Wed, 06 Apr 2022 16:00:33 +0000
In November of 2021, the crypto market cap reached a peak of 2.8 trillion USD, putting it on par with Apple’s market cap and bigger than Microsoft’s, sending a clear message to the world; Crypto is here to stay. Despite this massive achievement, there has been significant push-back from institutions and banks around the world clinging tightly to their old notions of what defines “money”.
These regulating bodies want to strike a balance between centralized and decentralized finance (DeFi). Several countries have already accepted crypto as legal tender, and others have either implemented or begun to implement their own Central Bank Digital Currencies (CBDCs). While this is a step in the right direction, the infrastructure to join both the DeFi crypto and centralized CBDCs is severely lacking. This prevents corporations and businesses from being able to truly adopt cryptocurrencies in a viable manner.
Businesses need an easier way to adopt crypto from a large-scale economic standpoint, as current DeFi products and services are not catered to, or designed with, big businesses in mind. In addition, the learning curve for crypto is steep for both individuals and corporations alike. Until these differences can be reconciled, crypto will struggle to break through that “ceiling” and attain wide-scale adoption.
Parrotly Finance Inc‘s mission is to fill that void and bridge the gaps that currently exist between decentralized crypto usage and the centralization needed for large businesses and corporations. They also strive to reduce the learning curve needed to be able to partake in the budding crypto space, allowing the masses to embrace the change.
Parrotly Finance envisions a world where businesses and individuals alike will no longer need to choose between centralization and DeFi, but to have a hybrid of both that will pave the path to the future of finance with the combined benefits of centralization and DeFi.
One of the first products currently in development that will enable the first steps towards this vision is the Flock Wallet. It is a proprietary cryptocurrency wallet that is unlike any other available DeFi crypto wallet. The Flock Wallet combines the benefits and structure of traditional bank accounts, with the innovation of DeFi wallets to cater to large businesses and organizations requiring the functionality of a standard business bank account:
A beta of the individual core wallet functions is targeted to be released in Q4 of 2022 and will incrementally roll out additional features and functionality in segmented upgrades to the Flock Wallet, bringing a truly unique product to businesses and individuals alike.
Parrotly Finance Inc has already begun phase 1 of their development, releasing an NFT series that provides their members exclusive real-world benefits and discounts with Parrotly Finance’s partners to test pilot alternative utility cases for NFTs. The next step Parrotly Finance is taking is to release a DeFi token called PBIRB. This token will serve as the native currency used in Parrotly Finance’s products and services.
PBIRB is a deflationary cryptocurrency and burns 2% of every sell transaction to reduce its supply over time. The presale for $PBIRB begins April 16th and ends April 19th, at which point the entire remaining supply will be paired on the polygon network to Matic, and the liquidity pool tokens will be burnt to ensure that the liquidity is never removed. PBIRB token was also audited both prior to, and after deployment. More info of the token can be found on Parrotly.Finance website.
In summation, Parrotly Finance Inc has identified an area of strong need in both the centralized and decentralized spaces and is working to solve those needs with easy-to-use and easy-to-understand products and services.