Rate3 has recently partnered with Bluehill, a blockchain accelerator and incubator created by IOST, which has raised $50 million to fund its investment program. Rate3 is designing a simple infrastructure for trustworthy e-commerce relationships and merchant-to-consumer payment channels, while also creating a reliable credit scoring system for traditional lenders and capital providers. Rate3 will utilize the high scalability, decentralization, and security of the IOST blockchain platform.
Rate3 is led by Jake Goh, Lim Jing Rong, and Davis Gay, who are all graduates of the National University of Singapore. Rate3 has a proven track record of success with RateX and RateS, browser and mobile extensions designed to enhance the ease with which a consumer can shop online, while also saving money.
Rate3 is truly excited about our new partnership with Bluehill. Joining IOST’s ecosystem will help in the technical development and progress of Rate3’s products, specifically on the protocol level. We are also looking forward to working closely with Bluehill, especially with regards to advisorship, industry partnerships, recruitment and global marketing. Bluehill’s global network and offices in China, Korea, Singapore, the United States and Germany will be incredibly valuable in helping Rate3 gain global awareness. – Albert Ho, COO of Rate3
The partnership between Rate3 and Bluehill marks a new era in cross-border payments and credit scoring systems.
The Rate3 protocol will open the door for a whole wave of Fintech innovation.
The Rate3 team is currently working on its proof of concept, with plans to launch their mainnet in less than a year.
After the successful launch of their mainnet, consumers and merchants will be able to send and receive RTE, the Rate3 native cryptocurrency, and a select few top fiat currencies and cryptocurrencies. Developers and businesses will then be able to integrate Rate3 into their online stores without any setup fees. To help drive adoption, RateX plans to integrate with Rate3, which will provide Rate3 with an existing customer base.
The ambitious team at Rate3 also plans to develop a stable coin, allowing users to reap the benefits of blockchain technology without exposing themselves to its volatility. Their technology will allow insurance companies to integrate with Rate3 to tap into their credit scoring system and offer a variety of insurance services. Rate3 is also working to integrate cross-chain partnerships with other blockchain products to offer higher levels of adoption and scaling.
Rate3 simplifies cross-border payments and credit scoring
Rate3’s dual-protocol functions as both a cross-border payment system and a credit scoring protocol. The cross-border payment system provides buyers access to mid-market exchange rates with no additional transaction fees. The system also provides an excellent system for businesses that wish to integrate real-time payments in multiple currencies.
Rate3’s partnership with Bluehill will allow them to work closely with IOST to build a state-of-the-art E-Commerce system with extremely low transaction costs. Rate3 will benefit from the many tools in development by IOST, as well as a fair and transparent feedback system.
Bluehill was established to meet the influx of interest from developers and entrepreneurs planning to build on top of the IOST blockchain. Bluehill plans to provide crucial backing and support to IOST industry partnerships, as well as DApp development and blockchain technology innovations within the IOST ecosystem.
Rate3 is one of seven launching partnerships that were recently announced by Bluehill.
Written by Aaron Cunningham