All Things GRAFT – The New Global Payment Network



hey guys welcome back to all things craft in today's video I'm going to explain why I believe craft has a potential becoming a global payment network that can truly revolutionize the way the world makes payments now in order to really understand what graft has such tremendous potential we first need to understand the main reason or purpose behind the creation of watching technology in other words to really understand graft what we first need to understand is why bitcoin was even created in the first place you see the current problem with our payment industry is that it's heavily dependent upon trusted third-party intermediaries in order for any two parties to transact electronically this is the case whether you're making a payment via a bank transfer a payment with a credit or debit card or a payment via a mobile app notice how banks and other financial institutions are always in the middle of every one of these transactions this is because in modern day society banks and financial institutions are entrusted to hold everyone's funds and in order for any two parties to transact electronically these financial institutions have to transfer these funds between each other and are therefore always a part of every transaction this however has various problems which many of us have become accustomed to like high cost and centralization which is one of the primary reasons for the creation of the Bitcoin project you see bitcoins original goal was to attempt to decentralized our payment industry by creating a solution that allowed any two parties to transact electronically without the needed use of a financial institution creators of the Bitcoin project proposed that this could be done to the creation of a new digital currency called Bitcoin that would eliminate the need for banks and allow anyone to transact without middlemen in other words bitcoins original intent was to be a new global digital currency that would replace fiat currencies allow anyone to transact directly and once and for all solve our payment industry's problem sounds simple enough however this approach comes with a few major problems the first is that it would require the entire world to start using Bitcoin as a currency which would mean radical changes to the global economy this would require the approval and cooperation of all governments something that I honestly do not foresee happening with in my lifetime another major problem is that Bitcoin does not actually work well as a currency despite having been in development for over a decade for Bitcoin to become usable as a currency it would need to solve many of its problems like price volatility and scalability issues slow transaction speeds unpredictable and oftentimes high fees and lack of transactional privacy on top of that Bitcoin slow development and its introduction of blockchain technology has also given rise to yet another problem that of having various alternative digital currencies which completely defeats the purpose of having a single global currency seem bit complex with so many problems and very unlikely to fulfill its original goal at least within many of our lifetimes many Bitcoin proponents have now moved on to describe Bitcoin as a sort of a digital decentralized version of gold understanding that it resembles something more like gold than an actual currency which is a perfectly reasonable use case for blockchain technology having a solution that would aim to provide a better store of value a decentralized version of gold would have a tremendous impact on our society and would obviously be extremely valuable one that many believe could potentially reach Gold's current value of around a trillion dollars this however pales in comparison to a solution that would have aimed at decentralizing our payment industry in industry that by some estimates is worth over a hundred and ten trillion dollars bitcoins original goal of creating a single global digital currency to decentralized our payment industry was a very ambitious one one that many believed could still potentially work but perhaps not for a very very long time but what if we didn't have to wait that long to solve our payment industry's problem what if we could attempt to decentralize our payment industry not by creating a single global digital currency but by creating a global payment network one that would be open to anyone would eliminate the need for intermediaries and allow anyone to transact using not just one but any digital currency what if we can build a payment network that wouldn't require radical changes to the global economy would solve all the bitcoins problems and make any digital currency actually usable as a currency well this is exactly what the graph payment network is intending to do you see graphed is a global and universal fully decentralized payment process network that allows any two parties to transact electronically without middlemen using any digital asset they prefer this means that on the graph network users will be able to transact with decentralized digital currencies like Bitcoin or aetherium stable coins like tether or UST coin or even central bank issuing control digital fiat currencies also known as CB DC's the graph payment network sets itself apart from other digital currency payment systems and networks by being the first truly borderless and decentralized multi digital currency payment network this allows the graph of a network to be freely and openly used by anyone anywhere and without restrictions including individuals for peer-to-peer payments by merchants for the acceptance of digital currencies through existing hardware systems by businesses large and small to transact with existing business workflows and by governments who wish to transact with absolute security and privacy the graph payment network is a privacy centric payment network that aims to protect and ensure the complete privacy of its users while at the same time allow them to comply with local laws and regulations such as kyc and AML through voluntary identity verification and disclosure right through the network when required by law like many other blotching projects the gravamen network is open source does not intend to be controlled by any single group company or organization in aims to develop into a fully distributed autonomous organization or Dao another very unique thing about graft is that unlike traditional payment networks which are comprised of mostly banks and financial institutions the grab payment network welcomes anyone to become a part of the network and earn from helping to process transactions the gravamen network is comprised of various network participants including consumers and merchants merchant service providers miners full and proxy super node owners exchange brokers app developers and many more all of which will come together to provide decentralized payment services to anyone as you can see the graph payment network is a revolutionary new kind of payment network that aims to fulfill bitcoins original goal of decentralizing our payment industry by allowing anyone to transact with any digital asset in a manner that is truly decentralized and with absolute and uncommon privacy to learn more about the grab payment network feel free to visit graphs website I graph that Network I hope this video helped you to better understand why I believe graft has a potential of becoming a cool mobile payment network that can truly revolutionize the way the world makes payments if you liked this video please hit that like button share it and don't forget to subscribe for future videos until next time though this is all things grad signing off

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