HesabPay utilizes Algorand blockchain to facilitate 6K daily transactions to combat Afghan humanitarian crisis
SINGAPORE, Sept. 21, 2022 /PRNewswire/ -- The Algorand Foundation, whose mission is to empower the ecosystem of Algorand, the carbon-negative Layer 1 blockchain invented by Turing Award winner and MIT professor Silvio Micali, today announced that Afghan e-payment solution HesabPay has successfully migrated to the platform. HesabPay's migration, which was funded through the Foundation's grant program, is expected to stimulate about 6,000 transactions daily and impact tens of thousands of Afghans, especially women, in dire need of access to payments.
Utilizing the Algorand blockchain as a settlement layer, HesabPay users will benefit from its Pure Proof-of-Stake (PPoS) consensus mechanism which enables near-zero cost transactions that settle within 4.5 seconds. This is expected to increase the ease and efficiency in which HesabPay connects international aid organizations to...
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