An introduction to 8PAY
We’re excited to announce the launch of our official Medium publication! The plan is to share announcements, insights, and development progress as we reach our milestones.
Since this is our first Medium post, we would like to introduce 8PAY to this amazing community with a brief run-down of what you can expect in the near future.
A brief introduction to 8PAY
Since June of last year, we’ve been on a quest to supercharge cryptocurrencies by transforming a once nascent digital asset into a payment solution for every occasion. Blockchain’s distributed ledger technology can be used as a means to overcome the inefficiencies of existing, more traditional payment systems. By decentralizing the entire intermediary process, 8PAY intends to unite merchants and businesses in the digital age. As opposed to centralized payment solutions, 8PAY is taking a hybrid approach with smart contracts that are executed on top of Ethereum’s existing network.
For starters, we believe that the 8PAY protocol should be fully decentralized, thus we’re utilizing a smart contract architecture that controls every element of this payment system. This means that 8PAY will never retain your private data nor control your personal funds.
In addition to decentralization, 8PAY introduces a number of innovative features such as subscriptions models, B2B invoicing, and on-demand B2C payments. In future posts we will provide in-depth breakdowns of our main features.
Innovating the payment gateway
We have designed a user-friendly desktop and mobile application on top of the Ethereum network. It allows merchants to integrate the 8PAY protocol without the need to code or execute complex smart contracts. By designing our system from the ground up, we give vendors access to a cryptocurrency payment solution that is convenient and easy to use.
We envision 8PAY to become a leading blockchain-based solution and processor, one that will enable merchants to deploy their own payment system to meet customer demand. The best part? You can define your own parameters to meet the requirements of your business.
Interested in learning more? Head over to our website
