SAFIENT PROTOCOL INTRODUCES A NON-CUSTODIAL CRYPTO VOUCHER.
SAFIENT VOUCHERS — A NEW DAWN OF CRYPTO GIFTING IS UPON US
For centuries now, gifting has become an integral part of human life, humans place a high value on gifting as this is a strong display of love and affection, especially during special occasions. Cash and physical collectibles for many decades now have been the most common gifted items. One of the used methods for gifting has been without the use of a middleman.
Traditionally gifting without intermediaries or a middleman is well known, and was made possible through direct dealings which can also be described as a one-to-one transaction system.
However, the evolution of technology brings forth innovations for a better approach to gifting. In recent times a middleman plays a vital role in gifting and transferring assets. One of the common use cases is the use of vouchers.
Vouchers are redeemable gift rewards that can be exchanged for goods and services. With recent technological advancements, these vouchers are usually in the form of gift cards that are easily redeemable through an exchange or a custodial service that plays the role of a middleman or an intermediary. A typical example is the amazon gift card which is redeemable with easy peasy steps on the amazon website. These gift cards have been wide in circulation for many years now as they have proven to be a fast and efficient way of gifting digital assets without much stress.
Furthermore, the emergence of cryptocurrencies provided us with a much more scalable approach to buying and selling digital assets. With the use of wallet addresses, a large volume of transactions is being carried on in the shortest possible time frame. And with every concept of buying and selling used for gifting, cryptocurrencies are not left out as well since these are known tradable assets. But with cryptocurrencies comes a twist.
Originally the idea behind gifting digital assets in form of gift card vouchers was to eliminate guessing from gift-giving, giving the recipients total freedom and a form of interdependence. And most times, giving gifts is about the thoughtfulness behind the giving, not the price of it. All of these cannot be satisfied with normal wallet-to-wallet transfer of crypto assets as the sender would need to know the wallet address of the recipient and would also need to be specific in terms of the amount to be sent to the recipient. This thus brings in high demand the need for a crypto voucher service.
Crypto Voucher Service
Crypto vouchers provide the easiest way to gift and reward cryptocurrencies. Usually, these crypto vouchers are redeemed through a centralized cryptocurrency exchange. These exchanges are online platforms used to buy and sell cryptocurrencies. One such service is Binance Gift Card (https://www.binance.com/en/gift-card/). Primarily, the core aim of these exchanges is to serve as intermediaries or middlemen between the gifter and the counterparty. The idea of using a centralized exchange for this mode of transaction implies that third-party access is approved, and so an individual would need to go through these intermediaries for such crypto to be redeemed. The involvement of third-party access to a crypto voucher service implies that recipients or users of centralized crypto exchanges do not have full autonomy over their assets, this is because centralized exchanges are licensed by the government. As a result, they have to follow strict government laws. The know your customer (KYC) verification at some of these exchanges is similar to those of big banks. It is also of importance to note that these centralized exchanges deal with a variety of regional and federal government and private agencies, and so the data of these exchanges may also be assessed by these agencies. With all these being analyzed, it is obvious that centralized agencies do not in any way support privacy protection and this can be made applicable to the use of vouchers which stand out as our area of focus in this article.
Furthermore, there is a high need for an exchange system in terms of crypto voucher service, one in which no third-party access is allowed thus holding to high esteem decentralization and self-custody, which is the core principle of cryptocurrencies and yet providing all the voucher features that custodial service provides such as creating and redeeming the crypto with specified conditions such as an expiry date
Interestingly, Safient Protocol has initiated a non-custodial voucher service called Safient Voucher (https://voucher.safient.io/) this is one of the many solutions being built on Safient Protocol.
With the Safient Voucher, crypto gifting becomes much more secure and convenient with the non-custodial ship feature.
While centralized exchanges continue to be the powerhouse of digital gifting with the use of gift cards. A non-custodial approach towards gifting which in effect promotes decentralization to the fullest is highly needed, thus bringing forth a high need for crypto voucher services such as the Safient Voucher.
With 3 simple steps, users can gift, buy and sell vouchers using Vouchers By Safient
- Create a voucher
- Share voucher
- Redeem Voucher
The Safient Voucher is accessible by anyone as gifting of crypto has never been made easier. You can now gift crypto without knowing the wallet address of the end user. The voucher redemption gives access to the crypto and they can spend however they wish. But for better management, several services will be integrated. These services may include airdrops, NFT and crypto giveaway sessions, and many more.
At this time, there is an early access program as it is in its alpha test-net and so few people are being invited to access it before its full launch to the general crypto world.
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