Despite reaching a moment in time, where the human society is heavily influenced by technology, the worldwide financial system has still not switched to a cashless economy. Some of the reasons include a high percentage of people remaining unbanked, debt financing, poor performance of financial instruments in certain regions and more.
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Blocnation represents a company that is actively trying to make cashless societies a reality, by providing consumers with a cashless payment solution, specifically tuned to serve emerging markets. The Blocnation solution is based on three core technologies, these being the Komodo platform, blockchain and partnerships with companies like PouchNATION (market leader for cashless payments at events and venues in Southeast Asia). Komodo will allow for an independent and highly-scalable blockchain network, perfect for Blocnation’s mission, while also providing an additional layer of security, and offering decentralized payment solutions. Last but not least, everything will be fixed into place by the benefits of blockchain technology, which include speed, low costs, immutability, and overall efficiency of the network.
The Blocnation mobile app will represent the key to the services, and hence allow consumers to access all of the company’s products and services, including, but not limited to: an exchange service for trading coins, wallet, payment gateway, BNTN token-based transactions and more.
The launch plan has been carefully thought out. Blocnation will first appear on the market under the form of an exchange, allowing digital currency users and traders to store and trade coins for 0% transaction fees, and fast confirmation times, thanks to the platform’s atomic and etomic swap technologies. Following the release of the exchange, Blocnation will allow BNTN tokens to be used for ticket purchases at events in Asia, alongside with on-venue cashless solutions. Lastly, merchant adoption will begin shortly after, as Blocnation will partner up with merchants, hence giving users the ability to pay easily and cheaply pay via BTNT tokens.
At this time, the development team is busy planning out the world’s first decentralized ICO (dICO), to be held on the Komodo platform. The benefits of the dICO include full purchaser anonymity, alongside instant and cheap transactions for purchaser.