Clear Chain Travel announces a new Distributed Ledger Technology provider
Clear Chain Travel (CCT) is migrating its fintech payment platform to the Digital Currency Monetary Authority’s (DCMA) state-of-the art multi-ledger Distributed Ledger Technology service (mDLT) to accelerate its ability to support the full range of banking activities required to service travel companies’ financial needs and move into the exploding technology evolution of Web 3.0.
The mDLT is a revolutionary technology that manages asset and liability banking ledgers, including escrow activity, beyond just the assets or cash activity that all other blockchains are limited to supporting. By implementing the DCMA’s platform, CCT will be also able to seamlessly apply the global financial industry’s regulatory best practices in KYC/AML, privacy, and security to travel payments including digital and cryptocurrencies.
Utilizing the mDLT will allow CCT’s clients to build full-service digital banking solutions completely on digital currency rails. Clients’ customers and partners will be able to streamline purchases and reduce transaction costs with digital currency payments. Traditional FX arbitrage is embedded in the mDLT via the DCMA’s basket of national currencies, with optimal exchange rates that are updated programmatically via the mDLT’s artificial intelligence programs.
DCMA’s native cryptocurrency Unicoin (unicoin.dcma.io) is backed by liquidity from central banks, regulated fintech companies, and chartered banks. Because it’s backed by actual monetary liquidity and not algorithms, Unicoin is the only cryptocurrency that offers 3 Store of Value levels: Fixed (stablecoins), Income-producing (DeFi), and Speculative (floating value via traditional crypto exchanges). Qualifying travel companies can become Financial Service Providers on the Unicoin network, able to govern, issue, and mint their own cryptocurrencies in a decentralized model.
Integration with DCMA’s mDLT will also allow CCT to move into Web 3.0’s decentralized protocols and networks and the new business models they support. Non-fungible Tokens (NFTs) are an area of great opportunity for the travel industry for things such as health-related documentation, digital images and other collectibles from one-time experiences, and bespoke rewards for loyalty and club members. During the 2nd half of 2022, CCT will begin to offer services for the creation and management of NFTs according to customer demand and the evolution of travel industry business models.
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