Introduction
The fiat currencies we use today pass through a number of centralized checkpoints to reach their designated recepient. Cryptocurrency uses blockchain which is essentially decentralised by design.
With the rapid worldwide adoption of crypto, it is no surprise that it will soon enough be used for day-to-day items around the globe.
Nowadays, a number of cryptocurrencies are being utilized for this purposes however those coins are volatile and given their unpredictability, it is highly risky to initiate payments for everyday goods with such coins.
Functional approach
This is where stablecoins are vital, they lack the volatility of other crypto assets making them ideal for day-to-day items and transactions.
For this to happen, a blockchain must serve that purpose and we were able to identify Binance Smart Chain
#BSC as the ideal blockchain for the pruposed transactions.
Given its low transaction fees and extraordinary fast transaction time it is the most appropriate to serve as the blockchain that is pioneering the stablecoin revolution. Moreover, knowing that 5 USD worth of
$BNB enables 400-500 transactions on BSC makes it the perfect server.
Our Vision
At NexaChain, we are advocating the use of stablecoins such as USDT and USDC (as those are the ones most utilized amd known worldwide) for everyday products and services. That's why we have developed NexaChain, a non-custodial payment facilitation service working on the BSC to help interested businesses incorporate stablecoin payments into their workflow.
What is NexaChain
NexaChain is a Non-custodial payment facilitation software consisting of two applications, the NexaChain-Merchant and the NexaChain-Buyer apps.
Those applications are designed as a stablecoin payment facilitation ecosystem. Merchants use it to sell their products by creating a QR code for each item and buyers scan the QR code to confirm payments and proceed with on-chain transaction. The funds are then deposited to the merchant wallet.
The simple, safe, and instant transactions the platform provides adds to the revolutionary adaptation the world is seeing with cryptocurrency.
Availability of Platform
Both NexaChain apps are available on google play store and are currently running a pilot of onboarding business owners in 80 countries to tell us their experience and how can we further inprove this service.
Conclusion
We advocate the technology and decentralisation that serves the backbone of cryptocurrency. Being abopted worldwide, we decided to contribute to this revolutionary shift. Most importantly, thanks to being a global pioneer in cryptocurrency transactions, the BSC serves as the gateway for NexaChain functionality. We hope that we are able to positively contribute and also to possibly serve a positive impact in the cryptocurrency industry.