This blog was originally published on Medium.
VIVOPago is a revolutionary platform that integrates the Open Economy Kit with a seamless payment gateway for Media and Telecommunication services. In an extremely bold initiative, VIVOPago will introduce the PAGO token, affording Latin Americans, banked and unbanked alike, through a network of launch parties, with access to voice, data, and premium television content.
The VIVOPago platform will create a disruptive ecosystem between advertisers, users, and service providers. Introducing a transformative change in the interaction between advertisers and platform users, affording brands the unique possibility of rewarding audiences with PAGO tokens for brand engagement, and similarly disrupting the payment dynamic between platform users and service providers via the introduction of a completely new payment system for Latin Americans.
The mechanics through which VIVOPago will accomplish this include the following technical features:
• Wallet and micropayments system between advertisers, users, and service providers
• Rewards and discount programs
• User engagement and rating data registration
While the growth of Fintech and new digital payment systems is nothing new, in Latin America it’s emerging as a growing disruptive force. Fueling this growth is the fact that half of the population is unbanked, but at the same time, the region has one of the highest adoption rates of smartphones globally. Realizing this potential, Latin American governments have undertaken several programs to promote digital inclusion and the development of Fintechs. VIVOPago is one of the Fintechs at the forefront of this revolution, and it has partnered with The Open Application Network and Mavennet to execute a multi-phase plan, over the span of several years.
One of the opportunities provided by the Open Economy Kit and the underlying blockchain network is to solve for trust issues, counterfeiting, and identity management through digital immutability and disintermediation. In some parts of Latin America, these needs are exacerbated due to government instability, hyperinflation, and other factors. As a result, the interest in cryptocurrencies is skyrocketing, with most of the region experiencing all-time trading records for cryptocurrencies during the last two years.
VIVOPago is addressing this opportunity by creating the PAGO token, a native token to be traded on a multi-service platform, in exchange for services, access to reward programs, and discounts. Open Economy enables VIVOPago to design a universally accessible asset with specific characteristics that guarantee supply, fungibility and other redemption rights. Providing a seamless developer experience to design, test and integrate PAGO into multiple payment, content and services platforms.
VIVOPago’s Alpha Platform currently runs on top of The Open Application Network, utilizing the Open Economy Kit.
VIVOPago is an independent Fintech initative from VivoPlay, a Latin American OTT leader and live stream provider with studios in the city of Caracas. VivoPlay brings the Hispanic TV experience to the digital ecosystem, offering exclusive premium content, live tv, original productions, news and special events, connecting its 4M+ subscribers to their countries of origin, interests and content needs. For more info, visit www.vivoplay.net
The future is bright. Let’s go! El futuro es brillante. Vamos!
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