REVOLUTIONARARY FOURTH-GENERATION BLOCKCHAIN
EPAY is developing a fourth-generation proprietary blockchain network that will be launched in 2019. EPAYChain will be able to:
- Federate – Send data and value between EPAY blockchain and Ethereum
- Scale – provide fast transaction processing speed and increased data capacity to the EPAY blockchain
- Spoke – allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, while allowing publishers to choose governance, consensus mechanisms, issuance and participation
EPAYChain allows merchants to integrate their existing point-of-sale device by connecting with the EPAYChain and accept payment in lieu of purchase/sale of Ethereum and sale of daily goods and services.
The following illustration indicates how a payment is made in real-time from a user’s EPAY Wallet and settled on the credit card network.
- User pays merchant using his EPAY Card
- The EPAYChain will send authorization request to EPAY
- EPAY will send an invoice through the EPAYChain to the user
- EPAY will debit the purchase amount from the user’s EPAY Wallet through the EPAYChain and simultaneously credit the payment to the merchant
EPAYChain facilitates compliant, reliable, safe, high-speed transfers between an individual who uses EPAY Card or Wallet and a merchant who uses the point of sale application.