Blockchain technology has built a strong history for itself by disrupting various industries. And yet, cryptocurrency adoption continues to lag. Bytus is here to address the issue, with a global digital payment platform that makes cryptocurrency payments on online and brick-and-mortar shops a lot easier.
The apprehensions about accepting cryptocurrency payments due to associated price volatility risks is quite well-known, and it is made evident by the presence of very few retailers who are open to accepting payments for goods and services in popular cryptocurrencies. However, Bytus offers a fiat settlement mechanism that can be used by merchants to convert the payments received in cryptocurrencies to the fiat of choice, thereby overcoming the price volatility.
The global digital payments platform works flawlessly on smartphones and contactless payment systems that are already in use across the globe. Built over a private blockchain network and powered by the platform’s native BYTS ERC20 utility tokens, Bytus enables over a million stores to receive crypto-payments for their goods and services.
The Bytus private blockchain is based on Graphene chain, which has already witnessed successful implementation in various projects including Bitshares, Steemit, and EOS. The accompanying Bytus Mobile Multi Crypto Wallet is designed to handle multiple cryptocurrencies and efficient crypto-to-fiat conversion without commissions.
In addition to the multi-crypto mobile wallet, the Bytus ecosystem also includes insurance protection, secure storage, exchange service and virtual credit card offering.
Bytus is the creation of a strong team led by its founder, Altug Tatlisu who is an experienced software developer with over 23 years of experience. Together with experienced staff, Tatlisu is propelling his idea of developing a platform that can solve various issues plaguing the digital payments and cryptocurrency industries. With a platform that can support micro-transactions, multiple cryptocurrencies, and zero-commission immediate crypto-fiat conversions, Bytus is poised to accelerate cryptocurrency adoption by providing a cheaper and much faster payments solution than the conventional fiat-based payment options that are available in today’s market.
Other notable people driving the innovative platform include Serdar Nurdogan, heading financial operations. He has experience in several fields which come in hand at managing the finances of the platform. Imran Qureshi, with ten years of experience in digital market spearheads the company’s digital marketing department with an additional focus on SEO and other aspects of the game. Ajay Hada, as the lead crypto and smart contracts developer, holds the responsibility of building the platform and implementing an endless list of features over time to make Bytus a complete global digital payments solution. Harry Masly, as a general project manager and blockchain engineer. He managed to confidently make space in our lives in a short span of time.
Bytus is embarking on an Initial Token Offering (ITO) with 50 million of the total 66 million BYTS tokens on sale. The entire token sale campaign is broken down to 3 parts, with exciting bonus offering: The Private ITO with 20% bonus, Pre-ITO with 15% bonus and the main ITO sale where participants can purchase BYTS at a 10% discount. The Private ITO is set to go live on November 15, 2018, followed by Pre-ITO on May 5, 2019 and ITO sale from September 1, 2019. After the conclusion of sale, the value of each BYTS token will be set at $0.67, made available for purchase on CryptoBank, post ITO.
The functions of BYTS tokens include
- Mining by wallet (POS 2.0)
- As an intermediate token for conversion between various currencies
- Sending and receiving funds
- Payment for goods and services through contactless, QR-code.
Bytus has a mission to create a convenient, safe ecosystem so that the user can conveniently pay both through payment terminals and via the internet using a QR code with instant conversion of cryptocurrency into fiat. The key tool of the system, BYTS also services as an indicator of the channel size, with more tokens in possession means a wider payment channel allowing transactions on the network within allocated time interval.
Bytus promotes a policy of full openness, maximum cooperation, speed and the possibility of increasing the number of currencies, all in one application. It will help current retail chains easily payment of crypto-currencies who can attract new customers want to pay and receive new markets.
More information about Bytus platform and BYTS token sale is available on the platform’s official website – https://bytus.io