I’m much more confident with crypto than with banks or fiat currency because I can actually control it, and the money supply is transparent, stated up front. It makes online shopping a lot easier and a lot safer.
Fiat currency, which exists in physical form, is a centralized tool for value transaction by a central bank and government agencies.
Digital transaction is a digital payment or electronic payment which transfers a fiat currency value from one payment account to another using a digital device or channel. Digital payment modes considered are BHIM-UPI, IMPS, NACH, AePS, NETC, debit cards, credit cards, NEFT, RTGS, PPI and others.
Digital currency is any currency, money, or money-like asset of any country that is primarily managed, stored or exchanged on digital computer systems, especially over the internet.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
A central bank digital currency is a digital currency that is issued and overseen by a country’s central bank. More than 100 countries are exploring CBDCs at one level or another, according to the IMF. But as of 2022, only a handful of countries and territories have CBDC or have concrete plans to issue them.
Some places CBDC is already available include the Central Bank of The Bahamas (Sand Dollar), the Eastern Caribbean Central Bank (DCash), the Central Bank of Nigeria (e-Naira) and the Bank of Jamaica (JamDex), to name just a few.
There are two approaches to differentiating between coins and tokens. Coins are native to their blockchains. Tokens are created on existing blockchains.
A meme coin is a cryptocurrency term for popular currencies, sometimes depicted with comical or animated memes, that are supported by enthusiastic online traders and followers. While meme coins may be fun, they are also highly risky investments and may hold little or no intrinsic value.
The Digital currency (CBDC) is a centralized currency which is issued, controlled and regulated by any one of the sovereign governments. It acts as the legal tender of the particular government and limited only to its own territory.
But in the case of cryptocurrency it is a decentralized currency but not limited not only to any territory but the internet is its ultimate extension. Hence it flows across irrespectively countries wherever ever business regime extends.
Eventually, the sovereign countries will be using their own digital currency (CBDC) for transactions instead of fiat currencies. On the other hand every business institution and other organizations will be using their decentralized currency called cryptocurrency.
Tata Coins are used by Tata Neu company. Rapido, the bike taxi company that uses Rapido Coins and ‘Fresh to Home’ concern introduced Fresh Cash for their transactions. Furthermore, Flipkart has introduced Super Coins, however an authentic message about their respective coins ar much awaited from the respective companies.
It was made as an utility token under Binance Smart Chain. As expected Zaka is used for the transaction purposes of Bizaka Business Regime and initially for Webbazar.
Webbazar is the prime Web-3 project of Bizaka, which is a Online P2P Marketplace for regional native, authentic and fresh products. DawnFish has been enrolled as the very first vendor of Webbazar, which sells Fresh & Authentic Sea Fish to Kanyakumari customers initially.
What is important or special here is that the coin used for every transaction of Webbazar is Zaka Coins, which works on Blockchain technology. However, the new technology which improves the current scenario has been misinterpreted so far. A digital currency or a cryptocurrency is the backbone of blockchain technology and Web-3 technology. Hence the Bizaka Business Regime plans to use Zaka Coins for its every transaction instead of a fiat currency or a digital payment.
Bizaka initiated Zaka coins with the cooperation of 67 closely associated community members. However Bizaka would like to expand the community and the businesses worldwide. In order to meet the expenses of business expansion “Four Step Strategy” by using Webbazar is used. Such steps help for a better introduction of Zaka Coins to the customers of Webbazar and DawnFish initially. And subsequently it will get extended to the coin holders worldwide.
Such steps will increase the Zaka Coins transaction within the regime of Webbazar and DawnFish. And gradually the demands of the coins get increased and Zaka coin holders fetch better returns.
Webbazar / DawnFish Apps are required to be installed by many more customers. How?
Note: It is to maximize the App installation which in turn exposes the accurate customer count to the world.
DawnFish wants Zaka coins to be in many more DApp wallets.
Note: It reveals to the crypto-holders that many wallets are holding Zaka Coins and receive Zaka frequently.
This is the stage where the customers make online purchases, using the DawnFish App. But the mode of payment still remains COD/ UPI payment. But DawnFish wishes its customers to make the payment via Zaka Coins. How?
Note: Finally, Zaka transactions had started
Now DawnFish insists the customers buy Zaka from the exchanges and make purchases via Zaka.
Note: Therefore, the community members of Bizaka, Zaka Coins stakers and other Zaka Coins holders get better return by their Zaka investment.