The technology behind WELD (WELD) is multifaceted, combining blockchain innovation with practical financial solutions. At its core, WELD operates on both the Ethereum and Binance Smart Chain (BSC) networks. These blockchains are known for their robust security features and decentralized nature, which are crucial for preventing attacks from bad actors. Ethereum, for instance, uses a proof-of-stake consensus mechanism that requires validators to hold a certain amount of cryptocurrency, making it costly and difficult for malicious entities to manipulate the network. BSC, on the other hand, employs a proof-of-staked-authority model, combining elements of proof-of-stake and proof-of-authority to enhance security and efficiency.
A distinctive feature of WELD is its deflationary model, which includes a monthly "buy back" of WELD tokens from the market. This mechanism reduces the total supply of tokens over time, potentially increasing their value and providing an incentive for holding WELD. This buy-back strategy is designed to create a more stable and valuable ecosystem for users and investors alike.
WELD also introduces the WELD card, a pioneering crypto card in Ukraine and the CIS region. This card allows users to make easy and legal payments with cryptocurrency, bridging the gap between digital assets and everyday financial transactions. The WELD card supports payments with stablecoins at all points of sale using Apple Pay and Google Pay, making it highly versatile and user-friendly. Additionally, it enables the use of crypto assets for online purchases, offering a seamless integration of digital currencies into the traditional financial system.
The WELD card also provides users with the ability to control their digital asset balances through a mobile application or website account. This includes not only cryptocurrencies but also next-generation digital assets like NFTs and donations. The card comes with a cashback program and offers minimal fees for payments, enhancing its appeal for everyday use. Users can also choose a bank in different jurisdictions for opening an account, providing flexibility and convenience.
Weld Money, the fintech project behind WELD, aims to revolutionize finance and payments by offering a modern digital payment solution for recurring daily expenses. This solution is backed by any crypto wallet, making it accessible to a wide range of users. The project was developed by Alexey Meretskiy, Alexey Bobok, and Iryna Lorens, who envisioned a transparent bridge between the world of cryptocurrencies and traditional fiat finance.
In addition to its financial applications, the technology behind WELD has roots in the welding industry, where it is used to join metals through heat and pressure. This technology has been applied in various sectors, including heavy industry, automotive, and medical, to increase productivity and improve the quality of welded products. This diverse application of welding technology underscores the innovative spirit behind WELD, as it seeks to enhance both financial and industrial processes.
Deregulation and decentralization are key drivers of user engagement and growth for Weld Money. By minimizing the barriers to entry and offering a decentralized platform, WELD encourages broader adoption and participation in the digital economy. This approach aligns with the broader trend towards decentralization in the cryptocurrency space, where users seek greater control and autonomy over their financial assets.