Bringing cryptocurrencies into our everyday lives
Smarts Self-Service Platform
First posted on Smarts blog
After 10 years of being on the market, cryptocurrencies are proving themselves to be here to stay and although the cryptomarket has provided us an abundance of different currencies and tokens, as of yet they’re really nothing more than digital securities.
Bringing cryptocurrencies into the lives of everyday people does not happen until there is a simple and quick way to use them the same way that we use traditional currencies. Smarts is here to provide a solution for that - a smartphone based self-service platform.
The aim of self-service is to reduce the amount of human resources needed for providing the service and put a partial responsibility on the customer. Another main purpose for implementing self-service is cost savings. In addition, providing self-service opportunities is innovative and attractive for the customer.
So what exactly is Smarts?
Smarts is a system that allows for a customer to walk into a store, grab the product they wish to purchase, scan the barcode of the product they want to buy and make the payment by using their smartphone. And for payment customers can use cryptocurrencies.
The past decade has shown a huge increase of demand in the world of cashless and digital payments. From 2014 to 2015 the global growth volumes grew over 11%, reaching 433 billion transactions. Emerging Asia being the biggest driving force, with a growth of 43.4%¹.
The volume of mobile contactless payment is projected to grow by a compound annual growth rate (CAGR) of 80% between 2015 and 2020 to 4 Trillion USD². It mainly comes thanks to different mobile payment solutions such as Google pay, Alipay, Apple pay and many others.
The crypto-economy and cryptocurrencies are also at a remarkable growth. Estimations show, that by 2020 the crypto-economy will pass three trillion dollars and by 2022 equal 10% of world GDP³. Connecting all this into the everyday world and the lives of everyday people is where Smarts comes in.
With the help of Smarts Self-Service Platform we can bring the benefits of cryptocurrencies - speed of payment; low transaction costs and removal of national borders into the hands of everyone who has a smartphone with them, whilst also removing one of the biggest hassles of everyday shopping - checkout lines.