While more and more people are getting into cryptocurrencies, they are still far from being considered mainstream. The reason is simple – not that many stores and bars will let you pay for the bottle of water with your bitcoin or ether.
There are a few projects trying to merge the fiat and crypto worlds, but we’re still not there. One new project may have what it takes to accomplish this. And that’s because it is not only a software product…
The smart debit/credit card
This, we think, is the way to merge the world of crypto with everyday payments. A smart card that can pull your crypto holdings, convert them into fiat (regular money) on the fly so you could buy that bottle of water at any place that accepts (say) Visa cards.
The name of the company behind this bold project is FuzeX, and its “smart eCard” enables users to store up to 15 cryptocurrency accounts, 10 debit or credit cards, and five reward accounts — all in one place. So even without cryptocurrencies, this is a useful product!
Plus, this tiny thing — it is the size of a regular credit card after all — also has a few buttons on it that let users switch between multiple accounts, and see those accounts (with current balances) on a small e-ink display. Sounds like a dream, right?
But wait, there’s more – the eCard will have a battery life between 45 and 60 days, as well as an NFC (Near Field Communication) chip to enable contactless payments. Already lovin’ it.
Risking to sound like an infomercial, I have to add “and there’s more…”
The mobile app
This is where it gets even more interesting. Thanks to the eCard’s built-in Bluetooth connectivity, users can manage their card from their smartphone. The companion app — which will be available for the iPhone and Android smartphones — provides such features as remote wipe if the card is stolen, and the ability to see where you’ve been spending money on a map.
Plus, if you need to convert some crypto into fiat currency, you can also do that from the comfort of your phone. Sweet.
FuzeX did this before
They are not new to smart eCards, with their previous product also allowing users to store multiple cards. In fact, FuzeX says it has already “successfully developed, brought to market, sold and shipped more than 20,000 Fuze cards.”
That original eCard was available through a crowdfunding campaign that managed to soar to the top 0.01 percent of projects on Indiegogo after raising $2.2 mln.
And guess what, this new card adds cryptocurrencies to the mix!
FuzeX will have its own token
Which, in case you wonder, is already listed on a few cryptocurrency exchanges — including HitBTC, COSS, Livecoin and Cobinhood, among others.
The ICO for the token, marked as FXT, has ended and those who bought it then can use their holding to pay for “small annual memberships” necessitated by the issuers, and a few other FuzeX charges.
As we have said it before, we love this project and think this is the right way to make cryptocurrencies more popular among the general public. What do you think about FuzeX’s smart eCard? Is this something you would consider getting? Comments form is all yours…