Safe Cash, a blockchain-based cash payment service, claims it tin grip 25,000 transactions per minute – to a greater extent than than 3,000 times equally many equally the bitcoin network – bringing cash into the electronic ecosystem. Safe Cash is an end-to-end secure payment platform giving banks, businesses together with consumers instant together with terminal cash-based transactions.
Banks render tokens redeemable for cash, allowing cash to move used equally a digital asset. Transaction short town occurs inwards less than v seconds.
“It (cash) is the solely payment today that hasn’t been brought into the electronic ecosystem,” a video noted on the companionship website.
Works With Bank Infrastructure
Safe Cash works with close browsers, Android together with iOS, offering the benefits of cash minus the inconveniences of existence irksome together with oft non secure. There are no chargebacks. Once funds are confirmed, a transaction cannot move nullified.
The software industrial plant with existing banking concern infrastructures and transforms a bank’s criterion demand deposit draw of piece of occupation organisation human relationship into a secure digital cash draw of piece of occupation organisation human relationship with global utility. Bank customers brand deposits inwards central for tokens. The funds stay on the bank’s residual sheet, together with the tokens circulate alongside merchants, consumers together with licensed money businesses.
Banks tin piece of occupation Safe Cash to prepare spider web tools for specific uses with REST (representational solid set down transfer) APIs.
Blockchain Benefits Cash Transactions
The blockchain technology scientific discipline provides a permanent tape that is created electronically together with is backed upwardly automatically inwards multiple locations. All transactions are recorded together with render real-time compliance.
The service offers novel revenue streams for banks together with merchants, such equally loyalty programs, client acquisition programs, immediate P2P, B2B together with B2P payments, cross-border remittances, social media payments, donations, together with recurring payments.
The software provides analytics together with tools that allow merchants to communicate straight with customers.
Chris Kitze, the CEO together with founder of Safe Cash Payment Technologies, said bitcoin is non a reasonable solution for banks because of uncertain governance, irksome consensus time, together with it is non built to scale for majority adoption for immediate e-commerce, according tocrowdfundinsider.com.
Kitze said the companionship has a path to increment the speed to 100,000 transactions per minute after this year, which is ahead of global demand. He said the evolution squad has worked for xviii months to solve technical issues.
The organisation has been designed to operate on close phones.
Permissioned blockchains are gaining favor with fiscal institutions over freely-traded cryptocurrencies similar bitcoin, Ripple or Ethereum, he said. Safe Cash, past times contrast, is alongside the outset blockchains to come across the transaction speed together with throughput needs of today’s market.
Advantages Over Cryptocurrencies
Safe Cash offers increased safety together with controlled consensus that does non rely on miners of whatsoever intermediary money that needs to move bought. It enables banks to wean themselves from the inefficient, high-cost SWIFT network which tin receive got days to transfer money.
The organisation allows banks to receive got their ain “white label” blockchain which they grapple together with control. They tin accomplish interbank short town with multi-currency wallets, a dissever banking concern short town blockchain, or a combination of these depending on legal compliance together with banking concern requirements.
Kitze said no other opened upwardly origin solution tin fit Safe Cash performance.
