[Asia Economy Reporter Hyungsoo Park] Beauty Bakery, which is promoting the blockchain new business LOTT project, is strengthening its blockchain business competitiveness together with the virtual asset exchange Borabit.
Beauty Bakery announced on the 21st that it will introduce Borabit's Purple Payment system into the LOTT project. They will jointly develop a blockchain-based payment platform.
Borabit is a virtual asset exchange established in 2017 by Banko, a blockchain and fintech development specialist company. Last year, it independently developed the system Crypto Guard to respond to the Travel Rule and anti-money laundering for virtual assets. By introducing the Purple Payment system, the virtual asset payment time was reduced to about 0.01 seconds.
A Beauty Bakery official said, "Borabit's Purple Payment system has the advantage of preventing virtual asset money laundering and having a short payment processing time," adding, "The introduction of the Purple Payment system will accelerate the advancement of the LOTT project system and the development of the platform."
The LOTT project is a blockchain platform new business that applies NFT technology to various fields such as beauty, entertainment, and games. It uses LOTT tokens as a payment method.
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