Originally a niche technology connected mostly with cryptocurrencies, blockchain has become a transforming agent in institutional finance. Although the buzz over speculative cryptocurrencies may have faded, the underlying technology’s ability to transform banking processes is indisputable. Blockchain is no longer a future idea for banks; it is a strategic need. 

The issue now is not whether banks should use blockchain but rather how best they might do so to fully utilize it. The advantages from operational effectiveness to improved security and fresh income sources are too great to overlook. Navigating the complexity of blockchain adoption, though, calls for both a clear plan and the appropriate technological partner. Platforms like W Chain come in handy here since they provide customized solutions to enable banks to move naturally into the blockchain age.  

The banking and finance sector is experiencing massive change due to technological advancements and shifting client expectations. Blockchain technology is transforming various industries, particularly payments, decentralized finance (DeFi), and international remittances. With increased digital payment methods, blockchain’s role in optimizing automation, transparency, and efficiency will increasingly benefit banks, enterprises, and customers.

This article delves into why blockchain in payments plays an important role and how W Chain is transforming the financial environment with its cutting-edge blockchain platform, serving a wide variety of segments including financial institutions, DeFi traders, institutional crypto players, cross-chain DeFi, and retail segments like tourism.

Dive deep into the journey of W Chain, from its inception to its bright future. Ask your burning questions and learn about the challenges, successes, and the exciting roadmap ahead.

October 8th, 2024 – WadzChain Network, a global leader in innovative blockchain technology, announced today the launch of one of the world’s first hybrid blockchains intending to transform global payments for businesses. WadzChain’s user-friendly interface and a highly scalable platform offers the ideal solution for businesses looking for secure, scalable, fast and cost effective transactions locally or across the globe-over encrypted blockchain networks.

WadzChain’s hybrid blockchain is designed to cater to all types of payments needs including micropayments, high-volume payments, disbursements, benefits and many more. Backed by industry expertise of over 250 years, the platform meets the needs of government, corporations, merchants and consumers while being highly scalable, with the capacity for up to 10,000 TPS. Its hybrid architecture (Layer 1 public, Layer 2 private) uses Proof of Stake (PoS) for public consensus, and Proof of Authority (PoA) for private consensus, ensuring fast, secure transactions. Interoperable and compliant with global regulations, WadzChain supports multiple digital assets and payment gateways, offering smart wallet integration, comprehensive payment features, and flexibility for businesses to operate in both public and private environments. The blockchain is perfect for diverse businesses and use cases, from small startups to large enterprises. In response to the evolving needs of its business, WadzChain Network has strategically shifted its focus to solidify its long-term growth. This renewed emphasis is on building the core of the business with purpose-built technology, ensuring its foundation is robust and aligned with future opportunities. As part of this strategy, the company is making key investments across several critical areas, including the Testnet and Mainnet developments, as well as increasing marketing and community engagement, plus expanding its listings on prominent platforms. While these advancements may involve internal restructuring to optimise operations, the approach is being managed carefully to ensure the organisation remains agile and fully committed to serving its community and all critical stakeholders.

Commenting on the launch, Mr. Anish Jain, Founder, WadzChain Network, said, “At WadzChain Network, we are leveraging our experience in the global payment industry to create a secure and user-friendly payments platform for global enterprises. Our vision is to become the central switch for all payments globally, providing interoperability across all digital currencies, including CBDCs. As the payment ecosystem evolves, WadzChain will serve as the backbone, offering unparalleled scalability, security, and flexibility. We are committed to building a global, future-proof solution that addresses the complexities of modern payment systems.”

Expressing his enthusiasm on the launch, Senior Vice President at WadzChain Network – Stas Madorski said, “WadzChain represents a new frontier in global payments, where speed, security, and scalability come together seamlessly. Our hybrid blockchain is designed to empower businesses with the tools they need to thrive in an increasingly connected world. With its hybrid approach, modular infrastructure, and the company’s deep understanding of payment demands, we believe that WadzChain will become the default blockchain payments platform globally.”

With the Testnet launch, WadzChain invites developers to build the next generation of payment applications on its versatile infrastructure. The blockchain offers developers the freedom to create tailored solutions that address real-world business challenges while taking full advantage of WadzChain’s scalability, security, and speed with decentralised finance (DeFi) support. It is the foundation for cutting-edge payment innovations.

The WadzChain Testnet is just the beginning. Based on feedback and the success of this testing phase, WadzChain will move towards the phased launch of its mainnet. Developers, businesses, and users will benefit from the enhanced capabilities of the mainnet, which will incorporate all the insights gained during the Testnet period to deliver a secure, scalable, and business-friendly platform.

For Developer Enquiries and Testnet Access: https://scan-testnet.w-chain.com