- The payment solution “AdaPay” announced by Cardano, in collaboration with Coti, was released yesterday.
- This allows merchants to process ADA payments in over 35 Fiat currencies in near real time.
Cardano describes himself as a blockchain of the third generation, which has set itself the goal of solving complex problems in the world of finance and at the same time providing added value to all the players involved. The Cardano Foundation’s latest development drives the adaptation of ADA.
Cardano and Coti release payment gateway for merchants
In cooperation with the Fintech platform Coti, Cardano developed a payment solution called AdaPay and went live yesterday. The gateway enables connected merchants to process transactions almost in real time and to accept 35 different Fiat currencies as means of payment as well as to link them to a bank account.
Cardano already announced the development of the payment software at the end of October, so the announcement published yesterday confirms the release of the software. Coti is based on a directional acyclic graph (DAG) that does not store existing data in a blockchain but stores transactions directly on the platform.
Coti describes that their platform offers high scalability and very low transaction costs. The ADA Payment Gateway is operated with Coti’s Universal Payment Solution (UPI). Interested merchants can integrate the payment solution into their own website in just a few steps. Either via an “AdaPay button” or via a QR code-based point-of-sale system.
The partnership expands Cardano’s range of applications and further advances its adaptation for everyday use. However, it remains to be seen how many merchants will integrate this new option into their shops.
The following video shows a demo of how AdaPay works in practice:
Cardano expands expansion in Africa and researches zk-SNARKS for 2020
As we have already reported, the Cardano Foundation has plans for the development of a blockchain-based infrastructure in 54 countries in Africa. The Alliance aims to create sound legislation to promote sustainable growth in the region. The goal of the collaboration is to create blockchain governance.
As a first step, a clear and binding legal framework must be created so that entrepreneurs and private individuals, as well as governments, can find uniform rules for the further development of blockchain technology. Nathan Kaiser, members of the Cardano Foundation, elaborates:
Legislation is the key to acceptance and actual use of the blockchain. The Cardano Foundation is proud to be at the forefront of shaping Blockchain-enabled sustainable growth in Africa.
Cardano has already made efforts in the past to expand its presence and cooperation on the African continent. The current cooperation members include the University of Mauritius, the Economic Development Board of the African Leadership Centre, the Swiss Embassy, the Swiss Blockchain Association and several other local institutions.
Recently, Charles Hoskinson, founder of Cardano, announced in an AMA (“Ask-me-anything”) that Cardano is enthusiastic about zk-SNARKS. He and his team have been working on the analysis of Zcash’s Halo and the implementation of SNARK solutions for Cardano for several months.
Subscribe to our daily newsletter!
No spam, no lies, only insights. You can unsubscribe at any time.
ADA’s price has risen +5.20% to USD 0.0413 in the last 24 hours.