Cosmose AI, a company that uses AI analytics to track in-store foot traffic, is partnering with Near to build a payment system that allows users to shop with crypto at low transaction fees. As part of the partnership, Near Foundation has made a strategic investment in Cosmose, lifting the company's valuation to $500 million.
Cosmose's shopping discovery app KaiKai settles payments in its native stablecoin Kai-Ching, which runs on Near's network. The app creates a crypto wallet for users, who can top up Kai-Ching with fiat currencies.
Moreover, Cosmose and Near are working to return the control over personal data back to users by migrating user data onto its blockchain and building out a system where users can see how the firm is tracking them. The goal is to store user data on their phones using edge computing and let people decide how they want to be tracked to receive more or less precise product recommendations and rewards.
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