U.S. Payments System Gets Another $2 Billion Deal: Federal Reserve
By Jessica Taylor The Federal Reserve has awarded a $2 billion contract to a company called ZapPay, which is based in Chicago.
ZapPay uses blockchain technology to provide secure, private payments that can be made through smart contracts, blockchain-based software, or a combination of the two.
The payment service is based on the Zcash protocol, which was developed by Zcash creator Craig Wright and released by the same company that was behind Bitcoin.
Zappay, which has offices in the United States, Germany, Singapore, Japan, and Hong Kong, is already available to customers around the world.
Zap, which operates in many countries, is the only payment system with built-in decentralized escrow.
Zap payment system uses blockchain to create a decentralized payment system that can only be accessed by one party at a time.
Zap is currently being used by merchants in the U.K., Germany, Japan and Hong