The main reason for the cryptocurrency, whose blockchain uses the first and extremely safe PoS algorithm, to rally is the partnership with Wise MPay to introduce blockchain financial services platform in Southeast Asia. The platform is built with Ardor technology.
Wise MPay, the Singapore-based global payments tech firm, is working with Jelurida, the reputed blockchain specialists, to introduce “public-permissioned blockchain financial services (BFS) platform.”
A recent study indicates that 27% of Southeast Asians have a bank account while domestic mobile phone connections exceed the population by 33%. So, the region needs dependable access to digital finance.
In this regard, Coalculus is planned to be unveiled in September 2019 as JPL-compliant software that offers state-of-the-art digital remittance, and ATM related tools to government organizations, financial institutions, and those who do not own bank accounts in Southeast Asia.
Banks and financial institutions believe that blockchain have the ability to increase trust in multi-party centralized ecosystems and boost the speed, safety and capability of several conventional banking procedures. The Coalculus BFS platform is being developed using the robust Proof-of-stake (POS) consensus algorithm, guaranteeing exceptional levels of decentralization, safety, scalability and capability.
As the system uses a permissioned version of Jelurida’s Ardor technology, Coalculus guarantees lower costs, quicker processing of transactions, enhanced transparency, operational auditability, and other benefits forboth financial institutions and unbanked individuals trying to gain access to digital financial services.
We are happy to share that we have partnered with Wise MPay to launch #Blockchain financial services platform in Southeast Asia built with #Ardor technology! https://t.co/6tUrPXI23F
— Ardor Platform (@ArdorPlatform) June 18, 2019
Wise MPay also included end-to-end KYC/AML/CFT procedures to its enterprise blockchain solution, and increased value with internet-of-things (IOT) enabled products such as automated teller machines (ATMs) and prepaid cards. Furthermore, Coalculus offers the framework for trouble-free building, incorporating, and adopting mobile apps with inherent tools like QR code generators and standard application programming interfaces (APIs).
About Coalculus BFS platform, Jack Bai, Director of Wise MPay, commented as follows: “Our vision for Coalculus is to create a globally-trusted financial transaction facilitation platform, but our initial focus is between ASEAN (Association of Southeast Asian Nations) countries, Hong Kong and Australia. Our framework is a convergence of public and permissioned blockchains developed on the simple idea that organizations should be able to quickly and easily implement new financial services and leverage the benefits of blockchain. This is our USP and this is why we chose Jelurida as our technology provider.”
Regarding the knowledge and capability of Coalculus team, Lior Yaffe, Senior Developer and Managing Director of Jelurida, said “We are impressed by the professionalism of the Coalculus team. Wise MPay came to us with more than just a vision. They keenly understand the different blockchain technologies on the market and have identified opportunities for maximizing the value of their BFS platform. It has been our pleasure to support the team at Wise MPay in making Coalculus a reality.”