Blockchain
Cosmose AI, which uses AI to monitor in-store foot traffic, has announced a partnership with the Near blockchain. As part of the partnership, the Kai-Ching payment system will be built, which will allow users to make purchases using cryptocurrency. This method offers significantly lower transaction costs.
As part of the partnership, the Near Foundation has made strategic investments in Cosmose. While the investment amount is not being disclosed, this round of funding raises the company’s valuation to $500 million, a significant increase from its $100 million valuation after securing $15 million in Series A funding in 2020.
Miron MIRONIUK, the founder of Cosmose, believes that the KaiKai platform with the blockchain-based Near payment system can reduce transaction costs about 50 times compared to current payment leaders such as Stripe or PayPal. In addition, Cosmose will migrate customer data to the NEAR Protocol blockchain to increase transparency, allowing users to customize how and what is tracked from their data.
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