PlasmaPay Review – The finance of the future, today

June 6, 2019 | by Mike Albert,

As crypto is preparing for a grand entrance as a legitimate fiat alternative, PlasmaPay is set to take a fair share of the market. They’re behind two intertwined products that great promise for the company as well as progress in the world of finance as we know it. On one side, there’s a web wallet that, upon a closer look, seems more like a bank account. On the other, they have a specialized, purposeful token.

The web wallet, or better yet, wallets, bridge the gap between classic currency and crypto with the option to link your credit card, apply for one from PlasmaPay or even get a virtual one in the near future. Currently, the wallet can handle Bitcoin, Ethereum, Dash, and Ripple. PlasmaPay complies with the PCI DSS information security standard and, as an actual credit card provider are more than capable to handle your details. 

Their company is essentially a next-gen fin-tech provider that takes merchants into account and has started to actively recruit them. Instead of brushing this off as strictly meant for big-business, casual users who are into E-Commerce really need to take a closer look at PlasmaPay. It could become the way they handle their finances, especially as more merchants hop on it.

The Plasma token (PBK) first comes into play by lowering transaction fees made through the wallet by 50%, eventually bringing them down to zero, zilch... nada. If you end up with an overhead of PBK, you can keep them and earn passive income, which comes by the design of their consensus protocol. PlasmaPay is linked, to Bitcoin, Ethereum, Dash and EOS to allow for atomic swaps with those crypto assets and reduce transaction costs.

PlasmaPay’s DLT solution introduces decentralized finance, coupled with cutting-edge smart contracts and dapps support. It solves scalability by optimizing data storage and throughput for faster data transfers.  Operating costs of producer nodes maintain a reasonable price while keeping transaction costs at a minimum. 

The infrastructure itself is free, where PlasmaPay envisages its blockchain for financial apps and game development. Their tokenomics is constructed by an algorithmic link to all of the system's assets, securing abysmal volatility so developers can focus on what they do best. PlasmaPay’s blockchain solution and the applications built on it strive towards banking the unbanked, improving financial services and making them available worldwide.

To make PlasmaPay the most efficient payment service for individuals, merchants, and their clients, PlasmaPay has 35 fiat-backed stable coins, over 10 tokenized commodities and more than a 100 tokenized assets, in the form of stocks and indexes. The hybrid, high bred blockchain is thus strengthened to be even more reliable for commercial use than the crypto it supports, which act as an anonymous top-up option.

For those who’d like their privacy kept a secret, PlasmaPay doesn’t ask for anything but your e-mail. However, it’s built both for the people and companies, so your profile can contain in-depth information about your business to streamline payments and allow for full transparency. On top of that, there’s even an option to create and send out invoices.

PlasmaPay have made quite an effort to make their service available across the Euro-Asian region and beyond, with their web App translated to their target markets.  They’re also pushing for a much-needed remittance solution, or instant money transfer, seizing the opportunity of an outdated, costly model we’re still using. There’s a glaring financial and crypto expertise, a pragmatic approach, as well as a lot of work put in to carve out the core features of the platform.

Needless to say, security is one feature that should come by default and PlasmaPay are among a few certified by a blockchain cyber sec company. The focus on launching their platform polished to perfection and keeping the key features as a priority are the main reasons are a testimony they mean business, but what they mean to business will have users coming back for more.