JOYS- A DIGITAL ECOSYSTEM TO MAKE PAYMENTS EASIER FOR RETAILERS AND CONSUMERS

in #bitcoin6 years ago

Every day we need to buy goods and services for fulfilling our daily needs. And to buy these essential goods we pay using the money or credit card. Money or credit card is a convenient medium if you pay for local goods or commodities. But, whenever you are going to pay cross-border payments the real problem arises. During cross-border payments whenever you are going to pay in other currencies then either you have to take the help of money transfer services or the bank wiring procedure where sometimes you might have to pay a high amount of conversion charge for purchasing and sending other FIATs. That is why the present transaction system is lengthy and inaccessible to the majority of the population of the world. This situation can be changed if digital currencies can be made available in every marketplace as liquidity. The digital currency system has some competitive advantage over traditional FIATs or paper monies. It is flexible to use, easy to store, do not need any physical appearance, has real-time value in the currency market and can be converted easily into any type of currency just by using the digital cryptographic coding. The digital currency with cryptographic coding is the very reliable medium of transaction and efficient too. But, it is a matter of regret that it is still not much popular among people as a method of transaction for buying or selling goods or commodities. As a result majority of the people all around the world are still deprived of the benefits of a crypto-payment method for commodities. That is why to make crypto-payment for commodities available to all the JOYS ecosystem has emerged. This is ecosystem which has its own crypto-wallet and payment mechanism for making the daily shopping easier, smoother and convenient both locally and globally. And in this article, I am going to present the main purpose of JOYS ecosystem and its working mechanism to create a convenient payment gateway for commodity-based trading.

WHAT IS THE MAIN OBJECTIVE OF JOYS?
The online payments services provided by banks and financial institutions are very difficult to manage. Credit cards charge a lot of money as service fees and also are not available for everyone. But, almost every people now a day use smart-phone for his/ her daily communication purpose. And as the cryptocurrency wallets can be availed as smart-phone apps, therefore it is more convenient to use digital-wallets rather than credit card for paying for daily needed commodities. Moreover, the cryptocurrency has high liquidity attribute for which it can be exchanged with real-time commodities similarly to the traditional FIAT or paper money. That is why the JOYS aims to create a simple, flexible and secure cryptocurrency based ecosystem which can be used to transform digital currencies into real goods and has set this aim as the main objective for their project.
If you have more questions about JOYS ecosystem please visit, https://joys.digital/en/. Or, you can read their whitepaper from, http://download.joys.digital/docs/JOYS_White_Paper-EN.pdf.
JOYS ECOSYSTEM AND ITS TECHNOLOGICAL INTEGRATIONS
JOYS ecosystem is a cryptocurrency wallet based ecosystem where the wallet is the main source from which cryptocurrencies can be sent to retailer’s digital wallet for paying online payments. The purpose of this ecosystem is to make the cryptocurrency payment facility available for everyone and to make this system available for daily shopping purposes. And for this cause, the team has integrated several states of the art technologies within this ecosystem, which has revolutionized the world financial structure in many ways. These technological implications are as follows,

  1. Blockchain
  2. Smart-Contract
  3. Cryptocurrency
  4. Mobile Application
  5. JOYS Digital Wallet
  6. Blockchain
    Blockchain technology is a very essential component within JOYS ecosystem. The advantage of blockchain is it makes a database system completely decentralized and encrypts them with sophisticated codes by placing individual data type within individual blocks and makes them inaccessible by the third party entities. This is a revolutionary technology for which the digital currency payments get stability better than before. Blockchain’s decentralized network makes every data untraceable by hackers and creates a safe and secure environment for data storage. This technology is specially designed to protect financial data and as JOYS uses financial data as a core component of its database, so the blockchain is undoubtedly the most important security measure for this ecosystem.
  7. Smart-Contract
    Smart-contract makes all kind of contracts between retailers and consumers self-executable. All conditions of the contracts are pre-set by analyzing the need of both parties (retailers and consumers) and will be formed only when all the contract condition are met. This is one of the factors for which the transaction system within JOYS is time efficient and smooth.
  8. Cryptocurrency
    JOYS has its own cryptocurrency for facilitating unique liquidity within its ecosystem. The cryptocurrency name is JOYS and it is an Ethereum built token for secure cryptocurrency transaction within the platform, and to make all platform services cheaper and easy to avail.
  9. JOYS Application
    JOYS’s application name is Reticule Joys. This app is available in Windows and MacOS for free and designed for helping miners and users to fulfill their needs. The application uses different tools for mining in the JOYS network with minimal efforts. The tools for mining are as follows,
    A. Geth
    B. Mist
    C. Etherminer
    D. Claymore
    E. Genoil
    To know details about these tools and their functionality please visit, https://joys.digital/en/technology/.
  10. JOYS Digital Wallet
    JOYS ecosystem has its own digital wallet facility. This is the most important component of the JOYS. All kind of payment functions are regulated by this wallet and whenever someone wishes to pay their payments for commodity purchasing they can use this wallet for completing payments in terms of cryptocurrency. The wallet security is highly maintained using advanced encryption method and the wallet network is ensured to be safe by utilizing Ethereum Blockchain facility.

HOW JOYS ECOSYSTEM HELPS TO MAKE PAYMENT EASIER?
JOYS uses a blockchain based smart-contract integrated ecosystem. Every user whether he/ she are a consumer or a retailer has to register within JOYS to use the JOYS facilities. After registration, the users will be provided with user wallet developed by JOYS and gives them the opportunity to store their cryptocurrencies within it. Whenever a consumer wishes to buy a commodity than he/ she just have to choose the item they want and then they open their JOYS wallet and select payment option. After selecting payment option a QR code generates on the consumer’s digital wallet interface and by scanning this QR code registered retailer can receive his/ her payments easily from consumer’s JOYS wallet. Very simple indeed!
JOYS is a simple and easy gateway for commodity purchasing using cryptocurrencies. This is a secure, simple and transparent method of payment which is going to create a hassle-free ecosystem for crypto-community of the world.

Have more queries regarding JOYS, feel free to visit and subscribe to the following web and forum links,
• Company Website: https://joys.digital/
• Whitepaper Link: http://download.joys.digital/docs/JOYS_White_Paper-EN.pdf
• YouTube Channel: https://www.youtube.com/channel/UCdfk_xA95zK3XiD7JnKD1AQ
• BitCoinTalk Thread: https://bitcointalk.org/index.php?topic=3465786
• Bounty platform: https://bountyplatform.io/campaign/joys
• E-mail: [email protected]
• IcoBench Rating: https://icobench.com/ico/joys
• TrackIco Rating: https://www.trackico.io/ico/joys/
• Telegram Group: https://t.me/joys_digital
• Facebook Group: https://www.facebook.com/JoysDigitalPlatform/
• Twitter Pages: https://twitter.com/Joys_digital
• Golos pages: https://golos.io/@joys.digital
• Medium Pages: https://medium.com/@joys_digital
• Github: https://github.com/Joys-digital
• BitcoinTalk User Name: lolaguffey
• BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1272490

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