Cryptocurrencies are gaining ground every day in our world, although it is still far from being a daily life of each person. Only a small percentage of businesses accept cryptocurrencies, and usually only bitcoin, and if you buy a coffee for $2, you end up paying an extra $2 for the transaction, which does not make it attractive to most potential customers. any business.
Almost every day you see news of new companies that accept payments in cryptocurrencies, but we have not yet heard of a platform that is responsible for cushioning the extra expense of payments with virtual currencies that we could quietly do with current money, and use a credit card. Credit sounds ridiculous when we talk about small purchases.
Since the introduction of Bitcoin in 2009, it was said that blockchain technology would change the financial system forever. However, almost ten years after the launch of bitcoin, it has not changed much in the traditional financial system due to the impact of blockchain. One of the reasons why the adoption of blockchain cryptocurrencies is not widespread is that many of the existing cryptocurrencies were not designed to be effective as a means of transaction (from the point of view of the market, purchase and sale of products and services) in relation to existing options such as credit and debit cards.
The global open source payment gateway company Graft is developing a blockchain network designed for the point of sale to allow customers to pay for dinners using cryptocurrencies. With this, the project joins a growing trend with the aim of improving the current payment options for currencies and digital assets that may be outdated.
Real-time authorizations
GRAFT is currently working on RTA (real-time authorizations).
For payment processing to be feasible, the first fundamental step is to make transactions as close as possible to the moment. Customers can not pay for a product and wait 30 minutes to get a confirmation.
The GRAFT RTA ensures that payments will be authorized and processed almost in real time and that the buyer can pay in the currency of their choice while merchants receive settlement in their preferred currency. In addition, with RTA, several types of transactions, such as authorizations and retentions, also become a possibility, since they provide point-of-sale systems with familiar processes and interfaces.
The GRAFT RTA will work by implementing a two-layer network with supernodes (randomly selected based on stake levels) confirming and validating transactions and exchanges in real time.
This is an extremely important development in the payment processing space. Real-time transactions will allow retailers to continue without changes in their business practice, while adding support for cryptocurrencies.
GRAFT has been able to integrate on both Verifone and Ingenico payment terminals. That means existing store-owners can install a free application onto their terminal and start accepting payment in crypto!
These two videos are examples of existing payment terminal integration with GRAFT:
Verifone
Ingenico
Check these links if you want to know more
- GRAFT
- GRAFT WhitePaper
- GRAFT Twitter
- GRAFT BTCTalk
- GRAFT Facebook
- GRAFT Reddit
- GRAFT YouTube
- GRAFT Medium
Description of my design:
My logo is the merger of a credit card with the bitcoin logo, and the blockchain coming out of this logo, in addition to the logo of the platform.
A different font for the name and slogan because the original did not like me at all.
The animation:
graftgraphic2018