Great project! I advise everyone to participate in it! Great project! good luck! and I enjoy watching the news! It looks a special project with a really promising potential. One of the most promising and successful projects to date! I advise everyone to join and to watch the development!
I don't agree with your conclusions. No other project has managed to create a reliable payment platform by combining Bank cards and cryptocurrency. Some projects worked for a period of time and then closed. Even Litecoin Pay has a backlog in the schedule. I wish this project success but would not feel naive optimism..
However, if you consider that all these crypto card companies have some delays there seems to be a general problem in the industry that is not so easy to overcome. I don't believe that all the teams are just bad and not able to deliver.
WIREX has a full working card that allows USD/GBP/EUR accounts to be tied to crypto accounts... there are other examples, a canadian token (can't remember the name) has a full working crypto card (they have an official agreement with mastercard that is shown publicly)...
there are a lot of projects announcing cards but they must provide the agreement with visa or mastercard and they just lack that...
Do all these cards also use the VISA and MasterCard networks or how does that actually work in the background?
ZANTEPAY pre-paid card scheduled to be released in late 2018, to become one of the fastest penetrating digital currency cards on the market. It will allow any BTC, LTC, ETH, ZNX crypto currency holder to spend their coins, online or otherwise, anywhere where traditional payment cards are accepted. This, paired with the digital wallet, will allow users to utilize their crypto currency in day-to-day life.
PAYMENT ARCHITECTURE
1. Bob swipes the card in the shop.
2. Card provider sends request to Zantepay backend;
3. Zantepay backend is connected with exchange through API to determine BTC market price;
4. Zantepay backend takes information from Bob ‘s wallet on his BTC balance and calculates how much Bob can spend with debit card;
5. Zantepay backend sends information to Card provider;
6. Card provider confirms transaction (in accordance with transaction limits);
7. Card provider confirms transaction;
8. Amount of BTC from Bob ‘s wallet will be deducted;