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Tectum’s Fintech Project
Like every other financial technology project out there, Tectum’s project aims to make things easier in the financial system. Tectum is finally launching SoftNote. The project is designed to close the gap between blockchain and normal cash.
The project seeks and overcomes the problems that affect the general acceptance of crypto around the world. Tectum aims to use SoftNote to infuse crypto and our everyday cash in a style that makes handover of value possible.
As it aims to foster transactionless payments, Tectum also wants to keep the use of physical cash but wants it incorporated with blockchain.
Why Should We Accept SoftNote?
Unlike popular belief, SoftNote is not a coin or currency of its own. SoftNote is different from a blockchain project, it is a financial technology project. It serves as an easy and quick way to transfer value.
It still has the features of physical cash as it still has value printed on a sheet of paper. The notes themselves have no value attached to them, and neither do they have international boundaries. It also does not need the blockchain’s approval and has no charge fee.
So unlike the traditional relationship that exists between a letter of credit and a case of cash, with SoftNote things are different. With SoftNote you don’t need to get the piece of paper to gain the value from the sender. The value is stored within the SoftNote bill.
With the value already in the SoftNote, one can easily make payments and settle debts without any stress at all.
How Does SoftNote Work??
SoftNote is an innovative project that combines the best of the digital world and the traditional cash system. It combines the ease and stress-free payments that can be made with cash and combines it with the safety of blockchain.
A simple handover is all it takes unlike the former way of transactions. This is possible cause it is backed up by Bitcoin and USDT which serves to preserve the value of fintech. The SoftNotes have specified values on them.
The handover process involves the SoftNote being transferred from one person to another. The receiver then can verify that the SoftNote has the mentioned value by visiting the network explorer.
If the advantages of this innovation are not enough, it has an added level of advantages. With SoftNote you get a new level of anonymity. Unlike transactions carried out with Bitcoin, SoftNote offers a level of anonymity that cannot be traced.
Advantages Of SoftNote
SoftNote does not require the users to be connected to the blockchain at the point of handover, only the receiver of the note has to. This is just so that the receiver is able to confirm that the coin has value.
Also, payments are made as quickly as the receiver is able to confirm the value of the softNote and unlocks it. So if they confirm the value once the SoftNote is received then the payment is quick.
It is also free from the issues that bother both the traditional industry and the digital market.