Ferrum’s Clever Strategic Product Deployment
In recent times quite some number of blockchain-powered payment products have been created. These products have either aimed at making payment cards that allow crypto transactions for day-to-day usage or have aimed at developing point of sale systems that can support cryptocurrency. These are indeed an incredible ideas but they face a major drawbacks.
The use of cryptocurrency payment cards will experience similar problems faced by traditional cards; the goal of the blockchain technology is to remove the need for middlemen. As for the payment networks, they do not incentivize businesses enough to adopt their products beyond the offer of access to a new market.
Ferrum blockchain network have developed a payment product and are deploying a powerful product strategy.
Ferrum’s Strategic Product delivery
Ferrum is a new blockchain financial and payment network that will allow individuals and businesses to utilise cryptocurrency for their daily payment transactions without incurring costs and chargebacks. In addition, Ferrum has developed Kudi exchange and UniFyre Wallet which will usher a new widescale method for payments.
Of course, the major selling point of Ferrum network is that they have tailored their product for individuals and businesses. Ferrum network of aggregate products will give them access to a massive new market of cryptocurrencies. But the major attraction here is that Ferrum intends to make cryptocurrency payments feasible in daily usage. This potentially makes Ferrum a superior payment product designed for the cryptocurrency market.
Ferrum Network Vs Payment Cards?
Unlike most blockchain startup projects that proposed to offer payment card that will allow use of cryptocurrency for payments but have failed to implements such ideas, Ferrum lives out the true blockchain idea. Ferrum understands that traditional Payment cards such (Visa and MasterCard) rely on slew of intermediaries to process payments and will retain the expensive transactional method that the blockchain movement intends to eliminate. Hence Ferrum is developing its own payment network, the company has created a fiat-crypto exchange called Kudi exchange with a focus on Africa (particularly Nigeria) that can help overcome the problems of fiat to crypto transactions and also to transfer funds and pay bills without the slightest fee.
Ferrum’s plan to develope its own payment protocol that will rival those of existing traditional card networks, is bringing cryptocurrencies to the mass utility in a way that aligns with the core interests of this community. It eliminates all middlemen involved in card networks and it makes way for cheaper transactions with no chargebacks
Ferrum’s UniFyre Wallet
A number of blockchain wallets have been created to be used to facilitate payments on the internet. In theory, these are a good concept as naturally, businesses want access to new markets. But the fact remains that the crypto market, despite being worth hundreds of billions, is split across a massive population. Many small businesses may not see a benefit in utilising an e-wallet system that may only bring them a small volume of additional transaction from their local vicinity.
This is where Ferrum comes into mind —UniFyrewallet is designed to be panacea to existing wallet issues. The wallet is built to be the core of the Ferrum network — the architecture is to be an enforcement of Ferrum’s vision of blockchain interoperability. According to an AMA conducted by CryptoCalibur, Ian Friend, the COO of Ferrum highlights that UniFyre is designed for simplicity and ease as the wallet will let users have all their assets in one account. Read the AMA here
Ferrum has created a wallet dashboard of accounts which will be used to manage asset details and to connect blockchains to blockchains.
Ferrum’s product is designed to target and solve the problems of payment experienced by the community. The Kudi exchange, together with UniFyre wallet and other products by the network will allow Ferrum to offer individuals and businesses lower transaction fees while also removing chargebacks. Also, transactions remain secure thanks to the blockchain. Ferrum’s product strategy has been to create something that every individual and businesses would not only want, but need.
A Tested Approach
Big enterprises and corporations are not usually quick to adopt new products that have a direct impact on every aspect of their operations. And payments are critical to any business. On the other hand, individuals and many smaller businesses are willing to try solutions that will lower their costs. Square Inc. successfully entered the payment markets by targeting small businesses.
Ferrum is following a tested approach by developing a product that will have an instant appeal to ordinary people. Kudi exchange is a product aimed for the people in West Africa. As adoption grows, they can tackle pitches to the larger companies.
ESSENTIAL FERRUM PROJECT LINKS
Kudi exchange: http://kudi.exchange