Blockchain technology usage is increasing perpetually around the world, with 47.14 million blockchain wallets having been registered in the first quarter of 2020. It is also said that 62% of all blockchain storage is accessible to mobile wallets. Although there are other forms of blockchain wallets like computers and the internet, mobile wallets carry the majority. The mobile money banking system is the most vastly used globally.
Although 3.5 billion people in the world are mobile phone users, digital payments and the use of cryptocurrency has proven to be difficult. All the trials to fix the problem have been futile, until now with the introduction of Knox World Pay; the first and the only platform that has made genuine mass adoption a reality. It is the first mobile-based platform that uses the Apollo blockchain technology to eliminate barriers that blocked mobile users from using digital currency.
Apollo Currency is the world’s fastest cryptocurrency available on the digital currency market. It is the engine behind the Knox World Pay system and was created by Apollo Fintech. Unique technology and years of work were put in to make it one of the most advanced 3rd generation blockchains in the digital industry. It also boasts the most feature-rich blockchain in cryptocurrency. It majors on two factors, speed and sustainability, making it unique from other cryptocurrencies.
Features of the Apollo Currency
Apollo currency has the first-ever blockchain to implement database level sharding. Many technologies such as sharding, apollo atomic swaps, adaptive forging and node synchronization have made it one of the most advanced cryptocurrencies. Transactions within the Apollo currency can occur as fast as sub-seconds to 2 seconds per transaction. It has vast features that allow mass adoption such as:
- Asset system
- Alias system
- Phased transaction
- Blockchain file storage
- Decentralized marketplace
- Multi-signature accounts
- Encrypted messaging
Apollo currency has several use cases that are involved with cryptocurrencies, from the government to banks and even to small business owners. These use cases simplify mass adoption of digital payments and they include
- National Payment Platform
- Knox Wire
- Knox World Pay
- Apollo E-Government Platform
Barriers to Mass Adoption
The two major issues facing mass adoption of blockchain are;
The trouble of being unable to access cryptocurrency challenges any possibility for mass adoption. Gaining access to any form of digital currency, and even selling it for some is practically impossible. Taking into account that transactions of digital currencies can take hours or even days proves difficult to deal with cryptocurrency. It takes a disturbing amount of time to create a digital wallet. The majority of cryptocurrency users around the world are unbanked, hindering anyone interested in an exchange or investment.
Globally there are different types of countries; first, second, and third world countries. Some parts of this world are remote and do not have any internet access whatsoever. Although a significant number of the world’s population own mobile phones, the majority of mobile phones are not smartphones. Third world countries like those in Sub-Saharan Africa, lack smartphones and computers. This challenge has prevented the rise of blockchain technology significantly.
The Ultimate Solution
Before the Knox World Pay system was introduced, no blockchain-powered mobile money banking systems were available. With the majority of blockchain wallets being accessible to mobile phone users, none were able to remove the two barriers that blocked the mass adoption of blockchain. Knox World Pay system has removed those barriers and made it easier for even someone in a desert in Africa to access their blockchain wallets. No struggle will be felt regardless of where one is; they can trade cryptocurrency well within their comfort zone.
Knox World Pay has created an extensive agent network that is available globally. Anyone can sign up to be an agent from any part of the world. These agents facilitate one on one interactions with cryptocurrency users, helping them to access and use their wallets during transactions. The agents help locals to open up blockchain wallets, so one doesn’t have to go through the long and tiring struggle. This financial system makes mass adoption for the use of blockchain technology easy. The network also serves as a job-creation platform, achieved when the agents decide to create systems of sub-agents to assist them, creating jobs locally.
The system also curbs the second barrier, usability. Mobile phone users that don’t own smartphones and people who reside in areas with no internet access have limited access to cryptocurrency. Knox World Pay using various technologies has unlocked the use of cryptocurrency without the two. While offline, one can now transact cryptocurrency via their mobile phones using SMS transactions, QR codes, and even physical blockchain-based bills. Blockchain cryptocurrencies such as BTC can directly be sent and received using a cheap mobile phone via a text message due to the Knox World Pay.
Knox World Pay system makes it easy for digital payments to occur anywhere within the world. It has the potential to serve the world’s population and even the whole world’s economy. From banking institutions at the local level to the international scale, peer to peer digital payments, and small business owners, everyone can transact freely. In a nutshell, the system genuinely banks the unbanked.
As it was hard for everyone to use blockchain technology, Knox World Pay brings it right to anyone’s doorstep, wherever they are. Someone in a third world country can now use cryptocurrency without worrying about having a smartphone or internet. A first world country peer can now pay a third world country merchant using BTC with no complaints from both parties.
The 7 billion population in this world, will now have access to blockchain technology. Companies and governments can also facilitate payments of their services using blockchain technology without the hustle of developing their systems. As Knox World Pay removes the struggle of accessing and using blockchain, it is the first to achieve global mass adoption of blockchain.