If cryptocurrency is to become mainstream, and we at the OPEN Platform believe it will, changes or additions will need to be made to current systems in order to help usher in its adoption in a seamless manner, to heal those growing pains. We take the roadblocks to consumer adoption very seriously, so naturally we asked the question: what’s missing for the would-be cryptocurrency consumer?
Aside from the obvious – you can’t yet use cryptocurrency in conventional applications or on most existing websites as a form of payment, something we are actively solving – the thing that struck us as much-needed are receipts. Where are they?
As it stands, it’s convoluted at best and impossible at worst to produce an actual receipt for a cryptocurrency transaction. Outside of using a service like ethscan or blokchchain.info to prove a transaction occurred between digital wallets (and even this isn’t a complete solve), it’s pretty hard for the average person to prove they sent payment to a specific person for a specific thing, and conversely pretty difficult to prove the opposite.
That’s why we’ve created the OPEN State – an immutable, irrefutable, permanent receipt that lives on the blockchain. It can handle any type of payment transaction you can imagine, from movie tickets to subscription services and more. And, since its backed by the blockchain, it’s a receipt you can’t lose or alter. Not only is this great for cryptocurrency adoption, it’s great for businesses and consumers at large.
For more information, check out our white paper!
Aside from the obvious – you can’t yet use cryptocurrency in conventional applications or on most existing websites as a form of payment, something we are actively solving – the thing that struck us as much-needed are receipts. Where are they?
As it stands, it’s convoluted at best and impossible at worst to produce an actual receipt for a cryptocurrency transaction. Outside of using a service like ethscan or blokchchain.info to prove a transaction occurred between digital wallets (and even this isn’t a complete solve), it’s pretty hard for the average person to prove they sent payment to a specific person for a specific thing, and conversely pretty difficult to prove the opposite.
That’s why we’ve created the OPEN State – an immutable, irrefutable, permanent receipt that lives on the blockchain. It can handle any type of payment transaction you can imagine, from movie tickets to subscription services and more. And, since its backed by the blockchain, it’s a receipt you can’t lose or alter. Not only is this great for cryptocurrency adoption, it’s great for businesses and consumers at large.
For more information, check out our white paper!
Very well explained. You surely have attracted my attention to this project with this short paragraph. If you are able to deliver somethng like this, that would really be a game changer.
