Bezant — A new payment system based on blockchain

Bernd Reyes
Sep 5, 2018 · 4 min read

Bezant’s goal is to serve as an online end-to-end distribution and payment platform for global buyers and sellers. Therefore, we plan to provide payment solutions to e-commerce markets for goods and service marketplaces, like Amazon, Taobao, etc., and digital content stores, like Google Play, and other third-party app stores. We believe that our strengths are in being able to:

  1. Diversify and create another distribution market for digital content and e-commerce,
  2. 2) Reduce costs and charges to both customers and merchants by disrupting digital payments; and

3) Provide inclusion to the largest and fastest growing market in the world, the emerging markets

The Bezant Blockchain is a Service platform providing Content developers and e-commerce merchants a disruptive way to sell to customers by:

  1. Allowing anyone to setup their own Content or Commerce store and send/receive payments from anywhere in the world using local payment methods.
  2. Proving the BZNT token which will serve as the native cryptocurrency and medium of exchange within the Bezant platform which will eliminate expensive Store fees (30%) and provides instant P2P payments to merchants.
  3. Targeting up to 1,000 transactions per second using Bezant’s blockchain. This would enable the Bezant to process more than 2x all of the paid apps sold across all app stores in 2017, globally.

Bezant Features:
1. Identity Authentication Service (IAS) — The Bezant blockchain is based on a private and permissioned network, therefore an Identity Authentication Service will be required. End users of the Bezant network must enroll through a Identity Authentication Service (IAS).

2. User Client (Application) — The client is an SDK for authentication and communication and is required for access to the Bezant blockchain. It represents the entity that acts on behalf of an end user. It must connect to a peer for communicating with the blockchain.

3. Peers — A blockchain network is formed from peer nodes, each of which can hold copies of ledgers and copies of smart contracts. A peer is a host for ledgers and chaincodes therefore, applications interact with peers to access resources. A peer also receives state updates in the form of blocks from the Orderers and maintains the state and the ledger.

4. Orderers — Orderers form a block by sorting the validated transactions from the Client and is responsible for distribution throughout the blockchain. This is the only cluster-based service provided in the blockchain and provides for continuous and uninterrupted service. As the Bezant blockchain service does not require mining on a public blockchain, it deals with real-time transactions based on trusted users. Therefore, it can deal with significantly higher throughput and lower fees (or no fees) than existing cryptocurrency blockchain protocols such as Bitcoin and Ethereum.

On top of this blockchain, the Bezant service platform will provide a Blockchain as a Service (BaaS) system design, which will allow Service Partners to create dynamic blockchain-based services for their users.

There are primarily two types of users for the service platform:

  1. Enterprise users and
  2. Individual end users who indirectly use the platform via Service Partners. The number of users on the blockchain and platform will increase as the Bezant network of Partners grows. The Bezant blockchain will provide
    multiple authentication services for each user and will create multiple channels to help ensure that there are no security problems.
  3. The key attribute of the Bezant blockchain service will be efficient processing. Since the blockchain is based on a permissioned network, all participants are known and trusted, therefore, fewer levels of trust and verification are required across node types, and network scalability and performance are optimized.

RoadMap

Token Sale Details

Whitelisting: April 23, 2018 9:00 AM SGT (Singapore time)

KYC: Yes, required

Public pre-sale: May 03, 2018 9:00 AM SGT (Singapore time)

Ineligible countries: USA, China

Token unit: Bezant token

Token type: ERC20

Symbol: BZNT

Fundraising goal: US$40,000,000 (Hard cap)

Total tokens: 1,000,000,000 (one billion)

Available for token sale: 50% of total tokens issued

Useful Links
Token Website: https://bezant.io/

Roadmap/Team: https://bezant.io/#roadmap

Whitepaper: https://cdn.bezant.io/bezant/Bezant_WP.pdf

Twitter: https://twitter.com/bezant_io

Facebook: https://www.facebook.com/bezantofficial

Instagram: https://www.instagram.com/bezant_io

Announcement channel: https://t.me/bezant_io

Conclusion: Bezant platform looks promising as the project clearly state of resolving some of the common issues we are experiencing in the payment systems. But still this project has a lot of room for growth and need to be worked on in order to fulfill its goal. I do not recommend this personally but i can see that this project has a bright future.

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