Egypt Based Pravica Unveils Decentralized Communications and Finance platform
The “everlasting message” is among the Pravica Club’s distinguishing characteristics. Customers of Pravica Messenger or Pravica Clubs will be able to retrieve a 1024-character message and mint it as a permanent message. The everlasting message is presented as an NFT. Pravica, the Web3 Blockchain-compliant communication system with a foothold in the UAE, created the initial DcFi (Decentralized Communications and Finance) network under the title Pravica Club.
The DcFi Pravica Club is an expansion of Pravica’s previous efforts over the last three years. Developed on Stacks Blockchain and protected by Bitcoin, Pravica apps has created and released a totally decentralized Web 3.0 communication system that enterprises and users can use simply and safely. In addition to the Pravica Messenger for mobile gadgets, Pravica currently provides the Pravica club.
Mohamed Abdou, Pravica’s founder and chief executive officer, stated, “We are supporting the Web 3 creative economy. Users will require decentralized ids, safe communications, and P2P financial activities in the age of the metaverse. DcFi, promoted as Pravica Club, is the entrance to a Web 3.0 creative economy.”
The Pravica Club is the initial DcFi platform with a variety of appealing features. It is a DcFi solution because, in addition to supporting Web3 and in-house crypto chats, it also provides smooth in-chat payouts and stacking pools, much like the majority of DeFi (Decentralized Finance) apps now available.
Participants of Pravica Club are onboarded with a decentralized identification derived from BTC domains created by a smart contract on the Stacks Blockchain and safeguarded with Bitcoin. No email address, phone number, or other personal information are necessary.
All communications are encrypted. By signing particular messages with the Hiro wallet, it is possible to connect communications straight to the cryptocurrency wallet. In the hereafter, Pravica intends to offer the complete functionality of wallet-to-wallet chats in addition to the possibility for users to welcome others utilizing wallet addresses to achieve full connectivity.
Gideon Greaves, managing director of CV VC Africa, stated, “Pravica club is genuinely revolutionizing online communication. It will not be long until the web3 community abandons centralized communication solutions. I suppose that they will go to the Pravica club. Pravica’s functionalities, safe platform, and personnel are top notch.”
Rather than copying and pasting NFTs for using as profile images, users may just take the NFT from their wallet and display it as a validated avatar. The NFT is validated by the wallet of each user. In the hereafter, these NFT personas will be used to access further Pravica Club services. Users are able to transfer bitcoin payments and join stacking pools. Therefore, content providers may monetise their material via “Write to Earn” or “Create to Earn,” similar to “Play to Earn.”
The “everlasting message” is among the Pravica Club’s distinctive characteristics. Members of Pravica Messenger or Pravica Clubs will be able to obtain a 1024-character phrase and coin it as a permanent message. The everlasting message is presented as an NFT. Personal memories, such as the initial time someone uttered “I love you,” commercial agreements, and historical remarks may be preserved and engraved using everlasting messages.