AMP token is not sexy. Not yet, anyway.
AMP token doesn't have a massive marketing campaign to raise brand awareness.
AMP token doesn't have a celebrity billionaire hyping it to a legion of halfwit fanboys who desperately want to feel and appear intelligent by association.
AMP token doesn't have a charismatic cult leader to make excessively optimistic promises or attend industry summits and conduct interviews with a flurry of buzzwords, narcissism and insults for the analysts who express doubts about the project.
AMP token doesn't have a bot army blitz posting positive sounding nonsense across multiple social media platforms to pump up the FOMO and insult the doubters.
So... then, what does AMP token have?
Oh, just a real world use case and numerous corporate partnerships that will place it at the point of sale both online and in old fashioned brick and mortar locations in more than 160 counties around the world.
But, shhhh... It's a secret!
AMP token has been quietly making news, sometimes without being mentioned even in passing. There have been several crypto related news stories recently in which the AMP token plays an integral part, but, still it continues to fly under the radar.
AMP token is a sleeping giant that isn't really sleeping, it's quietly going to work and trying not to disturb the neighbors as it does so. However, much of the crypto market and influencer community are sleeping on it. Perhaps it's more appropriate to liken AMP token to the magic beans which grow the towering beanstalk up to where the giant lives.
But, I am not here to sell you on hype. I'm not going to try to convince you this is a launchpad or sell you tickets for a rocket ride to the moon. I'm simply sharing information with those who seek it and are willing to accept it.
So, what is the AMP token anyway?
AMP token is the native token of the Flexa Network payment processing system. AMP tokens collateralize the exchange of multiple different crypto currencies to allow merchants to accept crypto payments without having to hold crypto themselves. [1,2,3]
There have been several news items recently about multiple companies in the process of rolling out the digital infrastructure to accept payment in cryptocurrency.
If you check the comments under some of these stories from traditional media outlets posted on YouTube, you can find dozens of comments expressing doubt (FUD!!!) about the possibility of paying for anything with crypto directly at the point of sale, as the commenters expect the cashiers to be required to perform complex math to calculate the amount of Bitcoin necessary to purchase a pack of gum or a gallon of gasoline or a movie ticket. The common commenter's lack of understanding is both a mild amusement and a wild opportunity.
No such calculations are necessary on the part of the employees or the management of any of the numerous retailers and service providers making these announcements.
Why not? Because the transactions will be processed through the Flexa Network payment system; the cashier doesn't have to know anything about cryptocurrencies and the company doesn't require a crypto wallet or any holdings in tokens.
As previously stated, the AMP token is used to collateralize the transaction. This renders the price volatility of Bitcoin or any other preferred cryptocurrencies to be a non-factor in the purchase, at least as far as the consumer and the retailer are concerned. The cryptocurrency of choice is converted twice in order to facilitate the transaction; first into AMP and then into fiat money. The business receives instant payment in fiat money. For this service the business will pay a 1% transaction fee, which is a significant savings over the 3% charged for traditional debit and credit transactions.
How does that eliminate the possibility of price fluctuations in mid-transaction? By over collateralization of the purchase price. More value in AMP tokens is set aside in order to ensure that the transaction is completed. Then, the difference between the purchase price and the value of the preferred cryptocurrency is returned in the original token to the wallet of the customer.
Flexa Network and AMP token makes crypto payments fast, painless, and fraud-proof for both the businesses and their customers. [3,4]
Sounds good, but who would actually use this service? Oh, only Sheetz. [5,9]
Who cares about Sheetz? Oh, only their millions of customers at their 629 locations in 373 cities across 6 states. No big deal, right? [6]
Is Sheetz not enough? No worries, Flexa Network has several other partners you may not be aware of, such as Bancoagricola, Citcon, NCR, Rooam, and Shopify, to name a few. There are more that have been announced and even more that will be announced soon, but this should be enough to make the case for the AMP token. [7,8,9,10,11,12,13]
Shopify alone should be a "HOLY [EXPLICATIVE DELETED]!!" moment for us, but there is more to follow.
As previously stated, the AMP token has been making news without being mentioned even in passing. One well known example is the recent announcement that the nation of El Salvador has recognized the utility of Bitcoin and declared it to be an official currency.
So, what does that have to do with AMP tokens? Well, you may not recognize the name, but, Bancoagricola is the largest bank in El Salvador. When Bancoagricola handles all those Bitcoin transactions, they are going to be processing them through the Flexa Network using AMP tokens. [7]
Another well known example is the recent announcement from AMC that their theaters will soon be accepting payment in cryptocurrency for tickets and concessions. This has been held up as great news for Dogecoin. However, though AMC has yet to announce how these crypto payments are going to be handled, it's likely that this will also be facilitated through the Flexa Network. The announcement of this possible partnership may be coming soon.
So, perhaps we should be expecting AMP token to soar rather than DOGE? DOGE was created as a joke. AMP was created to have utility in the real world. But, shhhh... it's a secret! AMP is flying under the radar as Flexa rolls out more and more partnerships with payment gateways, retailers and service providers in more and more locations.
To make it even more interesting and likely to succeed, Flexa Network is a registered corporation in Delaware with headquarters in New York. Flexa Network is a registered money transmitter in 10 states with more in the application process. This signals that they are regulatorily compliant and prepared to do business on a national, if not global, scale. [14,15]
This is not a complete rundown of every detail of the Flexa Network, the AMP token and their numerous corporate partnerships, only a brief analysis of the recent news regarding their development. I didn't even mention that they claim to be not only "carbon neutral" but "carbon negative" and expect to achieve "net zero emissions" by 2025. Or did I? Maybe that matters to you, it's an unimportant factor for me, personally. [16]
I hope you found this analysis enlightening and discovered some value in the Flexa Network and AMP token that you hadn't previously noticed.
This is just the beginning for Flexa Network and AMP tokens. The rise has yet to begin.
- Marvin Scott Marvin, September 28, 2021.
[Disclaimer: If it's not already obvious, THIS IS NOT FINANCIAL ADVICE. This is news analysis. What you do with this information, if anything, is your own decision. Do your own research.]
[Disclosure: I do have holdings in AMP tokens. I don't expect it to instantly rise on this obscure blog or any of the news items referenced herein. I am currently at a small loss on this investment (because it's "bloody September!"). However, I do expect it to be profitable for myself in the long run, perhaps very much so in 3 to 5 years. This is not a get rich quick scheme. This is a part of my personal long term investment strategy, and not to be considered a recommendation or endorsement. I am not your financial advisor, nor do I want to be. I am not a crypto market expert. I am not a social media influencer. I'm a writer and I write about the things that interest me. Do your own research.]
[2] https://amptoken.org/
[4] https://finance.yahoo.com/news/flexa-adds-support-fraud-proof-140400458.html
[5] https://finance.yahoo.com/news/sheetz-becomes-first-convenience-store-143800702.html
[6] https://www.scrapehero.com/location-reports/Sheetz-USA/
[7] https://finance.yahoo.com/news/bancoagr-cola-partners-flexa-enable-162000208.html
[8] https://www.businesswire.com/news/home/20210518005292/en/Citcon-Partners-With-Flexa-to-Bring-Digital-Currency-Payments-to-Merchants-Worldwide
[9] https://www.forbes.com/sites/michaeldelcastillo/2021/06/30/6-billion-ncr-opens-bitcoin-purchases-to-650-banks-and-credit-unions/
[10] https://www.ncr.com/company/blogs/retail/ncr-teams-up-with-gemini-and-flexa-to-demo-innovations-in-cryptocurrency-accessibility
[11] https://rooam.co/
[12] https://markets.businessinsider.com/news/stocks/flexa-introduces-pay-with-flexa-button-for-instant-online-acceptance-of-bitcoin-and-other-digital-currencies-1030468554?op=1
[13] https://developer.flexa.network/connect/
[14] https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/approved_entities_number
[15] https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1840599
[16] https://medium.com/flexa/flexa-is-now-carbon-neutral-eba8e07f5c7
