SINGAPORE--(BUSINESS WIRE)--FUSION (http://FUSION.org/), the Foundation providing an inclusive cryptofinance platform to solve the barriers hindering the widespread use of blockchain technology, announces today that it has successfully raised approximately 50K Ether, currently worth close to $50 million, in the first day of its ICO. Whereas, many crypto-projects focus substantially on enhancing current financial institutions, FUSION looks towards the future. The strong support for the project shows the need for a solution to the problems within the various blockchain ecosystems of today. By creating an inclusive system that can connect a variety of tokens in a more efficient manner, FUSION can achieve complete financial functionalities that have not yet been explored using blockchain technology.
The blockchain, because of its ability to connect people and markets, ushers us into a new financial age, introducing digitization, intelligence, decentralization, and inclusiveness to the world of the Internet of Values (IoV). The IoV is still in its very early stages, and because of that suffers from three main obstacles: interoperability, usability, and scalability. Whereas current blockchain projects have tried to overcome these barriers before, no good solution has emerged yet in the industry, until now. FUSION addresses the compatibility of cryptofinance, as the FUSION blockchain will support both tokens that already exist, and those that will be issued in the future. By solving pitfalls like this, FUSION makes smart contracts, smarter, as smart contracts on Fusion can interact with each user no matter the variety of tokens used to form them.
The FUSION public blockchain advances the functionality of traditional finance and offers a suite of features using the FSN token. Unlike other multicoin wallets which are limited to trading between tokens based on the same technology, a crypto wallet based on FUSION will be able to store all different values of tokens. The platform also offers a multi currency risk-free loan system: using smart contracts, by which users can apply for a loan in one form of token, and pay it back with another.
“We are entering an exciting new era of ‘Internet of Values’ which promises increased connectivity and inclusiveness,” said Dejun Qian, Founder of FUSION, “However, the benefits of the Internet of Values are currently thwarted by interoperability, scalability and usability issues within the various blockchain ecosystems, all of which combined have hindered this technological progress. FUSION aims to remove these barriers, ushering in an age of a true digital economy.”
Founded in 2017, FUSION provides a comprehensive solution for integrating cryptocurrencies that exist today and ones that will be issued in the future by connecting centralized and decentralized organizations, balancing authentication and anonymity, and integrating both on-chain and off-chain data. FUSION utilizes distributed bookkeeping nodes to control various types of tokens’ private keys, and establishes a control and management layer on top of different types of blockchains.