Global open sourced payment gateway company Graft is developing a blockchain network designed for point of sale to permit customers to pay for dinners using cryptocurrencies. With this, the project joins a growing trend aiming to improve on the current payment options by coins and digital assets that may be becoming outdated.
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If proven successful, this blockchain network will further increase the use of cryptocurrencies spil more merchants will accept digital coins spil payments and cementlaag the foothold of Bitcoin, Ethereum, Ripple, and other altcoins te the financial mainstream.
Te a statement, Graft said that the long confirmation time, spil well spil the high cost of cryptocurrency transactions, is discouraging customers to shift from traditional fiat currency to virtual currencies.
The statement reads:
&ldquo,The fact that consumers pay the transaction fees spil opposed to merchants te credit card payments discourages the mass adoption of Bitcoin. Graft is looking to solve the problems of transaction costs and settlement times with a merchant-centric, agile blockchain.&rdquo,
Graft said it offers a payment blockchain that is compatible with major existing payment technologies. This permits merchants to accept both fiat and cryptocurrency payments, love instant settlement, and have seamless access to their funds te their preferred currency. This ease of use for both consumers and merchants will go a long way toward ensuring that cryptocurrencies supply on their promise of being a more efficient medium of exchange.
Ter 2018, Japan became the very first country ter the world to recognize Bitcoin spil a legal payment method. Tokyo also certified several cryptocurrency exchanges to operate within its borders. Ter December last year, Scott Cutler, senior vice voorzitter of eBay, one of the largest e-commerce portals ter the world, said they might commence accepting cryptocurrencies from buyers ter the future.
He wasgoed quoted spil telling:
&ldquo,This is a trend that everybody is talking about, but sadly, at eBay, wij don&rsquo,t presently accept bitcoin spil a form of payment. Wij&rsquo,re gravely considering it spil thesis cryptocurrencies become more mainstream, [but] wij&rsquo,re not fairly there yet.&rdquo,
Recently, the gaming toneelpodium Steam disabled puny payments for Bitcoin, and Microsoft also reviewed its policy to cryptocurrencies.