During the BlockShow Asia 2019, Dr. Ciprian Pungila – who founded aBey Foundation – has reportedly rolled out aPay – a crypto users-focused, credit card-enabled tool for daily payments.
Specifically, aPay clients can deposit a sum of digital coins into the tool, which will make them accessible to 3 credit cards linked with UnionPay, Mastercard, and Visa. This will allow said clients to use cryptocurrencies as a means of payment for their everyday activities.
The tool – built upon the blockchain tech developed by the aBey Foundation – is expected to provide enhanced process speed, new architecture and high-performance computing, which consequently accelerate transactions facilitating process.
“aBey is designed and built to be among the fastest and most flexible open source chains in the world, providing a practical solution for common e-commerce use cases,” Punglia claimed.
Per Punglia, a number of major digital coins on the market are supported by the new payment system, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, EOS, Ripple, ZCash, and an aBey Foundation-designed native digital coin. Services providers are not required to accept cryptocurrencies, since as long as they take credit card as an option, the new aPay system will carry out crypto-to-fiat conversion process and give the money to merchants.
“The financial technology industry has been impacted by the development of blockchain technology, but there is still not much clarity on how it will change our lives. It is certain that there is no turning back, and therefore we must build applications and solutions to accept and develop this change.” Dr. Punglia further shared how the distributed ledger tech can affect the growth of the financial sector.