Cashless payments more and more to capture the market. This is not surprising, because the non-cash is more and more convenient, whether it's Visa / MasterCard or payment services WebMoney, PayPal or Qiwi. But also non-cash payments have shortcomings. Payment technology is based on a centralized model, which limits the ability to scale services and the speed of transactions. Such services are difficult to maintain and this negatively affects the commissions.
Don't forget about the problems with the freezing of funds and rollback of transactions. The money in your bank account is not your money, they belong to the bank. The same situation with payment services. You give money, and in return receive "debt obligations".
The problems of centralized services related to remittances could be solved by cryptocurrencies. Decentralized crypto-exchange platforms with low fees, fast international payments and increased security, because they are developed in such a way that the only way to transfer money is to manually create a transaction and send it to the network .
It will not be possible to subscribe to the service so that money is withdrawn from the account every month or set up an automatic payment for utilities. Alternatively, it is possible to create centralized services with "cryptocurrency accounts", that will need to be replenished from time to time. But such an alternative is inconvenient and contradicts the essence of the cryptocurrency.
Was it worth building a decentralized service in order to transfer money to an account in a centralized organization and get a classic bank with bitcoins instead of a fiat currency?
PumaPay - payment platform of the new generation
PumaPay offers an innovative "all-in-one "solution based on the blockchain. The PumaPay Pull Payment Protocol, built on smart -contracts, will combine the advantages of decentralized systems and classic systems.
A smart- contract performs money transfers upon the occurrence of those events. The main difference from centralized services - a smart -contract will always do what it's for it was written. If it is written "on May 1 transfer money to the account" - the money will be transferred, and no one, even the creator of the contract, will be able to prevent. The code is the law.
Smart -contracts, of course, allow to create decentralized solutions, but in fact, they are ordinary programs, and the code for them should be written by programmers. But to write good code - not a trivial task.
The PumaPay project team developed a protocol, qualitatively writing the code for smart -contracts. As a result, now the seller doesn't need explore in depth the principle of cryptocurrency work, hire programmers to create smart- contracts and face various difficulties in implementing payment by cryptocurrencies. He (seller) could use the framework PumaPay and easy to connect cryptocurrency payment system.
PumaPay allows you to:
- Connect the ability to accept cryptocurrency in any store
- flexibly configure an invoicing scheme, including periodic payments, payments for use, and so on
- Reduce commission fee
- Thanks to smart contracts establish full confidence between the seller and the buyer
- Increase the security of payments, thanks to the use of blockchain technology.
At the moment, on the ICO you can buy tokens, which will be used as the internal currency of the payment system.
Conclusion
Unlike start-ups offering to use blockchain technology in absolutely all areas, the developers of PumaPay implement a payment system on the blockchain- for which the blockchain was invented 9 years ago. But the system will not be simple, but with additional capabilities that are highly needed in modern realities. PumaPay has a chance to show the world how a decentralized payment system should look like.
More details can be found on the links below:
Website: http://www.pumapay.io/
Facebook: https://www.facebook.com/PumaPay/
Twitter: https://twitter.com/PumaPay
Telegram: https://t.me /PumaPay
Reddit: https://www.reddit.com/r/PumaPay/