The XNK -EPG project is novel and its an important project we are convinced will revolutionize global trading and payments. In imports and exports transactions between nations and states across the world we have documentation terms like CIF, FOB, BL, DLC, BLC, BG, BPU, BCL, ILC etc. All these though exist primarily in the fiat world would be duplicated on our epg blockchain.
Billions of USD / Euros are transacted daily in businesses involving imports and exports, cargo handling and insurance between nations and individuals. XNK-EPG blockchain is designed to make the process and payment seamless, faster, private and secured for contracting parties on our network. We seek to make it easier for banks, individuals and corporations to issue, track, verify, process, validate and escrow funds for final payments on our network.
The Encocoin family is a component of dual blockchain and can admit additional blockchains into its network for global business payment.
* The first arm of the blockchain is the public blockchain which can consist of at least one or more public open sourced blockchains(e.g XNK-POS, XNK-POW, Stellar, etc). This is the primary market all would go to purchase funds for financial instruments issuance. This transaction will be visible in the public ledger.
* The second arm of the encocoin blockchain is the private, permissioned and secured network. The currency of this network is "epg". This is not open sourced. The coins purchased in the public permissionless blockchains are converted to EPG and used to process transactions on the epg network. All transactions are private and cannot be viewed nor accessed by the public. Only participating entities have access to the transaction. Each individual party to the transaction acts as a node to validate transactions specific to the trade. All nodes must validate for the transaction to be considered completed and payment executed.
Importers, exporters and regulatory entities will have to purchase their XNK then exchange it into epg to process business transactions. EPG will have at least 1 - collaborating bank to handle the interface between crypto and fiats on the network.
The epg network is capable of processing 1 million transactions within minutes.
Interesting...
I have a question or two for you. You said 'the currency for this network is the epg' and I'm trying to understand this. For example, would the epg be a currency in the same way as the current Encocoin POW or the POS with its own totally different chain? Would it also be a masternode project as the POW and the POS? I don't understand this part. Can you please break this down?