This post it's about GRAFT a Global Decentralized Payment Processing Network.
Every day, when it comes to payment methods, people tries to find the best way it suits them, whether it's cash, debit or credit cards, checks and more. What not everyone knows, it's how technology it's replacing all of these methods susceptibles to multiple consequences if something doesn't work as it should be and similar things can happen to cryptocurrencies users.
With the evolution of cryptocurrencies, more and more people are deciding to give them a chance when it comes to use them as their paypemt method for purchasing services or items for their daily life but, what happens when they aren't able to process essential transactions or when you can't actually do it because of the missing third-party payment processor ? This is GRAFT wants to solve with its decentralized payment network so crypto paymentes can be done and accepted by merchants and consumers while respecting the existing principles of cryptocurrencies and cryptographic tokens.
What is GRAFT?
Is an organization that it's introducing a decentralized, real-time payment processor that will change the way merchants and consumers make transaccations, benefiting both parties thanks to it's low fees for consumers and letting merchants offer more and more, supporting Bitcoin and several major cryptocurriencies and cryptographic tokens, eliminating the need to purchase different centralized payment softwares or apps for both sides of the coin, so merchants and consumers won't be in the need of looking the right platform when it comes to transactions and payments, provinding a new payment method so consumers won't depend on the use of debit and credit cards, cash or online transactions, letting them choose their favorite option to acquire services and products from their favorite merchants and stores.
Lack of acceptance
Nowdays, due to people being used to their old payment methods, not all of them will give cryptocurrencies payment methods a chance plus, a lot of them are still not well known by the public. One of the reasons why this happens it's because of the need to use a variety of third-parties softwares to have access to multiple cryptocurrencies, where all have different benefits and drawbacks.
GRAFT's RTA
GRAFT's technology is very different. With the use of RTA (real time authorizations), transacctions are made almost instant, so both sides (the buyer and the seller) will complete the deal without waiting several hours to see the transaction's approval, to keep going with their daily life using normal payment methods and GRAFT and use of their favorite cryptocurrencies, all of these while GRAFT's RTA works with supernodes confirming and validatiing the transacations.
GRAFT's Benefits
Decentralized Proccesing: We won't be in the of using a central authority or contracts since all transactions are processed by the network.
Universal Solution: Accepting the major cryptos out there will still using local fiat can bring a lot of possibilities to merchants since they will be able to have a big variety of clients.
Tiny or zero Transacction Fees: GRAFT uses a flexible transaction fee to avoid network abuse and to motive node operators when the mining bonus becomes small. All of these to give users the best crypto payments.
Instant Autorizations: With GRAFT, both sides of the coin, won't have to wait several minutes/hours to confirm the transacction since GRAFT only takes seconds, allow them to continue their daily lifes without worrying about their money.
Credit Card Workflows: GRAFT's technology it's able to integrate with existing payment methods so the merchant it's able to continue using its old payment methods at the same time he/she uses GRAFT.
Privacy: GRAFT provides users untraceable, unlinkable and fungible transactions.
Fast integration: Anyone can integrate it to current credit card workflows.
Accepting all payment methods: Elimanates the need of having multiple points of sell apps and wallets.
Free Funds Transfers Between Wallets: You will be able to make transfers faster and without fees.
Impact
GRAFT's impact in the payment industry it's bigger than it looks like since merchants will be able to accept any kind of costumer, and for costumers, they will be able to use their favorite payment method, all of these while both of them look for what benefits them the best.
Interacting with Crypto
People will be curious about what GRAFT does because it is something new for them, which will make people want to learn about the world of cryptocurriencies and its benefits, maybe even make it the number-one method of payment in the world.
RTA and the future of crypto
Real time authorizations are what the world of cryptos needs, most of platforms ensure secure transactions but with waiting times ranging from minutes to hours. With RTA technology, the use of cryptos will be faster and of course, secure. Users won't feel overwhelmed because the transaction it's taking more than it should be, since RTA will process it almost immediately to make sure both sides get their parts without problems. Plus, it will be easier to learn how to use them properly because we will not fall into the despair that waiting can sometimes create about whether or not we did something wrong with the transaction.
Conclusion
GRAFT it's a platform that will allow merchants and consumers to integrate cryptocurrencies to their lifes as payment method, benefiting them in many ways knowing that their money it's safe without the need of changing most of the methods they use everyday.
More information:
Link to @OriginalWorks's post here.
graft2018