There is no intermediary like a bank involved in a transaction but there are miners to legitimize the process. Until and unless the miners confirm the transaction, it can be changed or played with. However, after the confirmation, the transaction becomes irreversible. All the peers connected via NCash framework have to add it to their database. In the end, the transaction becomes immortal i.e. it can’t be manipulated, hence, becoming part of the blockchain.
The people behind NCash created this digital currency at Harvard University. It reminds you of Bitcoin, which is currently the most talked about cryptocurrency of the digital landscape.
NCash came to life in 2013. It is a developed using the Internet of Things (IoT) platform. That means the data transfers between mediums (living or non-living) without any physical interaction. Moreover, each machine or living being that implements IoT-based solution is intelligent to transfer data on its own.
The investors include Tim Draper, Reliance Capital, and other top-level funds. CEO, Abhishek Pitti is positive, Nucleus Vision will revolutionize the retail industry. Furthermore, he expects in collaborating with these investors on a long-term basis. Brick-and-mortar businesses will have more room for sales cashing out on opportunities with Nucleus Vision that were not possible before. In the light of that, NCash will save time and resources for both the salesmen and customers.
A few examples of IoT technology we see nowadays include cars with sensors, one of them checks for pressure in tires. By sending an alert, the technology predicts a tire going flat beforehand if the pressure is too low. Moreover, animals implanted with biochips and humans with heart-beat pacers are notable instances of IoT.
As a matter of fact, IoT technology is like giving the machines and animals the power to think. You can be certain each of them is maintaining a smart ledger that updates itself.
With almost the same purpose, 1 bitcoin is equal to 244710 Nucleus Vision (NCash).
Additionally, it shows the importance and worth of a bitcoin. Bitcoin was the first cryptocurrency to make a mark in the financial sector.
Understanding the business of retailing pretty well, the data provider asks a retailer to pay up in NCash tokens as a fee to access NCash or Nuclear Vision. Once the transaction takes place, the salespeople can ask the walk-in customers to grant access to their data by sending a prompt message on their phone. If they allow the data exchange to happen, they get a few NCash tokens in their account as a bonus.
Although a lot of work is happening in the world of technology, it is not easy to predict its actual life. This makes the investment in it a daunting task. To see the future of technology befitting and aiding human life, in the long run, is difficult to foresee. Hopefully, NCash will prevail and accomplishes its purpose.
Retail outlets can use the Nucleus Vision platform to send a request to exchange data on walk-in customers’ phones. If they accept it, they are obliged with NCash tokens as a reward. The retailer has access to customer’s information. A shopkeeper knowing the likes and dislikes of a customer can make better sales decisions. In addition, it is in the best interest of both the business owners and the customers. This technology is revolutionary because it does not need a Wi-Fi or Bluetooth connectivity.
A financial transaction at the stores, by the use NCash tokens, happens not only easily but quickly. NCash tokens are the physical form of Nucleus Vision cryptocurrency. If you want to pay for your clothes, you can do that via NCash tokens without any delay.