Global I’Net Payment Solutions or GIP is a payment solution based on the ERC20 token standard of the Ethereum Blockchain. While there are many online digital payment solutions on the internet, GIP stands out from the crowd owing in being the one of its kind true decentralized payment method that offers anonymity to its users with no limit on the number of transactions. In this blog, we share some key features that separate the GIP Payment Solution from any other existing Digital Payment System.
Security: Modern day Digital Payment Systems are centralized by nature. This means that they are prone to hackers and cybertheft. However, GIP offers a secure payment solution based on the ethereum Smart Contracts. The Smart Contracts are encrypted and cannot be edited. The transaction terms and agreements are predefined and transactions are possible only at the trigger of coded conditions. This makes the GIP Payment platform a very robust payment solution.
Transparency: All transactions on the GIP platform are part of a decentralized distributed append only ledger. This means that each participant or GIP token owner will have a copy of the public ledger containing all transaction history. And these transactions are immutable by nature. Hence, an update to the GIP ledger is reflected on all ledger copies with the participants or GIP token owners.
Interoperability: The ERC20 standard makes GIP token intrinsic part of the Ethereum Ecosystem. This means that GIP Token will be tradable across all exchanges as well as with other utility ERC20 Standard tokens. Most importantly one can also seamlessly avail other services and goods on offer by other tokens on the Ethereum environment. What this means is that GIP token owners will be part of the growing marketplace of goods and services on offer in the Ethereum Network. This offers two main benefits:
All services and goods will be cheaper when compared to the ordinary digital platforms as there is no middlemen service charge on these goods and services. GIP Token can be a major trading medium for other ERC20 standard tokens.
Liquidity: Liquidity remains a major concern for Bitcoin, the world’s first true digital currency. However, this is not the case on the Ethereum environment. The Ethereum environment has witnessed a huge influx of ERC20 standard tokens over the last couple of months. A very important characteristic of any crypto token/coin/currency is that they are limited in supply. This is an advantage contrary to the skeptics. This pegs them to an increasing value curve on a YOY basis. Limited number promises that the value of the GIP Token will increase with time. Also, the inter-trading with other ERC20 standard coins makes liquidity a minimal concern as far as the Ethereum Marketplace is concerned.
In conclusion, we can say that more than the decentralized nature it is the smart contract and the ERC20 standard specs that make GIP Token the true digital payment solution. The ICO sale for the GIP Token is live now. For more on GIP token Distribution and Sale offers please read the GIP WhitePaper.