We invite you to watch the full interview between Shahaf Bar-Geffen, COTI CEO, Jeremy Firster, Project Manager at the Cardano Foundation, and Mel McCann, Head of Technical Integrations at the Cardano Foundation.
In this video, we discuss the following:
- The long relationship between Cardano and COTI. The companies have been partners since 2019 and the relationship has matured towards Cardano’s investment in COTI
- The Cardano ecosystem is now growing and ADA Pay will grow with it.
- There’s a global demand for ADA Pay, institutions and people wishing to pay with ADA, leading to Cardano’s request to upgrade ADA Pay to Shelley Mainnet.
- Shelley MainNet introduces On-Chain Native assets, which means that tokens issued on ADA have the same level of security and stability as ADA (unlike ETH vs ERC20 tokens). This makes Cardano fast and low cost, therefore prime for payments with ADA Pay.
- Cardano is the first multi-asset blockchain: you can send multiple assets on the same transactions without a smart contract. This means that ADA Pay can evolve into Cardano Pay, to pay with multiple assets issued on-chain!
- Cardano sees ADA Pay as an institutional level solution, compared to a wallet-to-wallet transfer, as it solves licensing, tracking, CRM and tailored-for-payments user experience.
- ADA Pay will be embedded in websites, mobile devices and eventually in Point of Sale systems.
- Charles Hoskinson coined the term CCCI — Cardano Commercially Critical Infrastructure, components needed for mass adoption. ADA Pay is a core example of that and can help spearhead Cardano to mass markets.
- NFTs will also serve as a payment method on the Cardano network using ADA Pay.
- Merchants will be able to accept a payment with ADA and then stake it immediately for staking rewards, creating a positive feedback loop.
Watch the full video here:
Stay COTI!
For all of our updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io
Twitter: https://twitter.com/COTInetwork
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Discord: https://discord.me/coti
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
