The Colorado-based blockchain technology developer, ArkiToken, has released a revolutionary new application called BullaBanker that lets users conduct financial and personal transactions using digital assets. This is one of the easiest ways for individuals around the world to process transfers without having to rely on a bank. The new solution will use RSK blockchain technology in order to operate and run its processes.
RSK Supports ArkiToken’s BullaBanker
RSK continues to grow with the recent deployment of ArkiToken’s BullaBanker decentralized finance application. Thanks to RSK’s technology, BullaBanker will be able to process users’ transactions in a seamless way without requiring participants to have a bank account.
By reformatting previous accounting journal tokens called (AJT) into ERC721 NFTs, it is possible to open up credit market opportunities. In this way, new crypto participants are able to use, trade and finance NFAJTs and so monetize credit on top of the BullaNetwork.
BullaNetwork would now add more RSK volume expressed in new credit monetization markets, and this is a very important step for RSK. Why? Because the credit world is larger than the payments world. If this volume is then routed through RSK, the network could become one of the largest in the market.
ArtkiToken wants to provide native banking functionality for crypto owners to make transactions easy to use without having to rely on banks or intermediaries and without having to pay large fees for using blockchain networks.
Additionally, BullaNetwork allows users to transact in different stablecoins, such as RDOC, WRBTC, CUSD, USDC, WBTC, WETH and WxDAI, among others. RSK enables the full suite of stablecoins on Bitcoin as well as DeFi products using Bitcoin’s network security.
The BullaNetwork project aims to make the entire DeFi market more collaborative. This has not been planned for retail users but also for larger players and projects. They can easily mint their NFAJT and collaborate with different business partners to manage credits and payments in a simple and easy way.
NFTs Work as Gateways for DeFi on RSK
We have heard in recent times how the NFT industry has reached unprecedented levels. That’s real. There have been hundreds of NFT art auctions and collectable projects in the blockchain market. However, there have been very few initiatives linking NFTs with the decentralized finance industry.
This is where this project makes the difference. NFAJTs could also become gateways for services in DeFi on top of the RSK network. This is a great thing to mention as it shows the innovative aspects of NFTs and companies working with them. BullaNetwork shows that it is possible to increase DeFi value and allow people from all around the world to benefit from a new bankless economy powered by some of the most innovative blockchain networks such as RSK.
Finally, RSK is the most secure smart contracts blockchain network in the world. The transactions processed by ArkiToken would then be protected by RSK’s technology, which is one of the most advanced in the crypto space.