Bridging Traditional Financial And Blockchain Technology with PayAccept

kurniawan05 (42)in #blockchain • 4 years ago (edited)

Grasping the difficulties of managing and securing the crypto asset, PayAccept trying to ease the process by adding a layer of the interface. The product was designated to give easy access, help companies to efficiently manage crypto assets, and bridge them to keep using the crypto activities. All in all, this project proposes interesting ideas with its simple wallet management system that can access as many blockchains as possible. Interested? Check this explanation.

The Project That Intends To Bridge The Traditional And Modern Technology

It cannot be denied that the world is moving very fast with its advanced technology. With all that said, right now the financial aspect has started stepping over to digital finance and blockchain. However, in this transition era, many people are confused about the changes. Especially when talking about asset management. Taking it as consideration, PayAccept intends to bridge the two worlds and make it easier through an easy to use interface.

It can be said that the idea is very clear, which is providing a digital money wallet that easier to use. Friendly for everyone, whether you are a tech-savvy or just a newcomer in this crypto world. Namely, the existence of crypto money and its wallet are important components in the blockchain economy. Thus, people need to understand how to use it to efficiently bring the whole function of the digital asset.

In this matter the best solution PayAccept can offer is providing an interface that is intuitively easy to understand for everyone. At the same time, the product will be able to receive or transfer a multitude of cryptocurrencies while delegating responsibilities with the team. All is to keep the full custody of the fund and protecting it from any cyber-attack. The build will be considering the mass adoption of cryptocurrency.

The Use Of Blockchain In PayAccept

Here, the blockchain technology is incorporated as the financial instrument for every individual, the unbanked, and the businesses. It can be said that the digital infrastructure that intended to do mass adoption of crypto assets will need the blockchain as its backbone. With that said, the simple wallet management system is going to be deployed in the future. The wallet can provide conversion and cryptocurrency to fiat (EUR, USD, Try, RUB).

To help the process of conversion, the PayAccept is going to work together with their partner NEXT.exchange. The powerful combination has operated a successful exchange, wallet, and powerful blockchain. How they do that? If you ask this, the answer will be because the operation is under the brand name of NEXT.exchange, NEXT.coin, and NEXT.chain. Both the blockchain system will enhance and create great PayAccept liquidity over time.

At the same time, the blockchain protocol will be used to provide access to financial services. Blockchain technology can provide a multitude of financial services such as debt contracts, functionality, and exchange infrastructures. The collaboration of the user-friendly interface and the vast possibilities of services through blockchain technology will be a breakthrough in the insisting problems. Now you can exchange assets in such ease.

The Future Generations Of Electronic Money Institution

As you know the purpose and the intention of PayAccept, the project has the future promises of expecting mass PayAccept adoption by 2025. With the investment number reaching its soft cap, the project can become an Electronic Money Institution (EMI). In the form of EMI, the PayAccept can successfully be the part of Blockchain economy and bridge the traditional financial markets. This step is very important to get recognized as a fully functional institute.

Being an EMI means the project can handle all of the volumes between the crypto and fiat without any attachment to bank or payment processing. The project will be 100% independent. At the same time, there are way bigger potential activities as an EMI. You will get long-term PayAccept operation, defined and international bank accounts for your fiat, and backing up the stored value. All in all, the project and the users got bigger benefits from it.

PayAccept Mobile Application And Physical Point Of Sale

So how they will get the idea? Starting from the smaller step, the PayAccept intends to connect organizations to digital banking with the power of blockchain technology. The idea will be deploying PayAccept mobile application and physical Point of Sale (PoS) devices. Here, the applications will be developed with numerous features and great Artificial intelligence to support all the operations along with fulfilling the user-friendly aspect.

There are some functionalities and AIs you can expect from the applications. The first is the single interface trade fiat and cryptocurrency. Allow the users to freely exchange assets without any denomination. It also has analytic tools that show the user all the insight of their asset use and spending on their wallet. There are also Alerts, Mobile PoS, light and dark mode, and a private key that will enhance the security of your crypto assets.

At the same time, the application also provides vast payment that complemented with ultimate liquidity. It can convert all payments in over a thousand currencies any time you want. You will also have a payment card that can be used to pay or withdraw from ATMs. Another method that will boost the security of your assets is the cold storage system. It can be said that all the digital money or assets will be stored in a secure offline way.

PayAccept In The Business Eyes

You should understand that the main idea of the project is to bridge the traditional financial world with the blockchain system, at the same time providing a great interface for everyone. In this case, you can say that even the non-savvy tech will be interested in this project. Including the business owner (big corporations or small /SMEs). With the easier app and product, the PayAccept will connect bigger business reach, processing credit cards, and digital money payments.

Or to be blunt, the project can open a new door to join the digitalized world. In this case the payment and the assets. Basing on the application functions, you can see that the PayAccept apps bring a lot of benefits for the business. The first is the joint business accounts which allow the users to make a virtual joint with multi-asset accounts. As a businessman, you will also get the benefit of easy set up for businesses that provide bigger functions.

The app can host checkout, provide payments buttons, and embeddable invoices. At the same time, the app will have numerous integration and plugins. They can establish a network of agents to handle deposits and withdrawals. It also comes with a safe loan or Defi functionality. The payment processor and the AI-platform will facilitate if the business can have a loan plus able to get the payback. Which is important for both sides.

Payment Of Sale Points

With the SMEs as the target, no wonder if the need to help and pique their interest. In this manner, the PayAccept will deploy what it called as Payment of Sale point. The basic idea is to make a crypto payment that also available for merchants. In this case, you can name restaurants, convenience stores, or retail outlets as their targets. PayAccept will deploy a free-when-used Point of Sales (POS) devices for them.

While the purpose is to transform the traditional transaction into digitalized one, the use of the device will also be very beneficial in the future. Let's say that when most people are using cryptocurrency, then the place should have the device to complement it. In this way, the POS machine will help to convert the crypto money and eventually match with the ever-growing technology. Now all participants can join the global blockchain with cryptocurrencies.

Tokenomic Of The PayAccept

If you think about it, the idea to provide a user-friendly cryptocurrency wallet will mostly hold great potential. Especially with the grand idea to create an EMI that will surface along with the other crypto institutions. This is such an interesting project. However, worth noting that the blockchain project will move along with the plan if they can reach the soft cap (1M PAY). In this case, the token sales of PAY (PayAccept token) will be very determining.

The crowd sale of this project is started with the pre-ICO from June 12th to July 1st, 2020 with extra 50% bonuses. After that, you can expect the IEO phase on the following date from July 1st, 2020 to the first of September 2020. The date may or may not be extended depending on the progress. If you are interested, the token price in ETH will be 1ETH for a thousand PAY token. In case the soft case is not reached, the project will not become EMI just provide digital wallet service.

All in all, PayAccept is another project that has very big intentions. With the idea to provide a more user-friendly app or cyber wallet, it intends to bridge the overwhelming blockchain system and the traditional financial. Especially with many banks or businesses that went with digital money. This particular idea also brings a great solution for the non-tech savvy people out there. This making it worth to invest as the future potential EMI.