Unit-e is a blockchain-based cryptocurrency project to create a borderless banking network that can compete with VisaNet. Supported by universities like MIT, Stanford and Berkeley, it is
expected for the second half of 2019.
Solving the scalability and performance issues of the blockchain to reassure investors and customers is the goal of Unit-e, a cryptocurrency application whose payment system is based on the blockchain.
Presented in Davos and launched in the second half of this year, this project could directly compete with traditional financial networks such as VisaNet from Visa in terms of transactional capacity. We thus evoke a number between 5,000 and 10,000 transactions per second! By comparison, Visa’s networks process on average about 1,700 transactions per second.
Create an online payment network
Behind this project is the DTR Foundation (Distributed Technology Research), a Swiss non-profit organization, and its ambition to create a non-centralized and scalable banking network is supported by seven prestigious universities, including the Massachusetts Institute of Technology ( MIT), Stanford University or the University of California at Berkeley.
Their work aims to take advantage of blockchain and cryptocurrency to create an online payment network that combines performance, privacy and scalability. For this foundation, Unit-e could be as revolutionary as the arrival of email decades ago.
Photo credit © Shutterstock
