GRAFT WRITING CONTEST

Hello world am @hayomide a member of steemit.
Here my recommendation of GRAFT to you all.

Firstly what is GRAFT?

GRAFT is an open source, open platform, non-for-profit, community project set up to play a role in payment evolution in the world transaction.

GRAFT BLOCKCHAIN FOUNDATION

Graft Blockchain is built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.
When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, and connected extra services.

Graft Blockchain is a socially responsible organization, introduces a decentralized, real-time payment processor and services platform into the global market covering a wide variety of credit and debit payment use cases. It allows merchants to accept small payments and avoid dealing with big banking and government institutions, prevents fears of recourse coming from corrupt societies; it frees consumers from the usurious interest rates on the credit card balances. Finally, it opens up global commerce where the governments are making cross-border transacting difficult.

Graft software that is not subjecto to shared intellectual property (IP) or under an NDA is under an open source license. Graft Foundation is a non-for-profit entity, and it's intend to operate as such unless it's forced to change status by the governing laws of the land.

You can know more about GRAFT
Kindly click on this link https://www.graft.network

                         IMPACT

I believe a Blockchain like Graft can have a far reaching impact, removing friction from the systems and enabling new use cases. To provide a few examples:

Consumers benefiting from lower prices due to merchants fees going down

Merchants offering more products and services
Consumers and providers benefiting from significantly lowered administrative and transaction processing overhead

Drop in physical and electronic crime due to shift to cashless and secure crypto-currency

Consumers benefitting from lower credit card borrowing costs resulting from peer lending

CORE SET OF PRINCIPLES FOR GRAFT

Real Time Authorizations

Real time authorizations are the crux of the modern payment processing. Accomplishing real-time authorizations requires a flexible and scalable architecture and an end-to-end solution

Transaction Privacy and Untraceability as the
Basis for Payment Blockchain

I believe that complete transaction privacy and untraceability should be at the basis of the payment blockchain. The private network then implements facilities that allow both parties to select the levels of disclosures that are appropriate for any given transaction ​
PoW / PoS / PoI working together
We believe that proof-of-work, proof-of-stake, and proof-of-id each have their place in an application specific blockchain implementation like payments. We believe in implementing and using all these various approaches gradually and selectively to accomplish the ultimate security of the network as well as speed and reliability of the transactions. ​

Open Platform for Service Brokers

It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. While some core features such as real time authorization and untraceability are provided and implemented by the network itself, many important services will be delivered by third party service brokers. It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. ​

Specialized Blockchains

Complex systems are not stable. I confide in specialization of blockchains vs having bloated one-size-fits all approach that other smart contract based blockchains implement. Will add smart contract features that are relevant to the application, with an eye towards integrity and reliability of the network

           ORGANIZATION

It's intend to keep the core organization as small as possible (in the order of 15-20 people), mostly engineers. GRAFT Foundation team will not be engaging in the build-out of the network or any other administrative controls of the network. Our part is software design – we leave the commercial efforts to other parties who want to become part of the network.
While it will be core organization’s mission to build the software that will power GRAFT Network, it will be up to the eco-system of partners who will enable the commercial success of the project. We anticipate both function specific involvement from individuals and/or firms dealing with the specific aspect of the solution, to regional organizations who will act as market oracles in observance with local regulations, needs, and customs.

BENEFITS MERCHANTS (recipients)

Real Time Authorizations (Instant Confirmations)

Instant transaction confirmation, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process

Low Transaction Fees

Transactions are confirmed instantly, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process

Special Transaction Types and Smart Contracts

Graft Point of Sale apps support multiple transactions types that are unusual for cryptocurrency. For example pre-authorization and capture that are necessary for ticket booking, hotel check-in, or gas station payment. Schedule or Escrow transactions, which are essentially pre-programmed configurable smart contracts, can help businesses set up periodic remittance and subscriptions

Free Point of Sale App Accepts All Payment Methods

Free Mobile Point of Sale app accepts various cryptocurrencies and credit/debit cards, which eliminates the need to maintain multiple point of sale apps and wallets

Merchant Payouts in Local Fiat Currency

Transaction are settled in real time and payouts can be received in local currency

Authenticated Buyers
Buyers can confirm their identity in order to unlock some special transaction types which require age verification, for example
BUYERS (senders)

No Transaction Fees

Graft transaction fees are always charged to the merchant, just like with traditional credit card payments. Small purchases with cryptocurrency will be finally affordable

Free Funds Transfers Between Wallets

Neither sender nor receiver pays any fee for limited number of low priority slow funds transfers between wallets

Absolute Privacy

CryptoNote protocol ensures full untraceability, unlinkability, and fungibility of Graft blockchain, where sender address, recipient address, and transaction amount are cryptographically protected and invisible. On top of that, Graft adds “one more thing”; it makes even transaction fees invisible to public view

Spending Card

The Mobile Wallet user can pay everywhere using traditional debit card associated with multi cryptocurrency wallet

Crowdfunded Credit

The Mobile Wallet user can instantly request a crowdfunded “credit line”. No credit history checks

Zero Knowledge Proof Identity Verification

Some features such as free transfers or crowdfunded credit require user identification and authentication. Zero knowledge proof technology allows users to authenticate without compromising their privacy
SUPERNODE OWNERS (miners)

Block Rewards
Supernode owners receive PoW block rewards.

Transaction Fees
Supernode owners receive transaction fees for real time authorizations

Hosting Service Brokers
Supernode owners receive a share of transaction and service fees charged by service brokers.

Imagine a world in which crypto is everywhere at the point of sale – you accumulate different crypto assets through investment, work, playing games, charity, even exercising. You use these assets to purchase goods and services. The loyalty programs now all run on crypto. The interest rates are lower because of p2p lending through the network. Foreign transaction fees are all but forgotten and you don’t need to worry about exchanging fiat currencies ever.. Not only that, but anyone can start generating extra income by becoming part of the network perfoming authorizations, exchanges, or maintaining gateways

graft2018