Artos Systems is a London-based, enterprise-grade SaaS company at the forefront of cutting-edge technology. With their proprietary technology ecosystem, they act as the Bridge to Blockchain®. They are an industry-leaders in advanced cryptographic and distributed system applications, including mobile-based implementations. Now they are working together to implement Blockchain technology across Enigmatic Smile’s cashbackAPP Platforms.
The kick-off location of the implementation is in Africa, where cashbackAPP’s rewards ecosystem already involves Top Tier banks, popular merchants, and not least, the largest mobile-money transfer service in Zimbabwe (Ecocash), which has over 9 million customers.
The partnership will leverage Artos Systems’ market-leading tier two blockchain scaling technology to record and settle Vow rewards-based transactions on Ethereum. This technology integration provides new, unrivalled capabilities, which enable a more comprehensive and transparent way of processing value transfer. It is anticipated that this implementation will generate significant efficiency gains in financial settlements of customer rewards in Africa and beyond.
Africa has a huge underbanked population. By enabling rewards to be earned by the customer when bank cards or mobile wallets are used, there is an incentive to switch from cash to digital payments.
Using Artos Systems’ tier two scaling technology to handle its reward transactions and Vow’s powerful economic model to decentralize its reward currency, cashbackAPP will be able to offer more rewards, in a simpler way, to all ecosystem participants. Ultimately, this will serve the underbanked population and stimulate economic growth.
“This is not only a major step towards the adoption of blockchain technology as it showcases a use-case that is simply unachievable with other technologies – especially in a territory that is this demanding. It will also be a big leap for cashbackAPP in Africa. Finally, in the long term, we also expect to have a significant contribution in lowering the underbanked population in Africa by incentivising digital form of payments through pure innovation”, say Alan Vey and Annika Monari, Co-Founders of Artos Systems.
Kim Hodgson, CEO of the African Region for cashbackAPP, as well as Head of Business Development at Vow said, “After over year of development and testing with Artos Systems, our applications are expected to go live in Q1 2021. It will be the first large-scale commercial enterprise-grade application of blockchain technology in Africa that successfully showcases its unique benefits compared with traditional technological and financial systems.”
“The effective implementation will translate to mass customer adoption, with our merchants soon being able to easily accept digital assets as payment for goods and services. The full impact and utility of what we are building internationally extends well beyond what we can divulge for now, but it is groundbreaking and set to change the landscape significantly”, he added.