Scallop — solving worldwide problems with the utilization of its products

Precious
3 min readDec 24, 2022

For many years now, there have been two types of money in the world — cash and electronic money. Cash is paper money (and coins) and electronic money is the ‘numbers on the screen’ that shows people how much cash they have. But, now, there is a new, third type of money — digital money. Digital money is money that only exists online. It’s numbered on a screen too but you can’t touch it in real life like you can with cash.

Many people today call this digital money “cryptocurrency” or “crypto”.

The Scallop Platform makes it easy for people to use their digital money. This eliminates the need for spending so much to convert electronic money to digital money.

Scallop makes it easier for people by giving them one place to manage both types of their money — electronic and digital. Digital money flows from one person to another, without the need for a bank. This way, it becomes faster to transact and also cheaper, as there isn’t a third party for fees to trickle away to.

Scallop Chain lets people use the money of the future in exactly the same way that they use the money of the past. Scallop makes your financial journey easy and enhances your everyday digital money experience.

Scallops Products.

The Scallop platform has 10 products in total. These 10 products make it possible for people to use their digital money in any way they want.

  • Banking account: To hold your electronic money which is secure a
  • Wallet: To store the digital money that you own in both FIAT & CRYPTO form.
  • Exchange: To swap crypto for other crypto and electronic money for digital money.
  • Scallop Earn: You can earn rewards on both your digital money and electronic money.
  • Multicurrency Wallet: store up to 15+ different currencies. Perfect for holidays!
  • Scallop Chain: A blockchain is a technology that supports the workings of digital money. Scallop is building its own regulated blockchain
  • Scallop NFTs: A digital way to store, buy or sell art.
  • Transfer: People can send money to each other.
  • Cards: People can pay for things with digital money using a debit card, as they do with cash at the moment.
  • Pay: Shops can accept digital money for their products.

Unfortunately, with the recent spate of events, users have begun to question their trust in the industry.

FTX, one of the world’s leading crypto exchanges, collapsed into bankruptcy a few weeks ago after discoveries concerning its business methods were revealed.

This resulted in a rise in consumer withdrawals and FTX was not able to cover these withdrawals due to insufficient funds. The aftermath of this has made critics skeptical about centralized exchanges like FTX, saying they haven’t been reliable stewards of customers’ assets.

To ensure the safety and security of its ecosystem, Scallop has put in place a three-point plan(commandments)that all participants must follow to provide a secure and safe crypto ecosystem.

Read the article containing the commandments here

With these 3 points, Scallop has been able to demonstrate to users that it is able to offer the most secure and transparent service in the crypto space.

Also, this Christmas brings something new to those enthusiastic about Crypto and passionate about everything Scallop.

If you’re among those mentioned above, here’s an opportunity for you. You can Join the Scallop Ambassador program now. Go through the Criteria & Perks below and apply to become one of the Scallops.

https://scallopx.typeform.com/to/C2XIpxIi

Follow Scallop on:

Website | Twitter | Instagram | Medium

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Precious

Content Creator || Blockchain Ambassador || Public Speaker || Community Management. Reach out to me: ekerekepreciousimeh@gmail.com