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We plan to launch a Blockchain-secured OCB LIFE Payment Card in quarter 3 of 2021. This new-generation payment card will be integrated with the OCB Wallet, which will allow users to transfer funds in multiple fiat or crypto currencies, and make electronic payments and withdraw cash worldwide — simply by scanning a blockchain-secured QR code on the card. With that, the user can make electronic payments physically or online, or withdraw money from ATM machines anywhere in the world where a Debit card or ATM card is accepted.
Blockchain 1.0 is the technology behind Bitcoin, which debuted in 2017, and ushered in the era of cryptocurrency. It has been the breakthrough technology — with immutable record, distributed ledger, and validation by individuals in the network. In 2015, Ethereum blockchain 2.0 introduced the Smart Contract 1.0 — a fully automated “computer program” executing a set of predefined conditions. It creates a diverse ecosystem of blockchain applications beyond cryptocurrency. Its smart contracts drastically eliminate intermediary authentication, reduce operational costs, fight fraud, and increase transparency.