Review on CHEX by francis fernandez
B2B commerce powered by blockchain
Business operations work more efficiently when done directly or without intermediaries. To drive this premise, blockchain technology has developed B2B-type trading platforms. Such is the case with Chex.
Chex is a non-profit foundation that promotes a non-custodial trade network between companies that exchange materials and products in the Cannabis jurisdiction. This platform is originally from Singapore.
Chex's primary mission is to drive mass adoption of distributed ledger technology.
CHEX uses its cryptocurrency of the same name to power its platform activities. This digital asset has just 500 million as a maximum supply established and there are currently no coins in circulation.
What characteristics does this protocol have?
Coin cannot be mined
Operates under the infrastructure of the Ethereum chain
Currently only has functions as token
It works under a non-decentralized government system
The most important aspect that this ecosystem presents is that it promotes commercial operations between equals to grant the same advantages to both parties involved in the transaction.
And as for the most unfavorable aspect that we can mention of this protocol; It is represented by its centralized governance that could generate little confidence in its followers.
In addition to the low supply of its currency and the inability to generate itself by mining.
Pros
- Promotes the trade of goods directly between companies
- Create a secure trading network with the use of blockchain technology
- It has the backing of the Ethereum chain where it operates
- Offers a secure hardware-type cold wallet
Cons
- Unmineable currency
- Non-decentralized structure
