GEO Protocol, a fintech startup aiming to merge blockchain-based ecosystems with traditional finance, has recently published its whitepaper.
The 20-page document explains the main idea and technical components of the project, a brief market overview, a description of the GEO ecosystem, and a high-level explanation of GEO Protocol’s economic and participant incentivation model.
It also suggests a number of additional use cases for the project’s open-source technology such as payment systems, cross-border payments, IoT solutions, clearing systems, cross-chain DEX and arbitrage systems, clearing systems, and local currencies.
The only components that are absent from the whitepaper concern the business model and investor information, but the team says it can submit these materials upon request for interested parties.
GEO Protocol is an open-source layer 2 protocol solution that enables creation and provides interoperability of value transfer networks in a lightweight, cost-efficient, and scalable way.
Last month, the New York-based investment and research firm CoinFund announced that it had invested in GEO Protocol’s seed round. The fund stated that it supports the startup because it is “confident in the team’s ability to deliver a valuable technology platform that will democratize and simplify value exchange for everyone, disrupt the global payments market, and ultimately empower financial inclusion for many people worldwide.”
