Makecents Launches Distrubted Ledger Platform For Payments

Makecents Launches Distributed Ledger Platform for Payments

MakeCents is a New York-based startup focused on developing a new and scalable distributed blockchain solution for simple and stable payments. It recently announced that it has launched the testnet of its decentralized platform.

MakeCents wants to use the distributed ledger technology to connect businesses, financial institutions and consumers on a decentralized platform so that transactions and trading are easier, more efficient, secure and transparent. This will all be done at a fraction of the cost of traditional payment methods.

The first step towards MakeCents blockchain network is a simple and easy to use a digital wallet that differentiates itself from other similar mobile platforms by incorporating cash transactions in the payment process.

It also wants to develop a solution that allows merchants to process payments in a cost-effective way and at the same time improving the speed of checkout lines, streamlining the cash-handling operations and being the pioneer in creating a solution for targeted marketing and promotion that doesn’t compromise the privacy of customers.

Specifically for financial institutions, they want to eliminate multiple ledger management and provide enterprise-grade smart contracts for faster settlements.

The MakeCents team consists of a distributed system and security engineer, blockchain specialists, application developers and fintech strategics. They recently entered into working beta partnerships for future integration with Seabra Foods, a grocery chain with 14 locations across states like New Jersey, Rhode Island and Florida. Furthermore, MakeCents is in discussion with a lot of fast food chain restaurants for early beta partnerships.

The company has also formed a veteran advisory board for help on these matters. This board consists of people who are leading technology, retail and business professionals like Mark Walsh, Tom Burgess and Robert Dahlberg.

MakeCents also recently graduated from the DCU FinTech Innovation Center,  a non-profit that helps seed-stage fintech startups and promotes the fintech ecosystem.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.