Blockchain is Revolutionising the World of Payments Processing

The advent of blockchain technology has proven to be a significant disruptor in every single industry, and its impact is perhaps felt the strongest within the realm of payments processing. Trustless distributed ledger technology allows for the bypassing of traditional intermediaries such as clearing houses and correspondent banks, which in turn promises faster, more secure, and cheaper international payments processing. Gone are the days of cross-border electronic payments that may take up to several business days to clear and come with transaction fees that are as high as 10 percent.

There exist today several giants in the payments processing space that have taken it in their stride to change the way consumers approach digital transactions, and Fiii is one such powerhouse.

Operating on FiiiGroup’s proprietary bluetooth payment technology, FiiiPOS, a cutting-edge mobile payment POS terminal compatible with more than 1,500 cryptocurrencies, promises full versatility and ultimate user-friendliness when it comes to how consumers make payments and share information around the world. With beta testing already well underway, FiiiPOS will prove immensely helpful in streamlining processes that include code-scanning, GPS, and facial recognition.

FiiiPOS is but the tip of the iceberg when it comes to what Fiii hopes to achieve with their ecosystem. FiiiCHAIN, a Blockchain-Solution-as-a-Service protocol that drives the entire Fiii ecosystem, has evolved over the many years of its development to become revolutionary blockchain architecture it is today. Built from end-to-end with the use of C# programming, FiiiCHAIN is designed be fully flexible so as to be adaptable to a wide range of data-based applications.

The underlying cryptocurrency that fuels FiiiPOS and the Fiii ecosystem is FiiiCOIN, a cryptocurrency that has been developed by the Fiii team as a successor not only to traditional mediums of exchange, but also to its digital asset counterparts such as Bitcoin that have proven to be bogged with limitations pertaining to transaction speed, price volatility, user-friendliness and general reliability. With FiiiCHAIN as its backbone, FiiiCOIN is fully compatible across all Fiii-issued terminals and other third-party devices such as desktop computers, smartphones and tablet devices and is powered by a proprietary Delegated Proof of Capacity (DPoC) consensus mechanism.

Dato Joey Huang, Chief Strategy Officer of Fiii, has remarked: “our ultimate vision is to build a Blockchain ecosystem not only for the high-end users but everyone who is interested in partaking in the Crypto market.”

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