Place/Date: Oslo, Norway - January 11th, 2022 at 8:54 pm UTC · 4 min read
Contact: Frode van der Laak, Source: Reltime AS
Reltime is all set to launch its Initial Exchange offering on two platforms P2PB2B and IndoEx. The Reltime DeFi Ecosystem is a global financial service controlled entirely by end-users. Reltime was founded by a team in Norway, El Salvador, Canada, and India. Reltime started out as a project at King’s College London in 2018. Built on trust, performance, and security, the Reltime DeFi (Decentralised Finance) Ecosystem is owned, backed, and supported by the world’s leading financial partners, for example, TAG Systems and FSS Tech will help bring the platform to the mass market.
Reltime offers direct P2P and M2P lending, borrowing, free remittance, and joint-account services are available to users here, and they are backed by industry experts throughout the world. The Ecosystem creates its own Reltime PoA (Proof of Authority) protocol, which is a blockchain technology that allows for speedier transactions by using an identity-based consensus process. Reltime has been developing the platform with the aid of global organizations since 2018 in order to provide the service as the first true banking offering based on Blockchain-based Smart Contracts and dApps.
Frode van der Laak is the inventor of the PoA and the Ecosystem of Reltime. Frode, with an MSc in Software and System Security at the University of Oxford, MPhil in the Faculty of Natural and Mathematical Science, and a Pending Ph.D. from King’s College London in DLT. He brings enormous value to the Reltime team by bridging distributed ledger with user efficiency interests, as well as inventing patented and patent-pending to promote convenience in a telecommunication environment and DLT environment. Have filled over 15 patents. Reltime will go public on a regulated exchange, where it will continue to develop new innovations, file patents, and incorporate new technology. Reltime will distribute investor funds based on escrow and evidence from the investor workshop. This workshop is part of Reltime’s request for feedback from investors who are interested in becoming a part of this groundbreaking invention.
Reltime intends to revolutionise the state-of-the-art Blockchain technology used in tenancy and microtransactions. The Reltime Proof of Stake ‘RPoS’ consensus method will provide a decentralised public ledger that is open, scalable, and rapid. The protocol aims to take advantage of the structural qualities of blockchain to solve the orphan rate problem. The capacity of RPoS to survive this difficulty and hence increase scalability depends on the additional rules provided to cope with transaction consistency as well as any other design decisions taken.
Based on building blocks, the Multi-Tenancy protocol established as part of the protocol will be straightforward to mass-adopt. Nonetheless, in order to be approved by the industry, it must be able to support industry standards, such as Mastercard MCBP.
The Reltime platform provides a variety of services to its users, including low-cost cross-border transactions, peer-to-peer lending where the lender sets the interest and terms, payment cards, embedded financial services that provide instant payments, spending insights, instant lending, zero-transaction fees, open APIs, and more. Reltime has teamed with Accubits Technologies, one of the leading blockchain development businesses in the market, to build its blockchain components. After the completion of the Reltime security token offering (STO) in October 2021, the ecosystem is expected to start in Q2 of 2022. Reltime is also working on developing a mass-market ID and biometric card.
Reltime lending is a peer-to-peer lending platform that allows users of the Reltime app to borrow money from other users. Instant loans backed by crypto assets give users short-term liquidity. Users can borrow money from other users by submitting collateral in fiat or cryptocurrencies. Borrow fiat or cryptocurrency as collateral. Until the borrower repays the lender the borrowed amount plus interest, the submitted collateral will be locked in. Reltime allows lenders to publish their RTC tokens on the platform and receive interest payments from borrowers.
Reltime employs advanced DLT technology to provide a DEFI payments ecosystem for B2B and B2B2C transactions around the world. Reltime’s mission is to rebuild the banking system as a de facto decentralised, automated, and regulatory-compliant platform. Users can transfer money from one account to another in a matter of minutes with minimum transaction fees with Reltime Money Transfer.
The transaction is backed by an RTC stable currency. Assume a sender in the United States wishes to transmit money from his account to a receiver in India. In that instance, the sender can use the Reltime mobile application to purchase RTC stable coins and transfer them to the recipient’s wallet. The recipient can convert the RTC tokens they have received into their own money. They are able to complete the transaction in a matter of minutes for a small cost.
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