What is a Blockchain?
"A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party." Investopedia https://www.investopedia.com/terms/b/blockchain.asp
How SMS-iT makes Smart Omnichannel Messaging Possible in the Blockchain!
Smart Contracts
Smart contracts are self-executing, self-enforcing contracts. They are governed by the explicit terms and conditions laid out within them. These virtual agreements can facilitate the exchange of money, content, shares, property, or anything of value.
Use our API to automatically trigger and send messages as alerts, confirmations, receipts, etc, whenever a smart contract executes.
Non-Fungible Tokens (NFT)
NFT’s can be embedded within smart contracts. A smart contract can own an NFT within it which is then transferred to a user or another contract based on the rules and events defined in the smart contract, where our API can be used to create a rule for messaging eg for receipts, payment confirmations, etc.
Smart contracts can be embedded in an NFT to call and access assets within the NFT. For example, a user can access a song which is embedded in an NFT through a smart contract. They would agree upon the terms using the smart contract, pay the agreed upon amount, receive a text, voice or fax message receipt and then get access to that song.
KYC & AML Compliance
Blockchain is an inconceivably secure and exact approach to store individual information which is utilized for KYC and AML consistence.
A client could make one "block" in the blockchain by entering the majority of his or her own data, which is required for KYC and AML compliance.
Afterward this information would then be encoded and stored on the Blockchain. The individual would be given a password securely by majorly called as a pass phrase, or private key which must be entered keeping in mind to see the data.
Finally by using our API, the individual would then receive a confirmation receipt via SMS, MMS, RCS, voice or fax messaging, which must be confirmed to verify the identity of the individual.
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