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OduwaPay – Oduwa Coin eWallet that financially improves minorities around the world.
– Bright Enabulele
LOS ANGELES, CALIFORNIA, UNITED STATES, December 3, 2020 /EINPresswire.com/ – Summary
OduwaPay: the challenges
OduwaPay: the solutions
Oduwa Coin blockchain: ideas and technology
Bottom line
Bringing modern financial instruments to nation states with underdeveloped economies is among the most impressive use cases in cryptocurrency. These issues are being addressed by experienced blockchain entrepreneurs like Eos (EOS) and Dash (DASH), investors like Square, and developers.
Meanwhile, the OduwaPay project has provided an all-in-one ecosystem focused on this particular use case. It combines sophisticated tokenomics and glittering usability with the unprecedented technology base of the PoW / PoS hybrid blockchain consensus.
OduwaPay: the challenges
OduwaPay addresses the most irritating problems for merchants and buyers in emerging economies. Entrepreneurs suffer from cumbersome and inefficient settlement problems, endless fluctuations in local currency prices, unreasonable transaction fees, and expensive payment equipment.
Buyers have limited access to electronic payments, especially for cross-border remittances. Furthermore, simpler financial instruments, such as microcredits, are not available to average clients.
Both sides are vulnerable to government manipulation and the dark and corrupt nature of popular money transfer tools. Even Bitcoin (BTC) and altcoin operations with reasonable rates cannot solve these problems due to the infancy of the cryptocurrency segment in developing countries.
OduwaPay: the solutions
OduwaPay’s integral solution based on cryptocurrency offers emerging economies a unique alternative to legal monetary institutions.
Mobile wallet
Initially, OduwaPay Wallet was created to offer businesses and individuals in Africa opportunities in digital fintech tools. By leveraging the low-cost, instant transactions of OduwaCoin (OWC), a unique native asset used by the OduwaPay protocol, it acts as a secure and reliable private digital transaction tool.
In addition to supporting OduwaCoin (OWC), it also allows for the conversion of OWC to local fiat currencies. Therefore, OduwaPay customers are not affected by accounting and calculation errors.
The OduwaPay mobile wallet is a ready-to-use solution for storing, receiving and sending OWC tokens. It charges customers low transaction fees and meets all the requirements of modern cybersecurity protocols.
Retail payment tool for merchants
The OduwaPay ecosystem is actively engaging merchants ready to support next generation payment tools. Committed to low transaction and recurring fees, business people can accept payments in OduwaCoins (OWC).
OduwaPay has released useful tools for merchants
Any interested merchant can create an account on the official product website and start accepting OWC payments with one click. Once the transaction has been approved by the blockchain and converted to local currency, it immediately goes to the merchant.
The application for merchants also supports the issuance and redemption of vouchers. This option makes the payment process (both occasional and periodic) even more fluid and instantaneous.
OduwaPay’s money transfer solutions have already been adopted by globally recognized companies such as Virgin Airlines, Expedia, Reddit and Microsoft.
OduwaCoin and OduwaUSD, the resources of OduwaPay
OduwaCoin (OWC) is a key resource of the OduwaPay transaction tools. A total of 21,000,000 OWCs are issued by blockchain creators with no additional scheduled issuance. OWC holders are protected from its volatility by OduwaPay’s native insurance system. OduwaCoin (OWC) has many public explorers and is monitored by two of the most recognized blockchain analytics services, Binance’s CoinmarketCap and CoinGecko.
OduwaCoin (OWC) is a native resource of OduwaPay
Additionally, meeting the growing demand for digital payments during the ongoing financial recession, the OduwaPay administration has released a stablecoin, OduwaUSD. Its price is pegged to one US dollar. With OduwaUSD, traders and buyers are protected from OWC price fluctuations and local African currency fluctuations.
Oduwa Coin blockchain: ideas and technology
All the solutions provided by OduwaPay are focused on solving the crucial social problems affecting emerging economies. The very name “Oduwa” refers to a concept that originated in the ancient state of Benin in West Africa: “the road map to wealth, where it is believed, your money should work for you and not against you. “.
OduwaPay’s priorities imply eternal human values:
… selfless and fearless democracy, fairness, an economy based on trust, equality, self-government, no hierarchy and love for all humanity.
To achieve their ambitious goals, OduwaPay engineers have provided a powerful and modern technology environment. Its blockchain is based on hybrid proof of stake (PoS) / proof of work (PoW) consensus. It allows network enthusiasts to earn money from staking and mining. Underlining the fair and equitable essence of OduwaPay, both operations have very low “ticket” prices. No high-end mining equipment is required to support the OduwaPay blockchain.
Aiming for maximum audience reach, OduwaPay has produced numerous binary builds: distributors for Windows, MacOS, Linux and two mobile versions (for iOS and Android). Its code is completely open source and available on GitHub.
Bottom line
To conclude, OduwaPay has created an all-in-one ecosystem to bridge the gap between developed and developing countries. Leverage decentralized, low-cost cryptocurrency infrastructure to power cross-border remittance systems, retail wallets, and merchant solutions.
OduwaPay supports native OduwaCoin (OWC) assets and OduwaUSD stablecoins. The system uses hybrid PoS / PoW consensus and has a fixed supply of 21,000,000 OWCs.
About the author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 5+ years in IT analytics, 2+ years in blockchain.
He has worked in independent analysis and in start-ups (Swap.online, Monoreto, Attic Lab etc.)
Bright Enabulel
Oduwa Blockchain Solutions Ltd
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Oduwa Coin – A global equalizer for Africa.
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