NAKA Goes Live: The First Non-Custodial Payment Card Fully Compatible With Traditional Payment Infrastructure
The post NAKA Goes Live: The First Non-Custodial Payment Card Fully Compatible With Traditional Payment Infrastructure appeared on BitcoinEthereumNews.com.
Imagine hooking your globally accepted Visa or Mastercard to your non-custodial crypto wallet – giving you sole control over your money, and being able to use it at any existing point-of-sale, ATM, cash register, e-commerce and more. Meet NAKA. NAKA made its grand entrance onto the world stage with the unveiling of its groundbreaking blockchain-based payment system and EMV-compatible NAKA card. CEO Dejan Roljic announced this exciting development during his closing speech at the Plan B Forum in Lugano, Switzerland. This moment represents a significant milestone in the history of payments, as it marks the first public demonstration of an EMV-compatible blockchain-based payment scheme and its corresponding self-custodial payment card, fully aligned with industry standards. Already operational in Switzerland, the NAKA scheme and NAKA card have garnered support from over 300 stores in Lugano. This pioneering solution is soon to be available in El Salvador and Slovenia. For more information about NAKA, visit the official NAKA website. How Does the NAKA Scheme Differ from Visa or Mastercard? The NAKA scheme is a payment network built on blockchain technology, yet it seamlessly aligns with the EMV (Europay, Visa, Mastercard) standard, ensuring compatibility with conventional payment infrastructures worldwide. This innovation facilitates the integration of blockchain payments into existing payment systems, offering a clear path toward global cryptocurrency adoption. NAKA payment transactions and settlements are executed via smart contracts on the Polygon network. This process is user-friendly, rapid, and cost-effective compared to traditional payment transactions. What sets NAKA apart is its self-custody feature, granting NAKA cardholders full ownership of their funds without the need for intermediaries when managing their assets. Dejan Roljic on Financial Inclusion NAKA’s CEO Dejan Roljic delivered an impassioned speech addressing the dire issue of financial exclusion, particularly among the unbanked population. He shared his vision of NAKA as a…
Filed under: News - @ October 25, 2023 12:22 pm