Learning the friendly way

One of the first stablecoins to come into existence, Dai was launched in 2017 and is maintained and regulated by MakerDAO. Using a series of smart contracts, Dai maintains a value of $1, or very close to it. Due to the coin’s soft peg to the US dollar, the Dai stablecoin not only provides a stable long-term store of value but also a strong medium of exchange. 

Let’s explore what Dai is and how it contributes to the crypto ecosystem. 

What Are Dai tokens?

Dai is an ERC-20-based stablecoin pegged to the US dollar. While more stablecoins hold the fiat currency to which they are pegged in reserves, the Dai stablecoin instead uses several cryptocurrencies to ensure it holds its peg. 

Supported cryptocurrencies include Ethereum (ETH), (BAT), USD Coin (USDC), Wrapped Bitcoin (wBTC), Compound (COMP), and many more. With a wide range of collateralized cryptocurrencies, user risk is decreased and Dai's price stability is increased.

Dai is issued and operated by the Maker Protocol and the MakerDAO (decentralized autonomous organization). Designed to provide a means of lending and borrowing crypto assets, the Dai stablecoin was at the forefront of the DeFi revolution. 

Holders of Dai can also earn interest. The platform also has another coin, MKR, which allows holders to set the Dai Savings Rate (DSR) and act as guarantors for Dai. This ensures that MKR tokens can be liquidated if the system fails. This structure motivates guarantors to ensure that the Dai system and its collateralized coins operate properly.

How do you generate Dai?

Users can generate Dai by paying collateral assets. Dai is created when users deposit ETH or any supported cryptocurrency as collateral. The equivalent amount of Dai is then issued and the user will receive Dai tokens.

If the Dai holders want the collateral assets back, the borrowed Dai can be paid back (plus a stability fee) and the collateral assets will be released. This Dai is then removed from circulation.

History of the Dai Stablecoin

The MakerDAO was first launched in 2015 by Rune Christensen and is the longest-running protocol on the Ethereum blockchain to date. It holds more than 2.3 million ETH in its protocol, approximately 2% of Ethereum’s total supply.

When first created, only Ether could be used as collateral, however, in 2019 more cryptocurrencies were added to this list. The Dai price has always been soft pegged to the US dollar.

How Does DAI Work?

The Dai cryptocurrency is an ERC-20 token that can be bought on both centralized and decentralized exchanges (DEXs). Users can also generate and borrow Dai by using MakerDAO's Oasis Borrow dashboard to establish a Maker collateral vault and put Ethereum-based assets in as collateral.

In its original use, the Maker protocol stored collateral in smart contracts known as maker collateral vaults. These smart contracts held collateral in escrow until the borrowed Dai was repaid, also known as collateralized debt positions (CDPs). The value of the security you send always exceeds the amount of DAI you receive otherwise the collateral will be liquidated. 

The Dai platform is one of the most integrated digital assets in the blockchain industry and can be utilized across decentralized finance (DeFi) applications and blockchain-based games, among other places.

The Advantages of DAI

No Minimum Amount Required

There is no minimum account balance required to use DAI, as there is with most other types of money. A lot of people around the world do not have the minimal amount of assets needed in order to qualify for a bank account, but there is no minimum balance requirement for utilizing DAI.

Price Stability

DAI can serve as a safe alternative store of money and access to financial inclusion for people who live in places where the economy is unstable.

Decentralized Financial Inclusion (smart contracts)

As DAI is a transparent and permissionless system, it allows users to have greater freedom over their money. Zimbabwe and Myanmar, for example, have been recognized as countries where people are limited in their ability to access fiat currency due to daily or monthly withdrawal restrictions on bank accounts imposed by the government.

Passive Income

Users can use DAI tokens to earn money through lockup and interest generation through the DAI Savings Rate system. Because DAI is based on the Ethereum blockchain, it doesn't have its own staking mechanism.

Owners of DAI tokens, on the other hand, may profit by putting DAI into a MakerDAO smart contract. This unique smart contract system protects the user's money and allows for immediate withdrawal.

Quick And Cost-Effective Transactions

In many cases, international wire transfer fees can be extremely high, and the time it takes to complete a transaction might be inconvenient. Global transactions between two users' wallets are made more transparent and efficient due to DAI's low transfer fees and quick processing times.

Operates 24/7

Traditional financial institutions operate only during "business" hours. As a result, transactions through such organizations may be delayed for days and will only finalize after banking institutions are open and transfers have been completed. Transactions can now be completed at any time of the year and on any day of the week using DAI and the Ethereum blockchain.

Continuously Vetted

The MakerDAO system has been found to conduct thorough checks and studies in order to guarantee the platform's security. Developers formally validate all smart contracts and core protocol elements that make up the system's internal architecture through mathematical analysis. Always DYOR (Do Your Own Research) and fully understand any DeFi protocol before using it.

It's never too late to learn about the new-age financial payment system. Bitcoin has become infinitely more popular with each passing year, and as adoption rates continue to rise, now is the perfect time to become familiar with the world's first and biggest cryptocurrency. 

What Is Bitcoin?

Bitcoin is a peer-to-peer payment system that uses the internet to operate and not a centralised authority like all other currencies. This digital currency cuts out the middleman and instead allows users to send money directly to one another, eradicating high fees, lengthy application processes and time spent waiting for money to clear.

Instead of being operated by a bank, government or financial institution, Bitcoin is run by a network of computers around the world that all follow the same protocol to ensure the network operates smoothly. Blockchain technology forms the backbone of Bitcoin and ensures that all transactions are facilitated in a timely, transparent and immutable manner. 

Bitcoin is a secure, decentralised, borderless payment system and form of digital currency that operates 24 hours a day, 7 days a week. 

Bitcoin is often compared to gold as both assets have proven to be successful investments over the years. While regulation regarding cryptocurrency is still being ironed out, it still remains a widely adopted and heavily used payment system.

What Are The Benefits Of Bitcoin?

Bitcoin brought about an entirely new way to manage one's funds. With the use of blockchain technology and the internet, Bitcoin has become a thriving financial ecosystem over the years. Below we outline several benefits of using Bitcoin.

• Decentralised. The network is entirely free from centralised control, including stopping transactions, freezing accounts and requiring complex paperwork.
• Accessible. Anyone anywhere can tap into the Bitcoin payment system as long as they have an internet connection. The platform is fully inclusive.
• Transparent. While the network is considered to be "pseudonymous", all transactions are still recorded on a public ledger in real time, providing an entirely transparent ecosystem.
• Liquidity. Bitcoin can be traded on hundreds of platforms around the world, ensuring that its liquidity is always in the green.

How Does Bitcoin Work?

Using blockchain technology, the network of computers is able to facilitate digital asset transactions from one peer to another bypassing any middleman. Let's break that down. 

Say Amal wants to send George 1 BTC. She will initiate this through her Bitcoin wallet by entering George's wallet address and the amount. Bitcoin is stored in digital wallets which have two important codes: one is the wallet address (known as the public key) and the other is the private key, a code only the owner of the wallet should know (similar to an ATM pin).

Once Amal has initiated the transaction, it will enter a pool of pending transactions on the network. From there, miners will "pick it up" and compete with one another to be the first to solve a complex cryptographic puzzle. The first one to do so will execute the transaction. 

The funds will then leave Amal's wallet and be deposited into George's wallet. This will be recorded on the blockchain, a transparent digital ledger shared across the entire network, citing the date, time, wallet addresses and amount in a block, which are stored in chronological order. Each Bitcoin wallet's balance will then be updated.

Wallets typically require 3 confirmations before the funds can be spent. This means that three new blocks need to be added to the blockchain, each block representing a confirmation. 

What Gives Bitcoin Its Value?

Bitcoin's value is determined by supply and demand, fluctuating in price when supply decreases and demand increases. When Bitcoin was created it was written into its code that only 21 million BTC will exist. By putting a cap on its total supply, the currency is naturally deflationary in value, the opposite of fiat currencies.

Due to Bitcoin's prominent increase in value over the years many investors have deemed it a strong store of value. This paired with its constant availability and high liquidity makes it an excellent long term investment, known in the industry as "hodling". 

What Is Bitcoin Used For?

With the seamless functionality of cash, its "always open" usability and the fact that it can be transferred anywhere in the world in a matter of minutes, Bitcoin is an excellent medium of exchange. 

Anyone can use Bitcoin as payment for goods and services - many merchants around the world accept the cryptocurrency - or as a store of value. As long as the person has an internet connection, they can send and receive Bitcoin. 

Where Did Bitcoin Come From?

First announced to the world on 31 October 2008, Bitcoin was officially launched in early January 2009. The creator, who remains anonymous to this day, goes by the name of Satoshi Nakamoto and is the pioneer behind the crypto revolution. 

They stated in the project's whitepaper that Bitcoin was created as a response to the global financial crisis. Instead, they wanted to create a currency that was free from government and banks' control, allowing people to take ownership of their funds and be solely responsible for them. 

Somewhere in 2010, Satoshi Nakamoto disappeared and no one has managed to track down their identity since. Many speculate that it was a group of people and not one acting alone.

Since the advent of Bitcoin, a number of new cryptocurrencies have been created. Any new currency that launched was referred to as an altcoin (alternative coin), and this term has stuck. There are over 12,000 cryptocurrencies today, each with its own unique use case. For example, Ethereum was created so that developers could build decentralized applications, while cryptocurrencies like Litecoin were created to improve on Bitcoin's payment system.

How To Invest In Bitcoin

Buying Bitcoin is a lot more straightforward than most people imagine. Simply create an account on the Tap app, verify your identity through the on-screen steps and you'll be able to purchase BTC in no time. Get started here.  Learn how to purchase Bitcoin here

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Wanting to stake ETH but don't have the full 32 ETH required? Enter Rocket Pool – the game-changing protocol that's making Ethereum staking accessible to everyone.

Founded in 2016 and launched on mainnet in October 2021, Rocket Pool breaks down the barriers to Ethereum staking by allowing anyone to participate with as little as 0.01 ETH. Or, if you want to run a node, you'll need 8 ETH (plus some RPL as collateral) instead of the standard 32 ETH.

In this guide, we break down everything you need to know about the protocol, including its two key tokens:

• RPL: The governance token that also serves as insurance for the protocol
• rETH: A liquid token that represents your staked ETH and automatically grows in value as rewards accumulate

By democratising access to staking, Rocket Pool stays true to Ethereum's vision of decentralisation while making it possible for anyone to earn rewards from securing the network, with no massive ETH holdings required!

How Rocket Pool works

Rocket Pool's design has three main components that work together to facilitate decentralised ETH staking: smart contracts, smart node network and minipools. 

The Smart Contracts Backbone

At the foundation of Rocket Pool lies a sophisticated set of smart contracts that govern all protocol operations. These contracts manage:

• Deposit pools where regular users stake their ETH
• The creation and management of minipools (validator nodes)
• The minting and burning of rETH tokens
• The staking and distribution of RPL rewards
• Protocol governance mechanisms

The smart contracts ensure that all operations happen in a trustless manner, removing the need for intermediaries and preserving the decentralised ethos of Ethereum. They incorporate various security measures, including extensive testing and multiple independent audits to safeguard user funds.

Key smart contracts include the Deposit Pool, Minipool Factory, and Token contracts. When users deposit ETH, the smart contracts either match them with node operators to create validators or mint rETH representing their stake and accumulated rewards.

Smart Node Network and Minipools explained

Rocket Pool's network consists of independent node operators running the Rocket Pool Smart Node software. This software interacts with the protocol's smart contracts and manages validator duties on the Ethereum network.

Node operators in Rocket Pool contribute 8 ETH (rather than the full 32 ETH required for solo staking), which is matched with 24 ETH from the protocol's deposit pool to form a standard 32 ETH validator. This validator unit is called a "minipool."

The process works as follows:

1. A node operator installs and configures the Smart Node software
2. They deposit 8 ETH and a minimum of 10% worth of ETH in RPL tokens as collateral
3. The protocol matches this with 24 ETH from regular stakers
4. A minipool (validator) is created and begins participating in Ethereum consensus
5. When the validator earns rewards, they are split proportionally between the node operator and the deposit pool

This system creates a symbiotic relationship between those who want to stake without running infrastructure (regular stakers) and those willing to operate nodes but don't have the full 32 ETH requirement (node operators).

The minipool design is particularly innovative because it allows for fractional validator ownership while maintaining security through RPL collateral requirements. If a node operator behaves maliciously or negligently, their RPL collateral can be slashed, protecting regular stakers from potential losses.

Understanding RPL and rETH

As mentioned earlier, Rocket Pool's ecosystem revolves around two main tokens, each serving specific functions within the protocol. 

What is RPL used for?

RPL (Rocket Pool Protocol Token) is the native utility and governance token of the Rocket Pool protocol, designed to align the interests of node operators with the long-term success of the protocol. Unlike rETH, which represents staked ETH, this ERC-20 token serves several specific functions:

1. Node operator collateral: Node operators must stake a minimum of 10% of their ETH value in RPL tokens as security against wrongdoing. This collateral can be slashed if the node operator behaves maliciously, protecting the protocol and its users.
2. Insurance mechanism: The RPL staked by node operators creates a protocol-wide insurance fund that helps secure user deposits and maintain trust in the system.
3. Additional rewards: Node operators can stake up to 150% of their ETH value in RPL to receive proportional RPL rewards, incentivising greater security deposits and alignment with protocol success.
4. Governance: RPL token holders have voting rights on protocol upgrades, parameter changes, and other governance decisions through the Rocket Pool DAO.

What is rETH and how does it work?

rETH is Rocket Pool's liquid staking token that represents staked ETH plus accumulated rewards. These automatically increase in value relative to ETH through a changing exchange rate rather than requiring separate reward claims.

How to stake ETH with Rocket Pool (step-by-step)

Staking ETH with Rocket Pool as a regular user (not a node operator) is straightforward and accessible to anyone with an Ethereum wallet. Here's a guide to getting started:

Option 1: Using the Rocket Pool dApp

1. Connect your wallet: Visit the Rocket Pool website and navigate to the staking interface. Connect your Ethereum wallet (MetaMask, WalletConnect, etc.).
2. Determine your stake amount: Decide how much ETH you want to stake (minimum 0.01 ETH).
3. Approve the transaction: After reviewing the details, confirm the transaction in your wallet. This will swap your ETH for rETH at the current exchange rate.
4. Receive rETH: Once the transaction is confirmed, you'll receive rETH in your wallet, representing your staked ETH plus future rewards.

Option 2: Using decentralised exchanges

1. Access a DEX: Open a decentralised exchange that supports rETH/ETH pairs (Uniswap, SushiSwap, Balancer, etc.).
2. Execute the swap: Trade your ETH for rETH through the exchange interface.
3. Store your rETH: Keep your rETH in your wallet or utilise it in compatible DeFi protocols.

Monitoring your stake

Once you hold rETH, your rewards accumulate automatically through the increasing exchange rate between rETH and ETH. To monitor your rewards:

1. Check the current rETH/ETH exchange rate on the Rocket Pool website or through blockchain explorers.
2. Calculate the difference between the current value of your rETH holdings and your initial investment.

Remember that you don't need to claim rewards separately - they're built into the increasing value of your rETH tokens. When you eventually want to unstake, you can simply swap your rETH back to ETH through the Rocket Pool interface or a decentralised exchange.

How to become a Rocket Pool node operator

For those with technical expertise and a desire to become more actively involved in Ethereum's consensus mechanism, becoming a Rocket Pool node operator offers an opportunity to run validators with reduced capital requirements while earning additional rewards.

Prerequisites:

• 8 ETH for each minipool (validator) you wish to create
• At least 10% of your ETH value in RPL tokens as collateral (for maximum rewards, up to 150%)
• A computer or server that meets the minimum requirements:
  
  • 4+ CPU cores
  • 8+ GB RAM
  • 100+ GB SSD storage
  • Stable internet connection
• Basic command line knowledge
• Understanding of Ethereum staking principles

Step-by-step process:

1. Set up your hardware and operating system: Either use a dedicated machine or a cloud service provider. Most node operators use Linux-based systems.
2. Install Ethereum clients: Set up an execution client (Geth, Nethermind, etc.) and a consensus client (Prysm, Lighthouse, etc.).
3. Install Rocket Pool Smart Node software: Follow the detailed instructions on the Rocket Pool documentation site to install the node software.
4. Configure your node: Set up network settings, client preferences, and MEV-boost options if desired.
5. Deposit ETH and RPL: Use the node software to deposit your 8 ETH and the required RPL collateral.
6. Create your minipool: Once your deposits are confirmed, create a minipool which will be matched with 24 ETH from the deposit pool.
7. Monitor and maintain your node: Keep your system updated, monitor performance, and participate in protocol governance if desired.

The future of Rocket Pool

As Ethereum continues to evolve, Rocket Pool is positioning itself for sustained growth and adaptation. In coming years, several key developments and trends will likely shape its trajectory.

Protocol upgrades:

The Rocket Pool development team has outlined an ambitious roadmap with several major upgrades:

• Saturn upgrade series: A comprehensive set of improvements focusing on scalability, capital efficiency, and user experience. The Saturn upgrade is a multi-phase initiative, with Saturn 0 completed and further phases underway.
• Distributed Validator Technology (DVT): Implementation of validator key distribution across multiple operators, enhancing security and reducing single points of failure.
• Greater MEV optimisation: Advanced strategies for maximising Maximal Extractable Value for stakers while maintaining ethical standards.
• Cross-chain expansion: Potential expansion to other proof-of-stake networks or layer-2 solutions that require validation services.

Scaling with Ethereum:

As Ethereum implements its scaling roadmap, Rocket Pool will adapt to support:

• Danksharding and proto-danksharding implementations
• Increasing validator requirements as Ethereum grows
• Adjustments to staking economics as Ethereum's monetary policy evolves
• Supporting specialised validation roles that might emerge in Ethereum's future

Market position and growth:

While Rocket Pool currently holds a smaller market share than some competitors, its emphasis on decentralisation potentially positions it well for sustainable growth. Here are key aspects worth keeping an eye on:

• Increasing regulatory scrutiny may favour more decentralised staking solutions
• Growing community awareness of centralisation risks could drive users toward Rocket Pool
• The protocol's conservative approach to security and upgrades builds long-term trust

How to buy Rocket Pool (RPL)

If you’re looking to accumulate RPL, you can do so securely and easily through the Tap app. Simply download the app, create an account and complete the identity verification process. Once verified, you can buy RPL with a wide range of supported cryptocurrencies or fiat currencies (through debit card or bank transfer). Ready to dive into the world of staking, or just go along for the ride? Tap’s ready for you. 

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Managing payments across borders remains one of the biggest operational challenges for expanding businesses. While digital transformation has touched nearly every aspect of commerce, international banking is currently lagging behind with separate systems for crypto and traditional currency transactions, creating unnecessary complexity.

Tap solves this problem by offering each business a multi-currency account with a dedicated IBAN that functions as a bridge between these two financial worlds. For businesses handling both crypto and fiat currencies, this means one unified system rather than juggling multiple accounts and conversion processes. This isn't just convenient - it directly impacts your bottom line by reducing transaction fees, speeding up settlements, and simplifying reconciliation.

If you're handling international payments or considering crypto adoption, this could significantly streamline your financial operations. Here's what you need to know.

What is a business IBAN?

An IBAN (International Bank Account Number) serves as your business's financial passport - a standardised identifier recognised across 78+ countries. Unlike traditional account numbers, a Business IBAN follows a structured format that includes country codes, bank identifiers, and your unique account number.

What sets Tap's approach apart is the integration of this established banking standard with crypto functionality. Instead of operating in parallel financial universes, your transactions (whether in euros, dollars, or Bitcoin) flow through a single identifiable channel.

For finance teams, this means the end of reconciliation nightmares. For your customers and partners, it means one consistent payment destination regardless of their preferred currency.

How Business IBANs Work

The mechanics behind modern business transactions

A Business IBAN functions as the digital coordinates for your company's financial location in the global banking ecosystem. When properly implemented, it creates a frictionless path for money to flow into and out of your business regardless of currency type or originating country.

Sending and receiving payments

When receiving payments, your Business IBAN acts as a universal identifier that works across different payment systems. Clients simply enter your IBAN (and sometimes BIC code) into their banking platform, eliminating the confusion of different account number formats across countries.

For outgoing payments, the process works in reverse. You provide the recipient's IBAN, specify the amount, and Tap's platform handles the routing complexities behind the scenes. This standardisation prevents the common errors that lead to payment delays and rejection fees.

What separates Tap's system from conventional banking is the integration layer that works with both crypto and traditional currencies. When a client pays in Bitcoin, for example, you can choose to receive it as cryptocurrency or have it automatically converted to your preferred fiat currency before it reaches your account.

Banking networks demystified

Business IBANs interact with several key payment networks:

SEPA (Single Euro Payments Area): Covering 36 European countries, SEPA processes euro-denominated transfers typically within one business day at low fixed costs. Your Business IBAN automatically routes euro payments through this network without requiring a separate setup.

SWIFT (Society for Worldwide Interbank Financial Telecommunication): The backbone of international banking, SWIFT connects over 11,000 financial institutions worldwide.

Real-world transaction example

Consider a UK-based e-commerce business receiving payment from a German customer:

• The customer initiates a €5,000 payment to the merchant's business IBAN
• The transaction enters the SEPA network and arrives in the merchant's Tap account within hours
• The merchant can either keep the funds in euros or convert to GBP at their preferred timing
• If choosing to convert, Tap executes the exchange at market rates with minimal spread
• The funds become available for business operations, supplier payments, or withdrawal

This same process that once required multiple accounts, banking relationships, and days of processing now happens automatically through a single business IBAN. For businesses managing dozens or hundreds of such transactions monthly, the efficiency gains and cost savings compound significantly.

The ability to handle these complex financial pathways through one unified system represents the core value proposition of modern business IBANs - simplicity on the surface, sophisticated routing underneath.

Cross-border advantages that impact your bottom line

The practical benefits of a business IBAN become immediately apparent in cross-border transactions:

• Reduced rejection rates: correctly formatted IBANs virtually eliminate payment failures due to incorrect account details
• Faster settlement times: direct routing through the SEPA network for European transactions
• Lower transaction costs: fewer intermediaries means fewer fees eating into your margins
• Simplified compliance: clearer transaction trails for more straightforward reporting

Bridging crypto and traditional finance

The crypto market now represents a $2 trillion opportunity that many businesses struggle to tap into due to technical and operational barriers. A business account with Tap eliminates these obstacles by providing:

• Seamless conversion between crypto and fiat currencies
• Consolidated financial reporting across all currency types
• Regulatory compliance built into the platform
• Reduced exposure to crypto volatility through instant conversion options

For businesses cautiously exploring crypto acceptance, this hybrid approach offers a low-risk entry point without requiring major infrastructure changes.

Implementation without disruption

Setting up a business account through Tap requires minimal operational changes:

• Fill in the contact form to initiate a callback
• Complete the business  account set-up and verification process
• Receive your unique account with IBAN
• Update payment details with clients and suppliers
• Integrate with your existing accounting systems

The entire process typically takes less than 48 hours, with Tap's team handling the technical heavy lifting.

Is a Tap business account right for your growth strategy?

It's worth considering a business account if your company:

• Operates in multiple countries or currencies
• Needs to reduce payment processing costs
• Wants to accept crypto payments without complexity
• Are looking to streamline financial operations

As payment landscapes continue evolving, businesses that implement flexible, future-proof solutions gain a significant competitive advantage in customer experience and operational efficiency.

Explore how a business IBAN could fit into your financial infrastructure by visiting Tap's business solutions page, from where a dedicated account manager can discuss potential savings based on your specific transaction patterns.

The business world won't wait for outdated payment systems to catch up. The question isn't whether you need more efficient payment solutions - it's how quickly you can implement them.

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Anyone who’s been here long enough can tell you that the crypto space has long been dominated by headlines about dramatic price swings, viral meme coins, and speculative trading frenzies. While these stories grab public attention, they overshadow a far more significant development: the steady construction of digital infrastructure that's quietly reshaping how we think about money, ownership, and global coordination.

This infrastructure (comprising protocols, networks, and platforms) represents the foundational layer upon which the future digital economy will be built. Understanding its importance requires looking beyond the noise of market speculation to examine the technological bedrock that makes decentralised applications, global finance, and new forms of digital cooperation possible.

Some will argue that the journey from surface-level crypto awareness to deep appreciation of its infrastructure parallels the early internet's evolution. Just as few people in the 1990s understood TCP/IP protocols while browsing the web, today's crypto users often interact with sophisticated infrastructure without recognising its complexity or potential. So, let’s go there.

Understanding crypto infrastructure

Crypto infrastructure encompasses the foundational systems that enable decentralised networks to function. At its core, this includes Layer 1 blockchains like Bitcoin and Ethereum, which serve as base settlement layers. Layer 2 solutions build on top of these foundations, provide faster transactions and reduced costs while still maintaining the security of the underlying chain.

Stay with me; beyond the blockchain layers themselves, crypto infrastructure encompasses decentralised storage networks, oracle systems that connect blockchains to real-world data, cross-chain bridges, and smart contract platforms that enable programmable money and automated agreements.

Here, the comparison to internet infrastructure development resurfaces. Just as the internet required foundational protocols like TCP/IP for data transmission and HTTP for web browsing, crypto requires its own stack of interoperable protocols. Ethereum's introduction of smart contracts in 2015 paralleled the web's evolution from static pages to dynamic applications, enabling what we now call Web3.

This infrastructure exhibits composability, allowing different protocols and applications to interact seamlessly, thereby creating network effects where each new component enhances the utility of existing ones. 

For example, a decentralised exchange can integrate with a lending protocol, which connects to an insurance platform, all running on shared infrastructure and speaking the same digital language.

The role of infrastructure in real-world use cases

Let's take a look at perhaps the most mature application of crypto infrastructure: Decentralised finance (DeFi). Platforms like Uniswap have processed hundreds of billions in trading volume without traditional intermediaries, while lending protocols enable global credit markets operating 24/7 without geographic restrictions. Let the record state that these are not theoretical experiments: they're functioning financial systems serving millions of users.

Non-fungible tokens (NFTs), despite their heavy association with speculative art markets, demonstrate infrastructure capabilities for digital ownership and provenance. The underlying technology enables everything from supply chain tracking to digital identity verification, with applications extending far beyond collectables.

Looking at another example, Decentralised Autonomous Organisations (DAOs) showcase how crypto infrastructure can enable new forms of governance and coordination. Organisations like MakerDAO govern multi-billion-dollar protocols through token-based voting, while smaller DAOs coordinate everything from research funding to community management without traditional corporate structures.

Global remittances showcase the infrastructure's practical impact. Traditional international transfers often take days and attract significant fees, especially for users in developing nations. However, crypto infrastructure enables near-instant, low-cost transfers that bypass legacy banking systems, providing financial inclusion for underserved populations.

Looking further, storage networks like Filecoin and IPFS show us how crypto principles apply beyond finance. These systems create decentralised alternatives to centralised cloud storage, with cryptoeconomic incentives ensuring data persistence and availability without relying on corporate guarantees.

Finally (for now), oracle networks like Chainlink bridge the gap between blockchain systems and external data, enabling smart contracts to respond to real-world events. This infrastructure component is essential for applications ranging from crop insurance to prediction markets.

Why infrastructure trumps hype

Unfortunately, hype cycles are inevitable in emerging technologies. Let’s look at the internet again, which experienced multiple boom-bust cycles, from the dot-com bubble to social media speculation, yet the underlying infrastructure continued evolving throughout these times. 

Crypto follows a similar pattern: speculative excess grabs headlines, but fundamental infrastructure development goes on regardless of market sentiment.

→ Layer 1 blockchain innovation continues advancing despite price volatility. 

→ Ethereum's transition to proof-of-stake reduced energy consumption by over 99% while maintaining security. 

→ New consensus mechanisms and scaling solutions emerge regularly, addressing earlier limitations through technological iteration rather than marketing promises.

Take Layer 2 scaling solutions for instance, these have matured significantly, with platforms like Arbitrum and Polygon processing thousands of transactions per second at fraction-of-a-penny costs without making front page news. These developments solve practical problems that enable broader adoption, creating value through utility rather than speculation.

Infrastructure ensures long-term utility by focusing on fundamental capabilities rather than short-term price appreciation. A robust smart contract platform retains value whether tokens cost $10 or $10,000, because its utility derives from enabling new applications and business models, not from speculative trading.

Public blockchains: root access for everyone

Now, for public blockchains. These provide something unprecedented in digital systems: root access for ordinary users. In traditional computing, root access gives complete control over a system, typically reserved for administrators. Public blockchains extend analogous privileges to anyone with an internet connection, enabling direct interaction with global financial infrastructure without permission from intermediaries.

This represents a fundamental shift in digital sovereignty. Users can hold assets, execute contracts, and participate in governance without relying on banks, corporations, or governments to maintain accounts or process transactions. The infrastructure operates according to transparent rules encoded in software rather than opaque policies subject to change.

Shared governance emerges naturally from this design, as protocol changes require community consensus, enabling systems to evolve through democratic participation rather than top-down corporate decision-making. Now, token holders can vote on upgrades, fee structures, and resource allocation, participating in economic governance at a scale previously impossible.

On top of this, interoperability benefits from shared standards and open protocols. This allows applications built on public infrastructure to integrate seamlessly, creating network effects that strengthen the entire ecosystem. Or a wallet application that works across multiple platforms, a lending protocol that can source liquidity from various exchanges, and identity systems that can port credentials between services.

This also means that censorship resistance can become a practical reality rather than a theoretical ideal. Transactions can now execute according to protocol rules rather than institutional policies, providing financial access to users regardless of political status, geographic location, or social standing. This infrastructure has proven particularly valuable for individuals in countries with capital controls or political instability.

Limitations and criticisms

We cannot celebrate the highs without addressing the lows. Firstly, scalability remains a significant challenge for blockchain infrastructure. Bitcoin processes roughly seven transactions per second, while Ethereum handles about fifteen, far below Visa's theoretical capacity of 65,000 transactions per second. 

Of course, this comparison oversimplifies the trade-offs involved, as Layer 2 solutions and alternative consensus mechanisms continue improving throughput while maintaining decentralisation and security properties.

Another media-preferred limitation is energy consumption, particularly for proof-of-work systems like Bitcoin. What the media don’t reveal is that the narrative of excessive energy use often ignores several factors: Bitcoin mining increasingly uses renewable energy sources, proof-of-stake systems like Ethereum consume negligible energy, and the current financial system's energy footprint includes bank branches, data centers, and cash transportation networks rarely counted in comparisons.

Looking at governance, challenges can arise from the tension between decentralisation and coordination. Protocol forks like Bitcoin Cash and Ethereum Classic demonstrate how communities sometimes split over technical or philosophical disagreements. While these events can be disruptive, they also illustrate the system's ability to accommodate different visions rather than forcing consensus.

The Bank for International Settlements (BIS) has raised concerns about trust, scalability, and institutional integration in crypto systems. Their perspective highlights important considerations: public blockchains require users to trust cryptography and consensus mechanisms rather than institutional guarantees, scalability improvements often involve trade-offs in decentralisation, and integration with existing financial infrastructure remains complex.

However, many criticisms reflect misunderstandings about ongoing development. "Crypto is too slow" ignores Layer 2 innovations that achieve traditional payment system speeds while maintaining blockchain security guarantees. "Bitcoin uses too much energy" doesn't account for proof-of-stake alternatives or renewable energy adoption in mining operations.

Enter a new paradigm: the crypto economy

The crypto economy fundamentally shifts how digital systems create value. Traditional platforms extract wealth through data collection while users provide free content and attention. Crypto infrastructure flips this model: users own platform stakes, earn tokens for contributions, and participate in governance decisions.

This infrastructure operates without geographic boundaries. A Nigerian developer receives payment from a Swedish client through the same system enabling a Singapore DAO to fund global research. Smart contracts automate complex relationships: insurance pays out based on weather data, funds rebalance algorithmically, and revenue is distributed to thousands of contributors simultaneously.

The notion that "crypto will eat the digital economy" reflects the infrastructure's potential to reorganise systems around user ownership rather than platform extraction. This is proven by the fast rate at which decentralised alternatives are appearing, institutional blockchain adoption, and government exploration of digital currencies built on similar technologies.

Concluding thoughts

While speculation captures headlines, crypto infrastructure represents a quiet revolution in digital coordination and value transfer. Like the internet's lasting value came from enabling new applications rather than domain name speculation, crypto's impact will stem from infrastructure capabilities, not token prices.

This new infrastructure reshapes how we think about ownership, governance, and economic coordination in digital systems. It provides early examples of how future digital economies might grant users greater control and participation in the systems they use.

As this infrastructure matures, its influence will extend into areas we're only beginning to imagine. The quiet revolution of crypto infrastructure may ultimately prove more transformative than any speculative bubble, creating lasting change in how societies coordinate and create value in an increasingly digital world.

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In today's digital-first economy, businesses across all sectors are seeking innovative financial solutions to drive efficiency, enhance customer experiences, and unlock new revenue streams. One compelling strategy is the implementation of co-branded credit cards, which have been shown to significantly boost customer loyalty and spending.

Notably, 75% of financially stable consumers prefer co-branded cards for their rewards and benefits, indicating a strong alignment between these card programs and consumer desires.

By collaborating with financial institutions to offer co-branded cards, businesses can create tailored payment solutions that meet customer expectations and reinforce brand loyalty. This approach transforms the payment infrastructure from a mere operational necessity into a strategic asset that fuels growth.

For instance, the co-branded credit card market is projected to grow from $13.41 billion in 2023 to $25.72 billion by 2030, reflecting a compound annual growth rate (CAGR) of 9.74%.

Whether you're in retail, SaaS, or manufacturing, a tailored card program could be the key to transforming how your business engages with customers—and how you scale.

What is card program management?

Card program management encompasses the end-to-end process of designing, implementing, and optimising payment card solutions tailored to your business. From corporate expense cards that streamline internal processes to branded payment cards that enhance customer loyalty, these programs offer versatility that can benefit virtually any organisation looking to modernise its financial operations.

As businesses continue to navigate increasingly complex markets, those equipped with flexible financial tools gain a significant competitive advantage. The right card program doesn't just process payments—it generates valuable data, reduces administrative burden, and creates opportunities for deeper engagement with both employees and customers.

Why it matters

At its core, card program management involves overseeing all aspects of a payment card ecosystem—from issuing and distribution to transaction processing, reporting, and compliance. Modern card program management platforms provide businesses with the infrastructure to create customised payment solutions while maintaining visibility and control.

This matters because traditional payment methods often create friction points that slow business growth. Manual expense reporting, limited payment visibility, and rigid financial systems can drain resources and limit innovation. 

However, a well-managed card program addresses these pain points by automating processes, enhancing security, and providing greater flexibility.

Key benefits for businesses across sectors

Streamlined operations

Card programs dramatically reduce administrative overhead by automating expense tracking, simplifying reconciliation, and eliminating paper-based processes. This operational efficiency translates directly to cost savings and allows your team to focus on strategic initiatives rather than transaction management.

Enhanced Customer Experience

For businesses that implement customer-facing card programs, the benefits extend to experience enhancement. Branded payment cards can strengthen loyalty, while instant issuance capabilities meet modern expectations for immediacy. 

From hospitality to healthcare, organisations are using card programs to differentiate their service offerings.

Data-driven insights

Perhaps the most overlooked advantage of modern card program management is the wealth of data it generates. Every transaction becomes a data point that can inform business decisions, reveal spending patterns, and identify opportunities for optimisation. This business intelligence becomes increasingly valuable as programs scale.

Scalability and flexibility

As your business grows, your card program can evolve alongside it. Whether you're expanding into new markets or adding new product lines, a well-designed card program adapts to changing requirements without requiring complete system overhauls.

The implementation process simplified

Implementing a card program doesn't have to be overwhelming. The process typically follows these key steps:

1. Assessment and strategy development: Evaluate your current payment ecosystem and define clear objectives for your card program.
2. Platform selection and integration: Choose a card program management solution that aligns with your technical requirements and business goals, then integrate it with your existing systems.
3. Program launch and optimisation: Deploy your program with proper training and support, then continuously refine based on performance data and user feedback.

Real-World Impact

Across industries, businesses are leveraging card program management to solve specific challenges:

• Retail companies are implementing instant digital card issuance to capture sales opportunities.

•  Healthcare providers are using specialised payment cards to simplify patient financial assistance.
• Manufacturing firms are deploying corporate card programs with custom spending controls to streamline procurement.

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The common thread? Each organisation is using card program management as a strategic tool rather than just a payment method.

How Tap can help

Navigating the complexities of card program management requires expertise and the right technology partner. Tap's comprehensive platform brings together cutting-edge technology with industry-specific knowledge to help businesses design, implement, and optimise card programs that deliver measurable results.

Our solution addresses common challenges like regulatory compliance, security concerns, and integration complexities, allowing you to focus on the strategic benefits rather than implementation hurdles.

Ready to explore how card program management could transform your business operations and drive growth? Connect with Tap's team of specialists for a personalised consultation and discover the potential of a tailored card program for your organisation.

Article Framework: Card Program Management

Tone & Perspective

• Tone: Professional, informative, and authoritative.
• Perspective: Written from an expert viewpoint, educating businesses on launching and managing a successful card program.

Priority Headings & Structure

1. Introduction

• What is card program management?
• Why businesses need effective card program management.
• Overview of key stakeholders (issuers, networks, processors, etc.).

2. How Card Program Management Works

• Key components: issuing, processing, compliance, and risk management.
• The role of a program manager (self-managed vs. outsourced).
• The relationship between issuing banks, networks, and program managers.

3. Core Elements of a Successful Card Program

• Program Design: Choosing card types (prepaid, debit, credit), network selection (Visa, Mastercard), and branding.
• Issuance & Account Management: BIN sponsorship, account setup, and customer onboarding.
• Compliance & Risk Management: KYC, AML, PCI DSS, and fraud prevention strategies.
• Transaction Processing & Settlement: How funds flow through the ecosystem.
• Customer Experience & Support: Ensuring smooth cardholder interactions.

4. Self-Managed vs. Partner-Managed Card Programs

• Benefits and challenges of managing in-house.
• When outsourcing makes sense.
• How third-party program managers add value.

5. Key Considerations Before Launching a Card Program

• Business goals and revenue model.
• Regulatory and security requirements.
• Time-to-market considerations.

6. Trends & Future of Card Program Management

• Embedded finance & BaaS (Banking-as-a-Service).
• AI-driven fraud detection and risk management.
• Open banking and API-driven solutions.

7. Conclusion & Next Steps

• Recap of key insights.
• How businesses can get started with a card program.
• Contact a program management expert.

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