How to manage all your assets from one place: a revolutionary blockchain app to transform the economy

March 7, 2019

Blockchain and cryptocurrencies are two technologies that have the potential to change the world by creating a whole new generation of finance. Among other companies, one is taking a unique approach to global problems and promises to deliver an app that can transform the economy.

This company is called Exscudo and it is engaged in the development of a next-generation ecosystem of financial products. One of its products is called Channels. Channels is not just a multicurrency wallet – it’s a unique environment that not only allows users to make purchases, exchange money, send and receive transfers of different currencies and pay for subscriptions but also communicate with friends and business partners in secure chats protected by cryptography. What’s more, Channels functionality can be extended through community-driven services connected using an API. You can add a taxi service functionality with a rating system or share culinary advice with your subscribers on a paid membership basis or beer brewing advice with friends and receive cryptocurrency contributions. One of the distinct advantages of Channels is a different approach to financial interactions between users– Channels is not a bank. It’s much better. Your assets are always available, and they are truly yours. No one else will be able to access them no matter what.

Channels app is available for download for iOS and Android right now. It is constantly updated and improved, at the current iteration multicurrency wallet and secure messenger functions are fully implemented.

How does it work?

The Channels app will allow users to hold and manage an incredibly diverse portfolio of assets that can range from company shares and fiat currencies to various digital assets. No matter the nature of the capital, users will be able to transact, exchange and share their assets both within and outside of the ecosystem, as well as receive incoming transactions in different currencies.

All transactions are processed in the blockchain, and because every available asset that Channels supports has to be digitized, an unprecedented level of security can be reached, this is especially true thanks to an employed technology called “EON colored coins.” Colored coins are digital representations of real assets that are linked mathematically to the original. This means that for EUR colored coin to be issued a real EUR must enter the Channels with an incoming outside transaction. If that EUR is then sent out to a third party bank, the colored coin gets automatically burned. This design ensures that duplicate assets cannot exist in the system and a mathematical algorithm makes sure that the balance of colored coins always follows actual assets that the coins are backed by. What’s more, this approach makes transactions cheaper and faster, and a colored coin can represent anything, a monetary asset, property or another cryptocurrency or even shares.

How will it change the economy?

In practice, users will be able to tokenize any number of assets. By sending colored coins to another party, the rights for the asset that those particular colored coins represent is also transferred, which means that complex matters like transferring property rights can be resolved within seconds.

Colored coins in Channels will behave exactly like any cryptocurrency and combined with the ability to send tokens in chat in the form of simple messages, not unlike Apple Pay, Channels will create an entirely new kind of financial and personal freedom. In other words, one will be able to transfer, for instance, ownership of a company in a second without the need to involve third parties like depositories of securities, notaries or brokers, because their function is performed by the EON blockchain.

Furthermore, because records in the blockchain can’t be altered, changed or affected by any corporate, official or private party in any manner, for the first time in human history people will gain true ownership of their assets. If a certain John has a house, no one will be able to come and tell John “Due to the planned construction of a highway your house has to be taken down.” Noenoe will be able to mess with anyone’s savings because unlike banks, and capital will exist within a self-governing and self-sustainable blockchain network.

And the most critical thing that channels will bring to the economy is the simplification. Extremely complex blockchain technology that completely removes trust issues and renders intermediaries useless has finally received a straightforward and easy-to-understand package that can be effortlessly utilized in our everyday life.


To fully implement the feature described above some technical advances are yet to be done to various blocks of the Exscudo ecosystem, and the project is heading towards that as this article is being written.

And yet, the biggest problem that lies ahead of the team is education and mass acknowledgment. People will require a substantial amount of time to truly understand the new type of financial assets that Channels will bring them, learn how to trust them and understand how to use them.


Started as a more simplistic multicurrency wallet, the Channels app and its underlying technology proved to be a truly world-changing project. Several obstacles must be overcome, but Exscudo is devoted to utilizing technology to redefine what personal privacy and private ownership really are!

By Andrew Zimine, the Exscudo CEO

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