TomoChain is excited to join forces with Wadz to enable online and point of sale (POS) payment solutions across Southeast Asia using the speed and security of TomoChain’s blockchain technology powered by its Proof-of-Stake Voting consensus, low transaction fees, and 2-second confirmation time.
Our partnership can potentially solve major merchant pain points in Southeast Asia where 73% are unbanked (according to KPMG). Leapfrogging credit and debit card banking solutions, Wadz is migrating to TomoChain from Ethereum to provide its users with a modern-day digital payment experience that simply is not possible on Ethereum today. Payments using the TomoChain blockchain will be near-instantaneous and similar in experience to that of e-wallets and credit cards.
The Wadz token will be issued using the TomoZ: Zero Friction protocol. TomoZ allows gas fees to be paid by the token itself so Wadz users will not need to hold native TOMO or even know that they are using blockchain, enabling expansion to a broader userbase.
By bringing together their respective strengths, both parties look forward to expanding their collective presence in encouraging digital payments across Southeast Asia, and eventually across the world.
“We are very excited and looking forward to growing our ecosystem with TomoChain for our initial expansion to emerging markets. With the rapid development of the Blockchain space, we strongly believe that the TomoChain protocol is best suited to develop and expand the Wadz payments infrastructure across geographies. Wadz has taken on an ambitious project of making blockchain-based payments a reality. We are positive our partnership with TomoChain will enable us to deliver cutting-edge and next-generation payment services for all.” Anish Jain, Wadz CEO
“We are proud to be working with the experienced leadership team at Wadz to drive greater awareness and adoption of blockchain as an underlying solution for payments. Wadz’s focus towards digital payments through scalable blockchain infrastructure and across SEA aligns well with TomoChain’s DeFi and regional expansion plans. This partnership, additionally, exemplifies our desire to enable success in projects building on the TomoChain public blockchain through priority technical support, relevant business connections, and market access. As such, we will be working closely with Wadz to help them execute on their 2020 growth strategy across SEA and beyond.” Kyn Chaturvedi, TomoChain CBDO
Wadz is a blockchain-based, inclusive application that is set to redefine the payment processing industry and incentivize data ownership for both consumers and businesses. Wadz strives for the minimization of malicious activities, and maximization of positive contributions through its unique Proof-of-Contribution (PoC) governance protocol.
TomoChain is a scalable blockchain powered via Proof-of-Stake Voting consensus and used commercially by companies globally.
Our mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits.
TomoChain’s technology and DeFi-focused flagship products include:
- Fast & Near-Zero Fees: 2000 TPS, 2 second blocktime, ~$0 gas fees, and EVM compatible
- An array of original features and protocols is designed to support speed, privacy, usability, and liquidity needs all in one platform.