Palm Pay | An All-Inclusive Cryptocurrency Point Of Sale System | Interview at Anarchapulco
Carmen Carangi interviews a representative of the Crypto POS platform Palm Pay at Anacrchapulco 2018. The Application is referred to as the "first chain agnostic point of sale system" - the software doesn't care what crypto the customer wants to pay with!
http://palmpay.io/
Palm Pay is built on Bitshares blockchain, which also happens to be the most active decentralized Crypto Exchange as well (Designed by Dan Larimer) which is has an incredible three second block time!
All Palm Pay transactions are first converted into a Bitshares "Smart Coins" and then redistributed back to the merchant. The beauty of this is that these "smart coins" are what are known as "market pegged assets". What that means is that each smart coin is tied to a real world currency like the Euro or the Dollar, making them a more stable alternative to what is a currently a volatile crypto market. And the merchant gets to choose which "Market Pegged Smart Coin" he wants to be paid in!
This solves the biggest problem we have faced so far in Merchant adoption of crypto! Their biggest fear is that they are being ripped off by selling you some Vegan Ice Cream for $10 worth of Lisk, or Steem and then the market dips and they lose money on the transactions!
To solve this problem, Palm Pay has created a wonderfully ingenious POS Application capable of accepting any Cryptocurrency the customer wishes to pay with. The App then immediately converts it into a stable "Market Pegged Asset" which is what ends up in the Merchant's wallet!! The merchant can then choose hold it or turn it into any Crypto of their choosing right on the Bitshares exchange. This allows them to feel happy, safe and secure about incorporating and accepting Cryptocurrencies into their business models.
This is one HUMONGOUS step for Mass Adoption and most importantly, Merchant adoption. Millions of people already have businesses that process billions of transactions a day, and all that any of them would have to do to bring the entire Crypto space into their business is download one FREE App.
Absolutely brilliant, and the best part is Palm Pay made the Key decision to build on the fastest decentralized blockchain, which will be very practical for high level transaction volumes.
BUT WAIT THERE'S MORE!!!
If that wasn't enough Palm Pay also solved another HUGE ISSUE that the crypto world faces in today our current worldwide financial/governmental slavery system.
Taxation
While we here at The State of Anarchy understand that Taxation is Theft, and the whole point of Bitcoin and The Crypto's is to subvert the old paradigm and build a glorious and prosperous future for humanity, most average people do not. More importantly, the only way to overcome the old system with Crypto's is through MASS ADOPTION!
And the only way to make that happen is to work within the currently existing power structures so people who live in the fear laced world of the Brainwashed Zombies can comply with their Malevolent Overlords on the way to greater freedom.
Palm Pay's Solution to State Theft (Taxation) is an initiative called Blockchain My City.
In short, cities who sign an agreement with Palm Pay will absolve anyone under their jurisdiction from anything Tax related on their Palm Pay transactions. Yes, you heard that right. If 100% of your income is composed of Palm Pay Crypto Transactions and you live in an on-boarded city (like Oakland, CA for example), your City Tax bill is taken care of 100% by Palm Pay on your behalf, through the use of micro-transaction fee's billed to the customer and paid to the state!
That means no filing City Tax returns, and more importantly, no phone calls from the Local Taxman!
Palm Pay is a great example of what happens when you BUILDL instead of HODL!
Absolutely brilliant, TSOA could not back this company any harder! Go Download the Palm Pay app if you're a merchant, and go check out their website at palmpay.io/
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Awesome interview, I met Ken right there at that booth! :) Go BitShares!
Bitshares FTW!
You have a minor grammatical mistake in the following sentence:
It should be you're a instead of your a.THANKS! lol
the bit about taxes is huge!
I know right? Unbelievable we're already at this level with crypto business practicality!