New payment platform on Stellar Blockchain ready for mass adaptation

Home News New payment platform on Stellar Blockchain ready for mass adaptation

Of
Marcel Knobloch –
29.09.2018

There are already several payment service providers that rely on the technology of Stellar lumen, fast and cheap transactions. After a successful test run of Stellar Payband, the project is ready to be on a big stage.

On the Chicago Food Truck Festival Stellar Payband tested their new contactless wristband payment technology, according to the company that stands behind it, a great success.

Several guests were given an NFC-bracelet (Near Field Communication), for cooperation with a Pont-of-Sale (POS)- trade control system and used developed. The bracelet was connected directly with a Wallet of Stellar lumen and the POS Software with the Wallet is a certified dealer.

So that part can pay the participating customers of the festival, your sausage or the beer had to wear just your bracelet in the vicinity of the POS. In this case, the amount was, unless the Wallet held a sufficient coverage, simply and quickly to the trader paid and the invoice was paid within seconds.

The company explains that the bracelets are easy to use and mobile phones are clearly superior to (freely translated):

The technology was originally developed for Festivals, fairs, conferences and Events where the bracelet technology is due to the user friendliness of the mobile phones is far superior. Phones don’t die … bracelets. Cashless Festivals are the new Trend. Why not use the fastest and cheapest method to use to send money?

The development of the bracelet was launched last year and was getstellt in July 2018. After the successful test run, the team of developers plans, the hardware and Software in a few weeks for the Public release.

Even if this idea is not new, shows the innovativeness of the company, the crypto-currencies are on the rise and more and more in our everyday life. We are excited to see what other projects will bring to the crypto universe.

The rate of Stellar lumen has fallen, in line with the current Trends of the last 24 hours, to 3.91 percent at a price of 0.21 Euro.