The Tectum team announced SoftNote, a fintech product that grafted blockchain technology onto the existing ‘cash currency’. It transcends the issues that currently plague mainstream adoption of cryptocurrencies, especially when it comes to retail. With Soft Note, tektum We plan to merge cryptocurrencies and paper money in a way that allows for no-transaction payments while maintaining a physical ‘cash’ medium below the blockchain’s trust layer.
This fintech product is to reduce transaction costs to zero. Using superconducting digital environment technology, SoftNote can eliminate fees, delays, and near-zero transaction costs for infinite terminal performance.
Why use SoftNote?
One thing to note about SoftNote is that this is a fintech play, not a blockchain play. Products serve as frictionless value transfers and are by no means money or currencies. Rather, it helps transport value, in this case ‘money’.
It still resembles banknotes in the fact that it is still basically a value printed on paper. It also does not require verification on the blockchain, has no value or has no geographic boundaries. but that way soft note Interacting with money can be compared to having a letter of credit and a bag of money.
Instead of carrying a bag full of cash, you can only carry a letter of credit for payment. However, one important difference between the two is that SoftNote does not require the holder to claim the issuer’s cash. The values are already included in SoftNote itself and can be used directly for bill settlement.
How SoftNote Works
What Softnote provides is that it replaces ‘transaction’ with the ‘delivery’ procedure, allowing you to conveniently pay with ‘cash’ with the safety of the blockchain. SoftNote invoices are backed by Bitcoin and USDT, where the serial number and amount are specified in the note as a store of value. Example: $1, $2, $10, etc.
This transfer process reports the SoftNote being transferred from one party to another, and the receiving party can check the network (Bitcoin) explorer to check the Store of Value balance.
SoftNote also offers users more anonymity compared to Bitcoin. BTC transactions can be easily tracked by public address. However, SoftNote’s “handover” provides another layer of anonymity because it is not registered with the underlying network ledger and therefore cannot be traced to its origin.
Advantages of soft notes
SoftNote is a new technology that aims to make life easier for blockchain users. Both parties do not need to be connected to the blockchain, all they need is a receiver. This allows the recipient to verify that the SoftNote is actually storing the value and transferring the valid value.
It also offers instant payment processing, which is difficult to grasp in cryptocurrencies. Payments are considered as fast as the receiving party can verify and unlock the SoftNote. So, if you confirm the note at the time of receipt, your payment will be made immediately.
SoftNote also doesn’t have issues like network independence and isolation. It is not hampered by the problems that continue to plague both industries as it does not work with traditional banking and crypto systems. Payment can be made using any device that can transfer files in cross-device mode or photo format.
Users can also earn money in the Tectum ecosystem. it’s recently Reached soft cap of 2.5 million TET tokens sold for $1.. We are now starting the second phase, with 500,000 TET tokens sold for $2, giving investors a unique opportunity to invest early and earn money.
“The support from the community has been great and we will be releasing more project updates soon.” Tectum CEO Alex Guseff said: “This is good news not only for us, but for everyone involved in our community.”
Tectum is a Chicago-based software development company that leverages decades of combined experience to produce software platforms focused on quality, cost-effectiveness and customer-centric products. It has provided a platform across a variety of areas such as blockchain and distributed ledgers, cryptocurrencies, secure messaging, user authentication, and more. We serve a wide range of clients, from government agencies to private clients. Tectum is dedicated to producing unique solutions to the most complex problems.