The year 2008 brought to the world a Sechuan earthquake, Nargis cyclone, Lehman Brothers bankrupt and finally the global crisis. But despite these tragic events, good things occurred to. One of them was publishing by Satoshi Nakamoto the document called "Bitcoin: A Peer-to-Peer Electronic Cash System". And since November 2018, this technology is still developing. Meet PLAZA – a project who promises to be faster and more convenient blockchain than any before.
What PLAZA offers is a complex solution covering main b-commerce needs, consisting of the rewarding ecosystem for buyers (called Freedom Lifestyle) and a specially dedicated high-speed blockchain for sellers and business (MerchantChain). PLAZA blockchain allows to make even 15 000 transactions per second, what makes it just slightly worse result than VISA (24 000 transactions per second). In comparison, the most popular coins we use like Ethereum or Bitcoin make less than 100 transactions. New generations blockchains like Ripple or Neo are 10 times slower than PLAZA.
The main idea of technology is to integrate already existing payments system with a new technology. For example, you pay for something with a debit card. The transaction will be verified by the standard processing network and then by the PLAZA Merchantchain. For dealing with the outside parties PLAZA is going to use an ETH protocol. Another part of this scheme – MechantChain is built on internal Proof of Reputation (PoR), low-power blockchain. PLAZA ecosystem gives a possibility for the users to communicate within the blockchain through an app. And finally the last part is a PLAZA CORE so the open source layer made on public smart contracts.
A bit more complex scheme you can see in the picture below:
But PLAZA platform is not only a MerchantChain. The not less important share of this ecosystem takes PLAZA Lifestyle Rewards. As I wrote before PLAZA was created as a future-proof distributed ledger for commerce. And to fulfil this role there is a special reward system for consumers, PLAZA users. To make it a more convenient tool the interaction with the platform will go through the chatbots.
As many other blockchains (Bitcoin, Ethereum) MTC (MerchantChain Transaction Coin) tokens can be mined. Actually, in a very convenient way – by the mobile or desktop app (witnessing transactions).
The scheme from the picture above gets even more complicated with the double currency system the PLAZA has:
The second token called PLAZA will be exchangeable outside the system and inside through the plug-in. More details you can see on the graphic above.
Just 2 days are left until the end of PLAZA ICO.
From the public sales beginning (September), 215,809,000 PLAZA has been sold and 36,200 ETH has been collected. Planned soft cap – 1 million (5 000 ETH) has been exceeded over 5 times. As I already wrote this make a result in a difficult for cryptomarket times.
The purchase can be made just with the Ethereum with the current Price: 1 ETH = 5,000 PLAZA
The exact number of tokens mint depends on the sales numbers and it will be fixed just after the ICO finishing. From the created amount of tokens 15% will go to the team and founders, 1% is planned for a bounty, 15% for reserve, 4% for advisors and early investors and 65% will be available to purchase during different stages of a public sale.
The team presented on the website is pretty small. Although, as I understood it is just a core. The rest either works on demand or has not a very impressive CV. Cause the guys presented on the website to have remarkable experience on a field of a new technology, business and finances.
Each team and advisory board member have a LinkedIn profile where you can check their previous working experience and connections.
Kevin Johnson - CEO & Chief Architect
Tracey Allan Powell - Interim Chief Operating Officer
Ronald Aai - Technology Director
Michael Sinclair - Chief Marketing Officer
David Gillbanks - Chief Communications Advisor
David Colton - Chief Commercial Officer
Dr. Jason Corbett - Chief Legal Advisor
Yehoshua Westover - Director of Business Development & Innovation, Greater China
Bob Blower - Banking & Regulations Advisor
Matthew Brussel - InfoSec Advisor
Sydney Ifergan - Media Advisor
Per Lind - Business Development Advisor
Mike Morritt - Community Advisor
I have to say a good word about PLAZA marketing department. These guys are doing a very good job. For today the PLAZA project has been covered or mentioned by:
Besides media, PLAZA appeared on plenty listing websites like:
PROs and CONs
- High competence
- Open question if another currency is needed (having in mind the great efforts on bitcoin promotion for example).
+ Complex ecosystem (dual currency, rewards system, merchantblockchain)
+ Successful ICO (collected 36,200 ETH – what makes a result in the actual bearish market situation)
+ Experienced core team
+ Debit card for system users – small but a nice bonus
If you want to learn more about the project check the links below: