Zoksh Is Revolutionizing the Web3 Payments With Its Web3 Payments Infrastructure Layer
Web3 payments aim to transform the internet and how it operates completely. Web3’s ambitions extend to how we send and receive money.
You’re probably familiar with yourself. However, purchasing items online or sending money to friends can be time-consuming and difficult, with far too many hoops.
Web3 is a set of proposals for reforming the internet to make it more democratic and accessible. It aims to counter the power wielded by a few large technology companies and their infrastructure by utilizing blockchain as an efficient means of running the internet.
All information and data would be stored decentralized, and all processes would be validated by the decentralized network rather than private companies. In addition, currency and information would be sent without needing a third party.
Why Is Web3 the Future of Payments?
Web3 payments enable money to be exchanged without centralized intermediary companies, which aligns with the concepts of privacy and democratization. Money can be transferred quickly, easily, and anonymously. The exchange is peer-to-peer, which means no intermediary is required to complete the payment, eliminating the need for large technology companies’ infrastructure.
Web3 will reduce the red tape associated with finance and money. For example, people can send money without signing up for financial services or permitting companies to access their personal and financial information. In addition, because Web3 data is encrypted, internet buyers can be confident that their personal information is safe and that their transaction details cannot be accessed.
Web3 payments may also increase the number of currencies people can exchange and hold, expanding financial opportunities beyond fiat currencies. In addition, the ability to pay in cryptocurrency or other currencies will make investing and access to the financial system more accessible and universal.
Web3 payments are also much faster because of the lack of bureaucracy. While traditional Web2 payments can take days to settle, blockchain payments are settled in minutes, if not seconds. International transfers are also simplified by a Web3 payment system, which eliminates the need for complex currency conversions and costly remittance fees.
Web3 payments are a type of Decentralized Finance (DeFi). They use secure ledgers to process money transfers and seek to counter the power of large financial institutions such as banks, which frequently charge fees and require data submission in exchange for their services.
Zoksh Is Revolutionizing the Web3 Payments
Zoksh, a non-custodial web3 payment infrastructure layer, is designed to revolutionize the Web3 payments by creating an affordable, easy-to-use and easy-to-deploy payment system which is decentralized, transparent and accessible to all.
Zoksh is developing the Web3 payments infrastructure layer, which will allow projects to access fiat ramps, subscriptions, online payments, and much more through a single integration.
The payment layers provide users with over 1000 currency options on over eight blockchains and multiple fiat currencies with fiat charges as low as $0.25.
Zoksh currently has two products available: Zoksh Ramp and Zoksh Payments.
Zoksh has had an upward trajectory movement since it launched. It was recently named among the six winners of the PolygonLeap Accelerator, a joint accelerator program launched by Polygon in partnership with Lumos Labs in December 2021 to bring more resources to Web3 startups in India.
Despite its youth, Zoksh’s amazing features and benefits have helped it secure important partnership deals with various companies following a successful seed round of funding and the opening of the post-seed round.
Zoksh has also released a fiat ramp aggregator and several on-chain payment solutions.
With a strong team behind it, Zoksh will continue to grow stronger.
In the next 12 months, they plan to add 500+ new clients and partners and launch SDKs, hackathons, and bounties to onboard developers and create an ecosystem of apps built on Zoksh.