Massification of cryptocurrency payments has been a tough job to crack for most cryptocurrencies out there; while some customers are eager to experiment with this new kind of payment solutions, there is always the hard wall of knowledge to sortie for the newcomers. That is why normal cryptocurrencies and their systems can’t be the magic solution for merchants and customers that seek to use cryptocurrency as a means of payment. ARAW token wants to be the bridge between users and cryptocurrency.
That is why this startup has devised an intermediary system that combines the trust of normal card payments with the innovation of cryptocurrencies. ARAW token is a decentralized full payment system that lets customers and merchants pay and accept payments in cryptocurrencies without bothering about the technical part of the blockchain. Based on the ethereum platform, it brings to the table a series of improvements that make it an interesting choice for boosting cryptocurrency adoption.
The ARAW token will be the base of all the system, and it will be exchangeable by any popular cryptocurrency that is present now in the market, like ethereum and bitcoin. This token will be present on the cryptocurrency wallet and cards of the customers that want to make a purchase online via the Internet, or even instore.
For making payments online, the ecosystem offers a series of e-commerce plugins to accept normal cryptocurrencies as payment and collect them using the platform. For in-store payments, the users can take advantage of a card that lets them use the cryptocurrency stored in their wallets as fiat money, making possible to purchase goods and services even if the merchant does not support cryptocurrency payments.
While this kind of solution is not unique now and there are a bunch of already existing solutions, this team seems solid enough and has some innovative things, like offering rewards to customers for making purchases in stores, and also allocating resources to grow merchant adoption in certain important establishments.
Talking about the ICO itself, they will be starting sales on September 10, and will only accept ethereum as payment for the investment, and KYC will be enforced for this operation.