GRAFT Launches a ColdPay SuperCard Indiegogo Campaign
Earlier today GRAFT launched an IndieGogo crowdfunding campaign on Indiegogo.
What makes that card very interesting are three things:
The form factor of the credit card (it’s a smart card with a battery, 256×256 e-ink display, and electronically controlled buttons). Having a credit card size cold wallet is fantastic as it can fit into a wallet.
The fact that it runs on a CCEAL5+ compliant card chip, which is the level of security compliance required by credit cards from the EMV smartcard chips. This is as robust as it can get today as far as keeping data in the secure element.
That it can double as a payment card that can work with the payment terminals over NFC or QR code scanner. This makes it compatible with GRAFT’s own real-time alternative payment network that integrates with point of sale terminals, but also opens it up to other interesting applications at the point of sale.
The card will support the following cryptocurrencies initially with more currencies to follow:
GRAFT says the card battery can last for 250 uses and is rechargeable (the unit comes with a USB doc that acts as charger and communication channel for the initial setup)
The card also has bluetooth support which GRAFT is using to pair with its mobile wallet for configuration purposes.
There’s a nice video on the Indiegogo campaign page showing the card in operation. Having interactivity and a usable screen capable of displaying confirmation messages and QR codes, is very helpful.
ColdPay can be a boon to the cold wallet space if GRAFT delivers on its promises as crypto owners are looking for safer and slicker solutions for cold wallets.
GRAFT Blockchain is an open source project that’s built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.
When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, built-in loyalty programs, and connected extra services.
GRAFT payment processing network functions similarly to a credit card processing network with off-chain authorizations and in-network atomic swap based interchanges. The network is completely decentralized, able to work cross borders and adapting to local regulatory environment.
In addition to decentralization, GRAFT solves four biggest problems that exist in cryptocurrency at a point-of-sale today – privacy, speed, fees, and integration.