Topic: [ANN] HAZZA Global Unified Payment Network - Featured on CNBC, Bloomberg - page 16. (Read 16570 times)

Hello!
Interested in ..
I'll figure it out later and make a decision.
Good luck to the team!

Thanks Northa for the heads up, we appreciate it

HAZZA Network, check please pm. Not sure, but maybe this will be useful for you.

By the way thanks for your time. I find it very interesting.  

This is a crude analogy but I think it can get the point across.

The current payments ecosystem is complex and siloed. In a way this is similar to the infrastructure of the internet in the current state. People accessing centralized, siloed servers.

The payments ecosystem, just like the internet, should not be structured that way. Ethereum is changing this with the ethereum virtual machine, together with basic components such as swarm or whisper, that the participants can use. This is similar to the last stage of the migration process in HAZZA. We migrate the omni channel core transaction engine so people (merchants, consumers, payment service providers, etc) can access in a decentralized manner, a sort of 'component' of the basic decentralized internet infrastructure, like Ethereum swarm.

But what use is any of this if you don't have a way to access the internet? What if it takes you 1 or 2 years to obtain an ISP?
This is the biggest problem in payments - it takes forever to integrate.

That is what the initial phase of the HAZZA project is aimed at. We move the registration and network access services to blockchain, so it can interact with a payments solution that it already existing and running. Once this is in place, it will drive financial inclusion. After this, we can evaluate how to move the core engine, which blockchain tech is most capable, etc.

Also, this is something interesting I read, The creator of Ethereum thinks blockchain tech could steal business from Visa in a 'couple of years'

 

Thanks for response. Very detailed explanation. Good to know that HAZZA team think about scaling. Its very important. I am hopeful that payment network will be fully based on blockchain, even though I know it's very hard to implement. NEM or EOS? Both of them is really cool projects and backed by strong teams. Nevertheless, EOS in early stage of development unlike NEM, which has already a working solution and will updated in near future. Honestly, I'm leaning towards NEM. But of course community will support any decision of the HAZZA team.

Hi Northa,

Excellent question.

Remember that the technology behind HAZZA is a migration of Octo3's existing payments solution (which is centralized and is processing transactions today) to blockchain. The transition is in stages, so initially what will be migrated to will be the registration and network access services, which does not require a high tps. This is essentially the 'opening' up of the payment system. At this stage, the core transaction engine will still be centralized. It would be accurate to say that this phase adopts a hybrid model.

The ultimate envisioned goal is to have the entire solution on to blockchain, in a decentralized manner. The biggest strain in terms of transaction per second comes from the core transaction engine. At this stage we will be ready to do an evaluation of the appropriate technology. What is interesting is that we are not limited to Ethereum blockchain for this part of the migration. We have a couple choice categories:

- Use of off-chain scaling solutions (RAIDEN, Lightning)
- Use of blockchains that can handle high TPS (for example NEM, EOS)
- Creation of our own high tps blockchain

a nice thread annoucements, I will mark this thread, and keep searching for the latest info from your coins, gud luck dev ! 

Hi HAZZA Network
Everyone knows that blockchain scalability is a major problem. Hazza provide a payment system. Well, Is there a solution to the scaling problem?

We have a twitter bounty available on our bounty ANN: https://bitcointalksearch.org/topic/bounty-hazza-applications-closed-feature-cnbc-bloomberg-2171610

http://www.visa.com/splisting/viewSPDetail.do?bid=10076249&coName=Octo3%20Limited&HeadCountryList=HONG%20KONG,%20CHINA&reset=yes&pageInfo=1;30;ASC;coName

We have a minimum viable amount set internally for the project to be successful. If we do not reach this amount, we will issue refunds.

followed the project ,reserved the Chinese translation,thanks

Hi, HAZZA Network.
No hard cap it is ok, understandable. And method of generation total token supply also understanding. But the lack of minimum cap confused. Just for example if you are collect only 100000$ is it enough for a project?

I am interested to follow the bounty twitter of this project and what bounty of project is already running because I will be enrolling myself good luck

About cap

There is no cap for this token sale.

To answer your question about github:

We are proposing a migration of existing technology to blockchain. Octo3's technology is proprietary technology, as stated in the whitepaper (page 3):

"The platform is proposed to be based on Octo3‘s existing Global Payment System, a scalable cloud-based Omni-channel proprietary technology"

About the migration:

"To build HAZZA, Octo3 proposes to transfer its proprietary IP of the Global Payment System to the Foundation, open access to the Global Payment System and migrate it to blockchain technology through a 3-phase development."

Therefore, we may expect a github account around the 3rd phase of the development stage.

The answer is here: WP page 27 Section 9.1.1 subsection 3
"The total HAZZA Token supply would be fixed upon the close of the Public
Sale period. The total number of HAZZA Tokens sold during the Pre-sale
and Public Sale will represent 51% of all HAZZA Tokens to be generated,
the generation of which will be governed by a smart contract;"

Same here. Was wondering the same thing... Also is there a github account?

Please answer our questions.

Thank you.