Whether or not you’re familiar with the MetalPay Coin or you understand how Peer-to-Peer payments work, it’s hard to deny the benefits of using the MetalPay app.
The MetalPay MetalPay Coin is a cryptocurrency and blockchain-based system that uses Proof-of-Processed-Payments (PoPP) to reward users for making payments in US Dollars.
What is MetalPay
Think of it as using the Venmo platform to send money to your friends, but when you pay your friend $100 for covering the dinner bill, you’ll receive up to $5.00 in cash-back rewards in Bitcoin.
Whoa, is right.
So, MetalPay wants to reward users for using their iOS app when they send money to friends, family, employees, etc.
This means that if you were to pay $1,000 in rent with the Metal Pay app, you would receive up to $50 in cash-back rewards.
Yes, you would save $50 on your rent each month.
How is that possible?
Over 21 Million Metal Pay tokens were purposely reserved to build this rewards system. Setting aside this fund was a deliberate plan to shake up the payments industry.
How can they sustain this?
Everyone seems to ask this question, but we never seem to question how Capital One or Discover Card can do it.
Yea, let that sink in for a moment.
MetalPay plans to sustain the rewards feature through the creation of new financial products and services for the future economy. Also, as the value of the coin increases, the value of the 26 million reserve tokens will increase.
Imagine this
Let’s say the token is valued at a measly $50.00.
Seeing that most cryptocurrencies that will withstand the current market shakedown will be worth thousands of dollars in the future, I think $50.00 is reasonable.
If one token were valued at $50.00, then the 26 million tokens would be valued at over 1 billion dollars. Therefore, the rewards system would not be jeopardy anytime soon.
Very cool and exciting stuff is coming out of the San Francisco based company that has an emerging Twitter profile and growing audience. We’ll have to wait and see how the adoption of this app plays out. Stay tuned.
