding amount of axios will be extinguished thus increasing the value of the Axio by the amount of the interest paid on the debt. Unlike other debt-based monetary systems, this process of money creation will be recorded in a blockchain so that the system could be audited, and control of the system will operate in a similar way to a credit union, which is controlled by its members as stakeholders and operated on the principle of people helping people.
With so much going for it, the Axio is positioned to become a dominant player in the race to create the next generation of cryptocurrency. As such, it has enormous potential.
For more information about the Axio Monetary System, please visit the Axios Foundation website. For an overview please refer to the Pitch Deck, with further information disclosed in the Blog, Whitepaper, Business Plan, Executive Summary and the Axio Token Terms of Sale.
