NUPAY: AN INNOVATIVE CRYPTOCURRENCY PAYMENT INFRASTRUCTURE PROVIDING ANOTHER DYNAMIC PARADIGM

anderhart (43)in #blockchain • 5 years ago

INTRO:
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For my retinue of blog followers today I am excited because I am writing about an infrastructure entrenching another dynamism in cryptocurrency payments positively disrupting the cryptocurrency ecosystem. First, let us take a look at some of the crypto challenges.
PROBLEMS OF MODERN DIGITAL FORM OF MONEY
Bitcoin, as the first digital money, appeared over 9 years ago. Over the years, this very innovative technology has proven its dependability and protection, gaining huge capitalization and showed good volatility. However, in spite of the hypes, the general adoption has remained a pipe dream
Basically, this is associated with low-scalability and speed of carrying out business dealings with popular digital forms of money such as Bitcoin or Ether, and similarly a small number of resources, knowledge and reputation of young projects that would position digital currency as a convenient calculation tool for everyday function.
Some business entities follow the path of developing bank cards and accounts secured with a digital form of money, someone sets up terminals for the purchase and cash out of the digital form of money and so on. However, today, there is still no coin, which has become a common means of payment.
INSIGHTS OF NUPAY
NUPay infrastructure basically is leveraging on blockchain and is a commercial centre that guarantees sincerity and clarity in dealings of exchanges carried out on the infrastructure. Straightforwardness of exchanges guarantees that buyers can care more for their benefits and in this way abstain from fraudulent rip-offs. The Blockchain innovation apparently has entrenched incredible steps giving useful answers for protracted issues that have tormented humankind. Taking a cursory look, Ethereum and Bitcoin have realized creative thoughts and ideas that have been of such a great amount of assistance to mankind, invariably, money and smart contracts that have facilitated account, assembling, wellbeing and different areas of the economy.
What's more, it is a money related payment infrastructure that will help in interfacing both the shippers and the clients in the framework. In a bid to help facilitate this project to a fruitful one, they have unveiled their very own local coin (TPCT) that will be utilized in the infrastructure as a vehicle of business dealings. Presently NUPAY has an alliance to handle an offline and online store in Korea, no doubt this will contribute in no small measure to bolster the versatility of the token
SOLUTION FROM THE INFRASTRUCTURE
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The NUPAY project, based in South Korea, plans to remedy this situation. In order not to break the wood and prevent the mistakes of their predecessors, the development team conducted a large study of many other crypto startups trying to incorporate a digital form of money into everyday use.
The creators of the infrastructure decided that they should not concentrate on any one direction or the scope of the digital form of money, but to develop everything at once.
It is expected to turn into an ideal payment infrastructure for ordinary payment settlements. It offers different payment strategies and furthermore to support clients it gives compensating points, reward vouchers and cards on each procurement of commodities. Here clients are made to pay 2% entire aggregate sum of commodities whose addition will be amassed as coins in NuPay wallet. These limited time tokens will urge clients to utilize the token in paying and in this manner get profits from the innovative blockchain network.
Execution of blockchain innovation in payments framework will improve straightforwardness and brings security. It additionally cuts superfluous commission charges. This gives better favourable position over the customary payment framework.
Furthermore it gives clients an immense number of decision for buying products in an expansive system of stores. It is imperative to take note that NuPay client support will give direction on the best way to spend tokens for purchases. So as to get help from specialized help group clients are furnished with choice in the menu area of the NuPay application.
THE TCPT TOKEN:
The developers of the infrastructure have instituted a token referred to as TCPT. This is utilized to procure commodities including services via the infrastructure. Interestingly, the TPCT token will invariably address the issue of digital money and its seamless utilization via the Nupay collaboration in consonance with massive payment outlet companies, gift voucher including reward point backers and on disconnected vendors.
TPCT token will be utilized as an exchange declaration when the client purchases an administration. Each exchange procedure will be dealt with by smart contracts and cross-affix facilitating innovation to guarantee the validness, legitimateness, and consistency. TPCT token will be utilized by the purchaser and vendor for executing; it will most likely accomplish an ongoing settlement and wipe out the hazard and cost required with the typical method for payment on existing infrastructure.
CONCLUSION:
This is the future of the crypto digital payment exchanges atop the blockchain infrastructure. The infrastructure is entrenching another paradigm that provides another frontier in the digital payment infrastructure ecosystem.