Graft - An Open Source, Not for Profit, Global - Decentralised, BlockChain Payment Gateway and Processing Platform (for Everyone)

When was the last time you paid for your groceries using crypto ?

I'm not saying it can't be done, but I'm the only person I know who can do it. I'm a seasoned CryptoNaut and it took a long sequence of events for me to be able to do it. A steep learning curve, lots of research and a few trial and error applications. Most people probably aren't ready (or crazy enough) to navigate cross platform technology with complex private keys just so they can buy a coffee when Litecoin peaks on a tuesday morning.

Fees & then Some

There are fees at every stage of the process to pay with crypto and it can take days to complete the series of transactions required to extract and pay for a fiat transaction for everyday stuff, like paying for lunch. I have been on the journey and it was such a long one to complete, I even wrote an article about it. Here's the photo of my first ever lunch receipt (or anything for that matter) paid for in crypto. A simple Green Curry at Saiphin's Kitchen in Hackney, East London. It was only a few months ago.

A Solution

It's about to get a whole lot easier and that's reason for celebration. Graft have developed a bleeding edge solution based on Monero (cryptonote) which uses proof of work and proof of stake on a series of SuperNodes. It has Cryptonote's security features and a rep system, loyalty rewards, free transfers and many more standout features. It may just provide one of the crucial keys to the BlockChain Revolution's success. An open-source, Blockchain-based, global decentralized payment gateway and processing platform for everyone.

Mind The Gap

It all comes down to bridging how we spend money to buy the things we need. Food, fuel, clothes and perhaps most importantly, that essential mocha-choca double shot, hazelnut soyaccino from The HipsterBeard Cafe on the way to the office, (which may be your office) in the morning.

Why Change Something if it's not broken ?

It is broken. They system we rely on using card technology as it stands today, is out of date. It may have a lot of customer trust and it's relatively easy to use, but it's expensive to run, it's cumbersome to administrate and it's about as secure as a spaghetti collander (with extra holes). We pay over the odds for the privilege of this essential and convenient service. The Cryptonote based Blockchain is cheap, secure, efficient and it's tomorrow, (today).

Open Source

Graft is not for profit and open source. Both very attractive features in the building of the new economic landscape. Graft have also carefully emulated the original payment protocols so that it actually works in the real world and feels normal. Perhaps their masterstroke. It also, as (you might expect from a bleeding edge BlockChain project) possesses an enviably high level of (cryptonote) security, untraceablity, and an extra protocol which means not even transactions are publicly viewable. There's a testnetwork beta so you can get familiar with Graft. CLICK HERE

Merchants Need a Reason

Various new payment methods have begun to emerge in recent years which are quicker, more effective and give us as customers more control over our own cashflow and data. For many smaller merchants, adopting new payment technology seems too much investment for small gain but with Graft, no upgrade will be required, so even The HipsterBeard Cafe, (which in actual fact is the famous, E5 Bakery), will be able to participate.

Full Integration

I could, in theory pay for my specialist coffee using SamsungPay system with my Smartwatch, which is connected to my phone using Bluetooth. There is also Android Pay, Applepay and a dazzling array of otherpay payment systems on offer. (I have bought stuff at a design fair with my debit card using the merchant's iphone, which to be honest felt a bit weird) but currently all of these methods dovetail into the old system, which as mentioned has a cumbersome back end, is arcane, not really very secure and which we all pay for in increased fees. Graft will envelope all of these technologies and allow you to pay at a normal everyday EPOS, effectively doing away with the need for a third party (the old card based system). That's pretty joined up thinking.

The Team

A Revolutionary Overhaul of the Global Payment System needs more than one star striker. Graft has a whole team of big hitters to field. This is essential for large format crypto-projects and a mark of it's maturity and accountability in the marketplace. The team contains former founders and key players from the crypto scene and importantly, they have previously worked with some of the biggest companies in the Global IT industry. They are also actively looking for developers with similar experience to join their team. A great opportunity for the right person. How could you resist? Just look at them. Cute as puppies, Awww.

ICO starts 18th January

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This article is not an endorsement of GRAFT. I recommend all investors to conduct their own research and due diligence before investing in any business, crypto or otherwise. Remember investments can go up as well as down.

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