PyaPay: A Pull Payment Protocol

Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

For this reason, the project I am going to present you is PyaPay, a pull payment protocol platform based on blockchain technology.

Definition

As I said before, PyaPay (PYP) (https://pyapay.co) is an open source Pull Payment Protocol platform that is a complete blockchain solution and offers robust payment mechanisms that are much more credible, efficient, flexible, cost-effective and scalable than current implementations..


Goals
The main objective of the Pyapay platform is to from the beginning specifically to overcome the existing obstacles and offers a set of developed tools to facilitate the processes of incorporation so much for companies as for individuals. Therefore, unlike current payment methods, which include credit cards and virtual currencies such as Bitcoin, PyaPay will design the Protocol of Payments Pull as a method other than these.


Benefits
The Protocol will be a comprehensive solution that offers robust payment mechanisms that are much more credible, efficient, flexible, cost-effective and scalable than current implementations. The solutions offered by the PyaPay Protocol will create business opportunities and contribute to the PyaPay ecosystem.

Roadmap

Airdrop

The project gives the opportunity to earn PyaPay tokens (PYP) performing some social media tasks and doing simple steps from the bounty program explained into 'Telegra.ph'. Here (http://telegra.ph/200K-Bounty-Campaign-PyaPay--Comprehensive-Blockchain-Billing-Protocol-04-13) you can access to the link in order to see what are the conditions to become an early PYP contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://pyapay.co/index/docs/PyaPay_whitepaper.pdf). You can also stay tuned in their official Telegram group (http://t.me/PyaPay). I hope you liked the post and soon I'll send you new ones.


Extra details

Token: PYP
Platform: Ethereum
Type: ERC-20
PreICO price: 1 ETH = 5000 PYP
Price in ICO: 1 ETH= 2500 PYP

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Author details

Telegram username: @clauming

Bitcointalk username: adriaparcerisas

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482

Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71