What is ALBOS?
Cryptocurrencies are mainly traded on the market, and while they are increasingly traded for investment purposes, they have not spread or been distributed as a method for payments or
money transfers. In order for cryptocurrencies to become part of the global infrastructure used in today’s societies, more actual demand (i.e. more of a function as a currency through
distribution) needs to be created by making cryptocurrencies a tool for payments and money transfers that improves people’s lives. If cryptocurrencies become widely used for payments
and money transfers on a daily basis, their value will grow further. We have the answer for global use and distribution of cryptocurrencies as a part of the world’s infrastructure.
The problems caused by cryptocurrency settlement are immediacy, transfer fee, and change in value.
These issues are major barriers to the distribution of cryptocurrencies (particularly Bitcoin, the most widespread and widely distributed currency) and their spread as a payment method.
The issue of immediacy is a particularly fatal obstacle to the use of cryptocurrencies as a payment method. Almost no stores will accept a payment method in which the consumer must
wait a long time for the payment to be completed. One approach to the immediacy issue is to complete the payment at the time the transfer is made, without waiting for block chain
approval. However, this approach means that the risk of transfer errors falls on the service operator, store or consumer. This cannot be considered an optimal solution.
ALBOS payment service solves this issue with a hybrid system that combines a truly discrete and decentralized system on a public block chain with and off-chain system, using the merits of
global services and cryptoeconomy as a whole to build a cutting-edge payment platform that anyone can use. ALBOS aims to be a global ecosystem in the realm of payments by