Today, at the height of the evolution of financial technology, people are using credit cards and legal tender less and less. With an array of options like Venmo, PayPal, Zelle, cryptocurrency and even digital wallet services like Apple Pay for live in-person transactions, the use of digital finance has only begun to peak. Still, with these developments, the organization for these financial technology services is little to none. Despite endless mediums for transacting finances digitally, the need for an all-inclusive solution is obvious.
Now in the next stage of financial technology’s evolution comes the opportunity to simplify how transactions are made. In light of this new demand comes Digital Names, a budding fintech company that has created a “one-stop shop” solution for digital wallet transactions. At this critical turning point, the Digital Names solution essentially provides people with their own “digital name” that encompasses how all transactions are handled, therefore eliminating the use for the multitude of portals like Venmo, PayPal, etc.
So instead of having to utilize a different digital wallet service per each particular type of transaction, Digital Names introduces the opportunity to create one “digital name” or “key,” as they call it, per person. For example, one’s key might look like “$janedoe” and will function as the name and identity that Jane Doe uses to send and receive from when digitally transacting. Whereas, when using Venmo, Apple Pay, or one of the many digital wallet services, users must create a new profile per each service and even then, the type of payment that merchants and vendors accept of all of these varies greatly.
Developed by digital securities trailblazer Thomas Carter and his firm Deal Box along with internet legend Frank Corsi and his company Total Network Services, Digital Names additionally promotes the benefit of secure transacting with its appeal of an all-encompassing platform for digital finances. In a world where one’s personal financial information is sold, traded and continuously at risk, Digital Names provides the asset of ultimate safety in today’s current internet model.
Finance guru George Gilder who’s known for preaching the imminence of the dot.com boom recently spoke to Forbes specifically about the necessity for secure financial technology.
“A totally insecure Internet is being addressed globally by the movement toward blockchain: distributed security, a “layer-eight” new security architecture for the Internet,” says Gilder. “A Blockstack to replace the increasingly perforated Internet stack. So, yes, I think that the foundations for an era of very rapid growth exist.”
With backing from leading financial systems, Digital Names sets out to blaze the trail of digital finance with its key solution, making meteoric strides for the industry.
Wednesday, April 1, 2020