The World's First Instant Mobile Payments System Using Blockchain-based Central Bank Digital Currency

Barcelona, February 25, 2018
The World's First Instant Mobile Payments System Using Blockchain-based Central Bank Digital Currency

ProgressSoft Corporation pioneers the world's first instant Mobile Payments System that provides immediate transfer of value using blockchain-based Central Bank Digital Currency (CBDC).

The revolutionary ProgressSoft Mobile Payments System provides instant payments using blockchain-enabled Central Bank Digital Currency that requires no reconciliation; no clearing; and no settlement. A new era of mobile payments and settlement has officially been unleashed with ProgressSoft's ground-breaking Mobile Payments and CBDC solutions that facilitate the world's first instant transfer of value using the blockchain-based Central Bank Digital Currency.

Using ProgressSoft's Mobile Payments Platform, PS-mPay, instant real-time payments are now a reality. PS-mPay offers a wide range of payment services using two forms of money- e-money and blockchain-based CBDC. Not only does this advanced PS-mPay feature allow the coexistence of the two forms of money, it also facilitates the migration from traditional e-money to Central Bank Digital Currency with no disruption to the existing eco-system.

The Mobile Payments Platform acts as the frontend of ProgressSoft's CBDC, which is the most advanced form of currency that serves as a practically costless medium of exchange; a secure store of value; and a stable unit of account. It is an advanced, secure form of cryptocurrency built on the most mature form of permissioned distributed ledger technology, and provides currency with technological support and security by design at its core with a one-to-one exchange rate with fiat money.

PS-CBDC provides comprehensive, immutable ledgers of all transactions and movements of money. It offers real-time balance inquiry for PS-CBDC registered wallets and is the superior, transparent tool for implementing nationwide monetary policies more effectively, as well as enforcing business rules through smart contracts. The central bank acts as the sole central authority for PS-CBDC, regulating and issuing certificates for all participant nodes.

This new innovation is only one of many pioneering solutions provided by ProgressSoft Corporation in its journey to bring a new, cashless payments era to the world.