PayAccept: Making Worldwide Payment in Seconds Possible Through DEFI & Blockchain Technology.
Rick Falkvinge, a crypto enthusiast, once said “Bitcoin will do to banks what email did to the postal industry”. This statement which sounded ridiculous to many initially is currently
being fulfilled. Blockchain technology is gaining the attention of the public daily. It has opened the eyes of the people to a more secure and reliable way of exchanging values without the help of a middle man. People can now make payments anytime of the day to anyone at every corner of the world. Blockchain is shifting the world to a new era where almost anything can be digitalized and transferred online. As this paradigm shift unfolds, there will be a need for people to manage and secure their crypto assets. Due to the technicality and complexity involved in managing crypto assets, people prefer to use the service of a third party.
However, many of these third parties offer interfaces that are unfriendly to users, and sometimes not well secured.
PayAccept aims to correct this anomaly by creating a platform that will help individuals and companies to manage cryptoassets efficiently. Not only that, PayAccept will also provide technological solutions for merchants to accept payments in cryptos all over the world.
PayAccept, which has its headquarters in Netherlands, is a decentralized finance(Defi) and blockchain technology company that offers its clients cryptocurrency and fiat payment processing, card issuances, financing loans, and risk management services.
Issues of Many Cryptocurrency Wallets.
o Most people rely on the service of a cryptocurrency trading platform or cryptocurrency wallet for their assets management. Problems may arise if these platforms go rogue or shut down unannounced.
o Since these platforms give wallets to the users to store their cryptoassets, users’ private keys are also in their custody. This can lead to financial loss if such keys fall into a wrong hand.
o Many crypto wallets have not implemented the multisignature smart contracts which gives room for more security when managing crypto assets.
How PayAccept Will Tackle these Problems
PayAccept wants individuals and companies to be able to manage their assets, including their private keys. It will eliminate the fear of losing one’s fund to a third party through mishandling of private keys.
PayAccept will be implementing multisignature smart contracts. Gnosis, which has never been breached before, is an example of multisig wallet to be interfaced with. PayAccept.
Other Features of PayAccept
PayAccept is incorporating the Raiden Network on its platform for instant transaction. PayAccept is the first wallet to use Raiden wallet.
Linking of Bank Accounts
Users won’t bother about depositing and withdrawing their cryptocurrency assets or fiats owing to the ease at which they can link their bank accounts.
Unified Interface
With a single unified interface, users have access to numerous services on the Platform.
PAYToken
PAY Token will allow customers to benefit from PayAccept’s products and services. Holders of PAY token will have access to new features, inside information, and enjoy discount of 50% or more on their transactions fees. First round of IEO of PAY was done on exmarkets exchange, which was very successful.
Follow the project URLs to get updates on second round of IEO.
Conclusion
While it is true that Blockchain was created as a decentralized network which allows users to manage their crypto assets without a middle man, the technicality involved makes it difficult for many to do so. Errors can occur while managing one’s fund and can incur losses. PayAccept offers a simple platform for the people that will enable them to manage their crypto assets efficiently. PayAccept is making use of multisig wallets through Gnosis. The platform allows customers to link their bank accounts for smooth deposit and withdrawal of cryptoassets and fiat.
useful project links for PAYACCEPT
Website
Whitepaper
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Telegram
Facebook
LinkedIn
Medium
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