Lately, a lot of startups that offers various services as a solution to the problems that exist today. The industry is also diverse ranging from health, media, public, transportation, to finance. And one industry that pretty much became the target of the startup is the financial industry.
The financial industry is one industry that can be said to always have a market all the time. This is because human nature where they need primary, secondary, and tertiary needs. But unlike ancient times, where you may be able to get everything through what is available in nature or by exchanging items of value. Currently, everything can be earned using money (okay, I am not here with the statement “not everything can be bought with money”).
Call it a payment system that can be used around the world, maybe we often hear Paypal, Payoneer, Skrill, or Western Union. Innovation is certainly very good especially for the purposes of transactions between countries that not infrequently always have problems in the settlement or exchange rates that exist today. But do you know some countries actually still consider the payment service as something illegal?
Unfortunately, some of the current financial startups tend to underestimate the legal aspect. While the legal aspect is one thing that must be met by a business. You will not think if one day your business suddenly stopped by the government because it has no legal aspects. Especially in the financial industry, there are potential abuses that arise either in the form of fraud, corruption, or money laundering. 3 of these things actually fall into the category of criminals at international level, where the International Police is the authorities.
Let’s try to reflect on other industries, in this telecommunication industry has never happened with what is done by Whatsapp and Blackberry Messenger (BBM). For the case of Whatsapp, they are prohibited from being used in Saudi Arabia because Saudi Arabia’s laws prohibit all things encrypted in relation to their royal system of government (not democratic republic). The same thing happened to Blackberry Messenger which is blocked in Southeast Asia country like Indonesia. The reason is similar because BBM has an encrypted security system and refuses cooperation with the government, so it is feared this will be an opportunity for corruption and money laundering.
This is the side that Midex is trying to learn, a financial startup that provides a variety of financial needs for its customers. Midex is not a technology company but Midex itself has a standing license as a Bank. Their vision is to bridge between the technology that has been done in the world of cryptocurrency with the classical economic system that we have long known.
Surely this will make it easier for us to transact using crypto directly in the real world. Currently one of the main problems of cryptocurrency is that it cannot be used to buy goods or make payments directly in the real world. All we have to do so far is to withdraw in the existing exchangers and change our nominal cryptocurrency as fiat currency. then with that fiat currency, we can just make the payment.
Surely this is a brilliant step as the beginning in connecting the world of cryptocurrency with the real world that exists today. Midex not only provides financial products in the form of payment systems, but also other products such as savings, credit loans, investment, trading, ATM, and other financial products like a bank.
Currently, Midex is doing Initial Coin Offerings which you can see on the link below:
Official Site: https://ico.midex.com/en
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=2714588
My Bitcointalk Username: fadhci81
My Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1862181