Blockchain technology and cryptocurrency is one of the major emerging mega technology trends of our century. By enabling trustless, immutable and decentralized transactions, blockchain technology is setting the foundation for a suite of new generation applications that will dramatically reshape the internet and enable stronger and more inclusive societies.
The mission of Crypto.com is to accelerate the world’s transition to crypto. The Crypto.com team has a clear vision to put cryptocurrency in every wallet with a strong focus on real-life use cases.
It took Crypto.com a little over 2 years to launch the key product in its consumer offering: a globally accepted payment card – the MCO Visa Card. The reason for this is simple: traditional payment networks do not natively accept crypto today. It makes for a slow, expensive go-tomarket process, heavily limiting the number of people we can introduce to the crypto ecosystem.
The Crypto.com Chain was created to address this problem.
Technical Paper abstract
Blockchain technology and cryptocurrencies are a cryptography and security breakthrough as significant as the internet was in 1990s. The technology is however still at a very nascent stage. To generate mass adoption, it will need to find compelling real-life use cases which can appeal to a larger audience than industry professionals and experts. We believe enabling cryptocurrency spending in the real world will be an adoption catalyst. Current traditional payment institutions and existing blockchains have not been able to provide a secure, scalable and decentralized solution to support cryptocurrency payment. We propose Crypto.com Chain, the next generation decentralized mobile payment protocol, the most efficient and secure way to pay and be paid in crypto, anywhere, any crypto without fees. Crypto.com Chain will deliver on its vision by developing innovative technology components and processes (inc. scalable encryption algorithm to protect users’ privacy, utilizing trusted execution environments, sustainable price stability mechanisms, user protection via PoGSD) catered specifically to cryptocurrency payment, while leveraging proven blockchain technology structural design elements.