ALCHEMY PLATFORM: PROVIDING A NEXT PAYMENT METHOD THAT BASICALLY UTILISES BLOCKCHAIN TECHNOLOGY SYSTEM.
During the early days, payments or transaction processes were done in a traditional form which involved the exchange of a commodity with another commodity of similar equivalent. Later came the introduction of exchanging this commodities with monetary equivalent which also paved way for the introduction of the e electronics form of payment that involves e-electronics compatible cards.
The electronic cards ushered in a new form of payment enterprise which was solely centralised meaning that the decisions as well as reforms involving the enterprise are undertaken by the central body behind the whole concept of the platform.
Some of these reforms are unfavourable to customers but who cares when the board or body involved is all about generate revenue. They charge users tremendously for using certain services and also for certain services they render to them.
Therefore developing a platform with a different concept about the already centralised payment method became paramount and the only way out of was identified to be blockchain technology system.
With blockchain technology system, the alchemy platform will not only create a platform that will be decentralised unlike the centralised traditional payment platform. With blockchain technology system, the alchemy platform will launch a payment system will be secured, flexible and fast while compared to the traditional payment method and to make this happen, the alchemy platform will focus and deliberate on the already existing problem facing the current traditional payment method, and improve on them even better.
WHAT IS ALCHEMY?
Alchemy is a platform whose main vision is to use the blockchain technology system to create a global payment solution to the already existing problems in the traditional electronic payment system by helping provide an open source protocol as well as rapid development of product for the partners of the system while giving them access to a payment system that is fast, secure, convenient, fast growing as well as flexible by incorporating certain key components which includes: blockchain technology system, smart contracts and consensus mechanism.
FEATURES OF THE ALCHEMY PLATFORM.
I. Lighting network technology to help acheive basic real-time transaction of already existing electronic payment methods.
II. A comprehensive support system for all the various cryptocurrency payments.
III. A self evolving communities as well as an open ecosystem to basically attract more or numerous innovative technology companies to join and promote the development of the industries public chain network. Etc
The platform incorporated all these features because they basically believe that any payment method that will be able to complete solely with the already existing payment method must be more convenient, safer as well as more secured.
ALREADY EXISTING PROBLEMS WHICH THE ALCHEMY PLATFORM FOCUSES ON SOLVING.
Due to the fact that the already existing payment platform operates on a centralised basis and solely controlled by the centralised industry giants, have led to numerous number of issues that are as follows:
I. Transactions that involves cross border usually attract costly or expensive service costs.
II. Trust is considered as an important watch word onboard the platform.
III. It usually takes longer time to resolve issues logged on the platform.
IV. There is high risk of security as well as privacy issues.
Have considered decentralisation to be the only way out of the above stated problems the alchemy platform has mapped out the following steps or methods as means of obtaining full decentralisation within the platform and it involves:
I. Decentralisation of currencies
II. Decentralisation of all the platform's technical infrastructure.
III. Decentralisation of the platform's operational mechanism
THE ACH TOKEN
The ACH token will be acknowledged by the alchemy platform as the general token to be used by the Alchemy system. The ACH will basically have a total volume or supply of about 10 billion and it will be designed to be used for various services on the alchemy platform.
FOR MORE INFORMATION ABOUT ALCHEMY PLATFORM.
Join the Telegram Group: https://t.me/alchemy_official
Follow on Twitter: https://twitter.com/Alchemygps
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Writer’s Bitcointalk Username: Aakay
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