The Singapore government is working on a plan to make cryptocurrency payments mainstream by introducing blockchain technology into the country’s financial system. The goal is to bring about widespread adoption of cryptocurrencies as a form of payment, thereby reducing reliance on central banks and mitigating some of the risks associated with investing in this nascent industry.
Cosmose AI and Near are working to create a payment system that allows users to shop with crypto at low transaction fees, saving money for both buyers and sellers. By using blockchain technology, the duo aim to reduce the friction of buying and selling digital assets.
The investment from Near Foundation is a key indication of the high regard in which Cosmose is held within the blockchain community. The company has been working hard to develop its relevant technologies, and the investment will help it expand its reach even further. This partnership could pave the way for broader adoption of blockchain technology, which could have a significant impact on future economic prosperity.
As Retailers look to capitalize on the growth of eCommerce, they face a number of challenges. One of the biggest is addressing how customers discover and purchase products. Cosmose is offering a unique solution in the form of KaiKai and Near, their blockchain-based targeting platform. These tools let customers find retail stores nearby, as well as learn about new products and coupons for that store. This helps customers decide what items to buy and saves them time by allowing them to browse catalogs and compare prices at various stores without ever leaving their home or office.
Miron Mironiuk had one goal when he created Cosmose: to help everyday consumers and small businesses save money on their online payments. By using blockchain technology, he was able to create a platform that would make it cheaper and easier for people to transact without having to worry about fee charges. Consequently, Cosmose has become a leading player in the crypto world, helping people shop and conduct transactions without ever having to leave the comfort of their own home.
Online payments are notoriously slow and expensive, which is why Mironiuk has opted to keep his business entirely offline. His customers can pay him directly with cash or check, and there’s no need to wait days or weeks for financial transfers to complete. This old-fashioned approach might be a little slower and more difficult than using online payment processors, but it’s definitely more secure and reliable – which is exactly what Mironiuk needs in a business that deals with sensitive information.
In the market for goods and services, intermediaries like PayPal and Stripe can add an extra 10-15% to the prices of smaller transactions. Bypassing these middlemen costs buyers almost $200 in one year. It’s important that we have alternatives to these payment processors if we want to reduce costs for both sellers and buyers in the marketplace.
Pay with crypto
KaiKai’s blockchain payment system promises to reduce the costs associated with one’s annual coffee consumption by 50 times, making it a more economical option than Stripe or PayPal. With this innovative payment system, users can discover and purchase products near them without having to spend time searching for the item or dealing with excessive transaction costs.
If all payments were moved to blockchain, it would save businesses and consumers billions of dollars every year. It would also make the financial system more secure and efficient.
While some blockchains are costly to use, others have emerged that provide cheaper and more scalable alternatives. Cardano, Pokadot and Near are all examples of these innovative new platforms that aim to make cryptocurrency more accessible for everyone. Their superior performance means that they may soon become the preferred choice for most crypto users.
Given the meteoric rise of cosmoseAI, it is no wonder that the team spans far and wide. With AIHQ in Warsaw, Shanghai, Hong Kong, Singapore, Tokyo and Paris all contributing members to the burgeoning company over the years; there seems to be no limit to what cosmoseAI can achieve.
KaiKai is a shopping discovery app that allows users to pay for items with their native stablecoin, Kai-Ching. The app also creates a crypto wallet for users, who can top up Kai-Ching with fiat currencies. In the future, users might have the option to convert Kai-Ching back into fiat currencies. This innovative app could help remove headaches associated with cross-border transactions and pave the way for greater adoption of stablecoins within the ecommerce ecosystem.
The treasury works a bit like a bank account where users can store Kai-Ching earned in the app. This prevents value volatility, as only coins that are tradable within the app can be deposited or withdrawn. The treasury is constantly replenished using Dai stablecoins, which helps to keep Kai-Ching values stable relative to other currencies.
Cryptocurrencies are a new way of exchanging money and they are becoming more popular all the time. Kai-Ching is a company that has launched the option to pay with crypto in Singapore, which is in the process of formulating a stablecoin regulation. Since then, they have processed over 1 million transactions in the form of payments, refunds and rewards.
As cryptocurrencies become more mainstream, merchants are starting to adopt them as a form of payment. Kai-Ching is one such platform that allows users to pay with cryptos, cutting prices automatically when they make the switch.
Cosmose is looking to capitalize on the growing interest in cryptocurrencies in Singapore by integrating Kai-Ching into its platform. This move signals that the company is dedicated to providing a user-friendly experience for those interested in trading and using cryptocurrencies.
Own your data
Cosmose and Near seem to be onto something even more ambitious with their blockchain-based applications. They are promising to take back control of personal data from Big Tech’s centralized servers and give it back to users. This would be a huge victory for privacy rights, and could lead to much more transparency and accountability in the ways our data is used.
Since users trust Near to be keeping track of their every move, it could become the go-to platform for users to be more transparent about how they use their devices and shop. Transactions would also be much more secure, as anyone could not simply take data off of a blockchain if they wanted to.
A recent study from venture firm Andreessen Horowitz found that more than 80 percent of consumers would be willing to share some level of data about their preferences in order to receive personalized content and product recommendations from companies. However, there are several ways in which this personal data can be collected and used, so it is important for companies to decide how much information they want to Collect about their customers. Some people might prefer to have a limited amount of tracked information stored on their phones in order to maintain control over how they are being marketed to, while others may be comfortable sharing more data in exchange for receiving better recommendations and rewards.
The founder says that it is also a user experience challenge to create a way for people to get insights from the data quickly. This is important because it allows them to make decisions quickly about their businesses.
Cosmose has been a leading player in the developing world since its inception, and it is no exception in China. The company has a wide range of product offerings catering to Chinese consumers, from food delivery to cosmetics. While some of its product lines may be unfamiliar to Westerners, they are highly popular in China, where the company has developed an expansive network of stores. With 80 staff working across Warsaw and Shanghai, Cosmose is well poised to continue expanding into new markets worldwide.
