PayCoin

PayProtocol is a simple and convenient cryptocurrency payment platform for both e-commerce and retail use. It is a cryptocurrency project supported by Danal, a payment company based in South Korea.

By combining Danal's 20 years of experience in payments with blockchain technology, PayProtocol aims to mitigate the pain points of traditional payment systems, mainly excessive intermediary processes and high fees caused by them and slow payment schedules.

Based on hyper ledger fabric private blockchain system

PayProtocol has been developed on Hyperledger Fabric(HLF). Unlike general blockchain where unspecified people participate in data processing, HLF is a private blockchain where only authorized node can join the network. It ensure fast transaction and excellent privacy which makes it best suited for payment services.

PayProtocol aims towards bridging the gap between users and merchants through blockchain technology. Which is why we provide an easy integration tool fit for both retail and e-commerce settings. PayProtocol provides API and SDK for e-commerce integration, development API for retail Point of Sale (POS) device, and smartphone POS apps for merchants that cannot install POS systems. This allows us to connect all payment channels via a single solution.

PayProtocol allows users and merchants to choose the currency when trading. PayProtocol supports a broad range of cryptocurrencies, including BTC, ETH, and stable coins, and fiat money as well. Users and merchants are then free to use whichever currency they want when they make and receive payments. Additionally, PayProtocol has an integrated native token PAY. Validators are chosen based on the Pay Token Holder's votes. Pay Tokens contribute to the Promotion Pool that incentivizes trading. A portion of the Pay Tokens are credited to the Customer Payback Pool. Staked Pay Tokens also enable faster settlements.

PayProtocol has obtained over 20 years of payments knowledge and merchant relationships from Danal, and has the ability to provide an effective management system based on the transaction data. PayProtocol provides an integrated merchant management system that allows merchants to manage their transactions, apply promotions, and specify other payment-related policies. Using this system, merchants can manage their information and data for each channel under a single window, select promotions including discounts and coupons, and manage other transaction policies.