PumaPay has become a Founding Member of the University of Nicosia’s Institute For the Future (IFF) for Advancing Blockchain Research and Development.
Blockchain technology is widely regarded as the fourth industrial revolution. The technology, with its attributes of efficiency, low cost of operation, always online concept and security, has certainly made its mark. This is the reason decentralized platforms like PumaPay are actively developing infrastructure that will make this technology applicable in everyday life.
The Cyprus based platform overcomes one major issue that has seen many institutes not accepting the technology, even though it offers many benefits. Using its PullPayment Protocol, the platform allows any organization to create a pull payment system, in which regular payments from the client are done automatically, like subscriptions and other regular payments.
Education Through IFF
The Institute For the Future (IFF) is a multi-disciplinary centre dedicated for the research and expansion of blockchain and artificial intelligence. The institute intends to push the adoption and integrating of the technologies into industrial, agricultural, governmental and educational fields.
PumaPay is a founding member of the IFF and is effectively working with the University of Nicosia. The IFF is placed in the university campus. With the educational institute one of the pioneering organizations that are offering credited major courses in blockchain technology. This places the university in a unique position in terms of promotion of decentralized ledger technology and thus the IFF is logically placed on it. The partnership of PumaPay and University of Nicosia is developing IFF fine tuned to this affect.
“Blockchain technology holds great promise for the future – not just in payments, but in nearly every sphere of our life. As we develop our innovative payment solution, in the way that has never been done before, we consult with the brightest minds and latest research of this new industry.” Yoav Dror, the CEO of PumaPay said about the academic venture, “We see ourselves as a bridge between the academic research and real-world practical application of the blockchain technology as we develop our payment solution”
On the other side, George Gialis, Director of IFF at the University of Nicosia, said about PumaPay joining the institute, “We are excited to welcome PumaPay as a Founding Member of the Institute For the Future. As IFF aspires to become a leading source of research and technology development at the intersection of exponential technologies, including blockchain, it is essential to bring together both large corporations and innovative start-ups working on these technologies.” He further said, “We expect PumaPay’s expertise in blockchain-based payment protocols, coupled with the know-how of our other corporate and academic members, to contribute significantly to realizing IFF’s vision.”
PumaPay becoming a founding member of IFF means that it can take part in the cutting edge development of the technology, educational and industrial.
An open source, free of charge blockchain ecosystem, PumaPay overcomes a major hindrance in the decentralized technology that stops it from being used in regular subscription services. The way the technology is designed, only token holders have the power and right to send their funds to other wallets.
For activities where regular subscription model is used, blockchain’s secure technology effectively stops the possibility of a “pull” payment. PumaPay creates a secure environment where this is possible. The flexible and holistic protocol that allows users to create a transaction process that uses the similar billing and subscription method fiat based financial transactions use. With its PullPayment Protocol, PumaPay redefines payment system in the blockchain technology. The platform and its ecosystem has already attracted major brands around the world, such as website hosting Wix, Fashion TV, Rent24 and many others.
A research institute placed within the campus of University of Nicosia, the establishment has been founded to look into the technological advancement and its affect on the global society as a whole in the coming years. One of the technologies that the institute is particularly focusing on is decentralized ledger ones such as blockchain. With this and other technologies such as artificial intelligence, internet of things, virtual and augmented reality and autonomy expected to enter into commercial use in the next 2 or three years, each of these is expected to disrupt the way current setups and even how the society interacts and works.
The IFF is aiming to study and push for developing human resources to work on these, along with policy making and other legal issues to ensure that the disruptive technologies are embraced, rather then being rejected.
About University of Nicosia
The University of Nicosia is a pioneer and one the world’s first institute that offers major programs with blockchain at its centre. It has the world’s only Master of Science degree in Digital Currency and is actively advancing academic studies and real-life application development.