Let me start straight away by saying this project's name is PumaPay.
I can already see the energy and the force behind PumaPay, going
fearless all the way up to the top. So I wanna congrats the team for the
brainstorm choosing this cool name. But let's go to work, we need to
what this is about.
A golden key in their thinking is "reinvent". They put a lot of effort
to pull out a smart contract called PullContract, using a innovative
architecture. As a Comprehensive Pull Payment Protocol, PumaPay is a
free blockchain pull payment protocol that makes crypto billing
accessible to every business. While in the present day and market where
tradings include credit cards and virtual cryptocurrency like Bitcoin,
this ICO project promises to bring an innovative method of payments and a
set of tools developed specifically to facilitate on-boarding processes
for both businesses and individuals. The PullContract is created to
fulfill the need of billing in our generation. Based on blockchain, we
could expect some great features in return, like: comprehensive,
security, accessibility, flexibility.
PumaPay is a real deal. I was just
wondering when a blockchain based project will hit the crypto market,
and I can see this is a perfect time for them to launch it. Going on the
changes that our generation already tasted, the era of online payments
will represent a huge segment for people for the next years. I can
predict that real paper money will no longer be in the near future, and
the virtual coins will replace it step by step. As long as our credit
cards are controlled by banks, the fees and the rules can always change,
but on a blockchain network, PumaPay will gain the trust on the users
and investors as well. Good project, promising roadmap.
Meet the team
‘PullContracts’ and ‘PullRequests’.
These are the heart that drives the PumaPay system
Pull Contracts allow for businesses to stipulate the cost and terms of a
transaction. When a customer agrees to those terms, they complete the
payment loop. The PullContracts are flexible enough to allow for
one-time payments, recurring payments, shared payments, money back
guarantees, restrictive spending rules, and more.
When a PullContract is agreed to by the consumer, a PullRequest is
created to finalise the transaction and facilitate the withdrawal of PMA
tokens from the customer’s wallet, to the businesses wallet.
For example, when a customer buys a coffee, they agree to a PullContract
which then allows a PullRequest for the cost of the coffee in PMA’s to
be executed. If the PullContract included a cost-sharing function, the
PullRequest could pull money from two different consumers wallets, and
so on. In a scenario where there were insufficient funds for the
purchase, the business would also immediately know, just like the way a
declined credit card works today.
It’s important to note that PullContracts can facilitate essential
consumer payment requirements that are required for business as usual,
such as Money Back Guarantees. If a customer returns a product, a
PullContract can facilitate the refund of a payment. To do this in the
present cryptocurrency ecosystem would require too much manual labor.
PumaPay aims to automate this kind of every day transaction.
An additional payment tool possible with this platform is the idea of
restricted payments. For example, a parent could provide their child
with a set amount of funds for spending, but restrict the use of those
funds to certain types of purchases. (i.e. School Supplies OK, but Candy
is not). I feel this type of monetary control over money shared with
another person could prove to be very powerful.
The PumaPay SDK (Software Development Kit)
All of this will be made available and possible using the SDK for
developers. Because PumaPay is a transaction free platform, and the only
fees are those charged on the blockchain itself for transaction
verification, there is enormous room for growth as this platform is
adopted and built upon by its developers.
The use cases go on and on, because the capabilities of a PullContract
are as wide as a developer’s imagination. Any number of requirements
could be coded to be met before payment is required or requested using a
PullRequest. Integration into existing systems will just be a matter of
businesses developing the code to trigger existing actions based on the
PumaPay PullContract results. For example, an online subscription based
system could grant a user access to premium app features after a
PullContract is executed successfully.
The PumaPay Presale is on going now on their website and they have announced that their Global ICO is coming soon.
For more information:
WEBSITE: http://pumapay.io/
FACEBOOK: https://www.facebook.com/PumaPay/
TWITTER: https://twitter.com/PumaPay
TELEGRAM: https://t.me/PumaPay
Bitcointalk (titadamay) : https://bitcointalk.org/index.php?action=profile;u=1826813
My ETH: 0x162b4862c2Aa74eB272974EdF91B754a57A5f01e
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