Faxport is based on the blockchain sports commerce service platform. It was set up as a project group at the end of 2016, for development and operations. In 2018 the company Faxport Holdings Limited was globally registered in the Seychelles, with all operations conducted as a holding company. Directly connecting with global sports commerce participants, service providers and consumers via the decentralised block- chain network, it promotes positive interactions within the global sports commerce market. It is improving and raising the level digitisation present within the sports commerce market, as well as providing a greater degree of structure as well as in- formationalisation. It looks to establish an innovative sports commercial service eco- system founded on trust, encouragement, convenience whilst also being free of commission.
Faxport utilises the blockchain’s advantages of being decentralised, having secure encryption, being unalterable, and free from need of central trust organisations, fo- cusing on its usage in its core business of sports commerce databases, commercial networking, and talent recruitment. It is a complete ecosystem targeted at solving the challenges and problems faced by the developing global sports market. It aims to raise user retention through the adoption of positive encouragement and dispute resolution mechanisms, and also attempt to grow into more usage arenas and re- gions.
The purpose of this white paper is to describe Faxport’s usage environment, the op- eration of each subsystem and delineate the utility of the Faxport Token throughout the entire ecosystem. It aims to establish a more transparent and reliable sports economy based on blockchain’s three main advantages of security, transparency and efficiency, and then undertake low cost, short time difference, and cross national boundary capital trading and transfers, and from which fundamentally resolve the phenomena of fraud inherent in value exchanges and transfers.
In addition, as Faxport’s active user numbers grow, there will be a corresponding large impact on its network and radiation, leading to a fairer and more transparent global sports service market.