Are you a fan of the world of sports and technology? This interests you, since a 100% Mexican utility token called Xoycoin based on the Ethereum blockchain technology was recently launched.
Recall that the Ethereum blockchain was created in 2013 by Vitalik Buterin, a young programmer with Russian and Canadian roots. Since then, its cryptocurrency, ether, has gained such strength that today it ranks as the second largest digital currency in the world.
We suggest you read: Ethereum, Dogecoin and these other cryptocurrencies drive the market
To understand the context we need to be clear that, since its emergence, technology blockchain It has created a wide range of business models applicable to almost all industries. In fact, the use of tokens is one of the factors that have contributed to the success of the blockchain.
A token it is an asset, a utility or a unit of value that a company issues. The tokens they represent programmable assets or access rights that are managed through a smart contract.
When a company creates a token useful, it means that you are creating a kind of “digital coupon” that can be exchanged in the future for some product or service within a given ecosystem, not outside it.
In this way, Xoycoin will allow its users to access various services of the YOX, Upick and Xoy Capital network of companies, among others, to carry out exchanges and transactions in a safe and reliable way.
“Through a digital wallet or wallet, connected to the Ethereum network, the launch of Xoycoin implies a new panorama in cryptocurrencies in Mexico. It is a virtual product created to be used in an ecosystem of blockchain specific, that is, it acts as a payment option to buy and sell within selected platforms. It is not a financial investment, but an innovative method to obtain value from different platforms, ”said Carlos Lazo, CEO and founder of Xoycoin and YOX, a sports trading company.
Did you miss it ?: He’s 27, co-created Ethereum, and now he’s a billionaire
In addition to the backing of ether, the creator of this utility token highlights the support it has in its network of companies with years of experience in the sports field.
“The first stage is that sportsbooks have our Xoycoin payment gateway nationally, then internationally. There are so many sportsbooks out there, we’re talking about a trillion dollar market; New York and New Jersey alone generate more than $ 170 million a year. We are working for greater freedom, so that more and more users can have their money and move it to any part of the world through safe and transparent processes “, added Carlos Lazo and stressed that his platform will work in the next seven months to comply with the regulatory parameters established by the National Banking and Securities Commission (CNBV) to advance towards that goal.
Follow us on Google News to keep you always informed