The development of Internet business involves the widespread use of financial transactions for all users. Currently, the economy of Internet payments does not meet the needs of companies and ordinary users. There are many problems for different regions: expensive exchanges of digital payment systems, many intermediaries, low speed, lack of necessary liquidity for business operations.
The future of Internet payments should be completely different from the traditional system. The new payment system should become such that all people could make any purchases without cash, anywhere, at any time and without any intermediary fees. There are many growing modern crypto assets that have their own blocking technology, but none of them can yet build such a payment method, the process has not yet come to the end with success. A promising project, Nexty, is ready to build a future payment system that can support a business of all sizes and areas, and overcome barriers to trade.
The Nexty project has three decisive factors:
- Fast instant transmission,
- Fee for low cost of translation,
- Monetary stabilization system.
The Nexty project is an open-source Ethereum blockchain system, plus a dual encryption confirmation system.
Enterprises and individuals have not found a really convenient method of payment. It can be noted that although information technologies are rapidly developing, the banking system is conservative and cumbersome, which complicates practical implementation. Particularly great difficulties exist in the sphere of international payments. The rate of such payments is very low: usually from one to three days.
The use of payment instruments, such as credit cards and online payment systems, faces great difficulties in the forms of transactions and the security of these systems.
Recently, the crypto industry has attracted much attention and can solve many economic problems, but so far this has not happened. Some crypto-currencies were able to reduce the time of international settlements to an almost instantaneous threshold, but could not cope with the problem of scalability. For example, the famous game CryptoCotics caused the hang of transactions in the network of the Etherium up to 2-3 days.
In addition, payment of fees for payments in Internet resources is relatively high, even higher than some traditional types: online credit cards, online payment systems.
On the Nexty platform, all customers can pay to sellers with traditional cards, through a simple method through applications such as Apple Pay, Google Tez and Samsung Pay.
Soon after the ICO is over, Nexty will build an active service network through a connection to the Nexty system. Among the clients, there will be many enterprises that will be able to use Nexty's own token system to raise capital, as the platform has many convenient financial functions.
Five important elements of the payment system of the future:
- Fast payment,
- Low commission for payment,
- Observance of confidentiality and safety,
- Easy to use,
- Low volatility of exchange rates.
Fintech is a term that has been repeatedly mentioned in the use of information technology and how to use them in the financial sector.
As Forbes noted in a recent article, Fintech continues to grow for three reasons:
- There is a strategic contradiction between new technologies and the financial sphere,
- Market realities encourage the rapid development of technology,
- Organizers in the market are powerful and resilient to change
However, for changes, a currency platform with fast transactions and low translation costs is required. This can be done with the universal Duo authentication system from the Nexty project.
Authentication system Duo cryptocurrency includes two types of crypto, working in parallel. The first one was called NTY, which is the main cryptocurrency for use in daily transactions.
The second one is called NTF, for the transaction confirmation system.
The transaction confirmation system is built on a peer-to-peer network with specific criteria.