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2023 is predicted by COTI to be the year of private payment networks and widespread adoption of Djed stablecoin


COTI

With the right technology, cryptocurrency can make tremendous inroads in the payment sector. COTI has always positioned itself in that space and aims to build more momentum in 2023 in beyond. Therefore, the team will introduce crucial protocol upgrades and emphasize regulatory compliance. 

Enterprise-grade Payment Solutions Are Key

VIDEO: COTI: Our Plans for 2023 and Beyond
COTI Foundation

Big and small enterprises worldwide can all benefit from alternative payment infrastructure. Payment cards and bank transfers are convenient, but cryptocurrencies and blockchain technology provide a welcome alternative. Although it seems unlikely such solutions will replace traditional payment methods, they can give customers more choices. However, accepting cryptocurrencies remains a tough ordeal, so COTI introduced Private Payment Network (PPN) features.

Through PPN, companies can access custom-branded tokens, wallets, processing gateways, and issuing loyalty tokens, among other benefits. These are all viable tools for new and existing businesses. Moreover, COTI emphasizes regulatory compliance for its products and services. The PPN features are KYC and AML compliant, granting enterprises access to a turnkey solution. 

In addition, COTI wants to become a multi-token network. That will lead to upgrades for its Treasury – and introducing support for additional tokens – and an upgrade of its DAG. With its flexible scalability and minimal fees, the technology stack will receive key upgrades. It will become compatible with other Layer-1 blockchains and gain smart contract functionality. Those upgrades will help solidify COTI’s position in the [enterprise] payments space.

In the blog post, the team explains how COTI will enter its “V2” era. It will remain a payment-focused network, although it will gain the ability to accommodate other use cases. In addition, every facet will be regulatory compliant, as the team expects compliance to become a more significant factor in 2023 and beyond. Having that compliance-ready nature at the protocol level will give builders more time and resources to build powerful applications, products, and services. 

Big Plans for the Djed Stablecoin

VIDEO: Djed Stablecoin Explained
COTI Foundation

Stablecoins have become the de facto currency in cryptocurrency circles, replacing US Dollars and other fiat currencies. These pegged currencies represent a combined market cap of over $150 billion and can be exchanged for all major crypto assets. 

COTI has issued DJED, a native overcollateralized stablecoin, on the Cardano blockchain. However, it has not become the go-to stablecoin among Cardano enthusiasts despite having several partners who integrate the currency. 

The team intends to push the narrative for Djed through more partnerships. In addition, the stablecoin will receive various technical upgrades throughout 2023, including staking support. COTI’s entire ecosystem will benefit from Djed’s growth, both in recognition and operating fees being added to COTI’s Treasury Reserve Fund. 

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