Project Watch: Indian lead projects in the PAID Ecosystem
As India announces the rollout of its own digital currency, the country looks set to emerge as a global leader in the crypto sphere. The announcement follows the introduction of e-RUPI, a digital voucher system that grants Indians access to necessary services such as vaccinations. In addition to that, however, e-RUPI can be used by private enterprises and has served to modernize payment methods across a country where electronic payments had previously been the reserve of the wealthy.
India is developing its digital network at an incredible pace. e-RUPI and its ability to give many Indians access to digital payments was seen by many as a huge step in adoption of crypto in the second most populous country in the world. Now, The Reserve Bank of India is developing a model for the implementation of India’s sovereign digital unit. The Central Bank Digital Currency (CBDC) is expected to materialize by the end of 2021 and will be classified as legal tender in India. India will be joining China in developing their own digital currency meaning the two biggest populations on Earth are about to become extremely familiar with utilizing blockchain. What exactly this has in store for crypto is hard to say but it can only mean that more people are going to be entering the space.
The rise of digital currencies in Asia presents many opportunities for PAID Network to grow. The adoption of blockchain will create huge demand for digital agreements from both businesses and individuals. This demand can be met with the PAID DApp which can provide legal agreements verified on the blockchain which are secure and incredibly affordable. It also presents a great opportunity for the emerging blockchain technology within our network to thrive. These emerging markets will create even more disruptive blockchain technologies and projects that, if they meet our high standards, can be launched on Ignition.
Here are few of the projects that can trace their origins to the rapidly developing Indian market, whether it be their location or their leadership.
Razor Network
As legacy finance becomes more integrated with the crypto world, the need for blockchain protocols to access real-world information will increase. Information like share prices, election results, or even sports results have traditionally been brought on-chain by centralized oracles. Razor Network is a decentralized oracle providing data to smart contracts using a network of stakers. This is the most secure way to transmit information as it has no single point of failure like a centralized system. Using a highly efficient proof-of-stake validation system, along with dispute escalation and resolution mechanisms, the network is extremely resistant to collusion, bribery, and censorship attacks with strict penalties for misbehavior.
PAID Network is already a proud partner of Razor Network. The partnership will see Razor use PAID Network’s MVP to streamline processes within its business model. This will allow Razor Network to deliver invaluable information to the blockchain in an even faster and more secure way.
StackOS
Taking a business online can be a daunting experience for many traditional businesses. Most will rely on mainstream providers such as Amazon Web Services or Google Cloud which can be expensive and difficult to set up. This is, of course, a huge stumbling block for small businesses. StackOS is a decentralized cloud solution that allows third parties to contribute computing resources to projects across the world. By staking stack tokens, computing liquidity providers can earn revenue based on the processing power they contribute. Application developers can then test and deploy their applications using this computing power through a simple to use, codeless user experience. This will allow small businesses to come online easier than ever and creates a level playing field between them and much larger organizations.
The StackOS IDO was launched on Ignition back in April and we are proud to have this revolutionary on-ramping solution for the future of online business as part of our ecosystem.
Drife
The creation of the gig economy over the last decade or so has completely changed how labour is viewed across the world. It has created a dynamic where centralized bodies can profit off the labour of workers without any of the responsibilities associated with employing them. Ride-hailing has been particularly lucrative with Uber currently valued at nearly $75 billion. Drife is bringing the power of blockchain to bear on ride-hailing and completely reimagining the industry. The Drife platform gives the power back to drivers and riders by allowing them to govern the ecosystem themselves. Smart contracts will be used for fare negotiation, governance and managing privileges all as part of the transparently fair blockchain powered network. Drife is a true peer-to-peer network where the rider and the driver are directly connected for mutual benefit.
PAID Network’s Apollo-X was proud to host the launch of Drife’s IPO. Master Ventures is also a keen investor in the project, showing the faith we have for Drife to disrupt the ride-hailing industry.
Hypersign
Storing all of your usernames and passwords can be something of a hassle, especially for those with crypto holdings spread across multiple wallets. Hypersign is a cross chain identity protocol that aims to simplify the storage of sensitive information online. Using cryptography, Hypersign will store passwords and login information in sealed documents that can be stored on any mobile or cloud device. The information can then be presented easily whenever required, simplifying the process of logging into anything without compromising on security. Hypersign is a decentralized system which distributes trust amongst stakeholders meaning there’s no single point of vulnerability for the security of the information.
Cryptography is already a huge part of online security. Hypersign is using blockchain to develop the most secure and fairest means for users to easily access cryptographic functions.
ArGo
A lot has been said over the last year about the mainstream finally adopting crypto. As mass adoption becomes more of a reality, more and more developers will want to host websites and applications on leading blockchain based decentralized storage networks. ArGo is the tool that they need to simplify this process, connecting developers with leading storage protocols such as Arweave, Skynet, IPFS and others. ArGo allows developers to deploy on the blockchain without writing any new code. It provides a unified interface that will help them seamlessly integrate with different decentralized networks. Designed for DeFi, NFTs, and DEXes, it also allows developers to use their custom domains to ensure 100% uptime.
Ignition was proud to host the ArGo IDO. This is a project that can make censorship resistant decentralized hosting a reality for the mainstream.
We’re delighted to announce our expansion across Asia with the launch of PAID Network India!
PAID Network India is a significant milestone allowing millions of people in Asia and emerging markets to take full advantage of all opportunities. With its innovative features and disruptive innovation, PAID will continue leading Asia as we move forward into this next chapter together!
Are you in India, Pakistan, Sri Lanka, or Bangladesh? Check out PAID Network India and follow their twitter for regional updates!
About PAID
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
For any questions for the PAID network, please feel free to reach out to us on:
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
- Medium: @PAIDNetwork
