Danish digital currency exchange CCEDK has been working diligently to remove any remaining barriers to mainstream adoption of cryptocurrencies. Combining the strength of digital currencies – pioneered by Bitcoin – with the universal acceptance of major credits has lead to the elimination of most of the drawbacks concerning both systems.
Also Read: GoCardless Creates Global Direct Debit Network, but Bitcoin Already Has
Combining Digital Currency and Debit Cards
Consumers can now have it all, as they can enjoy the benefits of one single, seamless integrated solution which combines the peer-to-peer aspect of digital currency with instant international money transfers. Because of this powerful alliance between both worlds, anyone in the world can wire money to someone’s debit card, and it wouldn’t take up more time than completing a card transaction at your local merchant.
In doing so, CCEDK solved ten of the most emerging problems regarding the financial infrastructure available today. Rather than waiting around for multiple days – or sometimes even weeks – for a wire transfer to complete, users can now send money to anyone else in the world in a matter of seconds. And the recipient can spend that money instantly, wherever major credit cards are accepted.
Not to mention, by eliminating the middleman from the equation, there is complete trust between both parties involved in the transaction. Plus, being able to store money in any mix of the most popular digital and national currencies gives users unprecedented flexibility. Especially when you take into account that you change these preferences within mere seconds.
Having the option to spend your money wherever you go, regardless of what country you are in, is the next logical step in the evolution of digital currency adoption. That being said, CCEDK keeps user privacy and security in mind at all times. The end user is always in control of his/her funds, and you are the only one able to authorize who can see your account details. In fact, any CCEDK user can decide to keep his/her ledger private.
A Different Breed of Digital Currency Debit Card
Unlike most Bitcoin debit card offerings, CCEDK links your Nanocard directly to any of the digital and local currency wallets containing funds. Rather than pre-loading your Bitcoin debit card before you spend any money, CCEDK users will have access to their account funds at any time. But such a massive undertaking would not be possible without a partnership with Bit-X.
CCEDK CEO Ronny Boesing told Bitcoinist that:
“CCEDK joined forces with licensed Forex participant Bit-x.com to offer the NanoCard. This is a partnership with no limitations, and as a result we are really proud after only one year in the industry to have the opportunity to offer an impressive project like this, the crypto currency community’s perhaps first true crypto debit card 2.0 provided by NanoCard and banking partners. It will be accepted everywhere – no need to convince merchants to use your favorite cryptocurrency.”
But that is not all, as Cryptonomex.com has joined the team as well. You may have heard the name Cryptonomex before, as they are the developers of BitShares, which is referred to as “cryptocurrency 2.0”. This partnership grants CCEDK integrated access to the BitShares 2.0 platform, allowing for digital currency transactions several thousand times faster than Bitcoin can process right now.
When asked about partnering with Cryptonomex, Ronny Boesing told us:
“Using the BitShares platform also gives CCEDK the ability to share its order books and services with future partner exchanges and digital asset providers to achieve deeper markets, tighter price spreads, and a growing suite of innovative products and services.”
The world of digital currency is evolving at a rapid pace, and exchanges will need to come up with new and creative ways to adapt to the technology “arms race”. Now that CCEDK can place their elders on the BitShares network, the company positions itself to be one of the most trusted and reliable exchanges available today. Whether or not more exchanges will follow this route of complete transparency, remains to be seen though.
What are your thoughts on CCEDK’s NanoCard, and how do you see the landscape evolve? Let us know in the comments below!
Images courtesy of Ronny Boesing, Cryptonomoex, Shutterstock, and BitShares