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2018 is a big year for cryptocurrencies and the blockchain. This year, several aid agencies, including the United Nations’ World Food Programme have started exploring blockchains for aid payments. Sending money across borders using cryptocurrencies potentially reduces fraud–because the blockchain records every step of the transaction–and lowers transaction fees.
“Smart contracts” allow aid to be delivered with conditions: for example, payments are released only if recipients can confirm they’re the correct beneficiary. Unicef and the World Bank are both set to launch blockchain projects next year.
These examples are just the tip of the iceberg. In 2018, blockchain looks set to be applied to solve many of the world’s challenges chief among them health insurance, medical data, cleaning up the advertising industry, voting, improving food safety, renewable energy, enabling refugees to own their digital identity, helping the homeless, and even orchestrating a universal basic income as well as a whole hoard of important applications in the financial services industry.
The blockchain is much more than bitcoin and for now forget about Bitcoin, one of the most rising payment platforms and projects to watch is PumaPay. The PumaPay ICO raised an outstanding $117m during its private sale making the project the 6th biggest ICO of all time only behind EOS, Siren Labs, Tezos, Bancor and FileCoin. This kind of an achievement has created a huge buzz around PumaPay and many investors who bought the token at ICO are looking forward to a big, fat check once PumaPay is listed on exchanges.
PumaPay is a billing platform that combines cryptocurrencies with a credit card. Anyone is eligible to use the PumaPay platform to make payments once they download and login onto the PumaPay App. PumaPay is using blockchain technology to provide a secure system for traders to make and receive transactions by affording merchants billing solutions.
These solutions will replace banking systems in the future as well as enabling traders to eliminate middlemen, frauds, risk of charge backs and fines. What this means is that merchants now have the power to control the various parts of the transactions they perform. The features of the PumaPay platform are more flexible and credible than credit cards as it combines traditional payment methods with blockchain solutions.
The real benefit of the PumaPay payment protocol is its use of ‘PullContracts’. The PumaPay pull protocol seeks to solve existing issues that most cryptocurrencies face in that these are ‘push’ only payment options. By allowing Pull Payments through the use of Ethereum based smart contracts, PumaPay are able to authorise monthly crypto subscription fees, implement pay-per-use billing charging by the minute, implement single online and offline payments and restrict payments based on predefined user preference.
The main advantages for business’ is the money they will save on fees and other processing costs. Through a decentralised billing layer, PumaPay estimates 15% worth of profit can be added to a business’s bottom line through reducing transaction costs. For large businesses this could amount to millions of pounds a year in savings
More than 40 companies are on board with the project, 30 of which include adult entertainment businesses, a particular area PumaPay has targeted to drive adoption in their whitepaper. PumaPay highlights livestream giant ImLive.com as one of its launch partners who they hope will help drive adoption within the adult industry. As one of the pioneers of livestream platforms in the adult industry, Puma Pay hopes ImLive.com will ‘play a crucial role in demonstrating the advantages and potential of PumaPay, and if such demonstrations are successful more businesses are likely to adopt PumaPay.
In the media PumaPay has been featured by the likes of Forbes and The Huffington Post and in terms of existing business connections, PumaPay has collaborated with notable companies, including adult entertainment giants, such as Vivid Entertainment, ImLive, AEBN, among others. A huge number of companies and organisations in the adult industry has shown interest to work with PumaPay.
When asked by CNBC about the direction cryptocurrencies are most likely to take in 2019, PumaPay CEO, Yoav Dror, had tisto say”2019 will be the year of adoption, no doubt. Until recently, the main challenge has been the time and cost of processing a crypto transaction. In the case with Bitcoin, the processing time of up to one hour and hefty fees made it unsuitable for daily payments. In 2018, we are seeing multiple cases proving that crypto payments can in fact be fast, cheap and suitable for day-to-day transactions.” There you have it folks, with PumaPay, the best is yet to come !!!
Here are some of PumaPay’s achievements to date:
PumaPay joins Top Token Sales of All Times by Raising $117M
https://twitter.com/PumaPay/status/999976438886518784
- PumaPayPumaPay Cryptocurrency Wallet
https://twitter.com/PumaPay/status/995977107737063424
- PumaPay
- PumaPay Relaunches Its Bounty Program
https://twitter.com/PumaPay/status/996287342456524800
- PumaPay
- In May 2018 Exhibited at the iFX Expo in Limassol, Cyprus
https://twitter.com/PumaPay/status/996724161052598272
- PumaPay
- Released the Alpha version of the PumaPay SDK
https://twitter.com/PumaPay/status/1001041315453337602
- PumaPay
What we can expect from Pumapay in the future:
Q3 2018
Testing next gen. blockchain
PumaPay Wallet V2.0 (Android, iOS, Chrome) — supporting all the recurring payments
SDK II — allowing integration with all PullPayment mechanisms as well as development of 3rd party extension servicesPullContract Wizard — allowing creation and deployment of parameterized PullContracts
PumaPay Pride
Q4 2018 — Q1 2019
PumaPay Wallet V3.0 (Android, iOS, Chrome), supporting all the PullPayment mechanisms
SDK III — allowing integration with all PullPayment mechanisms as well as development of 3rd party extension services.
Integration with ImLive White Label
Integration with Early Adopters
More Information on PumaPay
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