Nupay

Nupay

Undoubtedly, technology has always played a major role when it comes to the evolution of cities. Right from the very first human settlements to the industrial revolution to today, technological advancements have impacted the houses we use, cities we live in and the environment around us. We have been experiencing global trends that have paved the way for a revolution.

Blockchain technology is a revaluation of today digital world. Blockchain technology created a storm in the today digital world in almost every industry from 2009, when its invented. When it comes to digital ledger system the technology use for the cryptography. The blockchain technology nature has got imaginations of today running wild, because blockchain is encrypted database that is distributed ledger, decentralized and impenetrable. Since its invention, it is using for reshaping the way business is doing in almost every industry ranging from government, finance, healthcare to smart cities.

Nupay is a blockchain startup from South Korea and the development team aims to erase the boundaries between the world of crypto currency and classic Fiat money. The creators of the company want as many people around the world began to use crypto currency in everyday life.

Problems of modern crypto currencies

Bitcoin, as the first crypto currency, appeared more than 10 years ago. Over the years, it has proven its reliability and security, gained huge capitalization and showed good volatility. However, neither he nor any other crypto currency could not today become a common means of payment.

The problem is the low scalability and speed of transactions in popular crypto currencies such as Bitcoin or Ether, and on the other hand a small amount of resources, experience and reputation among young projects that would like to make crypto currency a convenient means of payment for everyday life.

Some companies go on the way of creating Bank cards and accounts secured by crypto currency, someone installs terminals for buying and cashing out crypto currencies and so on. However, to date, there is still no coin that has become a common means of payment.

The decision from the company NUPAY

The NUPAY project, based in South Korea, plans to rectify this situation. In order not to break the wood and avoid the mistakes of their predecessors, the development team conducted a large study of many other crypto startups that tried to introduce digital currency into everyday use.

The creators of NUPAY decided that it is not necessary to concentrate on any one direction or sphere of application of crypto currencies, but to develop everything at once.

To solve its tasks, the NUPAY team created a crypto currency token TPCT, which is based on the Ethereum blockchain and has an ERC 20 token standard, but with fixed scalability problems that are currently on the Air.

Using this token, the creators of NUPAY plan to create a global ecosystem for entrepreneurs and their customers, providing services such as: 

Acceptance of payments in crypto currency in online stores

Ability to pay for purchases with digital money offline, in 

partner stores that join in NUPAY 

Issue of own Bank cards with support of crypto currency 

accounts' 

Creation of a global cashback system, where all users will 

to return a percentage of purchases in all stores that support 

the payment system from the NUPAY 

Release of your own mobile application through which you can 

transfer crypto currency and pay for purchases in various stores, 

both online and offline 

Ability to make payments with digital tokens via SMS and 

scan QR codes 

Looking at this list, it becomes clear that the intentions of the developers are the most that neither is serious. They plan to create a global infrastructure in which every entrepreneur and user will benefit from the use of the NUPAY payment system. 

But at the same time, the whole crypto community will benefit, as more and more people will be involved in the use of crypto currency thanks to NUPAY.

The world is driven by change and innovations as nothing or no system of operation ever remains permanent on this planet Earth. Same transition is also being witnessed in the financial payment system and this transition is being influenced and triggered by the blockchain technology. The NUPay payment system utilizes the decentralized, transparent and effectiveness of the blockchain technology to instill simplicity and cost effectiveness in making financial payments with cryptocurrency, voucher and reward points etc. 

The NUPay payment system is taking the lead in bringing decentralization to the world of digital financial payment system through the implementation of the blockchain technology on its system. The blockchain technology abhors any trait of centralization and third party meddlesomeness i.e. the sender and receiver of the financial payment process need not to go through any centralized body to carry out their transition. 

There is an end-to-end communication between the receiver and sender during the course of the whole payment process without the payment process passing through any third party, the implication of this is that there is much lesser charge on transaction fees, the receiver and sender are not left at the mercy of the antics of these centralized payment service providers and all the parties (receiver and sender) have access to the records of their transaction at any point and these records are transparently and immutably stored on the blockchain. 

This system of payment via the blockchain which is employed by NUPay payment system serves as a 

comforting tool for users seeking a simple and cost friendly digital payment system for

their financial transactions while serving as a distruptive element to the unjust activities 

of centralization and the third party folks in the present financial payment channels.

Some Features of NUPay

Robust web platform:

NUPay makes its services available on web platforms which are compatible and friendly on mobile and desktop devices.

NUPay App:

Since the smart mobile devices have taken the lead in the digital mobile device market, NUPay deemed it fit to develop its platform mobile app application that will seamlessly run on smart mobile devices to the comfort and needs of the NUPay App's users.

TPCT token:

TPCT is a utility token on the NUPay platform used to slash down the transaction fees of users of the platform as well as being used to bypass transaction fees that might be incurred when a user of the NUPay system wants to convert his payment amount in crypto to fiat currency on the crypto exchange.

TPCT Sales Details

TPCT has a total supply of 2.5 billion TPCT tokens and 40% of this supply is earmarked for public issuance through ICO. TPCT is issued on the Ethereum blockchain at the price of 1 ETH per 15, 625 TPCT. The ICO sales is currently taking place and will last all through the third quarter of 2019.

If you are interested in this project, you can support its creators by participating in their ICO or bounty campaign for TPCT tokens. However, before that it is better to get acquainted with their official website and documentation provided in White Paper. 

FOR MORE INFORMATION

Group in Telegram - https://t.me/NUPay_English_Comm

Official Facebook - https://www.facebook.com/NUPayKorea/

Official Twitter - https://twitter.com/NUPayTeam

Official medium - https://medium.com/nupay

Nupay Website: http://nupaymentalliance.com

TPCT ICO Website: http://tpct.io

Whitepaper: http://tpct.io/filedownload_white.php?lang=en

author:Chubylaw