Nxt, an advanced Blockchain platform which builds on and improves the basic functionality of pioneering cryptocurrencies, says they are making great strides in its goal to use the Blockchain to simplify and enhance our daily lives.
Whereas many Blockchain companies are still in the fundraising stage, Nxt is fully operational and trading with a market cap of over a hundred million dollars.
The company, which has in the past offered functions specifically designed for crypto developers, is turning its focus to use cases which have to do with everyday life, from introducing new voting mechanisms to offering transparent international bank transfers that consumers can enjoy.
New Voting Mechanism For A More Honest Future
Nxt has developed a voting mechanism that can transform voting systems all across the world, so that we no longer need to deal with political corruption and inaccurate results. The decentralized nature of Blockchain technology provides a potential solution to common voting problems, such as double voting or people’s inability to make it to the polls on election day.
Nxt’s Blockchain technology gives the power to the masses as opposed to shareholders, c-level executives, politicians, or even the overworked volunteer counting your votes. Nxt offers a paperless, immutable, immediate, and highly secure solution that companies or institutions can implement easily into their systems. This technology can even be integrated with a mobile application.
Companies such as Accenture Spain have already recognized the potential of using a Blockchain as a voting solution (See Accenture’s voting demo below). Voting on the Blockchain is traceable and transparent. While this is the characteristic for all public Blockchains, Nxt differentiates in that its algorithms allows the vote count to be instantaneous and voters to remain anonymous.
BNP Paribas’s Private Blockchain
BNP Paribas is also experimenting with a private Blockchain based on Nxt. In a world that boasts a global economy, there are still many burdens that limit one’s ability to send money or make a purchase from across the world. BNP Paribas utilizes the Nxt technology to develop a Blockchain that will ease these burdens among BNP customers, deemed by the company as a “cash without borders project.”
International transactions are often bogged down by heavy fees and little to no transparency. The Blockchain technology, specifically the Nxt platform, will free BNP from restraints caused by swift codes and correspondent banks, which often overcomplicate international transactions. This is just the first step in utilizing Nxt’s technology in order to ease international transactions across the globe.
“I truly believe that Blockchain technology has the potential to change the world for the better,” said Lior Yaffe, Cofounder and Senior Developer of Jelurida, “The Nxt voting feature, as well as BNP’s adoption of Nxt technology, are just the first steps of many in order to achieve this goal.”
- OneFeather and BlocPal to Provide First Nations with Digital Financial Services - July 23, 2019
- Government Committee Wants Total Ban on Cryptocurrencies in India - July 23, 2019
- Judge Refuses to Dismiss Historic $224 Million SIM Swap Lawsuit by Crypto Luminary Michael Terpin Against Telco Giant AT&T Mobility - July 23, 2019
- RENBDO: First ICO Approved by European Commission – 70 Percent Funding From EU - July 22, 2019
- Chinese Government Blockchain Standardized Certification Received by Lenovo, Alipay, and Aelf - July 22, 2019
- KPMG Teams Up With Tomia, Microsoft And R3 To Create A Near Real-time Settlement Network For Telecom Companies - July 22, 2019
- Blockchain-Based ‘Lunar Registry’ Launched - July 22, 2019
- Daimler launches hardware Car Wallet with RIDDLE&CODE - July 22, 2019
- Ugandan President to Explore use of Blockchain to Tackle Counterfeit Drugs - July 22, 2019
- Blockchain-Based Travala.com Teams Up with Dash For Hotel Booking Payments - July 18, 2019
- SEC And FINRA Approves First Reg A+ Token Offerings - July 18, 2019
- Tokinex Tolken Sale Sells out in 35 Seconds - July 18, 2019
- 18 Organisations Launch The Convergence Alliance To Enable A New Open Data Economy Built On The Decentralized Web - July 9, 2019
- Bittrex Acquires Tradedash - July 3, 2019
- Korea’s Cube Systems Rolls Out New Blockchain eCommerce Platform - July 3, 2019
- Clinlogix Joins ALTEN Calsoft in Launching Blockchain for Clinical Trials - July 3, 2019
- Binance Charity forms alliance with 46 companies to unveil a stablecoin for the alleviation of period poverty - July 3, 2019
- Nestlé Breaks from IBM Food Trust Blockchain Group for New Milk Supply Chain Trial - July 3, 2019
- Tokeny Solutions Digital Asset Platform Gets €5 Million Backing from Euronext - July 3, 2019
- Blockchain Venture Capital Funding Reaches $822 Million in 2019 - July 1, 2019