If you're watching this channel, then chances are you love crypto.
But what if you actually want to spend those hard-earned gains day to day?
To give up the petrodollar for good.
Say you wanted to treat grandma to a snazzy new walking cane
with nice little tennis balls at the bottom.
Well, in the unlikely event that the local cane store accepted crypto payments,
would you really risk grandma having to stand around for hours
as you waited for the transaction to be confirmed?
But what if there was a technology out there
that allow you to spend your favorite cryptos at any available payment terminal?
And better yet, what if those payments were faster and more secure?
Sounds too good to be true?
Well, that pipe dream may soon be a reality
thanks to the Amp,
an ERC-20 token that many expect to send shockwaves through the global payments industry.
Let's get it!
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In this video, we look at Amp and how it may soon bring crypto payments
to your local farmers' market so you can buy fresh bread
from that French lady your wife told you not to buy any more bread from.
In order to understand Amp,
we first need to take a look at Flexa,
the so-called solution to blockchain payments.
Not only does Flexa promise to be the global leader in pure-digital payments,
offering the fastest, most fraud-proof payments network in the world,
it also enables instant crypto payments in stores and online.
All without volatility exposure.
The icing on the cake however is that Flexa makes this possible
with no need for merchants to spend cash on any shiny new hardware.
Now, this is absolutely huge
because with any disruptive technology,
one of the major obstacles in the way to mass adoption is compatibility with the existing infrastructure.
It's a bit like making energy production less centralized.
We all know that it's inevitable.
But so long we've gotten these gargantuan grids built around legacy fossil fuels,
we remain totally dependent on them to meet our growing energy needs.
It's almost the exact same thing with crypto.
The massive challenge of delivering fast and secure crypto payments at scale is a challenge
because there's a huge existing global infrastructure of legacy payment systems,
a convoluted network of account providers, card issuers, merchants and acquiring banks
which remain largely incompatible with this new asset class of digital assets.
Flexa was founded in 2018 with a view not just to bridging the divide
but fixing the problems of retail payments
once and for all.
It was created by a team of super brainiacs headed by CEO Tyler Spalding,
who is quite literally a rocket scientist.
Their mission was simple.
To create a future where merchants can accept crypto natively
without any intermediary third parties
and effect to 100% fraud-proof, hyperfast payment system
that eliminates the wasteful transaction fees faced by consumers and merchants alike.
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So how does Flexa work?
Well, the answer is seamlessly.
And that's because it doesn't depend on any particular type of hardware at the point of sale.
Instead, it can slot right into the existing setup.
As the name would suggest,
Flexa's "flexable" integration options are compatible with a full array of merchant hardware and software
connecting directly to the existing payments infrastructure
through a wide variety of processors, middleware providers and cloud POS.
The end result?
Merchants can accept crypto payments directly through the Flexa network
and receive instant settlement in their preferred fiat of their choosing.
You simply connect, accept and get paid.
But Flexa is by no means limited purely to crypto.
Once connected, you can accept USD, CAD, pounds or pesos with instant settlement.
The hype is all it's cracked up to be.
Flexa could just be the definitive one-stop shop solution to all digital payments,
ushering in a new paradigm for fast, fraud-proof value transfer.
As they put it themselves,
Flexa's MO is to improve cash, credit and debit payments in every way possible.
Sounds like a big deal,
but for the average retail consumer,
what distinguishes Flexa from your favorite crypto debit card?
Well, with Flexa,
the middlemen are consigned to the history books.
Meaning you don't need to preload fiat from your bank account to get up and running.
Instead, users can download a Flexa-enabled app
such as their very own SPEDN or the Gemini app,
which can then be used as wallets in the truest sense.
Namely by allowing you to store your digital assets
and spend them with ease at any merchant onboarded to the Flexa system.
As of last count, that included over 41,000 unique retail locations over the US and Canada
including GameStop, Office Depot, Nordstrom, Petco, Baskin Robbins,
and a host of other big hitters.
But I'll cut to the chase.
When it comes to actually paying for your precious ice cream in crypto,
your Flexa-enabled app simply produces a unique flexcode
which participating retailers can scan to instantly authorize and guarantee your transaction.
That's a big flex.
As for online payments, they've got that covered, too.
Not only is Flexa hoping to be the definitive pure digital payments provider for brick-and-mortar retail,
they're also making significant inroads in the online retail space
thanks to the recent launch of their easy-to-use "Pay with Flexa" button,
which is now available for use in e-commerce.
Now, nothing at the flea market will stand in the way of me spending my Dogecoin
to buy that chaise lounge my wife says will look great in the bonus room.
Okay, well, we talked about the benefit,
so let's dive into some of the features.
And you must be buzzing to hear about the crazy tech that makes all this possible.
The answer is Flexa's flagship innovation,
the ERC-20 token formerly known as Flexacoin,
now known as Amp,
the native token ingenuously co-developed by Flexa and industry titans ConsenSys
to give the network its mighty gigawatt power.
There's no other way to say it.
Amp is truly unique in all of crypto.
It's the first and only token to serve as a crowdsourced collateral.
Think of it as a digital placeholder
that allows customers to purchase goods or services in a wide array of digital assets
without having to wait for the transaction to be confirmed on the blockchain.
With AMP, the merchant is effectively paid up front
with a guarantee that if, for whatever reason, consensus isn't achieved,
the collateralized Amp will be liquidated to cover any losses.
As for its diverse application, Amp is also what's called asset-agnostic.
This basically means that the kindly Amp token doesn't discriminate
between cash, crypto, you name it.
And that's because it boasts a feature set universally compatible with any form of value transfer.
Meaning it's able to facilitate instant irreversible transactions for any kind of asset.
So where does this collateral Amp come from?
Well, when users stake their Amp on the Flexa-enabled app,
they contribute to a collateral pool,
earning rewards with a small percentage of every processed transaction.
By virtue of staking Amp,
any form of value exchange can be guaranteed.
So this goes way beyond crypto,
all the way to digital payments,
fiat currency exchange,
loan distributions,
property sales--
well, the list goes on and on.
The sheer extent of Amp's potential application is nothing short of electrifying.
If you think this all sounds mighty impressive with virtually unlimited use case potential,
then you won't be surprised to see that Amp has seen some major players on board.
I mentioned ConsenSys were early partners,
as were crypto's tallest twins, Tyler and Cameron Winklevoss.
And Amp has since been listed on major exchanges like Coinbase, Bittrex, Poloniex,
as well as DeFi players including UNI, SUSHI,
as well as Crypto Rules Everything Around Me aka C.R.E.A.M.,
which allows users to front Amp as collateral for loans of up to 45% on the value supplied.
Oh, would you look at that?
They've even partnered with Chainlink.
Now, I'm sure most of you are like me and here purely for the tech,
but for those of you interested in Amp's price action,
let's take a look at the basic tokenomics.
Amp has a maximum supply of 100 billion, with around 32 billion in circulation today.
And while the ETA for the total supply to be released is around 2045,
this is by no means written in stone,
and it could be reached much earlier depending on the demand for more "Ampage".
As for price predictions, Amp went on a pretty insane rally in June,
reaching an all-time high of over 12¢.
All the more impressive considering Bitcoin was tanking in that time.
Yes, given its totally unique role in the digital payment and DeFi space,
it's not impossible to imagine that Amp could eventually swim against the tide
and effectively decouple from Bitcoin and Ethereum entirely.
Either way, this combination of incredible fundamentals and world-class team,
almost unlimited real-world application,
all big guarantee Amp's price action will see sparks fly in the near future.
And as the network begins to really "flexa" its muscles,
then you and I'd be surprised to see some absolutely face-melting pumps.
This really could be the token you'd be crazy to sleep on.
But that's all I got.
Be blessed.
BitBoy out.