Alchemy Pay is a globally adaptable encrypted payment infrastructure that provides decentralized payment and derivative financial solutions for more than one million merchants and virtual currency ecological users around the world.
Consensus Laboratory focuses on technology platforms, infrastructure and projects with international capabilities related to investment in blockchain. As an institutional investor, he participated in the early investment of Alchemy Pay in 2019.
At present, Alchemy Pay's business involves 18 countries and regions in the market, with more than 2 million contracted and reserved merchants, more than 3,000 actual operating merchants, and nearly 100,000 global community supporters. It also cooperates with many well-known companies such as Shopify, ARCADIER, FPay, etc. Long-term payment cooperation.
After more than 50 years of development, the existing electronic payment network has been separated from the mechanism of industry associations to discuss and evolved into a centralized giant pattern. Various strict and cumbersome rules and industry access mechanisms, coupled with complex institutions and opaque implementation, have led to payment The innovation efficiency of the industry is low, the rates are complicated, the links are trivial and the risks are high.
At the same time, the rise of the cryptocurrency ecosystem and various industry application innovations inspired by blockchain technology have made blockchain-based cryptocurrencies have a considerable future: the compound annual growth rate of the market value of encrypted assets has reached 31%. If one-third of the market value penetrates into the circulation field, it has exceeded the 500 billion US dollars of the global electronic payment market in 2018.
Alchemy Pay is a globally adaptable encrypted payment infrastructure, and is the industry’s leading decentralized digital currency payment solution and technology provider in the Asia-Pacific region. It has developed Asia’s first cryptocurrency and legal currency hybrid payment method, and is committed to Millions of online and offline merchants provide fast, safe and convenient payment technology solutions for aggregated digital currency and legal currency.
Alchemy Pay is currently committed to launching its second-generation decentralized payment system (ADPS2.0), which integrates DeFi aggregation and professional Alchemy Trust system to open up a trusted authentication path between centralization and decentralization.
● Decentralization of payment currency
As a decentralized and open ecosystem, the Alchemy payment network accommodates all kinds of monetizable asset access: encrypted currency, points, electronic assets, legal currency, etc., and the clearing currency is not limited to a single currency, providing consumers and merchants More freedom of choice.
● Decentralized technology architecture
Alchemy's overall product architecture is divided into access layer, solution layer, product layer, core layer, and blockchain network layer. Each layer follows the principle of decentralization. At the same time, each layer is defined by the open and extensible Alchemy consensus protocol to ensure consistency on the basis of decentralization.
● Operational decentralization
Alchemy refers to the Service Level Agreement to classify daily operation tasks: using service smart contracts to automate merchants’ network access, reconciliation, and settlement, ensuring openness and transparency of the process.
Decentralized dispute resolution, decentralized custody, decentralized credit scoring, decentralized exchanges, decentralized automatic clearing houses and other mechanisms are adopted to "decentralize crowdsourcing" operational tasks to the ecosystem Partners to ensure operational quality and efficiency, and achieve low-cost expansion.
Commercialized large-scale application
In reality, businesses have many needs for electronic payments, but due to the limitations of existing payment methods, if these real needs and pain points cannot be met, cryptocurrency payments cannot be popularized on a large scale.
Alchemy uses a large number of smart contracts to automate the payment business flow. Designed basic payment functions and solutions to meet large-scale commercial applications: PULLPAY, PUSHPAY; combined payment, subscription payment, targeted payment; multiple types of account systems.
As a basic payment network, the sustainable evolution of the platform is essential. Alchemy adopts an open ecological model, allowing participants in the ecosystem to focus on the tasks they are best at, and through corresponding incentive mechanisms to ensure that the interests of all participants are maximized, innovation is driven by the market, and innovative technology companies are attracted to join the community Promote industry development.
Safe and trustworthy
There are various payment security incidents in both online and offline payments, including merchant fraud, malicious user attacks, phishing websites, and privacy leaks. How to create a safe payment environment is a high priority task for all payment networks.
The Alchemy ecosystem is credit-driven. Ecological measures include: merchant deposit, security fund, privacy protection, credit scoring, decentralized risk control and anti-fraud. In accordance with legal measures, it provides comprehensive localized compliance and anti-money laundering programs for different countries and regions.
Alchemy focuses on providing payment protocols and open source development platforms, so that payment institutions/channels can use blockchain payment technology to solve related problems and needs more quickly and at low cost.
A comprehensive comparison of Alchemy's multiple indicators is more applicable and competitive than old-brand similar products such as PundiX, BitPay, Flexa, and COTI. With the further expansion of the ecology and business, it may be comparable to Ripple and Crypto.com.
to sum up
Payment is an effective way to lead the large-scale implementation of blockchain applications: through decentralized smart contract payment protocols, it absorbs popular solutions from traditional payment providers, and is supplemented by incentives for the innovation capabilities of payment technology companies. Cryptocurrency has become an integral part of the real trading scene in the economic system.
As a decentralized payment and derivative financial solution, Alchemy’s vision is to provide ecosystem partners with open source agreements and rapid product development platforms based on the decentralization, smart contracts and consensus mechanisms provided by blockchain technology to help They provide merchants and consumers with a safe, flexible and easy to popularize global payment solution.
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