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Last Updated : May 02, 2019 08:03 PM IST | Source: Moneycontrol.com

HTMLCoin partners with BlockPay to build Blockchain-based transactions protocol

The partnership will provide a fiat currency transaction system that will utilize a smart contract at the core of its validation and persistence processes.

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The HTMLCoin Foundation has recently announced a partnership with BlockPay. Within the terms of the agreement, BlockPay will utilize the AltHash Blockchain to bring an extra level of confidence and security to its fiat transactions solution, while developmental and maintenance support of all blockchain-related structures will be provided by the HTMLCoin Foundation's tech teams.

"Our team has developed a unique formula that allows international financial transactions with standard currencies without an intermediary. At the moment, we are well on our way to making a platform that will allow both online and offline transactions for all types of users, both individuals and businesses. BlockPay is seen as one of the largest online payment systems for the next 25 years," explains Nejc Paradiž, BlockPay's CEO.

The HTMLCoin Foundation and BlockPay partnership's final product, based on BlockPay's current proprietary solution, will be a fiat currency transaction system that will utilize a smart contract at the core of its validation and persistence processes, to perform secure and efficient fund transfers. All fiat transactions will be replicated in the AltHash blockchain, which will provide not only permanent storage for all transactions but also the indisputable privacy of cryptography.

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This ambitious project has just entered its development stage, with a planned time frame of approximately two months for the deployment of the blockchain layer.

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First Published on May 2, 2019 08:03 pm
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