About

GRAFT is a platform for processing real-time authorizations and settlements of merchant payments and fund transfers that support a variety of payment and payout methods, including cryptocurrencies, cryptographic tokens, and traditional credit cards and bank transfers.

History

GRAFT is a decentralized payment platform that competes with traditional payment methods and aims to facilitate the adoption of cryptocurrencies with merchants and their customers. GRAFT allows payments in its native GRFT token as well as other supported crypto and fiat currencies in addition to supporting traditional credit/debit cards and bank transfers, promising lower transaction fees than traditional payment processes. To do so, merchants can use existing payment terminals if supported (active work with Verifone and Ingenico is ongoing) or use the GRAFT mobile Point of Sale terminal.

Drawing from established processes, GRAFT has various features that are deemed to be important for merchants to adopt cryptocurrencies. GRAFT payments are authorized in real time and the customer can choose the preferred payment currency and the merchant the preferred pay-out currency. As with established payment processes, the payer does not pay the transaction fees, except for altcoin transactions or P2P transfers that are settled on the respective network.

Additionally, GRAFT allows for offline transactions, provides free customer support and dispute resolution through the GRAFT foundation and offers the ability to offer merchant tokens for loyalty and reward programs or gift cards. Smart contracts will allow for the implementation of more complex B2B relationships.

To compete with networks like PayPal, GRAFT offers limited free transfers between authenticated user wallets.

A digital identify profile that is attached to a user’s GRAFT wallet will allow to share and verify a user’s identity attributes incrementally and with user permissions at the time of transaction with a counterparty.

The GRAFT core organization is engineering-focused and does not maintain administrative control over the network. The GRAFT network is decentralized and open to participants fulfilling various functions and implementing network services. GRAFT intends to develop towards a fully distributed autonomous organization.