The digitalization of the financial market will appear, at least initially, as a hybrid of old and new: classic, fiat currencies on the one hand, and digital (crypto) currencies on the other. The combinations of these two completely different platforms also require new financial instruments. They must be safe, reliable, easy to use and user-friendly. A debit card is also one of the key financial instruments for mass use.
Digital currencies are the future. Their deployment could be greatly accelerated if users accepted them as a standard part of the payment system. Or, if they could handle them equally easily and in the same way as they do now with traditional currencies.
The fact is that digital currencies will enter the general public as a means of payment only when they reach a critical mass of use, or to some extent replace the fiat currency. This means that the procedures for handling cryptocurrency must be virtually identical to the current financial procedures. The less learning, adjusting, or even compromising there is when using a cryptocurrency, the sooner people will accept them, and start using it. (Of course, this is based on the assumption that all key protocols will be designed and enforced, especially in terms of ensuring security, stability and preventing abuse.)
One of the key financial instruments for mass use is a debit card that will allow direct payment with the crypt of currencies in all places that accept ordinary credit and debit cards. As it is the case with classical, the “crypto card” must also be stable, secure, widely usable and easy to handle.
Several attempts have already been made to produce such a card, but at the end of 2017, they were abolished by financial institutions. The mistakes that arose and ultimately caused the discontinuation were mainly the poor design of the platforms, the lack of knowledge of the functioning of the banking system, and the incompatibility of conventional and newly created digital systems.
That’s why we have designed a completely new, long-term and stable platform – the “MonaLisa” system. This will provide a convenient prepaid card for secure, stable and universal payment, at the option of the user: either with digital currencies or with conventional ones.
The “MonaLisa” platform will combine conventional currencies within the existing financial system (MasterCard / Visa, banks and the like), and new digital blocks linked to Blockchain technology.