NXT is launching a new partnership with 44 Phones Ltd to provide a community version of its Hybrid Mobile money platform. Where bitcoin power is more oriented around the currency and value, NXT is going at this as a technology to solve problems on many various user case such as the Drachmae Project
Bitcoin and other blockchain currencies have generated a lot of interest of late but there are still huge barriers to using it for many small businesses, consumers and organisations. NXT aims to change that by providing a hosted web service that will allow individual users and small businesses to try things like Digital Currency, Mobile Money, Loyalty & Rewards and Voting for themselves.
The Combination of NXT Foundation, 44Phones and Coinstructors are leading on the Blockchain solution for Greece “Drachmae” which has sparked huge media coverage and high end corporates to ask questions since the it’s launch in early April. The combined efforts are now leading NXT 2.0 blockchain Technology to some very important and sort after projects in the Fintech space, that are being pen tested and verified behind closed doors, providing services for the Un-Banked of Lower economies which help mitigate against fraud and corruption, Loyalty & Reward programmes and possibly most interesting is Digital Identity. The interest in these projects is providing valuable insight in whether or not Blockchain technology has a role to play and most of all if it can provide the necessary robustness to be accepted by “Banks and Regulatory authorities. These “Real World” use cases enable the various authorities to understand how this technology can be used within existing regulatory frameworks or if new guidelines are needed.
With the combined effort and expertise from various sectors, NXT as a Technology is moving further towards real world solutions than the more well known Bitcoin. By delivering end user services that use the technology to underpin trust and transparency, rather than building the hype of a brand that has seen high levels of investment and huge swings in value, NXT appears to be a better technical solution for Greece and one that at least avoids the Boom Bust risk of Bitcoin.
NXT2PAY will also provide a simple way to engage with developers of all levels. We want to provide a known interface that encourages our users to develop ‘Real World’ applications that can harness blockchain technology as we believe that this is the only way to foster innovation and bring on new users in this space.
We are particularly excited about the prospect of working with a platform that is already being used in Namibia, as a Cash Mobile Money platform, bringing financial services to the Unbanked in Rural areas. We believe in financial inclusion for everyone, but most of all to ensure the trust and transparency of those financial services and the opportunity to develop new uses such as Voting, whereby every user has a vote and that vote is counted.
In fact we already have an example of the voting in action. NXT2PAY at Payexpo 2015, where NXT was the Crypto sponsor, provided a simple use case for the Best Speaker Vote, showing how users could vote over the NXT blockchain using a simple SMS http://vote.nxt2pay.me/en/
In addition to providing transparency to financial services and voting the NXT2PAY platform provides the opportunity to enable distributors, vendors and agents to sell and market products and instantly receive commission. With the immutable record of the transaction it ensures fraud and corruption can be eliminated whilst providing a valuable service to Micro Finance Institutes, NGO’s, Charities and Small Businesses for services such as Air Time sales, Health Information, Charity Donations, and much more. We believe that NXT2PAY can provide the catalyst to develop new users of blockchain services and finally deliver on the promise that Bitcoin like services can change the world for the better.
On the 20th of June the London Hackcoin hosted at UBS Bank Crypto lab at Level 39 Canary wharf. The crew will be using NXT Blockchain 2.0 API to experiment with and will be working on the following subjects of choice:
- Make use of digital identity e.g. only adults should be able to purchase or rent age 18 rated movies, see Open Mustard Seed for more ideas. https://idcubed.org/open-platform/platform/
- Smart Bonds and Contracts for Trading of Bond assets between banks or Sports Contracts
- Blockchain Voting Example one existing use case from http://www.payexpo.com/ can be found here http://vote.nxt2pay.me/en/ https://wiki.nxtcrypto.org/wiki/Voting_System
- Blockchain based loyalty and rewards enabling the exchange and cross networking of existing reward system over the blockchain example User case Drachmae https://youtu.be/QVXL3XzubDQ
Has NXT been the Sleeping Dragon among crypto currencies or has it just been focusing on building solutions that can really solve problems? With the accumulation of nearly 70 projects on the table for verifiable test cases, with the potential to be taken mainstream upon success, could make NXT the most valuable Blockchain technology on the market rather than just a currency. Drachmae is now at the forefront of these projects as it has the potential to offer real tangible benefits to Greece and the Greek Economy, not least putting it at the heart of this burgeoning Fintech space and making it a World Leader in Crypto Technologies.