Transfer of money is an integral part of any commerce. Most businesses rely on fiat and fiat based monetary systems to conduct their businesses.
Crypto is emerging as a viable alternative to fiat
While the fiat world is crumbling under the weight of inflation and central bank policies crypto is fast emerging as a viable alternative.
BTC, ETH and so many other coins have emerged as great cryptos with immense value. However can they be used as a mode of payment?
They could if the conditions were more conducive for example if you do a $5 transaction in BTC or ETH for goods bought at a store the network fee would be way higher than the amount be spent.
Speed of transaction
Based upon the blockchain network traffic there could be a wait time of several minutes for the transaction to be confirmed so that the buyer can complete the transaction and leave.
Now imagine a crowded supermarket on the weekend where buyers are already waiting in a queue to pay and move out of the store.
A several minute wait to process the transactions would only make things worse.
Supporters of the bitcoin lightning network might like to offer their services but setting up the services is cumbersome and there are serious challenges when it comes to scalability.
So could crypto never emerge as a viable alternative to fiat?
SoftNote comes to the rescue
SoftNote is a solution that creates the possibility of doing instant, trustless and free transactions both for Bitcoin as well as other cryptos.
SoftNote does that by creating digital cash for the crypto.
SoftNote runs on the underlying TecTum blockchain.
Using its bleeding edge features it is able to create a digital cash system and unlimited scalability for any blockchain.
Using this solution anyone can be able to use crypto for day to day transactions and earn reward points as well.
Realising the SoftNote Dream
The team behind SoftNote wants to create an ecosystem with equal opportunities. to facilitate such a system it has a solution that implements a trustless, frictionless and decentralized monetary system.
Softnote is revolutanizing the way payments are made. It combines some amazing features to its state of the art payment system.
Its solution implements the following features.
Transparency
Conventional debit card payment systems are centralized however Softnote has developed its system to be trustless, decentralized and send out the crypto currency which is quite unlike some traditional crypto payment and debit systems which only do the job of providing a messaging system which is in a lot of ways very similar to conventional banking.
The legacy services act more as custodial services and do not have the ability to send out the actual BTC
However SoftNote with its path breaking technological solutions does not only physical real time transfers in real time powered by its ultra fast layer 2 blockchain.
Scalability
The lighting network brought hope to the BTC ecosystem however it failed to provide scalability.
This can be a big pain point that causes systemic failures when more people begin to use the system and this pitfall deters adoption.
Since Softnote utilizes the TecTum blokchain making it extremely scalable.
Suited for high transaction environments it can operate at 1.3 Million transactions per second.
Anonymity
Ledger based solutions invariably require users personal information and may include wallet addresses in the records.
These bookkeeping practices may lead to tracking of your accounts, funds or even freezing by a centralized authority.
On the contrary Anonymity is built into the Softnote solution as it works on only two parameters
- The Pass Code and
- The Serial Number
This makes the user transactions private, secure and untraceable.
Boundlessness
The softnote is designed in such a way that it can be integrated into any system with ease. This does away the need to be having any specific compatible wallet.
This gives those integrating and using the SoftNote system the benefits that offer the amalgamation of using hard cash as well as an electronic payment system.
This gives the SoftMote system the ability of providing a Fungible and Convenient payment system.
How would SoftNote be a viable solution and generate revenue as a business?
The revenue for SoftNote would come from
- Merchant Terminal Fees
- Ad revenue
- Ecosystem Fees
- TIA AI module fees and
- Any further tectum products
What makes SoftNote a reliable solution?
SoftNote draws its core functionality from the Tectum blockchain which is designed to provide security as part of its functionality.
The proven track record of its founders
The Tectum blockchain is owned and developed by CrispMind which is a CyberSecurity company and to its credit it has developed products like
- quantum-proof 3 Factor Authentication
- The Grig Messenger and
- Many trusted B2B solutions.
In its professional journey it has obtained 50 patents and many intellectual properties related to
- information security,
- distributed LEDGER protocol
- Online messaging
- cryptocurrency
The security functionality is built as a result of the security expertise of its core team that brings its vast 8 year experience from the security industry.
Final Thoughts
SoftNote’s Digital cash from crypto generation feature can be implemented for
- Any Crypto
- Any Blockchain
- Can implement Unlimited scalability
SoftNote could be a game changer for businesses and the crypto users. In case you want to try out the SoftNote wallet feel free to create your wallet from
Useful Links
For more information feel free to checkout
The Official SoftNote Site : https://softnote.com/
The Official X handle : https://twitter.com/tectumsocial
