Cardstack is building a decentralized software ecosystem to compete with the Software-as-a-Service (SaaS) offerings of Silicon Valley. This ecosystem combines open-source development tools with a user-friendly environment, backed by smart-contract-based protocols.
In order to create a new software economy that runs on crypto payments, it is essential to find a better way to pay for software — transactions must be fast, easy, and cheap instead of slow, difficult, and expensive. That is what Card Pay is all about.
The Card Pay Protocol is a decentralized finance protocol with the idea of both individual control and group dispersion. Transactions are done on-chain, where we can pool the money together and distribute it proportionally to the different participants who have made contributions to the network.
In other words: The Card Pay network allows customers to buy products and services from merchants using prepaid cards, while contributors like issuers, suppliers, or developers receive a portion of the revenue.
“CARD Protocol is Customer Acceptance (CA) and Revenue Distribution (RD). By combining CA and RD, you get the acronym CARD.”
– Chris Tse, Cardstack Founder
If you are interested in the details of the Card Pay Protocol:
This paper provides an in-depth explanation of all the different aspects — from the building blocks, workflows, and payment scenarios all the way to incentives, governance, and the role of the Cardstack Token.
Alternatively, watch Chris Tse’s product talk, where he gives you an overview of the protocol by walking through the paper step by step — elaborating on the idea behind the protocol, the future users, the different roles, and much more.