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While the public blockchain projects have got the ball rolling in getting faster and low-cost payments to the world, the privacy coins have managed to facilitate and secure the use of blockchain technology by adding the element of privacy.
SnowGem (XSG) is one such decentralized cryptocurrency based on ZCash and is using Zero-knowledge Proof (zkSNARKS) for facilitating encrypted transactions on its blockchain network.
The zkSNARKS is a blockchain-based privacy driven feature that enables secure transactions between two parties without revealing the identity of the sender or receiver.
Since SnowGem (XSG) is a forked version of the ZCash blockchain, it inherits almost all features of the platform and more besides and it is the first and only ZCash derivative to offer Masternode ownership.
SnowGem Prepaid Card
What makes SnowGem special is that it has its own full-node multi-currency modern wallet and additionally, it is also working on a payment processing system that comes with Credit/PrePaid card support.
SnowGem is revolutionizing the payments Industry With Its Own SnowPay Platform and Credit/PrePaid Card Support.
The development team at the project is taking some bold measures that plan to bring crypto payments to the mainstream by partnering with some of the traditional players like MasterCard.
The team’s SnowGem SnowPay platform has now entered its final phase of development as it has recently received approval to work with MasterCard on its Prepaid card project. As part of this partnership, these two platforms will proceed ahead with network integrations allowing the users to spend precious cryptocurrencies throughout their daily lives. This is a big step by SnowGem for mass adoption and all digital currencies.
SnowPay Solution and Wallet
The development team at SnowGem is planning to release its SnowPay solution along with its new CoinGuard wallet. With this, the platform will offer an integrated and “all in one” solution meeting customer’s needs.
The first batch of the SnowGem SnowPay cards is likely to be released within a few weeks with no fixed date as of now.
There’s a lot of buzz around SnowGem’s home-built CoinGuard wallet. This is a full-node multi-asset Crypto wallet which allows its users to store all their Cryptocurrencies in one secure and “spendable” place.
New Developments and Special Features of the SnowGem platform
To bring more control in the hands of the users, the SnowGem development team is developing a native Decentralized Exchange (DEX) for user privacy and Content Masternodes for storing important media and documents.
Some of the special features of the SnowGem platform are Privacy, Longevity, Availability, and Profitability.
Privacy: Using shielded transactions, SnowGem hides the identity of the sender and the receiver. This helps to keep your financial information confidential.
Longevity: The SnowGem team believes in delivering long-term results and thus it is open to feedback and suggestions from its community.
Availability: One can send and receive SnowGem at any time on the clock and from anywhere in the world. SnowGem enables users to receive instant payments.
Profitability: The platform has different incentive programs that reward users for owning SnowGem XSG.
Source - https://news.cryptoshib.com/snowgem-new-wallet-credit-card/