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Flash is a less known cryptocurrency than Scrypt, which has a growing presence in Venezuela and Africa. It is not designed to be a work trial system, even if it uses mining to verify transactions and protect the network, but instead focuses on transactions that can be solved within seconds. Their mobile wallet has recently integrated a "human ATM" peer-to-peer trading capability that could be a success in jurisdictions where it is difficult to trust fiat money. Places like Venezuela, for example.
As a cryptocurrency project, it could face traction problems due to its technical design: the mining competitions of Litecoin and Bitcoin are part of the show. In Flash, a small number of miners protects the network and processes transactions at a very low profit. Nonetheless, Flash has a mobile application that can contain multiple crpytocurrencies: Bitcoin, Litecoin, Dash and Ethereum (in addition to Flash). In particular, Flash is also available in Coinomi, a popular mobile wallet that supports many encrypted.
Flash focuses primarily on the adoption of commercial and peer-to-peer users in regions where other methods are not available or unreliable. Venezuela has become a characteristic example of an encryption case, but there are other regions where digital currencies can serve to allow traders to accept more than just money with reduced overall costs and much lower costs than those that could occur in credit card processing. Flash marketing director James Hinton states that as many as 800 merchants in Africa will adopt Flash in the coming months, which means intrinsically that they will also accept Bitcoin, Dash, Litecoin and Ethereum.
Creating a Wallet Flash mobile account gives you access to the web version of the wallet, which has over 20 ERC-20 tokens in addition to regular cryptos.
A fully functioning multi-currency wallet is likely to get some installations in the app stores, but now they have added something that could spur interest across borders: a peer-to-peer exchange feature calls "Human ATM".
Peer-to-Peer in-chain market
Human ATM functionality is as unique as mobile wallets. Allows the user to upload a map of people offering in-person exchanges. Transactions can be settled in person and then the funds can be released on the app. As LocalBitcoins, there is a system of evaluation and revision and, of course, the author must emphasize that it is always better to meet in a public place and to follow the best basic practices.
For Venezuela, what will ultimately do this is to allow anyone to become a Bitcoin street ATM, even if they do personal transactions primarily in Flash due to exchange rate differences. Flash is supported by Einstein Exchange in Canada, which allows users to link their bank accounts and associated payment methods (such as debit and credit cards) for external transfers. Some minor exchanges also support Flash cryptocurrency.
Flash itself has over 600,000 active addresses worldwide. In the two weeks that this story has been worked on, they have had dozens of installations in Africa and Venezuela. A partnership with Crowdforce based in the Seychelles is promising:
"CrowdForce integrates the flashcoin to bring micropagaments to Africa".
READ MORE HERE: https://t.co/j6iaNshxKf– CrowdForce (@mycrowdforce) December 20, 2018
The CrowdForce PayForce network includes 8,000 sellers, who now accept the cryptocurrency via Flash. This includes Flashcoin.
For this reporter, Flash's cryptocurrency is much less important than what its mobile wallet has the potential to do. People like peer-to-peer, there are no two ways to do it, and eBay's success as a global market or the almost immediate success of Facebook's market features (preceded by "do-it-yourself" swap stores) they are proof that when people can deal directly with other people, they often choose to do so.
The portfolio is available in the Play Store and in the Apple App Store.
Coinbase for the Unbanked
For the unbanked of the world, the appearance of human ATM is incredibly important, especially when traders in disadvantaged regions adopt it. In the same way that Coinbase and its minor competitors make it easy for people with the full support of the traditional financial system behind them access to the crypto economy, the Flash portfolio can allow the unbanked of the world to do the same, potentially with much lower commissions.
A typical interaction will probably go this way: an operator in the field enters with his own wages in cash and, having no trust in banks or other institutions, if he ever exists, he orders the trader to buy a certain amount of crypto for save it. They can then spend that crypt there and other traders, but above all, they can spend it online. Or they may simply have a way to enter the crypto economy, from which they can get their money in stables and then eventually into the western banking system if they so wish.
Human ATM transactions do not take place in any off-line portfolio. If you sell an encryption for another on the application, you pay the network fees in what you are selling, and the buyer pays the network fees in what he or she is using to pay you. This means that it is not necessary for a staff to ensure that transactions are executed correctly, since all transactions are carried out with the security and transparency of the blockchain.
Negative aspects of trading in person
So, what are the disadvantages? Like any peer-to-peer interaction, there is the ultimate risk of being scammed. As an attempt to help with this, online transactions are also possible with the app. Flashcoin is not required to conduct operations.
Nevertheless, simple peer-to-peer trading methods that support multiple currencies are so far rare and incredibly necessary for the world individual adoption of cryptos and the Flash team is experimenting with the cause.
The installation and use of the Flash app for mobile devices provides the user with a parallel account on their Web portfolio, which includes 66 main ERC-20 tokens as well as what is offered in the Internet. mobile app.
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