Whilst blockchain technology has a multitude of purposes (one only has to shoot a quick glance at the many diverse ICOs out there), the main one is still money and financial transactions. It is easy to understand why this is the case given the many intermediaries involved in financial transactions between companies. Every middleman adds to the financial costs associated with transactions, and cryptocurrencies are a great way to circumvent that problem. Payera is an an ICO that seeks to challenge the status quo by eliminating the need for any intermediaries, and thus reduce the costs associated with transactions.
What is Payera?
The team behind Payera brands the platform as the first cryptocurrency payment platform with a multifunction solution that is secure and easy to use. These multiple function come in three forms: Payera, Shopera, and Cardera. Payera itself is a payment platform, and comes complete with both buyer and seller protections. There will also be an in-built exchange that user can utilise, instead of having to use third party exchanges. The platform is also operate on a ratings system, which buyers and sellers can use to assess each other, similar to platforms like eBay. The assessment made by the buyer of the seller, however, has an important effect on the seller’s capabilities on the platform. If the seller has a good rating, they will be able to receive direct payments and have lower transactional fees associated with the sale. Both buyers and sellers will have a digital wallet assigned to them to use on the platform. This wallet will be protected either with a PIN code, a fingerprint, or face recognition, depending on the user’s smartphone capabilities. In addition to the platform being decentralised, Payera will not have access to any user accounts.
What is Shopera?
Shopera is the online store component of the Payera ecosystem. Here, retail and individual merchants alike can list their goods, whether it is new or used. Depending on how much an item costs, a merchant will pay between $0.05-$0.50. As with eBay, the Shopera platform is easy on the small fish: if you sell less than ten items every month, you do not pay the seller’s fee. Buyers can use the platform for free, regardless of how much they purchase.
What is Cardera?
Cardera is the cryptocurrency payment cards that will come with a Payera account. I can be used for online transactions, as well as in regular ATMs to withdraw funds. Payera will issue the Cardera payment card for a flat rate of $20.
Key features of Payera
The design of the Payera platform is very intuitive and easy to use, and comes complete with all the features you would expect from a cryptocurrency platform. As it makes used of Ethereum’s network, it is a completely decentralised platform that secures all use data. The transactions themselves are faster than current methods of transferring money, and the tokens can be used in external online stores partnering with Payera. As a buyer, Shopera is free to use, and as a seller, it is a lot cheaper than similar platforms.