INTENT
Crypto-Fiat Payment Platform Links De-Fi and Trad-Fi To Make Crypto More Accessible
Introduction
The financial world is changing. The surge in digitization and FinTech is a major factor. Decentralised ledger technology and De-Fi are shattering banking paradigms. Banked people can switch banks in seconds, while billions of unbanked people can get banked with a few clicks on their phones. Old bank customer data is useless with Open Banking and Open Finance.
Additionally, traditional fiat monetary systems, which face uncontrolled monetary easings and inflations, have a new, formidable opponent. People can freely pick financial providers, currencies, and monetary systems, reducing old institutions’ dominance.
Purpose and Goals
At TENT, we think everyone should have the freedom to decide for themselves whether they want to empower third parties (like banks) or not. By hastening the adoption of bitcoin, we want to empower individuals worldwide to have more control over their digital money, in any form they choose.
The development of high-value, scalable, and legally acceptable financial technology solutions that unite the Trad-Fi and De-Fi domains is key to our objective. We want to provide smooth transitions between fiat and crypto, so that both business-to-consumer and business-to-business customers may easily trade cryptocurrency for fiat, fiat, and more crypto.
TENT Products and Services
A crypto-fiat payment platform is what we’re aiming to create with TENT, connecting the De-Fi and Trad-Fi spheres and making it easier for regular people to use crypto. A complicated payment platform is the result of the solution’s integrated features and functions, which are based on the TENT authorization and clearing payment system.
Wallet For Tent: The goal of developing TENT WALLET — which offers both custodial and non-custodial wallet options — was to lower the barrier to entry for cryptocurrency users without sacrificing privacy or security. As for the future of the wallet, it will be able to handle inbound and outbound transfers (on/off ramps) by various means such as bank transfers, card or crypto peer-to-peer, the ability to withdraw cash from external bitcoin ATMs, and payment connectivity for international money transfers.
The Tent Card: An external cryptocurrency wallet, such as TENT, may be linked to a Mastercard, making it possible to make instantaneous payments at any of the tens of millions of payment terminals worldwide or at any of the millions of online stores that display the Mastercard logo. The customer has the option of using a plastic card, a mobile payment system (like Apple Pay or Google Wallet), or both. The first option provides a completely digital experience, allowing customers in any EU country to set up a new Mastercard online in a matter of minutes.
Token Tent: The TENT Token, INTENT [Ticker: INTENT], is a blockchain-based utility token that incentivizes TENT users to reduce or eliminate infrastructure fees. As an asset with a large value backed by a money pool from each TENT transaction, it might be treated as an independent digital asset with immediate exchange liquidity. Market-wise, the token activates and retains users.
Gateway for Tent Payments: Using TENT PAYMENT GATEWAY, users and merchants alike are able to buy cryptocurrencies and fiat currency interchangeably in online stores. The gateway also has integrated KYC, KYT, and settlement procedures.
Ecosystem of TENT
TENT’s main function is to facilitate transactions between two different types of money for the benefit of regular people. With the help of third-party partners and services, the INTENT token is incentivizing the usage of the core modular payment platform, which is building a fully operational ecosystem for retail consumers, business customers, and other stakeholders.
Supporting FIAT institutions
The future of TENT lies on the complete compatibility of user applications with competitive financial environments. We must actively collaborate and engage with the fiat world if we want to give users a smooth experience. Using PSD2 APIs, we may incorporate conventional banking account services without delving into the realm of fiat currency.
Safety and Regulation
The foundation of our dedication to our consumers is establishing trust. We are getting ready for the MiCA legislation in the EU market since we think security and compliance are the cornerstones of getting cryptocurrencies adopted by the masses. To keep digital assets out of the shadows, it is necessary to comply with Know Your Customer and anti-money laundering regulations. In our efforts to spearhead the widespread use of cryptocurrency, TENT has implemented comprehensive anti-money-laundering (AML) checks and Know Your Customer (KYC) procedures (KYB for business customers).
Growth Plans and Project Roadmap
TENT has three primary strategies for expansion.
Phase 1 of the TENT platform showcased by the fundamental TENT wallet and card.
Phase 2, it will concentrate on the business-to-business market and grow into a set of use cases.
Phase 3, As a superior alternative to traditional banking services, TENT would eventually provide full-service for all accessible on/off ramps.
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AUTHOR
Bitcointalk Username: Ari Hartiningrum
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=3432295;
Telegram Username: @arihartiningrum1
Wallet: 0x8b1EAEb74C4D1788892F2B14AFB505bC1CDEcE13
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