The HBAR Foundation Supports Launch of Hamilton’s Reserve on Hedera
The HBAR Foundation is pleased to announce its assistance to Hamilton's Reserve, an innovative financial account that redefines the way consumers save, pay, and invest in cryptocurrency assets, for the launch of Hamilton’s Reserve on the Hedera Network.
Hamilton’s Reserve aims to leverage Hedera’s fast, secure, and cost-efficient network.
Hamilton’s Reserve will use the Hedera Smart Contract Service (HSCS) on their Hamilton’s Reserve Card program to disintermediate payment gateway obstacles and reduce merchant discount fees. The launch will bring the users of Hamilton’s Reserve into the broad network of Hedera. Moreover, the company’s users will be able to pay instantly with crypto-assets. The launch on the Hedera Network will also allow Hamilton’s Reserve to offer greener and less expensive transactions.
By planning to disrupt the $350 billion worth of fees paid annually to issuing card networks and acquiring banks, the company’s card and app will provide consumers with simple tools to instantly pay with cryptocurrency assets and save as they spend. This in turn will enable users to round-up purchases, save cryptocurrencies, and receive cash or cryptocurrencies back as a reward for spending. The use of Hedera smart contracts will also allow the consumers of Hamilton’s Reserve to pay for items via cryptocurrencies without having to sell them and also enable merchants to bypass interchange fees and traditional payment gateways.
“We intend to replace all the unnecessary layers of nodal transaction points that essentially ‘tax’ consumers and merchants to facilitate the acceptance of payment cards and the settlement of the debt between the consumer and their preferred merchant,” said Geoff Cairns, CEO of Hamilton’s Reserve. “Hamilton’s Reserve will disrupt banking and payments much like Uber did taxis.”
Read the full article on the Hbar Foundation website.