I was going through the menu, sitting on the coffee table today in my favorite cafeteria. Nice ombre weather to suit the hot frothing coffee and chirpy company to enjoy with, our conversations got into the latest technologies and how they simulated our digital lives. I was all for blockchain as a future medium on which all businesses and platform would be based. I was mockingly asked how many bitcoins I had in my pocket to pay for the party they were planning right away?
And I soon realized that I could get my credit or debit cards swiped, juggle my net banking solutions or empty my digital wallets, all were welcome but for cryptocurrencies. They may be the talk of the town, hot pie of every business arena but far from being accepted as a genial mode of payment. The advent has been quite a show but acceptance is far from reality.
The cult needs to get ready for mass adoption and that will happen when cryptocurrencies get embedded into everyday commerce. The humongous $22 trillion of consumer spending needs to find their way into digital currencies as well so that someday, we might get our groceries or the latest magazine in bitcoins or equivalents. The idea is huge, BaapPay is working towards the universal adoption and acceptance through its integrated platform assimilating traditional payments and cryptocurrencies. And aims to offer wonderful opportunities to both consumers and business owners with the market capitalization of cryptocurrencies exceeding $500 billion USD which is estimated to double by the end of 2019. The red tapisms and hunches involved for merchants are an issue too for there is a cumbersome process to transact through them often with the help of third parties and apps like bitpay. Lack of knowledge, volatility issues, fear, and inadequacy are several other reasons that mar the growth. However, BaapPay will be a path breaker. Let's have a look at what it has got to offer us.
BaapPay is a fully integrated platform, that covers many aspects that are related to the payment industry. It is a Paypal interface that allows merchants to collect fiat or cryptocurrency payments for their goods or services.
Right now, the platform is working towards managing contacts and partnerships with big brands and names from the card networks, acquirers and processors, Issuers and ISOs & MSPs. It is working to obtain licenses from governing bodies of each country or region where it aims to operate.
The unique feature lies in its liquidity pool which allows for transactions directly being funded through it rather than being confirmed through a blockchain. The point of sale is instant as such.
The BaapPay is a cloud-based software, all in all, all transactions on it can be viewed anytime using the point of sale software. The POS system offers several other features such as accounting for inventory and sales or keeping track of employees and much more. It offers offline transactions as well.
They boast of an app as well The 'Baap App' that runs on Android through which merchants or users can develop their own websites. The list of benefits goes on with other ease of operations and advanced technologies.
BAAP token and ICO details
The BAAP token will serve several purposes such as merchants who use BAAP are not charged with a fee, rewards on every use of the token, the token's utility extends to the baapworld app too and it can be used anywhere on the platform itself. It is an ERC20 based token and 94 million tokens will be offered for the token sale. The pre-sale began on 1 March and ended on 10 March. Similarly, the token sale began on 10 March and ended on 13 April 2018.
** Verdict**
BaapPay presents itself as the new generation payment gateway. With its Paypal like ease and comfort, it is sure to win the hearts of merchants as well as users. The platform adopts a very mature approach and a bold vision towards bringing the masses closer to the currency and making their familiarity in sync with usage on common e-commerce portals and others. The investment will have its additional benefits on and within the platform. The idea is backed well and those supporting it will surely gain in the long run.
