KryptoPal is a blockchain-based platform that can be integrated into various applications around the world to perform various cryptocurrency transactions. Headquartered in Phoenix, it was started by technologists who have been inside the world of blockchain (records linked and secured by cryptography) for years and are frustrated with the current barriers preventing widespread and global adoption of cryptocurrency.
“Our big picture goal is to make millions of applications and devices seamlessly perform and track blockchain transactions while giving consumers the data security, privacy and ownership they seek,” said Venkat Nallapati, CEO, KryptoPal. “Cryptocurrency is not accepted widely by merchants or applications, mainly because transactions cannot be executed in real time or have other significant implementation overheads. The KryptoPal platform solves that problem.”
At the heart of KryptoPal is a software platform unlike any other in the industry. Despite the widespread adoption of blockchain — such as daily banking, money transfers, commerce and bill payments — and various cryptocurrencies, there remain significant barriers for users of this technology. Numerous software implementations or integrations are required to use well-known cryptocurrencies and to track these various blockchain transactions. Also, even well-regarded cryptocurrencies generally are not accepted widely by merchants or compatible with a variety of systems and applications.
“Regulatory issues around cryptocurrency and ICOs are making it hard for us to plan anything properly,” notes Nallapati. “There is a fearful environment created by the SEC around this topic, and the SEC is too far away to come up with any concrete process or regulation like there is in Switzerland or Singapore.”
According to Statista, there are 6.5 million applications being used by over 4 billion people worldwide. Most of these applications lack the capability to connect with each other and provide a seamless experience for users. KryptoPal solves these problems with its software solutions that can be integrated with any app, browser, device (Internet-of-Things or Point-of-Sale) or platform, to perform blockchain-related functions such as cryptocurrency transactions with ease.