Decentralized payments protocol
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After months of designing and developing the GoCrypto 2.0, we are finally ready to share the concept that has shaped this revolutionary decentralized payment protocol.
The GoCrypto 2.0 protocol is setting a new standard in decentralized finances, introducing blockchain payments, NFT minting, DAO governance, staking pools, a referral program, bridges, yield farming, and more, all interconnected to function both as a whole and as separate services. The protocol will connect the entire crypto community, from crypto users, crypto projects, and developers to crypto wallets, currencies, blockchain brokers and merchants.
All features will be accessible through the GoCrypto dApp with no central authority involved. The protocol will be able to support any suitable blockchain, payment gateway, crypto or fiat currency and will strive to achieve the vision “Pay with anything, receive anything”.
GoCrypto 2.0 open-alpha version, which is coming out in February 2023, will showcase blockchain payments on BNB Smart Chain (BSC) with GoCrypto token (GoC) functioning as the base currency.
GoCrypto 2.0 Payments will enable crypto and digital payments where customers can pay for their purchase in virtually any currency and merchants get settled in their desired currency as well. No usernames, no emails, no passwords required. All transactions are processed on-chain which makes them fully transparent and trackable. The protocol will initially support payments in GoC token and USDT, but will be adding other currencies in future versions.
The GoCrypto 2.0 protocol will process transactions through smart contracts, performing several actions, including swapping, exchanging, bridging and off-ramp services to deliver the final result - settling the merchant in his desired currency.
The content on the image is only used for demonstration purposes and does not represent the final product.
At the checkout, the customer opts to pay with GoCrypto 2.0. Merchant generates a payment invoice and activates the Pay By Link feature. The customer accesses the link, which leads him to our Web3 payment channel containing a list of all available payment methods. The customer can choose between payment methods and available currencies, including MetaMask, other crypto wallets and digital payments. Once the customer selects the payment method and confirms the transaction, the payment transaction is complete.
The content on the image is only used for demonstration purposes and does not represent the final product.
Merchant onboarding will take place in the GoCrypto dApp, where users will be able to select between Web3, Blockchain Broker or other services.
Web3 payments: Merchants will be able to generate invoices and settle in crypto without any KYC requirements. They will access the merchant dashboard by connecting their MetaMask wallet and choose their desired wallet address for settlements.
Payments through blockchain brokers: Merchants who will choose to be settled in Fiat will need to complete KYC and AML requirements with a relevant blockchain broker. The broker will act as their off-ramp provider and settle merchants in fiat directly to their bank accounts.
In the future, our payment protocol will also enable DAOs and smart contracts invoice issuing, opening a whole new world of financial options to both individuals and companies.
The content on the image is only used for demonstration purposes and does not represent the final product.
Our new protocol is based on complex next-level tokenomics involving GoC token-based DAO governance, staking, yield farming, referral program, and more. All features will enable users to participate in the protocol and participate in the distribution of the transaction fees. The GoC token will provide the tokenomics foundation.
NFT-minting, staking and other DeFi services will be explained in detail in the upcoming weeks.
The above mentioned features are only the beginning of what is to become the most technologically advanced decentralized payment solution in the world. The list of services that we have planned to integrate into the protocol is long and each needs to be detailed to perfection before going live.
The end vision is a protocol, supporting all major blockchains, currencies, gateways, wallets and others, creating a true all-in-one payment solution “Pay with anything, receive anything”. Cryptocurrencies, digital payments, loyalty cards - all coexisting on blockchain and being interchangeable at any given moment.
Crypto projects, developers, crypto users, welcome to join us in building the future of payments.
Knowledge is power, but cooperation is the key to success.
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