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Knox World Pay – The Only Blockchain Solution for Mass Adoption

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Only Blockchain Solution for Mass Adoption

For a country to develop, economic growth is paramount. However, the rate of economic growth worldwide is very imbalanced. Developed countries like China have recorded above 5% GDP growth rate in 2020. Contrary to that, South Sudan, an underdeveloped country, records -10% GDP annually. This economic imbalance has brought down several markets worldwide, hence delaying the development of countries globally.

 

Furthermore, currency fluctuations, inflation, and poverty greatly influence slow market growth. Fortunately, the introduction of blockchain systems resolves the issues facing the modern-day market. However, most countries trading cryptocurrencies are first world countries, and blockchain platforms are very unpopular in several nations.

 

Knox World Pay is the first blockchain platform to avail financial services to all types of economies, advanced and underdeveloped. The system is an invention from Apollo currency, the fastest cryptocurrency in the blockchain market.

Moreover, Knox World Pay is a mobile-based platform, targeting the 5 billion people worldwide who own mobile phones. The platform is the first and only blockchain-based system that ignites the possibility for mass adoption of blockchain.

 

How Knox World Pay is Developing Economies

Creating Employment Opportunities

Unemployment is one of the issues preventing development in markets worldwide. Countries in the Sub Saharan region have deeply poverty-stricken areas. Lack of jobs translates to little or no income, which in a nutshell, leads to poverty. 

Knox World Pay has a worldwide agent network that was founded to assist traders in cryptocurrency exchange. The agency acts like Banking institutions but in a more advanced capacity as agents interact directly with people—agents aid merchants in signing up for cryptocurrency accounts and using those accounts in day to day transactions.

 No requirements are needed to sign up to be an agent, so anybody worldwide can be a Knox World Pay agent. Therefore the platform is a source of employment for people in developed countries and locals in marginalized countries.

 By creating job opportunities, Knox World Pay massively contributes to economic growth.

Encouraging Entrepreneurship

Industries and businesses thrive where capital is abundant. But for an economy to develop, there is a need for an abundance of industries with several entrepreneurs. To create a stable business, the foundation of an excellent financial system is necessary. Where good banking options are inaccessible, business is on the road to failure.

Knox World Pay platform is the perfect alternative where banking systems have failed. Since the platform is mobile-based, Knox World Pay enables merchants worldwide to send and receive payments via text messages and QR codes. Therefore entrepreneurs can easily make international sales in remote areas with no internet access.

Knox World Pay helps people open up businesses in regions with no banking services, offering them financial services similar to those in first world countries. This achievement is after the development of economies both at local and international levels.

Initiating Use of Cryptocurrencies in Developing Countries

In some third world countries, inflation and corruption have weakened the value of local currencies. The financial imbalance is a norm in such countries; the gap between the rich and the poor widening every day. This imbalance has made markets in developing countries fail to sustain themselves.

Unfortunately, where local currencies have little value, international trade is difficult, if not impossible. Business enterprises have a hard time expanding their business to the global market, eliminating the possibility of an economic uprising.

Cryptocurrency can replace fiat currencies in such situations. The platform’s global agent network and offline transactions facilitate fast and secure international crypto-transactions. A business owner in Venezuela can sell goods to a consumer in Asia and get paid using BTC while completely bypassing the effects of inflation.

Service to Areas With Little Banking Reliability

Financial service availability to an economy is imperative to its development. The reliability and stability of banking systems in a country will determine the rate at which the economy thrives. Generally, financial systems in developed countries are far better than those in third world countries.

The overreliance on banking services and financial institutions has led to stagnant economic growth. Demand for these services keeps growing, and the systems can’t effectively serve everyone. Residents of rural areas in developing countries have to cater to costs such as bus fares to reach their banks. First world countries have districts with few banks encouraging long queues, making it tiresome for people to make transactions.

When most of the country’s population has access to fantastic financial services, the economy eventually develops. Economic growth is inevitable because everyone locally and globally, is financially represented. The platform is fast, user-friendly, and has minimal costs. People can say goodbye to extra expenses such as bus fares, bank account charges, and long tiring queues in banks. 

Conclusion

Economic development is key to a nation’s success. For economic growth to occur, capital availability and good nationwide financial services are necessities. Knox World Pay gives users the best cryptocurrency exchange experience, thereby expanding local businesses and providing premium financial services to even secluded parts of the world.

Knox World Pay is the only blockchain platform that has the potential to give financial services worldwide. International economic growth is undisputedly imminent as people can comfortably trade anywhere, anyplace, and anytime thanks to Knox.      

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TrueUSD Names Five Banks Holding the Stablecoin’s USD Reserve

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1. TUSD is currently in collaboration with five banks.
2. Partner banks provide a safeguard for TUSD’s asset security.
3. TUSD is now audited by auditing firm Armanino.

Stablecoin TrueUSD (TUSD) named five of its current bank collaborators that ensure asset security for its USD reserves.

According to TUSD, it currently works with Signature Bank, Silvergate Bank, Prime Trust, First Digital Trust, and BitGo for the safekeeping of USD assets that back the value of the stablecoin.

For one, Signature Bank is the first bank insured by the Federal Deposit Insurance Corporation (FDIC) to launch a blockchain-based digital payments platform—Signet.

TUSD partnered with Signature Bank, a New York-based commercial firm, and was then integrated into Signet, Signature’s payment network, opening 24/7 minting services within two minutes. TUSD admitted that this development “greatly” improved its financial services for its users. Interestingly, TUSD transactions within Signet are free.

Another TUSD partner bank from 2021 is Silvergate. This financial firm became one of the first banks to set up accounts for crypto transactions and has since become known as one of the few crypto-friendly banks.

TUSD leverages the Silvergate Exchange Network (SEN), providing users with another “efficient” token minting service.

Together with SEN, TUSD reinforces its near-instant minting and redemption services with Prime Trust’s PrimeX. PrimeX enables TUSD holders to mint and redeem tokens round the clock, offering instant settlements.

Users of the stablecoin can also mint and redeem their tokens with TUSD partner First Digital Trust. Although the bank implements minimum and maximum transactions, TUSD saw this as an opportunity to provide its users with options, especially if they plan on minting or redeeming small amounts of TUSD.

TUSD is also one of the early stablecoins that crypto custodian BitGo included in its offerings. BitGo’s secure multi-signature wallets allow TUSD users to purchase the stablecoin within the wallet. 

With BitGo, users can purchase and exchange TUSD with no fee. However, a minimum amount of $1,000 worth of TUSD is required to mint and redeem.

TUSD revealed that it is exploring more ways to better its services for its users. To do so, it plans to forge relationships with more bank partners.Earlier, TUSD was reported to now be audited by Armanino, a top European auditing firm. Armanino will attest to the stability of TUSD’s smart contracts on-chain. TUSD, in turn, becomes the only stablecoin that has implemented such security standards.

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Winning Projects are In as TRON Grand Hackathon 2022 Season 1 Comes to a Close

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The winning projects are finally in as TRON Grand Hackathon 2022 closed on March 14, coming off of a thriving victory. We’ve been tracking the winning projects closely on the TRON DAO Forum on all four tracks, Web3, NFT, GameFi, and DeFi. 

The Forum has been an influential site for developers to come together, share ideas, create threads, and interact with each other about the crypto community, and activity on the Forum accounted for 40% of the overall score. 

Each track’s final review panel consisted of crypto experts, KOLs, and a public community review board, whose scores accounted for 30%, 30%, and 40%, respectively. Community reviewers transparently voted on the TRON DAO Forum.

The crypto community was earnest to see the results of the judging period, which began on March 8 and ended on March 11.

Here are the winning picks in each of the four tracks:

In the GameFi Track, the winner is TronNinja Arcade by the TronNinja Team.

TronNinja is a NFT GameFi project on the TRON blockchain where you will be able to use your NFTs as characters in-game while earning our in-game token TronNinjas Token (TNT) in the TronNinjas Arcade. Their goal is not only to play games but bring back the social aspect that arcades had.

In the Web3 track, the winner is dCloud by Cctechmx.

Their mission is to create an Open Source Web3 Cloud storage mobile app enabling its own ecosystem to enjoy a self-sustainable and shared economy. By separating dCloud code like this, we’ll be able to reduce the developing effort. BitTorrent team delivers the binaries, dCloud team devs focus on implementing them to the specific OS environment and coding a single Graphical Interface for both major mobile platforms: Android and iOS.

“Wow, what a piece of application! There is nothing like supporting decentralization hand in hand with cryptocurrencies. Better yet, still supporting it in TRON and BTTC blockchain technology. I will be waiting to be able to use it in our daily lives!” Said a commentator.

For the NFT track, the winner is VersacBrickSquad by TuruGlobal.

Their goal is to make real estate investment available for all since most people don’t have sufficient funds to buy their own real estate. The Versac Brick Squad is a collection of DAOs investing in real estate assets jointly managing the assets in a platform structure provided by TuruGlobal and with that making Real Estate investment accessible for the people.

“This is something we really need in this space. Community power should not be underestimated. The DAOs are the perfect tool to make the most out of all the smart people out there. Thanks for the explanation,” another commentator said.

As for the DeFi track, the winner is JustMoney Exchange by JustMoney.

They aim to build an ecosystem for the next generation of decentralized applications to power Web3 by allowing crypto users to trade and offer cryptocurrencies on several chains and facilitate the creation of a payment system that will allow crypto users to purchase goods and services online using cryptocurrency.

“New features that truly come in handy for newcomers. You don’t have to risk any money due to failed transactions on JustMoney Exchange. It’s the little things that matter, and the team ensures it does its best to cover any issues,” a commentator said.

The decentralized community is pleased with the project winners and can’t wait to see what’s to come for Season 2. Registration begins May 16, 2022.

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Winning Project Disclosed as TRON Grand Hackathon 2022 Season 1 Ends

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After a huge hit, the TRON Grand Hackathon 2022 disclosed the winning entries on the TRON DAO Forum in all four tracks, Web3, NFT, GameFi, and DeFi. 

The Forum has been a sufficient spot for developers to come together, share ideas, create threads, and interact with each other about the crypto community, and activity on the Forum accounted for 40% of the overall score. 

Each track’s final review panel consisted of crypto experts, KOLs, and a public community review board, whose scores accounted for 30%, 30%, and 40%, respectively. Community reviewers transparently voted on the TRON DAO Forum.

The crypto community was optimistic to see the impacts of the judging period, which began on March 8 and closed on March 11.

In each of the four tracks, here are the winning entries:

As for the DeFi track, the winner is JustMoney Exchange by JustMoney.

They aim to build an ecosystem for the next generation of decentralized applications to power Web3 by allowing crypto users to trade and offer cryptocurrencies on several chains and facilitate the creation of a payment system that will allow crypto users to purchase goods and services online using cryptocurrency.

“New features that truly come in handy for newcomers. You don’t have to risk any money due to failed transactions on JustMoney Exchange. It’s the little things that matter, and the team ensures it does its best to cover any issues,” a commentator said.

For the NFT track, the winner is VersacBrickSquad by TuruGlobal.

Their goal is to make real estate investment available for all since most people don’t have sufficient funds to buy their own real estate. The Versac Brick Squad is a collection of DAOs investing in real estate assets jointly managing the assets in a platform structure provided by TuruGlobal and with that making Real Estate investment accessible for the people.

“This is something we really need in this space. Community power should not be underestimated. The DAOs are the perfect tool to make the most out of all the smart people out there. Thanks for the explanation,” another commentator said.

In the Web3 track, the winner is dCloud by Cctechmx.

Their mission is to create an Open Source Web3 Cloud storage mobile app enabling its own ecosystem to enjoy a self-sustainable and shared economy. By separating dCloud code like this, we’ll be able to reduce the developing effort. BitTorrent team delivers the binaries, dCloud team devs focus on implementing them to the specific OS environment and coding a single Graphical Interface for both major mobile platforms: Android and iOS.

“Wow, what a piece of application! There is nothing like supporting decentralization hand in hand with cryptocurrencies. Better yet, still supporting it in TRON and BTTC blockchain technology. I will be waiting to be able to use it in our daily lives!” Said a commentator.

In the GameFi Track, the winner is TronNinja Arcade by the TronNinja Team.

TronNinja is a NFT GameFi project on the TRON blockchain where you will be able to use your NFTs as characters in-game while earning our in-game token TronNinjas Token (TNT) in the TronNinjas Arcade. Their goal not only is to play games but bring back the social aspect that arcades had.

“Congrats to the team for their dedication in building what adds great value to the experience of their users. So excited for the great success achieved so far and looking forward to achieving more success in the future,” a commentator said.

The TRON ecosystem continues to look forward to more projects in Season 2. Registration begins May 16, 2022.

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