The blockchain and its cryptocurrency is seen as the rival of the traditional banking system, Afterall the blockchain was born to make the current banking system better by eliminating the flaws and limitation which is posed by the traditional banking system.
Some of the impediments which was found in the traditional banking system was its lack of privacy and a nameless form of transaction. The traditional banking system has always been one which sat upon user data and tracked down every transaction which is carried out on their system. The blockchain which was suppose to make the financial system better has also failed in providing a private, secure and an anonymous form of transaction for its users.
- Unbanked: in this modern age, one will think everyone in the planet has access to a banking system, but that is no true as there are countries who are still behind in this technological age. This sort of places does not have a banking system or have very few which isn’t made available to all the population, which simply means all forms of financial transactions are done with fiat.
- Cryptocurrency complexity: one of the advantages which the traditional banking system has over the blockchain industry is its ease to use, and this complexities with using the blockchain and cryptocurrencies is the reason it still struggles with mainstream adoption.
- Unfriendly user interface: other than the general complexities in using cryptocurrencies, the user interface of existing crypto payment solution is not user friendly because of their use of private keys, long crypto addresses and many more difficulties.
BRAVO is creating a next generation mainstream anonymous payment gateway for our day to day usage. BRAVO was originally built for payment of gratuities to artists and service providers with the use of government backed currency such as euro, dollars and others. But with the emergence of the blockchain, BRAVO hopes to leverage the technology to create an easy to use autonomous payment gateway for global usage.
BRAVO will be making use of a dual blockchain technology working together created by the network. The blockchain will contain a public and private blockchain which will be working together. The public blockchain will be based on a federated byzantine consensus algorithm while the private blockchain (incognito blockchain) will be making use of an anonymizing proof-of-stake algorithm.
This will allow users to be able to choose to either make any of their transaction private with no history or identity on the transaction or to make it public where identity is seen and it can be traced. The platform will have a generally accepted token known as BVO Token which can be used to send, receive and save funds and will be made available on public exchanges, but the incognito blockchain will have its won token known as BVO-P and will only be used in facilitating private transaction, and also this token will not be made available on exchanges and will only be used for funds transfer and not a form of asset.
One of the major goals of BRAVO is facilitate the payment for goods and services easy for users and vendors while offering an unmatched level of security and privacy. The Bravo app will have a user-friendly interface and will enable anyone without a bank to simply use the app to make financial transactions of any type to anywhere in the world with either the use of the BVO Token or fiat.
BRAVO has opened up an initial coin offering opportunity for interested persons to become part of the network simply by purchasing their utility tokens, and with the advantages in which this platform is bringing to life, I think it is an opportunity worth investing on.
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