A partnership with Apollo Group Fintech brings economic blockchain solutions, such as CBDCs, to the Pacific.
Ngerulmud, Palau, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Blockchain companies Sovereign Union and Apollo Fintech are announcing a new partnership to bid and acquire blockchain-related government contracts across 26 Pacific island countries. The initiative includes pilot programs in Palau and Micronesia. The companies’ proposed ledger applications include the National Payment Platform for the issuance of Central Bank Digital Currencies (CBDC) and the Apollo Group E-Government Platform. In an effort to transition Pacific-area territories and their largely unbanked population towards an efficient, cashless economy.
Last month, Apollo Group Fintech announced the completion of its National Payment Platform (NPP), an innovative settlement system that enables a central bank to issue a sovereign, digital currency (stablecoin) for national adoption. This is a pivotal technology that has the potential to power an economy through the use of CBDCs, Pacific governments are exploring ways to exercise rights as an independent jurisdiction and issue a sovereign electronic currency.
“This exciting partnership brings communities in the Pacific the ability to utilize a cashless economy without the traditional barriers of ePayments, allowing any nation to take part in the cashless revolution,” says Sovereign Union founder Tridib Nandy. “Frictionless commerce via digital stablecoins will empower economies across the Pacific to create new prosperity and to achieve a better economic future.”
Bringing CBDCs to Pacific Nations
Since 2018, Sovereign Union has established relationships and educated Pacific-area governments about public ledger technologies, including Central Bank Digital Currencies (CBDC) that utilize the power of electronic and ledger-secured payments that achieve massive efficiencies at scale.
Features of the partnership:
Bring plug-and-play blockchain solutions to current connections for an independent territory to issue a sovereign digital currency or CBDC.
Most pacific nations use physical U.S. dollars for daily settlements and without access to modern infrastructure or banking systems. Thus, national authorities are conducting extensive studies on CBDCs as a way to bring financial inclusion to under-banked communities, and pave a way to create their own sovereign currency, all while moving towards a cashless society. Officials are engaging in talks with Sovereign Union, as well as formally investigating blockchain technologies to facilitate ledger-run settlements in order to scale their economy.
Apollo Group Fintech:
Apollo Group Fintech is a leading blockchain innovator that develops world-shaping fintech solutions for a global economy. The company has offices in Africa and North America with plans to expand in Asia, Europe, and Latin America. Apollo Group Fintech is becoming a global leader in government blockchain solutions, as well as a pioneer of international mass adoption.
For updates, visit Sovereign Union:
Sovereign Union is establishing e-government solutions in over 25 countries in the Pacific. The leadership team includes blockchain experts and offers customized civil solutions that enable governments to run a fully-functioning, secure digital nation. These public ledger solutions are aimed towards independent nations seeking to drastically increase efficiency and control over their economy.
Contacts:
Website: sunion.io
Email: Tridib@sunion.io
Phone: +91 88008 40363
Country of Source: Ngerulmud, Palau
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