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THE NEED FOR A FULLY DECENTRALIZED NON-CUSTODIAL VOUCHER

After the introduction of cryptocurrencies, there has been mass adoption of blockchain. One of the core benefits of decentralization is that no one has to know or trust anyone else to perform a transaction. In other words, decentralization ensures that the blockchain is not governed by an individual, group, or even the government. Understanding this basic introduction sets the tone for the need for a decentralized non-custodial crypto voucher.

What is a Crypto Voucher?

Crypto Vouchers follow the trend of a normal digital voucher. These electronic vouchers, also known as E-Vouchers, use cryptocurrencies as their delivery method and are thus delivered to a recipient through emails, SMS, or social media apps. Most times these crypto vouchers carry personalized and branded messages.

The benefits of these digital vouchers cannot be overemphasized as they have made gifting digital assets pretty easy and seamless. With crypto vouchers, there are no exceptions as one can exchange their vouchers for cryptocurrencies.

Vouchers, therefore, are known as a method of gifting and this concept also applies in the world of cryptocurrencies, so with crypto vouchers, cryptocurrencies can be delivered in the form of gifts and rewards. Realizing that crypto gifting has become one of the major market play strategies in terms of giveaways and task rewards brings forth another value-added use case of crypto vouchers. But why then is there a need for a fully decentralized voucher?

The need for a decentralized Crypto Voucher

Centralization has eaten deep into the world of digital finance for many decades now. As large volumes of data are created each day, these data are exchanged and sold for huge amounts without the consent of the data creators by third-party players or intermediaries whom we can rightly define as centralized agencies. This is a serious infringement of a fundamental human right- the “Right to privacy” but has always been played under the carpet. With centralized agencies at the hem of affairs, it is understandable that they become the first creators of crypto vouchers and so centralized exchanges such as Binance, Coinbase and others have in place vouchers that can be redeemable only when certain conditions are met. Sadly, such conditions fall under private and personal data releases as their users must create sign-ups and provide personal details before their vouchers can be redeemed. Because centralized exchanges are licensed by the government and are linked with different federal, regional, and private agencies, users have little or no control over how their data are controlled, distributed, or even sold.

Overall, centralized exchanges have total control over creation and redemption with the users having little or no say in how these operations are being carried out. At this time users only can redeem and not create directly or set conditions that will give them total control and autonomy over the voucher.

With all these being mentioned, it is only necessary to demand a robust and decentralized, non-custodial voucher that will give control to their users as regards creating, redeeming, and setting certain conditions that would promote users’ interest.

A decentralized non-custodial crypto voucher that is known to have met all of these conditions is the Safient Voucher.

Safient Vouchers

Safient is a generic protocol that has introduced Crypto Vouchers as one of its main solutions. The Safient Voucher (https://voucher.safient.io) portrays a new method of gifting which is more secure, safe, convenient, fully robust, and completely decentralized.

Admittedly, centralized exchanges are still the powerhouses of digital gifting and the use of vouchers, but a non-custodial approach towards gifting remains the ultimate solution towards self-custody. With Safient Vouchers, issues surrounding privacy and data releases are dealt with as users of the Safient Voucher do not need to create any sign-ups or release any private information to create, redeem or even share a voucher.

Safient’s biggest strength is that users have total control of the vouchers they create as users can set certain conditions such as expiry dates, or even revoke the voucher before redemption. At this time, only Safient Vouchers offers users the ability to create, share, and redeem a voucher.

Safient Voucher Use Cases and its Perks

The Safient Voucher is a value-added asset to the cryptocurrency as its use cases vary and cut across all facets. Let us elaborate on its uses cases in the next paragraphs to follow

  1. Crypto gifting: Individuals who would like to gift digital assets in form of cryptocurrencies have the liberty to share crypto gifts in form of vouchers using the Safient Voucher. All they need to do is create their desired amount and share the voucher link with whomever they wish to gift crypto.
  2. Giveaways and Contests: Undoubtedly giveaways and contests are market play strategies that are employed to incentivize various community members in the Web3 space. For these giveaways and contests to be successful, wallet addresses are required and most times errors in typing can lead to sending digital assets to the wrong person which might lead to a waste of funds. But with the Safient Voucher, Founders and community heads do not need to request for wallet addresses of their participants or winners instead they can incentivize giveaway winners with vouchers by simply creating, and setting required conditions that suit them and thus share these vouchers as rewards through a link to required participants. Participants on their own are only required to redeem their vouchers to their designated wallet addresses.

3. Share and Transfer of NFTs: For an NFT transfer to be successful, a wallet address is required. Again and again, people send NFTs to the wrong wallet address because of issues surrounding typographical errors. NFTs are significant digital assets in today’s world of finance as millions of dollars are stacked into them every month. With so much value placed on NFTs, it is only wise to provide a secure and convenient means of transferring and sharing NFTs. With Safient Voucher, one can share NFTs directly as vouchers without asking for the recipient’s wallet address. The steps involved in this process remain the same with the general use of the Voucher. Simply create a voucher containing an NFT and then share it with a recipient who would conveniently redeem the voucher directly to his or her wallet address as an NFT. The Safient Voucher 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.

To join the Safient Voucher waitlist to gain early access, use the link below.

https://voucher.safient.io/

Interested in knowing more about Safient Protocol, there is a growing community on discord, so you can be a part of the community by joining the discord link below.

https://discord.safient.io

Also, catch up with the latest insights and activities in our ecosystem by tapping on our Twitter link below

https://twitter.com/safientio

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Vite Viteson

Content Creator, Community Lead, Crypto Analyst, Web3 and DeFi. Pharmacist in training.