A New Transaction Expert Called Alchemy

The focus of the payment industry is growing progressively and is found to be making waves each year. The remittance industry sends & receives a whopping sum of $529 billion as of 2018 and a whopping sum of $489 billion in 2017. That means that the remittance industry saw an increase of 9.6% during the year 2018. According to the World Bank, the United States alone has the highest remittance outflow peaked at $462 billion, followed by India $79 billion, China $67 billion, Mexico $36 billion, Philippines $34 billion, and Egypt $29 billion. This is so much money! And it is very expensive to send them. Over the years, systems and platforms are being developed to make it easier and less complex to send out money. These platforms have tried their best to ensure safe transactions. But it could be better. There's a new focus sprouting out now in the remittance industry called the cryptocurrency technology solution. This is a process implemented via blockchain technology to make payments. This solution has proven to be able by the progression of the blockchain industry over the years. The focus of the remittance industry should be the use of blockchain technology.

Alchemy is a leading global digital expert when it comes to harnessing the power of blockchain technology to render payment solutions. The goal of this group is simple, to design a suitable payment solution using the consensus of a community setting, which would further build a guaranteed powered infrastructure and decentralization that will boost the usage of cryptocurrency in our lives.

Alchemy envisions a scenario whereby it is backed by intelligent contracts and consensus functions of blockchain technology. Alchemy would be able to make industry merchants accept the need for a new focus on performing a transaction using the power of blockchain technology. Alchemy would achieve this decentralization goal by integrating decentralized technical structures, cryptocurrency wallets, good governing mechanisms.

Key Features

Cross-Border & Cross-Chain Payments:
Perform transactions when online and offline. You don’t need an internet connection to carry out transactions using Alchemy.

Scaling solutions:
Alchemy uses the best payment systems available. E.g., Lightning network, Raiden network, State channel network, Cross-chain payments, and others.

Transaction models:
Various payment models are put in place to aid the global industry's needs further.

Machine learning and AI technology:
Alchemy values the security of its clients; that is why machine learning & Al technology are implemented in the Alchemy app.

Self-Governing Community:
A self-governing system is put in place to lead the ecosystem to the expected end further.

Incentives:
Alchemy is more than a resource; incentives are sort for around the ecosystem to encourage activities.

Alchemy has sorted out for the following measures and models to reach decentralization:

Decentralization in currencies.
Decentralization in technical infrastructure.
Decentralization in operational mechanism.
Challenges Faced When Performing Payment In The Known Traditional Way.
The electronic problems that are encountered daily can be tiring and expensive.

1. Transactions outside the country walls are expensive:
   When transferring money to other countries, fees required are mostly on the high side. These fees are charged by the remittance operators.

2. The top centralized giant does not provide reliable safety for services rendered.

3. A large number of transactions can't be verified because both parties fail to trust each other.

4. The disputes encountered during transactions takes much time.

5. Security and privacy leakages.

Alchemy wishes to change this remittance problem during a transaction. Alchemy will assist students who face problem changing local currency. Alchemy APP is also good to use when you want to change your local currency with money changers via their QR code. Note this is done online.

Alchemy adopts various core demands below

Assistance for complexity during transactions.

Assistance for complex account structures.

Assistance for difficult payment methods.

Contracts should become easier to use and also meet the required scalability.

Alchemy is willing to do all it can to salvage the situation on the ground faced by people who want to perform transactions. Transaction would be made easy when key players buy into the idea of harnessing the advantage given by blockchain technology to proffer payment solutions. Alchemy is the best project to invest in. Your investment is safe using this platform. Be on the winning team today.