PAYGINE PLATFORM OVERVIEW
It's been over a decade since the invention of the blockchain technology, and the world is marveling at it's intricate tendencies. The blockchain technology had been pivotal in setting up many platforms and is already making waves in different sectors of the economy such as finance, ecommerce and gaming.
What many fail to understand is that the blockchain technology can be applied to real-life situations and this can be achieved by using Decentralized Organizations (DAOs). There are many start-up companies that are prone to fail if they do not take the right approach.
The current model is centralized and any business or start-up that keeps using this model might find itself in debts within months of floating. It has been posited that about 30% of entire start-ups were able to achieve their goals. So what happens to the other 70%. Flushed down the abyss I guess and this is because there’s a problem and we shall look at that.
The Problem
The problem faced by many start-ups stems from the centralized approach in vogue. The first problem facing new organizations is limited funds. According to financial analysts, these new organizations have enough capital to keep them afloat for the first two quarters of the year after which they hit bankruptcy. Having in mind the huge role funds play in business, it is not encouraging that new organizations lack required funds to run their business.
Regulations are also limiting new organizations. If you’re to partner with a citizen of another country in setting up a new organization, both countries’ (yours and your partner’s) regulations will come to bear. This is apart from the documentations and financial aspects to this.
There is also the problem of incorporation costs being on the high side and in situations when there are conflicting opinions among key members of the organization, the effect if not well-managed, might result in a split in the organization.
Likewise, inclusion or exclusion of partners poses another problem. If your partner in a business withdraws his support, you’ll find yourself in a state of malady. In such situations, other partners and third-parties might utilize such situations for their personal gain.
So with these problems facing start-up organizations, it is pertinent to create a decentralized approach that will allow emerging organizations have a stronghold. There is need to help the start-up and new organization industry with a huge potential of 305 million companies growing by 100 million companies every year.
The solution will also encourage start-up companies and avoid them from going the way of over 100 million start-up companies that were forced to close yearly as a result of challenges rocking the industry and hugely because they were insufficient funds.
INTRODUCING PAYGINE
Paygine platform is built primarily to assist various individuals and businesses to make use of blockchain technology in their everyday lives by implementing the use of cryptocurrencies into buying and selling of physical goods and services. It is backed up by the Best2Pay platform.
The working Structure of the PAYGINE
PAYGINE is built on the white label idea which is founded on Best2Pay. It will allow other businesses thrive and be successful on the platform without the platform getting in competition with them, while making use of cryptocurrencies for transfers and payment of fees using traditional payment methods.
For example, transferring cryptocurrencies on credit cards, using a cryptocurrency card to pay for goods bought at a store and on online stores, and the ability to transfer Fiat currency to cryptocurrencies and vice versa can inevitably speed up business transactions.
Features of PAYGINE
There are various features and services rendered by PAYGINE and they are:
⏩E-wallet
This means an electronic wallet and is to be used for several transactions.most individuals that perform online transactions and businesses conducted there makes use of E-wallet which is perfect in sending of cryptocurrencies and making various exchanges which is technical.
With the use of API systems PAYGINE intends to make the fast transfer, exchanging of currencies and storage of these currencies fast and seamless.
⏩Exchange Between Cryptocurrencies and Fiat currencies
The exchange of cryptocurrencies and Fiat currencies is very essential and important to individuals involved in the cryptocurrency world.
Users are performing business with it on a daily basis, therefore the ability to convert their funds to the desired currency on the go improves business. It also saves time. The conversion of Fiat currencies to cryptocurrencies will be very lucrative for businesses that use Fiat currencies mostly, therefore bringing them out of their comfort zone while challenging them to enjoy benefits provided by cryptocurrencies.
⏩Issuing of Cards that can be linked to Account in Fiat or Cryptocurrency
Despite the fact that Cryptocurrency is used for many transactions, it has not been incorporated into buying and selling of physical goods. This is because there is no card for transaction, with this service by PAYGINE, cards with resemblance to the regular credit card used for payment at shops and malls, will be used and designed in a way that conversation of cryptocurrencies and Fiat occurr interchangeably.
⏩Payment Processing for Cryptocurrency Accepting merchants
Business individuals that accept cryptocurrencies for the exchange of goods and services may be limited in processing their payments which is why this feature was created to assist them in getting payments received with the use of various technologies.
⏩Money Transfer services.
The use of the most popular cryptocurrencies to serve as guidelines in the functioning of this platform and to be able to transfer funds easily and swiftly at a low cost.
⏩Peer to Peer service
This feature is useful for electronic wallet as it is a direct connection between the sender and receiver of the funds thereby bringing a kind of bonding that is beneficial to both parties.
⏩Deposit and Withdrawal
With the use of AP, PAYGINE users will be able to deposit and Withdrawal funds through various extensive ways which will be convenient for both the platform and the users themselves.
TOKEN feature
The paygine platform is built on the Ethereum blockchain and is symbolized as PGC Token and will be used to transact business internally and payment of fees.
Benefits of the PAYGINE platform
Paygine is of immense benefits to its users or clients as it makes it possible for business entrepreneurs to create their own brands under it therefore giving room for the expansion of businesses.
Innovation of methods and techniques to allow various individuals and businesses owners to make use of cryptocurrencies in the day to day activities thereby broadening the reach of blockchain technology.
Because cryptocurrencies can now be exchanged on the go, users get to transact business deals fluidly and with ease therefore doing their businesses rapidly.
In conclusion, Paygine platform that is backed by Best2Pay is taking blockchain technology forward by integrating it into the everyday lives of people with the use of the conventional methods thereby making it reliable for the users.
TO LEARN MORE ABOUT PAYGINE KINDLY VISIT THE FOLLOWING CHANNELS
Website: https://www.paygine.com/
Telegram: https://t.me/paygine_official
Facebook: https://www.facebook.com/paygine/
Twitter: https://twitter.com/paygine
Whitepaper: https://www.paygine.com/assets/helpers/files/en.pdf
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