Why Is AMEPAY Using Blockchain?
Powering AMEPAY is a transparent and decentralized blockchain infrastructure that also doubles up as a reliable database to store and share transaction records.
AMEPAY uses the Ethereum blockchain as well as the ERC-20 token protocol for the following core functions:
Transaction Database: all payment records will be stored in a secure, encrypted, and immutable format;
Funds Transfer: users can settle transactions using the AME token;
Cross-border Transactions: users can transfer funds without incurring high costs;
Loyalty Program: users obtain AME tokens as rewards with usage.
All of the above functions will be managed by smart contracts, which are programmable, self-executing protocols. This move will help automate operations on the platform and enhance overall productivity.
So, the blockchain technology will help meet a variety of data requirements and store them in a decentralized, transparent format.