Through continuous research and analysis, the N2 Group has developed a platform that serves as a multi-purpose solution for banks, the N2 Platform. It resolves all the inefficiencies faced by financial institutions and their users.
The N2 Platform aims to entrust optimal convenience in availing banking and crypto-based services on a single platform that integrates ground-breaking features and offers splendid benefits to financial industries and individuals.
The ultimate objective of the N2 Platform is to achieve a win-win situation, where both the financial institutions and it’s users are benefited.
Now, let us deep dive and scrutinize the perks gained by banks while adopting the N2 Platform.
Perks of utilizing the N2 Platform:
Blockchain technology is one of the pioneering technologies that records all the transactions and stores them on digital blocks. It is also termed as an immutable ledger because the information once recorded in the blockchain cannot be tampered with.
The blocks are highly resistant to data modification or alteration. The immutable nature of blockchain improves data integrity and trustworthiness.
With blockchain technology, the N2 Platform helps banks store all the transaction details, untampered by any external forces.
The Platform offers a global master wallet so that the users don’t have to migrate their funds from the existing bank accounts to any other crypto-based bank.
The whole point of using blockchain is to let people share valuable data in a secure & tamper-proof way. Blockchain ensures this by storing the data using sophisticated math and innovative software protocols that are extremely difficult for attackers to manipulate.
In the blockchain, the records are secured through cryptography. If a single record is altered in a block, then the network participants will know right away that some changes are made.
This is because the data are distributed across multiple networks that are updated continuously and kept in sync.
Since blockchain acts as an underlying technology for the N2 Platform, it provides high security for both banks and users, such as distributed data and improved digital identity protection. Additionally, blockchain eliminates the threat of data breaches.
The nature of blockchain technology is to remove intermediaries and complete the transactions instantaneously. This is due to the application of smart contracts. The smart contracts are automated and predefined protocols that run on the blockchain.
They regulate the transactions by eradicating the need for third parties to process and manage the transactions.
With blockchain technology, the transaction process is automated and takes place instantaneously. So, the users of the N2 Platform can experience faster transactions since there is no involvement of intermediaries.
Blockchain technology allows users to transfer money globally by securing all the transactions through cryptography.
N2 provides a single global account for each user. The account has an inbuilt master wallet that supports both fiat and cryptocurrencies such as USD, EUR, BTC, ETH, USDT, & N2C.
With this master wallet, users can make cross-border transactions either in fiat or crypto in a hassle-free manner.
Minimum transaction fees:
Blockchain eliminates intermediaries and multiple gateways in cross-border transactions and allows users to make peer-to-peer transactions, which eventually cuts down the transaction fees.
If a payment happens on the N2 Platform, it charges a minimum transaction fee; very low when compared to other payment processors.
Easy currency conversion:
The N2 Platform accepts both fiat and cryptocurrencies. It also eliminates the need to seek third-party platforms for currency conversion.
N2 offers an integrated platform to convert various denominations and cryptos in a seamless manner. The variations are fiat-fiat, fiat-crypto, crypto-fiat, crypto-crypto.
With the growing technological innovation, the benefits of the N2 Platform do not end here. We strive to serve endless opportunities for both conventional banks and customers in order to improve the whole global financial ecosystem.