Benedicta Mwengee

Axios Foundation

The Axio is a revolutionary asset-backed cryptocurrency designed to address many deficiencies found in existing cryptocurrencies, such as a lack of identifiable intrinsic value, extreme volatility, and unsuitability for business operations. The Axio is not simply a cryptocurrency, but a component of a patent pending asset-backed cryptocurrency monetary system. It will compete against the fiat money by providing a stable intrinsic value, interest payments, privacy, transparency, secure ownership, free real-time transactions, international borderless transferability and convertibility, a variety of payment methods, and a legal framework. The Foundation will issue Axio denominated loans and collect interest on them. Thus, the Axio will be backed by the intrinsic value of borrowers' efforts to pay off their loans. That is, the Axio will be directly backed by the intrinsic value of work that represents the real value rather than a by-product of work such as gold. And unlike commodity-backed cryptocurrencies that have a fractional reserve value, the Axio will be fully backed by the full faith and credit of the borrowers. The Axio will be usable just like any other currency via a payment app or a credit card. It can be thought of as a currency of a virtual country that will be issued under the US law. The Foundation will support business transactions by providing a legal framework supported by dispute resolution, and will provide arbitration for a fee. The ability to redress grievances will make the Axio similar to a government-issued legal tender, which is something that no other cryptocurrency can offer. And the system will be operated like a credit union for the benefit of its members. Given its many advantages, the Axio is positioned to become a dominant player in the race to create the next generation of money. As such, it has enormous potential.