KEB Hana Bank, one of the biggest commercial banks in South Korea, reached an agreement with the state-backed highway operator, the Korea Expressway Corporation, to install blockchain-based toll payments systems across the nation’s highways. According to the D Daily report, the project is expected to launch before the end of the year. The blockchain-based payment systems will connect KEB Hana’s smartphone banking app, Hana One Q, for motorists to arrange their toll payments, defer them, or even receive toll fee refunds.
The blockchain solution aims to remove cash-based or credit card payments.
According to the report, KEB Hana Bank and Korea Expressway Corporation in partnership will implement the blockchain solution with the aim to remove cash-based or credit card payments, in part due to the ongoing global pandemic that encourages them to offer contactless solutions. The expressway corporation and the South Korean bank want to use blockchain to share data to strengthen synergies along with the payment system project.
Kwang-Ho Lee, head of the sales division at Korea Expressway Corporation, said that they would continue to expand customized contactless services to the public by applying blockchain technology. He added this is a part of the Korean version of the digital new deal policy to lead the global economy post-pandemic.
Governments across countries acknowledge blockchain tech amid pandemic.
As reported earlier, the South Korean government is encouraging blockchain technology and conducting several proof-of-concept projects to find a way to connect blockchain to the current system. Governments and private sectors across the world are taking a serious look at the various use of blockchain technology amid the ongoing global pandemic. The digital ledger tech is currently being utilized in many sectors across countries, including healthcare and logistics. South Korea had earlier revealed how they plan to use blockchain tech in the healthcare system.
Payiza is Launching DLT-based Digital Banking Platform
[PRESS RELEASE – Please Read Disclaimer]
Imagine an emergency where the funds you need to pay are available ‘only in crypto’. Your loved one’s life is at stake but you’ve got a little fiat to pay and very less time to sell your crypto for fiat and then pay for the service.!
Horrible, Right.!? That’s where Payiza emerged as an ultimate solution.
Payiza, a DLT-based digital banking platform works super cool and simple in both – fiat and crypto. Much similar to any banking applications such as Google Pay in India that works only in fiat for all your daily needs, Payiza offers you the facility of spending virtual currency as well as your national currency by just using one Payiza application.
But What is Payiza App?
Payiza brings you the world’s First DLT (Distributed Ledger Technology)-based global banking platform. It simplifies the process of Mobile top-up, Money Payout, Fiat, and CryptoCurrency. Besides, it also offers additional buying and selling features that facilitate the trade of cryptocurrency, all in one single platform.
It believes that Technology must be integrated with simplicity. Payiza, therefore, is offering digital banking services to worldwide users. It is the first-ever NEO and Crypto Banking connected platform with a global network of 600+ mobile operators spread across 143 countries.
Key Features of Payiza App
- Use Your Crypto Money Via QR And Wallet; Payiza enables Global QR Code-based payments. In near future, you can use your crypto money at any shopping outlet in the world to make payments.
- Universal QR Code For Merchants For One-Stop Payments: Generate an All-In-One QR Code to facilitate mobile payments for your outlet.
- The Safest Cryptocurrency Trading Platform: Payiza offers seamless cryptocurrency trade with more than 500 cryptos to choose from and support for 85 currencies.
- The Fastest Global Banking Platform: Payiza integrates global banking for bank accounts in more than 50 countries. Send your money across the world within seconds.
- Fiat Banking for Crypto Made Easy: Use Payiza for instant money transfer into your account via fiat banking at zero additional costs.
At Payiza, users can avail of three connected features – your bank account, your crypto wallet account, and a unique Payiza virtual wallet account. To pay for any service in crypto, you only need to top up your Payiza virtual wallet account and it automatically converts your crypto into fiat and pays for the service.
In simple terms, you can use your crypto to pay for utility bills through Payiza Application. You can get rid of getting the buyers to sell your crypto with the best price and let Payiza do the rest for you.
What Can You Do Using Payiza App?
It has strongly built itself as the best global banking platform for multi-currency transfers, money exchange, bill payments, storage, trade, buying, and selling of cryptocurrencies. You can Sign Up for Payiza using this link – https://payizadlt.com/login and you can;
- Deposit fiat currency to Payiza wallet
- Deposit cryptocurrency to Payiza wallet
- Convert one fiat currency to another fiat currency
- Convert cryptocurrency to fiat currency
- Get access to Virtual Debit Card
- Convert cryptocurrency inside the Payiza wallet to local fiat currency and withdraw the money from the Payiza wallet to a Local bank account
- Internal transfer (Payiza wallet to a bank account)
- Transfer local currency to payiza virtual bank account
- Withdraw fiat money from Payiza wallet to local bank Account
- Automatic generating of virtual bank accounts for signup users
There’s a statement that says; “without a solid foundation, you’ll have trouble creating anything of value” And Payiza is led by experts and veteran profiles of the crypto & blockchain industry,who are well-versed with blockchain tech, virtual currency, and digital payment industry.
Mr.Mo Akram – Chief Technology Officer [CTO]
Interestingly, Mr. Akram has and is building the best blockchain solutions by leading one of the finest teams of blockchain wizzes. He has also been assisting the fundamental working architectures of crypto exchanges and platforms. Mr.Akram is currently heading Payiza as Chief Technical Officer (CTO).
Bibin Babu – Chief Executive Officer [CEO]
As a 1st Gen Entrepreneur, Mr.Bibin Babu has built Asia’s first Blockchain Experience Centre. He has ranked amongst Top 5 whiz kids in India. Mr.Bibin has vast experience of managing corporate affairs in software development and robotics.
Don Chancellor – Vice President, Africa
Dr. Chancellor is the Founder of AFRICUNIA BANK. As an IBM certified Blockchain Expert he is one of the early adopters and holders of Bitcoin. Though more inclined to the Medical Profession but coming from the backdrop and admixture of the Medical and Banking/Financial family, he is armed with the art of both worlds and thus lays acclaim to many years of practical experiences in related fields. While studying Medicine & Surgery, he single-handedly spearheaded the operations of FASTCASHIER EUROPE LIMITED, now renamed ZeroPay as its Managing Director in charge of the Europe Continent.
Stuart Schade – Blockchain Advisor
Currently, Stuart is the Founder of 4 companies including Apprema Pty LTD, Ntsr Pty ltd, Schaelec Pty ltd, and Masterhash LLC. Stuart works with the executive team to investigate new business opportunities around the company’s business needs.
This platform with all these features is available at just a click of a button. You only need to create an account with your basic details and hassle-free KYC registration.
You can connect with Payiza on Social media @payizamoney
Introducing OneSwap: On-Chain One-Stop Trading Platform
Decentralized Finance (DeFi) took the crypto field by a storm in 2020. The total value locked in various DeFi protocols is just under $10 billion, at the time of this writing.
If this doesn’t sound impressive, consider the fact that this number was just about $570 million in March. In other words, the market grew by an astounding 1607%.
Much of it was led by Uniswap, being the leading automated market maker and decentralized exchange. However, as the market matures, new solutions are coming to light and some of them aim to bring more than what Uniswap’s currently offering.
One protocol of the kind is OneSwap.
What is OneSwap and How is it Different?
OneSwap is a trading service platform based on the permissionless listing of decentralized exchanges (DEX). It also provides the good practices of automated market maker (AMM) projects, while also introducing an on-chain order book on the basis of the CFMM model to further improve the experience for AMM traders.
This particular combination provides users with the convenience of limit trading orders – something that Uniswap lacks and it also enhances the overall liquidity of digital assets.
The platform features an interactive and intuitive trading interface as well as a one-click currency issuance tool in the OneSwap Wallet which comes along with it.
Apart from the built-in wallet, the platform also comes with token repurchase and burn functionalities, on-chain governance, mining incentives, candlestick charts, and a depth map.
The public beta started on September 8th, featuring yield farming and transaction mining, while the official launch was on September 19th.
At the time of this writing, Oneswap boasts a total trading volume of more than $7.4 million since launch, where the total liquidity is around $36million.
Another important thing to discuss is the architecture of the protocol. OneSwap, deployed on each blockchain, comes with a series of capital pools. They are referred to with the transaction pair contract.
Each contract consists of three parts. Namely, these are the on-chain order book, the CPMM model which is the constant product market maker providing liquidity for that contract, and the equity tokens that record the privileges of the liquidity providers.
As soon as the liquidity provider injects digital assets in the capital pool of the given Pair contract, the latter will mint new equity tokens for the liquidity providers. The number of these tokens is based on the current size of the pool, as well as on the total amount of equity tokens that have been issued, as well as the current injections.
On the other hand, when the liquidity provider wants to retrieve their funds, the Pair contract is going to return the funds according to the corresponding proportion of the equity tokens and burn those equity tokens.
The ONES Token
OneSwap also has its ERC20-based governance token issued on Ethereum’s network and it’s called ONES.
It’s a deflationary token and according to the whitepaper, 40% of the transaction fees that are generated on the platform will be used to repurchase and burn ONES. This happens automatically and the burn goes through the BuyBack.
In addition, the on-chain governance of OneSwap happens through proposals and community voting where users who have enough ONES tokens (more than 1% of the total supply) can bring proposals up for discussion and votes. Any user who holds the token can vote against or for the proposal.
ONES now has been listed on CoinEx, Lbank, and MXC.
In general, OneSwap looks like an interesting project to consider in the current DeFi landscape. It does bring a few new exciting features, while also coming with the expected stack of technology that users are already accustomed to.
After Losing 7%, Ripple Struggles To Maintain Previous Support From September (XRP Price Analysis)
- XRP dropped by 4.5% over the past week as it trades at $0.232 today.
- The coin returned to the support at the .618 Fib Retracement, which supported the market in early September.
- Against Bitcoin, XRP is attempting to keep itself above the 2200 SAT level.
XRP/USD – Market Returns To Early September Support
Key Support Levels: $0.228, $0.22, $0.215.
Key Resistance Levels: $0.235, $244, $0.257.
XRP fell beneath a rising trend line on Monday as it collapsed below the 100-days and 200-days EMA to return to the .618 Fib Retracement support at $0.228. This level had prevented the market from slipping further during the early September decline, and a break beneath here is likely to cause XRP to unwind toward $0.2. It’s currently down about 7% in the past two days.
Before breaking beneath the rising trend line, XRP was slowly grinding higher but was unable to overcome resistance at $0.257 (bearish .3282 Fib Retracement). This will now be the level to break if XRP would like to begin any sort of bullish momentum.
XRP-USD Short Term Price Prediction
If the sellers break the $0.228 level (.618 Fib Retracement), the first level of support beneath lies at $0.22. This is followed by support at $0.215 (downside 1.272 Fib Extension), $0.21, $0.206 (downside 1.414 Fib Extension), and $0.2.
On the other side, the first level of resistance lies at $0.235 (200-days EMA). This is followed by resistance at $0.244 (100-days EMA), $0.257 (bearish .382 Fib), and $0.266 (bearish .5 Fib).
XRP/BTC – Buyers Attempting To Defend 2200 SAT
Key Support Levels: 2200 SAT, 2170 SAT, 2111 SAT.
Key Resistance Levels: 2250 SAT, 2300 SAT, 2333 SAT.
The situation is quite troublesome against Bitcoin. In early September, the market found support at the 2275 SAT level. However, last week XRP penetrated beneath this support and fell further below the 2250 SAT.
Over the past couple of days, XRP continued to fall until support was found at the 2200 SAT level yesterday.
XRP-BTC Short Term Price Prediction
If the sellers break beneath 2200 SAT, the first level of support lies at 2170 SAT (downside 1.414 Fib Extension). This is followed by support at 2111 SAT (downside 1.618 Fib Extension), 2070 SAT, and 2000 SAT.
On the other side, the first level of resistance lies at 2250 SAT. Above this resistance lies at 2300 SAT, 2333 SAT, and 2400 SAT.
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