GRAFT A DECENTRALIZED PLATFORM THAT WILL CHANGE THE PAYMENT PROCES...

## PREAMBLE
Over the years, it is evident that every major industry have invested heavily in technology which has brought about a lot of changes in our society. Cryptocurrency as a decentralized platform technology is becoming a widely accepted form of storage used in storing values but the problem we have is how we can make this values easier to spend for day to day items. It is certain that stores do have POS machines but the time to adapt their businesses to accept cryptocurrency is hard because bitcoin which was created as an online cash has its relative slow settlement system that is unable to replace payment cards online and it has a lesser competitive strength with paper cash at brick stores, because of this there was an emergence of some cryptocurrency and cryptographics whose aim was to help improving confirmation times, but the platforms was unable to processed essential transactions such as authorization and completion which was the main reason why transactions between retail, hospitality and convenience store industries was not successful without the help of intermediary Payment Processor and gateway.
Some merchant are unable to accept cryptocurrencies without utilizing a third party payment processor due to the uniqueness of blockchain network processing transactions and this process is different from traditional electronic payment system despite some flows such as user trust.
Due to differs differences between the ways traditional and cryptographic or cryptocurrencies payment system handles transactions which make cryptocurrencies and cryptography unaccepted by merchant are
• Lack of essential transaction types
• Unsuitable payment flows
• Long confirmation times
• Unbalanced and unpredictable transactional fees
• Inability to process micropayment and repeating charges
• Lack of transactional support
• Low scalability
• Volatility
• Incomplete Security
• Lack of privacy due to traceability of blockchain
• Questionable utilities
• Poor usability of end to end interfaces
• Lack of customer support
An attempt to solve this issues prompted SLAVA and DAN in the discovery and establishment of GRAFT (GLOBAL REAL-TIME AUTHORIZATION and FUNDSO TRANSFER)

WHAT IS GRAFT

It is an open global decentralized platform for processing real-time authorization and settlement of merchant payment either through funds transfer using traceable blockchain decentralized API and an open community of service brokers that support a variety of payment and pay out methods including banks transfer, cryptocurrencies, cruptographic tokens and traditional credit cards. GRAFT having finished their ICO and having functionable mainNet that allows businesses to accept cryptocurrencies payment without any hassle.
Traditional payment were done with the help of payment forms such as debit and credit cards but to day, GRAFT comes with the best payment terminals that will handle payment which could be done through the integration of verifone and ingenico payment terminals whereby existing stores owners can install a free application on to their terminals and start accepting payment in cryptocurrencies.

The use of traditional payment system makes integration fees for every transaction expensive thereby initiating high cost of transactions which affects the customer. It’s true that typical credits cards charges merchant 2 to 3% in everytransaction made., but Real Time Authorization (RTA) base GRAFT transaction charges is fixed 0.5% across all volumes plus 0.25% to 0.75% for SLA and services which means GRAFT cost merchant about half of what credit cards are charging them.

HOW GRAFT SOLVES SCALABLE ISSUES AFFECTING THE THE TRADITIONAL AND CRYPTOGRAPHIC PAYMENT SYSTEM

Graft was able to solve the issue of lack of essential transaction types

This was one of the major challenge encountered by crytographic payment system through the following transaction types in order to facilitate and support merchant existing payment and point of sale applications are

• AUTHORIZE TRANSACTIONAL TYPE
This is used when the amount of transaction is not known at the initial time of transaction. Here transaction is initiated by the merchant and completed by the payer. This authorization can be used through the cancellation of issued transaction.
• PRE AUTH TRANSACTIONAL TYPE
This is different from long term authorization because there is no guarantee of availability of funds before the time of completion
• COMPLETE TRANSACTIONAL TYPE
This is the finalize payment initiated by authurized or pre authorized transaction it can either be less but it does not exceed the amount, authorized.
• SALES TRANSACTION
It is an authorized, complete, processed and automatically by network. It’s normally used by merchant at online, brick or mortar stores.
• TRANSFER TRANSACTION
It is just like sale transactional type, here it’s initiation is from sender without receiver consent. It can be used in peer to peer exchanges, payment and transfer between different account
• CANCELLED
It is used in canceilling and released of authorize funds
• ISSUE
This is used to activate GRAFT prepaid cards
• REDEEM
It allows payment using prepaid cards
• EXCHANGE
It is used to exchange funds between GRAFT tokens and major cryptocurrencies
• SCHEDULE
It is used to schedule a transaction at later times.
• ESCROW
It is used to attached event trigger when funds will be released
• REFUND
It’s requires Return Merchandise Authorization (RMA) to return referenced funds by transaction pointer

THE ISSUE OF LOW SCALABILITY

This issue is solve through GRAFT network by decreasing the block creation interval to 2 min and removal of size limit so that transaction blocks could be created in order to accommodate more transactions.GRAFT is been maintained by high performance supernodes that validate and authorized transactions in real time.

THE ISSUE OF SECURITY INADEQUACIES

Security of a payment system is not just information security It should also be financially security as well. In addition to the Inherited security featurre by other cryptocurrencies GRAFT has added several enhancement whereby buyers and merchants can benefit and this are
• AVAILABILITY
This is by ensuring that distributed network are always on supernodes will cause an overall availability of network. The client Apps communicates with supernodes simultaneously in order to obtain a consensus requirements for authorization and other supernodes are down they will be replaced by the authorization list of the candidates that contains unending number of candidates
• IDENTITY MANAGEMENTS
There is a big risk in relying on the wallet to do user payment managements so therefore implementation of a distributed identity provider service availability to wallet as an open ID connect OAuth 2 API call. It also prevent compromise user identities, relays and main in middle attacks.
• IDENTIFICATION AUTHENTICATION AND AUTHORIZATION
With this there is an establishment of trust between2 parties regulations and compliances has to dealt with that. Why GRAFT sees authentication and authorization as an important issues is that GRAFT expect the client application to comply with identity verification standard relevant to the specific laws of each jurisdiction. Supernodes will provide resources for machine based identity, verification and fraud detection to assist merchants with compliance to integrity of payment network and safety of the transactions in order to limit exposure of user identity information. GRAFT facilitate request for sharing identification attributes such as age and address to ensure compliance with local laws and regulations. graft also allows multiple user control of merchants account. In terms of multifactor, authentication and Biometric GRAFT Implement advanced authentication that goes along with the user management service, which will include risk/threat analytic based on login/usage pattern as well as device and network features and sophisticated multifactor based authentication includes biometrics, FIDO, etc.

VOLATILITY

GRAFT resolves the issue of volatility by using instant real time transaction settlement which minimizes possible loss of value due to volatility. The merchant payment app can automatically adjust the transaction amount to the current exchange rate and redeem it’s local currency through online exchange rites after transactions are complete.

PRIVACY

GRAFT ensures privacy in any transaction that is carried out by implementing a digital identity profile which gets attached to GRAFTWALLET, Based on user permission at the time of transaction, the digital identity has the ability to share data from within itself and counterparty incrementally. It also implement cryptonote which is an underlying transaction recording protocol which provides a high degree of privacy when compared with bitcoin and other cryptocurrencies by hiding information about the sender and receiver.

HOW GRAFT REAL TIME AUTHORIZATION ALLOWS MERCHANT TO OPERATE THEIR BUSINESS AS USUALS

RTA enables merchant to operate exactly the same way as they always did through implementation of two layer network of supermodel that confirms, validate transactions and exchanges in real time by enabling a payment processing space that enables retailers to continue with their business practices, unchanged while adding support to cryptocurrencies and I believe that GRAFT through its services will closely resembles the modern credit card system by doing what credit card does for both merchants and customers.