The blockchain economy’s promise when it entered the financial ecosystem was to challenge the status quo and make the market more democratized. However, nothing much has been done to revolutionize the blockchain economy, which, to this day, is a cause of concern for many countries.
Whereas the unbridled freedom it offers is a nuisance for some particularly hegemonic governments, the complexity of blockchain technology is a nuisance for those who want to just make payments simply.
SpacePay has a solution, and it is a combination of rewards as well as an app that could change the way people perceive crypto forever.
SpacePay Addresses the Current Inefficiencies of Blockchain Space
There is no denying that the world of blockchain finance hasn’t received the most adoption. From complexity to volatility, there are multiple reasons people turn away from it.
Furthermore, existing solutions related to crypto payment have either been cost-unfriendly or inefficient. Operating on centralized models, they are prone to the same issues as a standard fiat wallet. Delays in payments are common, and the friction created when handling high transaction volume is high. And what can be said about the network congestion and service disruptions that hasn’t already been said?
Solana, one of the world’s biggest blockchains and considered a champion for more eco-friendly crypto investing, has experienced half a dozen outages this year alone. This will likely continue.
Another issue is the lack of accessibility when it comes to existing crypto payment solutions. Most crypto payment providers only support Bitcoin or Ethereum. While Dogecoin and Litecoin often do make an appearance, crypto payment solutions of today are archaic, focusing only on a limited range of cryptocurrencies.
The SpacePay solution comes in the form of a two-pronged approach. Providing a terminal-agnostic payment protocol, SpacePay integrates with card payment machines as well as cryptocurrency wallets.
That makes standard crypto transactions have a similar feel to what’s already done in the digital economy. Users will be able to use their phones to interact with a merchant’s payment machines easily.
While this concept is simple, SpacePay has removed the roadblocks that made it impossible to implement properly before.
How Does SpacePay Work?
Take a merchant, for instance, who has a card machine available, allowing users to use their credit/debit cards, Apple Pay, or Google Pay to pay using fiat money. What is the merchant’s trepidation when accepting crypto? There are two concerns.
One, they have no way to accept it other than using their own wallet. And two, the volatility of the crypto space doesn’t make it sensible for them to get paid in crypto, considering its value can drop quickly.
These are the roadblocks that SpacePay fixes in two ways.
One, its terminal-agnostic system is integrated with the card machine easily so that merchants don’t need a wallet. The wallet also has a crypto-to-fiat converter that would instantly make the conversion should the merchant choose to do so.
Secondly, SpacePay focuses on the fiat price to decide how much crypto has to be transferred from the customer to the merchant. For instance, if the Dogecoin price in USD or other fiat changes during transit, the number of DOGEs sent from customer to merchant will change depending on the agreed-upon fiat price.
On the customer’s end, the same terminal-agnostic solution is integrated with cryptocurrency wallets. That gives the wallet an interface similar to any traditional payment app, making transactions possible by a simple scan of a QR code. There won’t be any need to enter an address or set the gas price. Everything will become autonomous.
Other facilities arrive for the customers and the merchant with the aid of SPY token, which is a crypto asset with many use cases.
Role of SpacePay’s Native Crypto – SPY
The entire SpacePay ecosystem is being powered by the SPY token. This crypto asset is designed to be a DAO asset as well as a utility crypto that makes engaging with the ecosystem rewarding.
Users will be able to get access to loyalty airdrops by interacting with the SpacePay ecosystem on a regular basis, which will be based on a revenue-share model. Additionally, voting power will be provided for investors holding the token to decide the future of SpacePay.
With new initiatives, new features, and token-related decisions, it will become feasible for token holders to become more empowered and ensure that the project aligns with the needs of the community.
With an additional benefit of early access to specific features, people will gain even more rewards. The SpacePay team also aims to conduct regular webinars quarterly to take feedback and develop strategic plans with the community itself.
SpacePay Raises Over $800k to Date – Buy SPY at a Discounted Price
The factors mentioned above have allowed the SpacePay token to raise upwards of $800,000 to date. With the token available at a discount price of just $0.002507, now is the perfect time for early investors to get in.
Final Words
SpacePay has multiple unique attributes, making it a suitable option for those looking to make more gains over a longer timeframe. A presale investment opportunity aside, the token’s payment ecosystem can potentially make blockchain technology “not too intimidating” to deal with, ensuring that it can benefit from this unique ecosystem.
To participate in the SpacePay presale, visit the official website today.
