Modern-Day Decentralization of Payments Through Blockchain and Cryptocurrency


For the longest time, we trusted and held banks, financial institutions, and other centralized intermediary systems accountable to coordinate and safeguard all our valuable monetary transactions. Currently, however, the world is experiencing a paradigm shift towards decentralization. The foundation of this shift is on a framework known as blockchain. The technology involves the real-time recording of transactions of value on an unalterable, copy-proof digital distributed ledger. One can share information on this continually updated database, but it is incorruptible and does not exist in a single location. Therefore, records are public, decentralized, easy to verify but unchangeable. Netclearance is playing vanguard in the move towards such kinds of decentralized payment methods.

Transactions, transfers, and payments by crypto or digital currencies use the blockchain framework. Some in the trade sector, most recently in retail, already know of or use these types of payments. Cryptocurrency is global, not nation-specific. It does not limit trade to a particular region, and this feature supports decentralization.

The recent stabilization of this highly fluid type of payment, its rise in value, and decreased fluctuation are also among the reasons for its increasing popularity. A store, online or physical, only requires internet connectivity to facilitate payment through Bitcoin, Litecoin, Ethereum or any other kind of similar currencies. Our company is keen on supporting such straightforward ways of making payments.

Most importantly, the security of the payment is unlike any other seen before, even with banks and electronic money transfers. With fraud reduction and chargeback and rolling reserve elimination, there's nothing more a trader could require security-wise. And along with all that, the technology is one of the speediest ways to perform transactions. All these advantages motivate the move from centralization to decentralization and are in line with our objectives as a leading payment provider.

Netclearance is therefore at the forefront of supporting the decentralization of payments. We are building our latest infrastructure with digital currencies in mind. Our products such as the BLE-enabled mBeaconSAM mobile payment terminals and the mBeaconPay now allow tokens and cryptocurrency as disbursement upon a business transaction. We are also keen on providing merchants the current exchange rates. Hence, they have the opportunity to convert digital currency into its monetary equivalent in US dollars among other national or regional currencies.

For both the merchant and the consumer, try our product today and experience all the above conveniences of decentralized payment methods using our platforms on-premises or online. As we move to a fast, non-cash, low-reliance-on-intermediary-financial-institutions world, you can trust Netclearance to help you move with the times. Modernize your shopping and business experience and join us as we blaze the trail for decentralization of payments in the enterprise world. For more information on our payment platforms that support decentralized payments, contact us.