Introduction
Graft is here to eliminate all those intermediate processes that exist and thus be able to facilitate payment in a cycle from your point of sale, directly to the bank account of the merchant through a process that is very fast and simple with the relief network through integration of cryptocurrency nodes, Graft seeks to provide credible alternative payment solutions, in order to help innovate the current world, making it even more common to be able to make transactions and buy through the use of cryptocurrencies with Graft being the facilitator.
Problem Overview
Today the world has been updated a lot, from the knowledge of the cryptocurrency the world as we know it change and the economic part with it thanks to this invention, at the beginning I doubt if it would be something that would last in the economy, if it would be something passenger and ready but it was not, the cryptocurrencies came to stay and make life easier and help many to have a better income on their own, be an economist thanks to this, there are more games, applications, advertising pages, photo pages or videos that pay you with cryptocurrencies and pages where you can invest them and other wonderful ones where you pay for your publications like steemit.
This is where everything starts to get complicated, we manage to have many or accumulate many cryptocurrencies but we can not buy things in everyday life with them, it could be said that at a certain point it is fictitious money, we have to look for an alternative to achieve change that money to our local currency and it is not always easy to achieve that, we usually get pages that take away a lot of percentages for making the change, others are unreliable and we manage to lose our money and others can take up time to pay us which makes us be with the anguish of if we will be scammed.
How easy it would be to go to a local store nearest and buy food, clothes, a cell phone or anything that comes directly to us with the cryptocurrencies we have managed to get, but that was not possible until the founders of Graft came to change that and be of great help and facilitators, with this magnificent project they will be able to make life easier for many and to make the world continue to advance and modernize.
It's time to think about scenarios
Let's think that we won the lottery, that we invested in a crypto page and managed to win a large amount of money, a sum of money that we never thought we would win, the first thing we do is think about everything we would buy, a car, lots of clothes , a new cell phone, going out with your partner, eating your partner or your parents or even your family, is an endless number of things that can come to mind if we have a large amount of money, but the problem Now is converting that money to our local currency and making all those wishes come true, as we would do then?.
It is difficult to get a page that is trustworthy to try to convert a large sum of money in your local currency, without forgetting also the large percentage that we would be taking away for the transaction, already there was the dinner with your family, that sad for them , should blame the page that makes the change, it is risky to make such a change but inevitable because there is no other option.
That's where Graft comes in and its introduction to the market, we should not think about the percentage of money we would lose, we should not think about the risk that transaction would be, all of that thoughts must be taken from our heads since with this innovation you just have to go where you want and simply make a direct payment as if we were using our debit or credit card in which case you have not paid the fortnight, it would be very helpful at present to be able to do that so easily and simply.
Point of Sale Goes Decentralized
Portraying itself as a "universal blockchain network," GRAFT expects to undermine existing shipper and POS arrangements by lessening the expenses and affirmation times engaged with transactions.
An oft-criticized region of 'everyday' cryptocurrency utilize, POS transactions as of now bring about significant expenses for the two consumers and merchants.
Consumer-oriented cryptocurrency platinum cards incorporate charges for payment tasks and also caretaker expenses – paying for the benefit of owning the card – and different costs.
Going about as an umbrella outfit, GRAFT will utilize its own decentralized blockchain to process POS transactions in multiple digital forms of money, enabling consumers to utilize a solitary wallet for payments and merchants to save money on charges passed on because of mediators.
Some functions of GRAFT
The mobile wallet Graft: (for systems iOS and Android)
Graft CryptoFind: To locate stores with encryption, with the location description given by merchants. (For systems iOS and Android)
Graft Mobile POS: (For Systems iOS and Android) this application is what allows the consumer to offer the option of payment with their crytomonedas.
The project whitepaper clarifies:
"GRAFT will likewise support bitcoin and a few noteworthy digital forms of money, and in addition cryptographic tokens, as an extra decision for purchasers and an adequate technique for the payoff for merchants. This component will wipe out the requirement for merchants to incorporate with multiple (centralized) payment software providers, and for clients to sign up for centralized services and learn and keep up multiple wallet apps."
Integration to Verifone and Ingenico terminals
GRAFT It has been integrated into the Verifone and Ingenico terminals, now when the merchant installs the software in the terminal, he can start with the purchase-sale exercise in cryptocurrencies. The clients will not have any charge in their transactions only the merchants. Credit cards charge 3% fees but the rate for transactions using the graft system is 0.5% with 0.25% or 0.75% additional for other expenses and services.
Graft with Verifone terminal
Graft with Ingenico terminal
RTA System (Real Time Authorizations)
GRAFT Transactions
All GRAFT transactions will be real-time (point of sale purchases) or near real-time (“regular” inexpensive, or in some situations even free fund transfers between user wallets). Now, when ICO is finished, we can finally be fully focused on the development of RTA and other important features.
Implementing RTA, however, is not a simple task which requires significant development and testing efforts, and we never promised it will be available at the beginning. Meanwhile, before RTA is available on mainnet, GRAFT wallet users will be able to transfer their GRFT balances between wallets using “traditional”, slow transactions. Such transfer is not available on mainnet for mobile and desktop wallets yet, only on RTA testnet; however, those transfers between mobile and desktop wallets will be available on mainnet by the end of this week.
Note that even now you can use CLI wallet for GRFT transfers by exporting your mobile or desktop wallet and importing it into CLI wallet:
Exporting wallet from mobile/desktop wallet app
To view the mnemonic phrase go to the Settings and press “Show Mnemonic Password” button. The application will ask you to enter your password if the password is correct, you will see the mnemonic phrase.
Installing CLI wallet
See Installing VM and Installing network node and CLI wallet sections of Mining Guide
.png)
GRAFT TransactionsFeatures
1.Real-time authorizations (instant confirmations
2.Debit card linked to multi cryptocurrency
3.Decentralized Gift Certificates, Store Credits, Loyalty Reward
4.Wallet can pay with multiple cryptocurrencies and credit cards
5.Point of Sale accepting multiple cryptocurrenceis and credit cards
6.Separate Authorization and Complete Transactions
7.Point of Sale merchant payouts in local fiat currencies
8.Decentralized Payment Smart Contracts
Summary
GRAFT is building a blockchain based network outfitted particularly to Point of Sale (POS) exchanges with cryptocurrencies. GRAFT, which goes about as a middleman to help cryptocurrency clients make Point of Sale (POS) exchanges more inexpensively than with conventional crypto debit cards, has an ICO hard top of $25 million.
More information
GRAFT
GRAFT WhitePaper
GRAFT Twitter
GRAFT BTCTalk
GRAFT Facebook
GRAFT Reddit
GRAFT YouTube
GRAFT Medium
This is my entry for @originalworks contest
Attention: @contestbot
Contest Link: GRAFT Contest
graft2018
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!