ABEE Foundation: Choosing the right crypto
As new and unique cryptographic protocols and currencies sprout up around the world, many enterprises are quickly seeing the efficiency over the legacy card and banking systems. Although a majority of companies have yet to completely switch over to a crypto infrastructure, there are a select amount of companies helping bridge the gap to the crypto economy. The ABEE Foundation has identified specific cryptocurrencies that can be integrated and positively beneficial for all parties involved. The Foundation is primarily focused on cryptocurrencies for smart contracts, blockchain voting, and as a payment method.
One of the many things The ABEE Foundation requires ABEE companies to abide by, is the integration of cryptocurrency payments alongside legacy options to cater to a range of user needs. These ABEE companies not only benefit from integrating a cryptocurrency but also act as the bridging mechanism between the legacy financial system and the future crypto economy. To assist in pushing this new monetary system forward, ABEE companies will financially incentivize cryptocurrency usage on their platforms.
Qtum
Having launched in 2017, Qtum, has several use cases for both The ABEE Foundation and ABEE companies. To start, the Foundation’s AXB token is a QRC-20 on the Qtum blockchain. Qtum combines Ethereum’s smart contract functionality with Bitcoin’s security. With the oversaturation of tokens on Ethereum, Qtum was chosen for the diversification of their nodes, the x86 Virtual Machine, and ease of development as they cater to range of different development languages when compared to Ethereum .
The first ABEE company, ABEE Rideshare, is currently integrating Qtum’s voting mechanism so that users can vote in a transparent manner on updates they would like to see made in the next versions of the app.
Additionally, Qtum smart contracts will be used on ABEE Rideshare to instantly transfer AXB tokens to the riders who participate in On Trip Ads. After providing individualized feedback on a company’s video or image advertisement, the user will be sent an AXB balance on their ABEE Rideshare profile to be used for discounted rides in the future or to send to friends or family.
Dash
When evaluating cryptocurrencies as a payment method to host on ABEE company platforms, we looked for fast transaction speeds, low fees, merchant acceptance, reliable governance, and active development. Dash has not only shown the most promise in these areas, most notably with Instant Send, but the Dash Core Group professionally assisted the ABEE Rideshare team to a successful integration of Dash wallets into the ABEE Rideshare app. This is the first-of-its-kind rideshare application that accepts and seamlessly harbors blockchain-based payments.
When choosing payment for ABEE Rideshare, riders can select Dash when requesting a vehicle and have the exact fare and address pre-populated into their wallet. Riders simply have to hit send and their ride has been instantly payed in a peer-to-peer manner outside of the traditional banking system.
The future ABEE companies that launch after ABEE Rideshare will all support crypto currency integrations, performing similar use cases and functionality as the first company, ABEE Rideshare.
