The process and pace of global trade is growing at an incredible rate. Everyday, there is a new, faster and more efficient way of doing things; and the world of alternative payments, smart cards and blockchain are not oblivious to this trend. However, several retail outlets and service providers are still embattled with quite inefficient, yet expensive, payment methods and procedures. This is in dissonance with the pace of the industry.
AIGO was developed to solve this problem. The completely free architecture intends to use smart contracts to solve this problem by developing its own AIGO Smart Contracts that brings to the industry a new billing mechanism in the blockchain infrastructure.
AIGO is a decentralized platform that guarantees the security of users' transactions.
THE VISION OF AIGO
There's no doubt that the blockchain industry has the unmatchable potential to revolutionise the global payment industry.
It has the potential to solve the problem of inefficient payment methods by initiating an infrastructure that allows p2p payment over a decentralized platform that permits the flexible use of payment cards. What this means is that service providers and retailers can have smooth business process with their customers in an efficient way, without having to spend to much to do thay. The advantages of this are numerous.
Presently, it's quite Herculean to make transactions or purchases with just cryptocurrencies without converting to a traditional currency. But this can change with the adoption of an infrastructure like AIGOPay that allows traders and customers make mass transactions, with low risk and cost.
AIGO has an AIPayment Chain that is painstakingly built to solve the obstacle of flexible transactions. This AIPayment mecahnicism will open the door for a aspects of the payment methodology that is replete in our everyday activity.
AIGO EXTENSION
The AIGO platform intends to integrate some extensions into its framework. Such extensions include:
- Arbitration Company
- AIGO Directory
- Advanced Management Capabilities
- Installments payment
Arbitration Company:
This extension is intended to intervene in disputes and transaction disagreements between consumers and providers (traders). This is planned because of the inevitability of commercial issues between users of the platform. Traders on the network will be able to employ the service of an arbitration company in a business transaction so as to provide the customer with a certain degree of security.
After a consumer makes a purchase, the payment is held by a smart contract for a while, allowing the customer bring up any dispute (if present). Pending the resolution of the dispute, the payment is freezed by the arbitration company.
AIGO Directory:
This is a business directory that will list several businesses that can be easily searched for using different criteria. The businesses will be integrated into the platform. AIGO intends to develop a prototype called AI-Payment.
The directory will serve as a meeting point for traders and customers.
User Advanced Management Capabilities:
This extension will provide users of the platform with enhanced management features such as transactions notifications, reminders of intending transactions, etc. Users will have the option of enabling and disabling any notification of their choice.
Installments Payment
The AI-Payment Chain enables sellers on the platform receive payments for their products and/or services in installments. This, however, can be risky for the seller as the buyer may not make full repayment.
A solution to this is integrating a credit company as a third party that puts the task of ensuring complete payment by the customer on the credit company.
AIGO Token
Payments on the AI-Payment infrastructure will be made with the token. AIGO tokens is ERC-20 compliant.
Conclusion
AIGO holds so much for the industry, with it's carefully designed infrastructure to cater for the problems that presently bedevil the industry.
USEFUL LINKS
Website: https://aigopay.tech/
Whitepaper: https://drive.google.com/file/d/17K2inOew076KJ_iTKL3n4g0tDz8JXUf0/view
Telegram: https://t.me/AIGO_Global
Twitter: https://twitter.com/aigopay
Facebook: http://facebook.com/aigopayment
AUTHORS DETAILS
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