Wise MPay, a digital payment processing company from Singapore, gets together with Jelurida, a leading creator of open source blockchain platforms, to launch its own blockchain enabled financial services platform, Coalculus. Based on the Proof of Stake (POS) consensus protocol, the platform will be publicly regulated, decentralized yet extremely safe and secure.
Coalculus set to capture ASEAN markets
Coalculus was envisioned as a globally-trusted financial transaction facilitation platform but the Wise Mpay Director clarifies that the 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,” Mr. Jack Bai, Director of Wise MPay explains.
Banking on digital-savvy Southeast Asians
According to the KPMB research, Southeast Asians are one of the leading users of mobile network connections in the world and most of them own a bank account. Leveraging on the growing use of digital payment methods in South East Asia, the firm indicates that it is the perfect time to blend the traditional payment methods with the cutting-edge technology of blockchain and give consumers what they want, which is a safe, reliable, public and permissioned blockchain platform for payment.
Providing competitive benefits offerings
Based on Jelurida’s Ardor technology, Coalculus eliminates the need of middlemen to facilitate transactions, thus lowering the costs for its consumers. Implemented on an open source blockchain technology, the transactions are completely transparent and verifiable. Promising benefits are also offered to financial institutions and individuals who do not possess a bank account.
Bringing together the blockchain specialist and industry leader in financial services
Coalculus will boost Wise MPay’s retail market applications by enabling the generation of QR codes and application programming interface (API) through built-in apps. It will further simplify the process of developing and integrating mobile applications. The smart and strategic partnership between Wise MPay and Jelurida, will further open the path for similar innovations as consumers get the best of both worlds.