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Parts of this article first appeared at Fuse and can be found here
Bitazza started life as a centralized cryptocurrency exchange in Thailand but sets its sites as a gateway for crypto adoption in South East Asia and beyond, especially for retail and Web3 payments. The centerpiece of the Bitazza value proposition is their Freedom wallet, a mobile wallet running on Fuse Network, built using Charge’s API.
Starting with a successful Proof of Concept at the Mystic Valley Music Festival, Bitazza was one of Fuse’s earliest partners, and the collaboration has expanded over time. Bitazza uses Charge and the Fuse Network blockchain to enable partner businesses to launch and manage token communities for their use cases and onboard users via Freedom Wallet, which uses Fuse’s wallet technology.
What is Fuse?
Fuse is a decentralized EVM-compatible public blockchain focused on building the most business- and consumer-friendly platform and ecosystem for mainstream adoption of Web3 payments. The Fuse Network blockchain is designed to ensure fast block confirmation times and low cost of transactions. The average block interval on Fuse is approximately 5 seconds, and currently costs less than 1 cent per confirmed transaction.
Asides from its blockchain, the Fuse ecosystem is also comprised of Fuse Charge, an easy to use universal payment infrastructure that makes Crypto and Fiat payments seamless of businesses through plug-and-play APIs and SDK and Fuse Cash, its user-friendly, consumer facing mobile wallet
FUSE is the native utility token of the Fuse network blockchain and is used for transaction fees, maintaining security through Fuse’s delegated proof-of-stake consensus mechanism, to participate in governance, and other DeFi features.
Business adoption is coming
Accepting payments is a complex and expensive process for many small to medium-sized businesses and communities. Moreover, a high barrier of entry for companies accessing digital payments is restricting global trade and innovation.
Bitazza is aggressively targeting those businesses that need Web3 payments to increase efficiency but lack the technical knowledge to benefit. Fuse believes that mass adoption of crypto payments will be jump-started by the longtail of business rather than by everyday people using on-chain services.
These real-world examples show how Fuse technology, coupled with Bitazza’s aggressive onboarding of small to medium businesses in South East Asia, can pave the way to adoption.
One of Thailand’s leading music festivals implemented a blockchain-based cashless payment system for the first time. Instead of cash, festival-goers could make payments using a specific cryptocurrency token minted by Mystic Valley. The contactless payment system, which used existing mobile devices, dealt with all the financial transactions on-site, including payments made to food and drinks vendors and merchandisers.
Along the same lines, EPIC Entertainment, a prolific electronic music promoter in Thailand, utilized Bitazza’s Freedom Wallet to throw a pool party that generated over 600 wallets and more than 500 transactions with the custom EPIC token.
Further applications came recently with World Cup Betting via the Freedom Cup, where around 400 participants made NFT-powered predictions for the FIFA 2022 Word Cup matches. In addition, tourists to Thailand and locals that use the Raja Ferry, one of the leading providers of ferry services in Thailand, with 13 vessels traveling between the popular destinations of Donsak, Koh Samui, and Koh Phangan, can use the Freedom Wallet, and RAJA token for payments.
Fuse + Bitazza = Adoption
Bitazza is Fuse’s key partner and integrator in the South East Asian region, a part of the world with more than 326 million smartphone users. Adoption via smartphones and mobile devices is critical and can be considered the holy grail in Web3.
Bitazza uses Charge and the Fuse Network blockchain to build its flagship products and enable businesses to launch and manage token environments for their specific needs and onboard users via the Freedom Wallet, which utilizes Fuse’s wallet technology.
Additionally, Bitazza has recently listed the FUSE token on its exchange Bitazza Global with several trading pairs, including FUSE/USDT, and FUSE/THB.
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