Elrond Network has announced that it will launch digital wallet and global payments app Maiar on 31 January 2021.
The digital wallet app will be available for for iOS and Android devices and is said to provide financial services such as payments, investments, and passive earning.
The difference between Maiar and other similar apps is that it doesn’t require complex passwords or difficult other sign-up procedures. Instead, Maiar creates a unique and secure account on the Elrond blockchain using a cryptographic hash of the user’s phone number, without the phone number leaving the device.
Consumers will also be encouraged to to strengthen security, add a pin, biometric authentication, and encrypted backups.
What it boils down to is that Elrond claims that Maiar will be able to offer a decentralised alternative to the services provided by PayPal, Venmo, Revolut, and Google Pay without collecting any personal information, and charging negligible fixed fees instead of a percentage of the transacted value.
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