GRAFT- A REVOLUTION IN PAYMENT PROCESSING INDUSTRY!!!

I came across this mind-blowing technology today, which is a solution to many of our day to day problems! Have you ever felt tired of carrying cash and ‘exact change’ or forgetting credit and debit cards at home? Or came across the hazel of cash and cards being stolen or lost? Or paying lot of transaction fees and interest to the bank? Here comes the solution- GRAFT

(Image created and edited)

WHAT EXACTLY GRAFT IS???

‘Global Real-Time Authorizations and Funds Transfers (GRAFT) is a global, open-sourced, blockchain-based, decentralized payment gateway and processing platform that anyone can use. Any buyer and merchant can use GRAFT in a completely decentralized and inexpensive way.’

Basically, through GRAFT we can use crypto instead of cash or cards to make payments or products and services. Crypto is ruling and revolutionising the world’s currency.
Well many of you might be thinking that it is such a hazel to accept new technology, it may be difficult to use, probably non-profitable and so on!!! But, as a matter of fact it is more trustworthy easy and profitable way of payment networking.
Some of the technical limitations and business flaws of the existing cryptographic payment systems compared to traditional electronic payments systems

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WHAT MAKES GRAFT UNIQUE?

There are certain factors which makes GRAFT unique as it gathers trait of different technologies to create something valuable and enhanced than its original form. Some of its unique features are-
1.Fungible and fast
2.Safe and immutable like a check book
3.Compatible, with fast transaction authorizations and credit facilities like credit cards.
4.Decentralized, without a single point of control

WORKING OF GRAFT!!!

As crypto now can be used in day to day life, which will attract many miners and crypto traders. According to me this technology should attract everyone out there. Because this will revolutionize entire world’s economy. It’s a ‘Decentralized, Real-Time Credit, Debit, and Crypto Payment Processing Blockchain. The supernodes collectively maintain the network using GRAFT’s combined Proof of Work / Proof of Stake algorithm.’ Certain principles of GRAFT’s working are-
I). PoW / PoS / PoI working together
II). Transaction Privacy and Untraceability as the Basis for Payment Blockchain
III). Real Time Authorizations
IV). Specialized Blockchains
V). Open Platform for Service Brokers.

MERCHANT TOKENS:- Merchant tokens-Not even the buyers but the merchants will also get profit from this platform. they can create smart contract that allows creating a private token that belongs to its owner. like gift certificates, loyalty rewards, or store credit program without any fees, registration or authority. They will be able to sell and accept gift certificates on their website for local currency. Moreover, they can convert it into cash too with many benefits

(Image source:https://www.graft.network/)

BENEFITS OF USING GRAFT!!!

There is profit for merchants, buyers and miners too which are enlisted in picture below. As it has more benefits so it is profitable to accept. A feature ‘VChain allows creating a virtual chain of stores so multiple points of sale can be connected to the same private “virtual blockchain.” Buyers can use Vchain to link multiple wallets so they can manage multiple accounts and move funds between those accounts without paying fees. This feature is useful for family and corporate accounts.’ Is beneficial too!

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HOW TO USE GRAFT???

Graft can be installed on both Verifone and Ingenico payment terminals. moreover the Graft application can be installed free of cost on these payment terminals and this enables store owners to get paid through crypto. 'It does not charge the customer, as the fees are paid for by the merchant. These fees are a fraction of what average credit companies charge'.
we can easily install the apps through bellow mention links
https://www.graft.network/mobileapps/
https://www.graft.network/cryptofind/
https://play.google.com/store/apps/details?id=org.graft.pos
https://itunes.apple.com/us/app/graft-mobile-point-of-sale/id1354423996?mt=8

(Image source:https://www.graft.network/)

IMPACT OF GRAFT ON SOCIETY!!

Graft integration will definitely bring many of us close to crypto. it will change our traditional mindset related to crypto as it will be accepted widely. most of the people will understand the way it works and adopt it for their own benefits. moreover when people will understand that it is more flexible in use and is beneficial than using cash or card as a payment option they definitely will shift. however,Graft technology is a revolution in payment processing industry!

Now in order to understand a little more about Graft and its apps have a look at this video.

Appreciation to the creative team is necessary as they created such an amazing technology.

To know more about Graft
https://www.graft.network/

This was a submission to the contest held by @orignalworks.

https://steemit.com/crypto/@originalworks/680-steem-sponsored-writing-contest-graft

twitter link https://twitter.com/amansachdeva27/status/1019177622419300353?s=17

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