For centuries, countries have put their faith in central banks to ensure their economic stability and superiority. Worldwide, central banks work to merge policies to ensure economic towering; however, their efforts fall short. An example is the 2007-2009 recess, one of the most significant economic failures of the 21st century, where the banking systems could not assure investors of reliability.
Fortunately, Apollo fintech launched a new CBDC platform dubbed NPP to revive central banks’ economic relevance and reliability. One unique feature of this platform is its independence from interference with policies from political establishments. Therefore, it is going to solve all issues surrounding the banking and financial ecosystem without influence from the government. The National Payment Platform has the capacity to power the entire economy. Moreover, this CBDC-based platform introduces technologically advanced functionalities that make it the most innovative financial system unparalleled by its peers.
First CBDC to Provide Real Digital Currencies
The NPP cashless system allows central banks to issue cashless national currencies. These digital currencies akin to stablecoins are deflationary and non-volatile, thus more reliable than fiat counterparts. Moreover, the NPP platform allows the completion of digital currency; therefore, it’s the first platform enabling the mainstream distribution of sovereign digital currency.
These currencies will enjoy the benefits of leveraging the Apollo blockchain, including fast, frictionless transactions. Additionally, promoting sovereign digital currencies is the best way of driving global crypto adoption; which is one of the vital core values of Apollo Fintech.
Easy Onboarding and Accessibility
Approximately 1.7 billion adults globally can’t access banking services due to accessibility and usability challenges. Most banking platforms are bandwidth fueled, thus only accessible in internet covered areas. The process of onboarding people in areas with no internet coverage often takes a lot of time and money; hence, most persons prefer remaining bankless.
Apollo’s NPP, a predominant platform in CBDC integration, merges functionalities that accelerate the onboarding process to banking services. Among the best-unveiled features is the physical agent’s access. Central banks will have agents in all significant towns and densely populated areas making accessibility and onboarding to banking services easy. These agents will go through rigorous vetting processes to boost trust in service provision.
Additionally, to bolster its accessibility, the platform plans to launch a series of functionalities to ease payments.
- Knox world pay- The Knox option allows users to complete transactions offline, only by using SMS. Users can complete BTC crypto transactions in a mere 2 seconds. Knox world pay, therefore, provides not only offline transactions but also fast and reliable payments. It will significantly drive the adoption of cryptocurrencies globally and catalyze the fight for banking the unbanked.
- Bank cards- To bolster on its accessibility, the CBDC will implant bank card capabilities. Users will get debit and credit cards to ease their transactions.
- NPP official app- This new CBDC provides users with the option of an app assuring users faster, safer transactions.
Apollo’s CBDC aims to tower in service provision by ensuring that it’s the most usable, reliable CBDC platform on earth. The platform implants even more functionalities, including QR codes and other offline codes, to widen its access.
To make payments accessible and cheaper for users, Apollo merges peer to peer capabilities. P2P transactions are decentralized transactions without regulating authorities. The functionality is lacking in the current central bank. However, NPP will bring true peer to peer capabilities; merchants and users will have complete control over their transactions.
First Tamper Proof, Transparent CBDC
One of the core benefits of blockchain-based CBDC is the immutability of the system. Traditional central bank systems encourage chances of fraud by providing systems that allow changing of transaction data. The loophole has been a significant cause of the corruption influx in developing countries.
Apollo’s NPP is immutable, thus a permanent system that can’t get manipulated. Days, months, and decades after a transaction, the details remain embedded in the system, and third-party auditors can access it. Moreover, the transparency of the platform creates openness in every transaction. Therefore, Apollo’s NPP is the first tamper-proof, transparent central bank digital currency platform on earth.
First Quantum Proof CBDC
According to research by IBM, the world is merely five years away from mainstream quantum computers. Quantum computing is the most power-efficient computing method. Additionally, this computing produces more results in a second than any other computing; these computers set to complete the complicated computations. Although it’s not going to replace current computers, its efficiency will encourage adoption by many systems. Quantum computers will attack systems that won’t befit quantum computing algorithms unless they are quantum-proof.
Apollo fintech is among the top companies adapting quantum-proof capabilities in its blockchain. Therefore, all products centered in the Apollo blockchain are quantum-resistant, meaning they are ultimate survivors of quantum migration. The national payment platform will be the only surviving payment network after the migration.
NPP, Apollo’s new central banking system, will solve all problems clouding the existing central banks. The platform launches the first-ever futuristics system, ultimately ending the usability, accessibility, and onboarding issues. The options of Knox world pay, bank cards, NPP app, QR, and offline codes will ease access to services, from payment to loan applications. The new central bank digital currency platform has quantum-proof abilities. That makes it the most advanced CBDC in the globe today.
Other blockchain capabilities that will help bolster the efficiency of NPP are adaptive forging and database level sharding. The duo mainly focuses on increasing the scalability of the blockchain to speed up transaction completion. Therefore, central banks adopting the NPP system will provide the best services in the financial globe. The national payment platform is the most advanced central bank digital currency platform of our time.