How Plaza is paving the way for a more decentralized global economy.
They say absence makes the heart grow stronger. The opposite is true where blockchain is concerned. For the world to adapt to the most revolutionary technology since the internet, it needs to have more and more of it. Billions of transactions happen daily but only a tiny percentage of that are conducted using cryptocurrency. I understand why.
Before i had any interest in Blockchain, my buddies told me about it and the first thing i thought was 'What the hoot is that' seriously i couldn't understand the concept. It was only after hundreds of hours of research did i get. I was passionate about it, everyone else won't be. See ordinary people don't want to use a product that they will find hard, they will shun it in fact.
Unfortunately, blockchain is quite hard, so to make people accept it into their lives is even harder. It needs to change this. Form how it handles its processes, to how it manages its data, to the learning curve involved and to the platform's interface. Plaza is the perfect example of a company that's doing it right.
That's because when Plaza was founded in Singapore, they weren't aiming to be a company that was just focused on serving the technology community. It wants to serve the entire mainstream market, and its entire culture is built around this simple fact.
<br
For example, you can see it in their PlazaMarket, which is a blockchain based version of google shopping. A platform that allows users to search and discover different products and services from every kind of seller all over the world. One of the biggest differences with it and google shopping is its unbiased nature. Google shopping tends to bias its results in favour of products it feels its users need to see fast, for instance sponsored ads are given more weight as compared to other products.
PlazaMarket's AI-assisted metasearch engine will do the opposite and because the PL$ and PLAZA will reduce the transaction costs related to each sale, the sellers will be able to pass the lower prices to the consumers. Not to mention that this model also facilitate for better adoption of blockchain technologies because it solves the chicken and egg problem in that if there are no sellers offering products on the platform because they don't see a valid reason not to sell on Google or Amazon there will be no buyers, just the same as if there were no buyers regularly and actively looking for value deals there would be no sellers.
One other way Plaza will be paving the way for global blockchain penetration is through its PlazaCard, which just as the name says is the company's official debit card. A card that allows anyone to make payments at any merchant. The best part is thanks to the company's very generous incentives program you have a cashback reward for every purchase you make using the PlazaCard, meaning if you buy an item worth $100 you will get and equivalent value of PL$ or Plaza debited to your PlazaWallet. Did i mention the PlazaCard can withdraw local currency at ATMs? Sure, this feature will only work at affiliated ATMs but it's still an amazing feature to have in your pocket.
The PlazaCard is facilitated by the PlazaWallet which is a secure, peer to peer crypto wallet that utilizes private and public keys for encryption and is capable of handling multi-currency transactions at fast times (about 15,000 TPS to be exact.)
Here's how the Plaza tokens will be distributed.
65% of the tokens will be set aside for the public sale contributors, 15% of the tokens will be set aside for the reserve fund, while 15% will be given to the team members monthly for two years. The remaining 5% of the tokens will be split between the bounty and incentive program and the advisory team. With each getting 1% and 4% respectively.
Plaza started development of the plaza platform in the second quarter of 2018 and is planning on launching it before years end. It also began issuing its PlazaCards.
2018 has been a busy year for Plaza, 2019 will be just as busy because the company is planning on expanding its geographical reach by branching into different markets. This will involve growing the platform and MerchantChain protocol to where it needs to be. Hey, i couldn't cover everything on this post but i have linked some amazing resources that can help you much further than i could. Check them out, I’d love to hear your thoughts thereafter.
Thank you for reading.
This Blog by:
Rhinoboy11
Steemit
Medium
Facebook
BitcoinTalk
Bitcoin Username: @Sammygye
If you like my blogs and would like to see others like this one. Please follow me on steemit and my other channels.
Don't forget to leave me a like, comment, clap, upvote and follow. Any or all of this gestures will be highly appreciated.
