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NPP: The First CBDC Platform Consolidating Banking, Payment, and Merchant Services

Team Bitcoin Daily

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The financial system plays a significant role in the economy. Merchants form one of the greatest clients of financial institutions, and for years, merchants have been following bank policies religiously. Furthermore, the banking sector has been dormant, with banks operating conventionally with no notable innovation. Although most of them adopted mobile transactions, they were still heavily dependent on traditional systems. Besides, the transactions still have their share of setbacks, especially on fees and unsupported international transfers, making them inefficient. 

However, financial technology gurus are waking up to the realization that the financial industry and, more so, banking systems are due for a change. Apollo Fintech, a blockchain company based in North America and Africa, seems to be the new hope for the industry. The company utilizes modern technology, blockchain to revolutionize the banking service experience, including central banks, merchants, and people. Apollo Fintech has successfully integrated banking, payment, and merchant services in a single platform, dubbed the National Payment Platform (NPP), through blockchain technology capabilities.  

NPP Banking Service

Merchants have been content with traditional banking procedures and policies as they had no decent alternatives. According to most of them, the challenges associated with traditional banking were a cost they had to pay in their business. The system was generally characterized by slow transaction processing, high cost, limited usability, and inaccessibility. Apollo Fintech is changing the game in banking services and adding some value by giving central banks the ability to introduce a new currency, a digital currency. 

Several central banks have, in the past, attempted to launch a digital currency, CBDC, although none of them has been successful. However, the National Payment Platform is providing the necessary infrastructure. The platform will allow any central bank to issue a digital currency and onboard commercial banks, agents, merchants, and the people. That way, banking services will be accessible to all populations provided they own a phone. The digital currency will be held in an online wallet, and users only need to sign up online. 

Under traditional banking, over 1.7 billion adults had no access to banking services by 2017. The situation could be blamed on banks’ conditions on opening accounts and the accessibility of commercial banks due to their characteristic of concentration in urban centers. The NPP makes all banking services available on mobile phones, including phones utilizing outdated technology. Deposits and withdrawals will be instant through the online wallets, and they can also link the wallet with bank cards as an additional option for funds top-up or withdrawal. People will have banking services with them wherever they go as long as they have their phones, and all through the day and night. Further, authorized agents will be spread across countries to make the digital currencies and banking services available for the people.

NPP Payment Service

Among the significant challenges with payment services in conventional banking include payment processing speeds, especially for payments made abroad, and transaction fees. The National Payment Platform will solve these problems with the platform’s online wallet, the platform-compatible Apollo Knox Pay, and the CBDC. Users will be able to make peer-to-peer payments using digital assets in their wallets, at reduced costs. The payments will be frictionless, and users can even make payments abroad in minutes.

The platform offers different ways of sending payments, including SMS, its app, offline codes, and QR codes. It will allow economic players to save significantly on waiting times and resources, 

NPP Merchant Services

Aside from banking services, merchants utilize other platforms to advertise their goods to catch the eye of potential customers. Some make use of free social media, while others pay for slits in advertising platforms. However, Apollo Fintech’s new payment platform is providing merchants with this functionality. 

Merchants using the platform can publish a catalog of their goods and services directly on the payment platform. Interested users can buy the goods and make payments to the merchant directly through the platform. It also features a point of sale system that will allow users to sell their products and services directly and receive payments, although locally. 

Summing Up

Apollo Fintech has been among the top companies utilizing blockchain technology to revolutionize various sectors. While this article focuses more on the integration and added capabilities and functionalities in banking, payment, and merchant services, platform users will benefit from blockchain characteristics. 

Part of the benefits they will all enjoy is the quantum-resistant data encryption mechanism on an immutable ledger. The immutable and distributed ledger ensures that no more action can be taken once a transaction is complete and recorded. It will be the ultimate platform that solves cybersecurity threats all at once.

Blockchain technology will provide unprecedented safety in the financial sector and foster privacy in an individual transaction. For now, people only have to wait for the first central bank digital currency based on Apollo Fintech’s National Payment Platform and enjoy a seamless experience.

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Web3 Investors from 16 nations converged to witness these 6 Graviton-backed Indian startups make their pitch.

Team Bitcoin Daily

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Graviton Web3 Accelerator’s digitally simulcast Demo Day event saw participation from VCs and angels around the world, focused on a cumulative raise of $10Mn for their first cohort. 

Graviton, a web3-focused accelerator for emerging markets backed by global VCs such as Hashkey Capital, Moonrock Capital, NGC Ventures, 369 Capital, Ascensive Assets, Stacker Ventures, MH Ventures, G1 Ventures, Infinity Ventures Crypto (IVC), and GravityX Capital, recently organized its first-ever digitally simulcast Demo Day.

The event saw participation from over 70 global investors from 16 countries, with all eyes converging on what the six teams at Graviton are busy building and scaling. These teams have emerged as outliers from a pool of 300+ startups that had applied to get accelerated through the Graviton ecosystem.

Graviton’s uniquely designed accelerator program arms a limited cohort of promising early-stage web3 founders with a healthy infusion of institutional capital (marked by a seed investment into each team), technical grants and integrations from a vast partner ecosystem, mentorship from proven industry experts to help the teams with business strategy, tech fundamentals, growth marketing, and fundraising, as well as expanded networking opportunities to help them raise serious capital in the long run. 

“While the ongoing ‘bear market’ sentiment fosters a conservative investment mindset around the world for crypto platforms, we at Graviton believe that world-class technology products led by visionary founders are always ahead of the curve, and always lucrative to serious investors”, remarked Arpit Nik (Founder & CEO at Graviton and a General Partner at GravityX Capital). Arpit and team have been hard at work since December last year, to identify India’s strongest founders with a penchant to build for the decentralized web. 

The six teams that emerged frontrunners amidst a plethora of applicants, include:

Spydra – An enterprise grade blockchain solution that is helping large organizations migrate their existing tech stack from web2 to web3, making the transition as frictionless as possible. Led by the seasoned and suave Manish Tewari (with massive previous exits at Koovs.com and Pokkt), Spydra is powering the largest status-quo migration in enterprise tech, since the advent of AWS and cloud-computing. They’re already clocking an annual run rate of $100K in revenue, servicing clients such as Raymond, Myntra, and the National Payments Corporation of India. 

Wall – This team is solving one of the most significant challenges of web3, i.e. community building. Wall helps businesses acquire and take community members through beautifully mapped custom user journeys, helping them claim rewards (such as Airdrop tokens), while completing platform-mandated tasks across multiple touch points (such as Twitter, Telegram, Discord, etc). It offsets the community moderation costs for emerging web3 platforms, and after helping 40+ projects design custom reward pathways, Wall is fast emerging as the go-to community building solution for L1 and L2 ecosystems.  Wall is helmed by Anuj Kumar Kodam (ex IIT Kharagpur, IIM Calcutta, and formerly part of the founder’s office at Ola Cabs). 

Strive – Global opinion on the utility of NFTs is divided, and Strive is here to change that. With a proprietary layer that facilitates the sharing and trading of NFT utilities, the team is expanding the possibilities of what one can do with NFTs today. Using Strive, any business, brand, or artist-led community can monetize their audience and influence with ease. Kartik Mehrotra (ex UC Berkeley) leads the show at Strive Network. 

Zoth – Crypto users of today are struggling to find secure and passive income generating opportunities, despite the total value of crypto finance having breached $1Trillion as of 2022. Pritam Dutta (ex Ab-InBev, Mahindra & Mahindra) and team Zoth are on a mission to democratize global access to affordable capital, through the tokenization of real world assets. They’ve already deployed $500K in capital, and have a little under $10M in their managed assets pipeline. 

Fetcch – The motto and creed at Fetcch is to make web3 payments as simple as Venmo or Paypal. Mandar Ray, CEO at Fetcch, explains that they’re building an abstracted middleware layer that removes the complexities associated with wallet addresses, which in turn is a giant leap towards the mainstream adoption of web3. Recently, the team has opened up beta access to Fetcch Pay, their flagship payments product. 

GG Nation – eSports is booming, and team GG Nation has done a stellar job of capturing the mindshare of student gamers across 250+ Indian colleges in 18 cities. Today, GGNation has more than 200,000 gamers on its roster, with an aim to onboard India’s first million gamers. Abhinandan, the founder and CEO, has a remarkable track record with two of India’s biggest sports IPs, Indian Racing League and Premier Futsal, achieving impressive media value, viewership, and live attendance.

Over the last 16 weeks, these teams have been immersed in interactive workshops with a team of 50+ remarkable mentors – all of whom are established thought leaders in their respective domains. And in exchange for their time and imparted wisdom, Graviton has created a circular rewards model, with each mentor acquiring nominal equity in these teams, proportionate to the time they spend nurturing each product. Arjun Kalsy (ex-Growth lead at Polygon), for instance, has a vested interest in the success of each of these six teams, as one of their growth mentors. The same is true for Parth Chaturvedi of Coinswitch Ventures, Vijay Pravin of bitsCrunch, and many others who have become an integral part of the growth journeys of all 6 teams.

The success of Graviton’s Demo Day is owed largely to the efforts of Program Director Jeffrey Broer, who is a seasoned web3 investor at Mulana Capital, and a highly sought-after blockchain mentor and speaker. 

“Supporting visionary entrepreneurs on their transformative journeys in the web3 realm brings me immense joy. I extend my heartfelt gratitude to the nurturing Graviton ecosystem for promoting an inclusive culture of progress. May the six teams embark on a remarkable path of growth and achievement!”

– Vijay Pravin (CEO, bitsCrunch & Growth Mentor at Graviton)

“All hands aboard is the philosophy that drives us to help startups and founders. We’re glad that this team of web3 disruptors came together at Graviton, and forever indebted to our invaluable mentors, who have helped craft this journey together. With everyone’s hearts set on building sustainably for the decentralized internet, we’re just really excited about what the future holds for the Indian web3 space”

– Vishal Sanap (Head of Portfolio Growth & Development at Graviton)

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$200,000 Fast Money Challenge: A Double Prize for the Leader Based on 4 Tournaments

Team Bitcoin Daily

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The $200,000 Fast Money Challenge tournament series begins. Use your chance to compete for 4x times more prize places! The event includes four rounds (tournaments), each with 20 winners.

And the series leader will get double lucky! The player who scores the highest in any round relative to the entire series will get two prizes – the one they receive for winning the round plus an extra $40,000 💰

Join the fair competition of the transparent blockchain casino and grab your share!

Tournament series schedule

  • Round I: March 1 to 7
  • Round II: March 8 to 14
  • Round III: March 15 to 21
  • Round IV: March 22 to 29

Participation terms

Get rakeback in TFS Tokens for placing bets and move up the leaderboard! In each round, the 20 participants with the most TFS mined will share $40,000:

  • 1st place $20,000
  • 2nd place $4,000
  • 3rd place $3,000
  • 4th place $2,000
  • 5-10th place $1,000
  • 11-20th place $500

The series prize pool is $160,000. And the series overall champion will get $40,000 on top of the reward they win in any round.

The transparency of the results is guaranteed by the blockchain. All players’ bets are recorded on the immutable blockchain, so you can always view any of your bets via Trueplay Explorer. Just copy your ID and paste it into the Explorer search bar.

Join the tournament and get rewarded!

About Fairspin

The Fairspin online casino was founded in 2018. It operates under the Curaçao eGaming license and is a fully transparent platform where users can check their bets and other gaming actions through the blockchain. That has become possible because of Trueplay Explorer, which records everything taking place on Fairspin and makes it available for viewing.

Fairspin provides more than 5,000 games by 70+ providers translated into 20+ languages.

The casino has its own digital asset – TFS Тoken. It can be bought or sold on the exchange and earned via our special loyalty program. We have released a limited number of TFS Тokens and are making sure the rate between TFS and USD remains stable.

There are two programs based on our TFS Тoken:

Play To Earn: users get rakeback (refund) in TFS for bets in each game. They can use the received tokens for holding, sell them, or continue playing.

Hold To Earn: this is an opportunity to hold TFS and then receive a percentage of the casino income in tokens as a reward. There are three holding programs: for 8 hours, 1 day, or 3 days. The average APR of the Hold To Earn program can reach 500%. Moreover, it is fully safe since even if the casino does not have income, the user will, in any case, get all the tokens they staked.

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LedgerFi’s ($LFT) Token Pre-sale: More than 8% sold out in less than 30 min on XDC Sale

Crypto Chain Wire

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LedgerFi, a leading decentralized web 3.0 secure communication platform built on the XDC Network, is excited to announce that their token sale will commence on March 14th, 2021 on XDC Sale. The token sale will offer investors the opportunity to purchase the native $LFT tokens of LedgerFi and join an innovative ecosystem of Decentralized Communication Service integrated with Decentralized Finance for enabling the seamless exchange of digital assets through a unified platform. 

LedgerFi has envisioned to become the world’s first Decentralized Digital Asset Exchange (DDAX) platform through which users can transfer all types of digital assets with a military grade security, cryptographic encryption, privacy and prevention from cyber attacks using the power of Blockchain technology.

LedgerFi is a one-stop-shop for DeFi users that provides access to various communication protocols and services in the industry such as Ledger Mail which is already live in the market and it has 750K users exchanging 2M+ emails,and upcoming products like

  • Ledger Chat: The Decentralized Instant Messaging Solution enabling users to instantly chat with peers without worrying about centralized governance. LedgerChat allows users to seamlessly communicate with each other without compromising their Digital Identity & Data Sovereignty. It’s in beta at the moment.
  • Ledger Live: The Decentralized Audio & Video Call Platform allows individuals & businesses to connect with each other in real-time. The centralized access point utilized in conventional VoIP solutions is eliminated with blockchain based communication technologies. Eliminating the hassle of handling centralized, cumbersome & hackable legacy platforms with the high-performing next-gen solution. Instead, a blockchain based communication system sends the signal from the calling party to a receiving number, which is then replaced by a dispersed network shared by all network users.
  • Ledger Pay: The Decentralized Cross-Border Remittance platform providing human-readable, interoperable & lightning-fast payment transfer capabilities for financial inclusion of the unbanked individuals.
  • Ledger Mint: Metaverse Interconnected NFT Transfer Hyper-personalized social connectivity for transferring, exchanging & showcasing NFTs and other digital assets through an interactive & interconnected platform.

Token Sale Details

  • Presale Address: 0x7db6AaF98bDFE47f197a3b1bbC3Cfe6CB0f302c4
  • Token Address: 0x65d358C56Ff2E64C007060D5D4dF308986734f5C
  • Total Supply: 400,000,000 LFT
  • Soft Cap: 7,500,000 XDC
  • Hard Cap:15,000,000.0 XDC
  • IDO Rate: 1.5 LFT per XDC
  • Listing Rate: 1.0 LFT per XDC
  • Liquidity %: 51
  • Min Contribution: 4,000 XDC
  • Max Contribution: 400,000 XDC
  • IDO Start Time: 14 Mar 2023, 19:30
  • IDO End Time: 05 Apr 2023
  • Liquidity Unlock Date: 05 May 2023

About LedgerFi

LedgerFi provides a web 3.0 communication service built on blockchain technology for secure communication through email, chat & payment applications. LedgerFi provides blockchain based Decentralised communication service & Decentralised Digital Assets Exchange for secure communication.

Media contact

ZEX PR WIRE

ag@zexprwire.com

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