Johannesburg blockchain project and trading platform TERRA has been making headway via 8 products designed specifically for emerging markets like Nigeria. These 8 products are complementary to TERRA’s main offering, the decentralized cryptocurrency CREDIT.
Product Line Up
The products — MiniPOS, Terra.Credit, Terra Hub, The Tellus Ecosystem, Terra Mart, Terra Wallet, TerraceX, and Terra Dax — are all supporting services for the CREDIT cryptocurrency.
They help grow the most common use cases of a currency – staking, trading, sending/receiving, marketing, and using it to purchase goods and services.
The first is MiniPOS, a web-based CREDIT staking wallet that replaces the high hardware requirements of POW for securing the blockchain. This allows anyone to participate in staking on even a smartphone with an internet connection and allows people to make hourly income at a rate of 100% profit per annum.
There is also a full-featured wallet called Terra Wallet, which is a web and app-based wallet under development. This is different from the staking wallet as this will allow users to access their holdings from a smartphone and send and receive CREDIT.
To complement this, of course, is a blockchain explorer and public ledger called Terra.Credit, allowing anyone to confirm transactions are sent anonymously.
Expanding further outward is support for CREDIT merchants through the Tellus Ecosystem which consists of Tellus-pay and Tellus-merchant. This works with MiniPOS in order to stake Credit, but as well as to support Fiat and other crypto as well.
When merchants integrate with Tellus physically or digitally they are able to accept instant payments with no fees or commission. Currently, Naira and Rand are the only two supported fiat currencies.
Logically, the next step from there would be a way for merchants to easily list good and services online, which is what the next product, Terra Mart, enables. Akin to a crypto Shopify, previously unbanked merchants will be able to open their products and services to a wider customer base.
The last two sections would be marketing and trading. Marketing is handled by a 250,000 user strong social network called Terra Hub which monetizes actions that help spread the word of CREDIT.
Trading is addressed from TerraceX, a South African crypto exchange platform that offers spot and stop/loss trading, as well as a generous referral program that pays for 100% of trading fees for referral users. Combined with this is Terra Dax, a native trading app that will connect to exchanges via API, and allow CREDIT traders to manage all of their positions from one dashboard.
How To Make a Truly Global Cryptocurrency
While many cryptocurrencies talk about how accessible their coin or token is, and how literally anyone could use it, not many are backing up these well-sounding words with actions. The majority of major cryptocurrencies simply have too high of a hardware requirement to run a node, or don’t have applications able to run on low-power smartphones.
The unbanked accounts for about 2 billion, or about 26% of the world’s total population. While most of them have a smartphone, they don’t have a bank account necessarily. This means there is around a trillion USD (or more) of potential trade revenue untapped.
CREDIT is different; however, offering wallets on not only Windows, Mac, Android, but also even Linux and even Raspbian.
Dan Ronchese, Founder of The Terra Foundation and creator of the Credit (CREDIT) cryptocurrency, takes this philosophy when it comes to deciding the direction of the unbanked:
“The only way a cryptocurrency can become a global payment system is if everyone who makes payments has access to it”
Credit will work hard to expand their services, with TerraceX currently offered in 5 countries and Colombia to be added to this list in a few weeks.