RAPIDZ Ecosystem - to improve cryptocurrency payments
RPZX will be listed on BW on July, let’s first Explore what RAPIDZ Ecosystem is.
RAPIDZ is an international financial technology company, it provides a decentralized payment system which improves merchant profitability and customer convenience. Rapidz strives to make payments simple, fast, and hassle-free, while not compromising on security or efficiency. We call this the “RAPIDZ Ecosystem”.
Despite the frequent media coverage cryptocurrencies receive in particular when prices are high or the market is bleeding, they are not widely accepted as a means of payment yet. One of the major reasons is the volatility of cryptocurrencies (with the exception of stablecoins). Merchants, even if they want to accept cryptocurrencies are not willing to accept the risk of losing money just because they could not exchange crypto fast enough. Additionally, some cryptocurrencies have fairly long confirmation times which would either require customers to wait for 10 minutes or for merchants to accept the risk that payment might not go through.
One blockchain company looking to solve this dilemma is Rapidz. Rapidz is an international Fin-tech company on the mission to make cryptocurrency payments convenient, fast, safe and efficient. From their offices in Switzerland, Thailand and Taiwan the team is working on increasing their userbase to the ambitious goal of 50 Million. More importantly, Rapidz has partnered up with Major group in Thailand to build a blockchain payment ecosystem, which Major Group owns Macdonald, cineplexs and department stores.
Rapidz has built and secure and simple protection layer for all merchants who want to accept crypto but not lose due to volatility. In their merchant suite, Rapidz is offering 3 different services: the Rapidz PoS, the Rapidz SDK and the RapidzMall.
With the Rapidz PoS Merchants can start accepting crypto by simply downloading an app. The SDK offers anyone who needs a unique or customized solution access to leverage the Rapidz system and the RapidzMall is similar to an e-commerce platform where merchants can set up their own store. Benefits for merchants when using the Rapidz solution include lower transaction fees, risk protection as well as the opportunity to position themselves as leading in their industry.
On the user side, the RapidzPay app provides a wide range of functionality from allowing them to buy crypto with 5 payment methods to securing their crypto holdings. Integrated into the app is also a messenger that allows users to communicate securely with each other and to easily send cryptocurrencies without the need to exchange public addresses.
The whole Rapidz Ecosystem is powered by Rapidz’ native token: RPZX. The Rapidz token is built upon a unique combination of two algorithms: Proof of Interaction and Proof of Stake. While knowledgeable crypto-peers won’t have a problem of explaining proof of stake, proof of interaction is something new.
With proof of interaction, as the word suggests, Rapidz tokens are issued based on the quality of recorded interactions between customers and merchants. Furthermore, by combining a social system of reputation with real-time voting for delegates, Rapidz manages to minimize unfair practices and to promote efficient and transparent transactions.
Consumers can use the Rapidz token to pay in stores that accept Rapidz, they will get access to the Rapidez e-commerce store as well as to monthly promotions including discounts on selected restaurants and shops.
For merchants, the Rapidz token gives them access to data analytics from their Rapidz backend and also lets them pay for advertising space in the Rapidz platform. And since it’s a proof of stake system, merchants can additionally benefit from staking interest.
The team behind Rapidz is constantly working on improving the platform while providing added benefits to users. They’ve already captured a significant market share in Taiwan and are looking to grow further.
