Pay Protocol, along with many promising projects in the field, has joined blockchain leaders and fans at 2018 Blockchain Partners Summit (BPS). South Korea’s payment gateway Danal, that provides a convenient mobile payment solution around the world, has recently established Pay Protocol as a subsidiary. Pay Protocol is an end-to-end platform that addresses the structural problems of existing payment systems and directly connects buyers and sellers. As many cryptocurrency projects face difficulty with problems such as regional differences, volatility, and merchants lacking technical resources, Pay Protocol aims to provide a remedy using their innovative infrastructure and patented technology, all gathered by their parent company for the past 20 years.
Pay Protocol’s platform offers offline and online integration systems, solutions to volatility, and merchant management tools. The project is planning to first launch a mobile POS application which is built on existing infrastructure developed by Danal. The application will allow retail stores to accept cryptocurrency. While most cryptocurrency projects tend to focus on stabilizing the digital money’s volatility, Pay Protocol’s objective is to improve user experience beforehand. The project is building an excellent merchant management system that provides easy-to-use marketing tools at a very low cost to help small merchants that lack resources.
BPS, the world’s largest blockchain summit held in Seoul from July 21 to 22, marked Pay Protocol’s first appearance to a large public audience. The summit was co-hosted by BABI Fnance, a Chinese media group specializing in blockchain, cryptocurrency, and fintech, and Chaineer, a blockchain accelerator and incubator. Speakers including CEO Changpeng Zhao of Binance, one of the world’s largest cryptocurrency exchanges, Roger Ver of Bitcoin.com, NEO’s founder and CEO Da Hongfei, and Patrick Dai of Qtum, have shared their thoughts and ideas with crypto enthusiasts.
This year’s summit was held under the theme of “A New Paradigm, A New Future” to present current status of the crypto market and its future direction, improved ICO strategy, business opportunities, etc. Speakers and panel members joined the stage to share their experiences and insights. In his speech “Blockchain and Smart Economy,” Da Hongfei criticized the government’s regulation and stance on cryptocurrency, emphasizing that no blockchain is without cryptocurrency. Changpeng Zhao also pointed out the same notion, that cryptocurrency underlies the establishment of blockchain. In addition, Roger Ver supported the idea of applying blockchain technology to achieve greater economic freedom. BPS hosted 72 speakers, 1,500 participants, and 33 companies and held a total of 53 sessions. It has successfully come to an end with the participation of prominent blockchain companies and venture capital firms from across the globe.
In particular, Pay Protocol has shared collaboration opportunities and technical insights with various global blockchain experts and enthusiasts. Through international conferences and meetups such as the Huobi Carnival, the company is vigorously bringing their project to the global market. The team is actively meeting with other companies of the industry and preparing for strategic alliances.
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