Imagine a world where cryptocurrencies are used easily and just as often as paper cash or a world where cryptocurrencies are easily and quickly transferred to become cash at bank or a world where 90% of transaction payments will be done in cryptocurrencies. Well this was my imagination as i read about GRAFT.
Graft is a decentralized, open source, blockchain based, real-time, debit, credit payment gateway that allows for instant crypto transactions at extremely low costs without the involvement of any centralized payment processors which defiles the first rule of blockchain technology - Decentralization. You can see the whole lot of adjectives it carries along in its description, yess! That's how cool it is!
Since the creation of Online Cash, it has unable to beat, hands down, online payment cards or paper cash because of some extremely significant technical limitations which includes;
• Lack of Essential Transaction Types
• Unsuitable Payment Flows
• Long Confirmation Times
• Unbalanced and Unpredictable Transaction Fees
• Inability to Process Micropayments and Repeating Charges(Subscriptions)
• Lack of Offline Transactions support
• Low Scalability
• Volatility
• Incomplete Security
• Lack of Privacy Due to Traceability of Blockchain
• Questionable Utility
• Poor Usability of End-User Interfaces
With GRAFT eliminating all these issues, 2018 might just be a second reconnaissance. This is how it is going to change Payment Processing System and benefit Cryptocurrencies.
The cashless policy that was once a dream will become a reality. Most big business owners of this century deal on online cash but because of the above listed limitations they convert this online cash to fiat cash in order to complete a transaction. Hence hitherto there has been friction in online cash flow and transfer which results to discouragement of big business men who then decide to go "all fiat cash" and no online cash. With GRAFT this friction is lubricated, more business men will see reasons to adopt cryptocurrencies as a means of their transactions. Cryptocurrencies will therefore be in a higher demand than it is now and as demand increases price increases! Making Online cash in whatever form,size or color it comes to become more valuable and the $20k bitcoin hit will be the base of its skyrocketing growth.
The world has seen the soaring of cryptocurrencies, no doubt, but converting fiat cash to online cash is not that easy but with GRAFT being a universal solution with free transfers between wallets and allowing for payouts in cryptocurrencies and local fiat cash, laymen will see online cash as not so far fetched afterall and they too will join the crypto community and soon the world will be "cryptolized", also increasing the value of online cash. Crypt-Forex trading will now be Easy-peasy and attractive.
Social platforms will be more fun! Imagine you could create a post on a social platform, based on value get rewarded in cryptographic tokens and almost immediately with the aid of GRAFT used token rewards to make purchases at extremely low costs! Take steemit as an example; Author creates a post worths $100 seven days ago, paid out, the author transfers the rewards in his wallet to any wallet he chooses at no transaction fee and the use this to purchase a hamburger! A hamburger reward for a good posts. I bet that author would be thinking of hamburgers as he creates his next posts.
Motivation, flexibility and incentives keep any organisation or platform going! This as well will attract people to the crypto community. Graft is a true motivation to the Crypto community.
graft 2017
Check out this Contest!
https://steemit.com/cryptocurrency/@originalworks/150-steem-all-languages-sponsored-writing-contest-graft
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