Zamanat (ZMT)

What is Zamanat

Zamanat would be using end-to-end encryption to prevent a third party from gaining access to the real-time location and the personal details of the Zamanat users, that are communicated between the apps. Even the ride-hailing service provider would not have access to the users’ location data. If communication between the Zamanat apps is intercepted, the eavesdropper will only find unreadable scrambled data that would not be possible to decrypt without a private key. The private key would only be available on the Zamanat recipient’s device.

The use of blockchain on the Zamanat platform provides a secure authentication system by storing the encrypted credentials of users on the blockchain network that can be verified by multiple nodes on the network. In a blockchain based user authentication system, every Zamanat user is assigned a blockchain ID and a public key stored on the blockchain along with a private key stored privately on the Zamanat user’s device.

Zamanat allows users to pay with cash or internationally accepted cryptocurrency, ZMT and other internationally accepted payment methods such as debit/credit cards, stripe and PayPal. The ZMT would have a number of benefits over the conventional bankcards. The transaction fees for using  Zamanat Tokens are small and they are fixed for every country. Unlike the bankcards, the Zamanat users would not have to rely on their banks to allow the transactions in a different country