Blockchain Mainstream Adoption: Terra Network Powers CHAI App To Allow Online Payments Via Blockchain
The Terra company has offices in Singapore and Korea and is working on designing a digital currency with a stable price that willpower the next-gen payment network on the blockchain.
The firm has been teaming up with global e-Commerce platforms to bring blockchain advantages closer to merchants and consumers, especially low transaction costs.
Linking the crypto space to real-world uses
Terra aims to bridge the gap between crypto and real-world, and the main focus is to become an open platform for innovative financial dApps.
The blockchain and crypto industry has been striving for mainstream adoption for a while and this year there have been a lot of achievements that are taking the space in the right direction.
Terra is the evidence that shows how great UX design and flawless infrastructure can penetrate a mainstream market and take the blockchain industry to the very next level.
Terra powers mobile payments app CHAI
This application called CHAI allows all people who own a bank account to pay online via the blockchain.
This payments app is promoting mass adoption of Terra’s blockchain tech by the customers of Korea’s most prominent platforms.
Just a month passed since CHAI has been launched and the app already managed to become the 4th most popular finance app on the AppStore, and the 13th most popular on Google Play, according to official notes.
The app also managed to gain more than 240,000 users who have accomplished 380,000 transactions.
“We are proud to be bringing blockchain into people’s daily lives. Just 40 days after launching, Terra’s blockchain technology has been used to power 380,000 transactions for more than 240,000 users. In fact, the other day, we saw a record-high daily transaction volume of 1 billion KRW, which implies a $300 million transaction volume run rate,” according to Daniel Shin, Co-Founder of Terra.
He also addressed the fact that Terra is strongly supporting the adoption of the blockchain technology, and they are helping it penetrate the mainstream market.
The main goal is that Terra, together with its partners, become a considerable force that drives the mainstream adoption of blockchain.
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