PAYMAZ- A Blockchain Powered Digital Currency Payment and Exchange Processor

Jul 9, 2018 · 3 min read

Digital Currency and the New Economy

Digital currency is a start of a revolutionary change in the world of finance. The coming of digital or crypto-currencies is set to change the way economies function. Cryptocurrencies will make borders and states irrelevant for financial transactions, bringing out the real potential of free trade and globalisation. The digital currencies, free from arbitrary regulations by political bodies, are set to create a new trade regime which seems to be genuinely equitable and inclusive of all. Guided only by the market forces, the institutions driven by these currencies reach out to the populations who are excluded by the conventional financial institutions. Thus, the digital economy is set to be much far-reaching and accommodating than the conventional economy. ICOs have recently changed the way businesses are funded, thereby, bringing in a wave of new digital currencies.

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At the heart of all digital currencies is the blockchain technology. The blockchain technology, which allows for storage of transaction data, time-stamped within a distributed network of servers, makes the cryptocurrencies capable of avoiding the problem of double payment and fraud without involving a centralised server. The result is an independent and freely existing currency, a store of value which cannot be easily tampered with, a stable form of investment which is free from all regulation and dependent only on the market forces; a sort of liberal utopia.

The Role of Exchange and Conversion Platforms

In spite of its apparent independence, cryptocurrencies are virtual entities. Moreover, to derive the value from these, it is essential to have a method of converting them to widely accepted forms of crypto, like Bitcoin, into fiat, or some other kind of liquid asset. The process is generally complicated and requires a dedicated brokerage platform. However, even via such platforms, the process is often time-consuming and even expensive.

Without overcoming these problems, cryptocurrencies can hardly be used to their fullest potential. In this respect, Paymaz has a significant role to play.

Paymaz as a Blockchain Powered Digital Currency Exchange Processor

Paymaz, in its bid to do away with these problems, has developed a unique blockchain-based system which can effectively execute the processes of exchanging between different currencies. The proprietary blockchain technology achieves the speed and transparency of the distribution process. Added with its POS network, it becomes one of the best ways to derive value from your crypto assets.

Paymaz is a platform that has created an ecosystem for the complete crypto lifecycle — from buying cryptocurrencies to exchanging them to using them as medium of exchange. It is a dedicated, comprehensive and technologically-advanced platform that merges safety, security and ease of operation. It helps save on time, transaction fees and provides an optimum crypto experience.

Parting Thoughts

Thus, for any such platform now it is essential to have a strict regularised, registration process. In this respect, Paymaz is a pioneer with its easy one-time registration which is quick and straightforward. Yet it is compliant with all the standard norms for registering to online financial institutions (KYC, AML) and preventing the registration of fraud customers, making Paymaz one of the safest blockchain-based exchange and payment processing platforms in the world.

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