Metal Pay: Decentralized Payment Application with an Ethereum-based token
The mobile payment that rewards you for going crypto
The cryptocurrency market is full of different projects that aspire to being the ultimate payment method of the future. Although Bitcoin has seen tremendous success, it still hasn’t achieved mass adoption, even with 8 years in the game. But Metal (a payment decentralized application with an Ethereum-based token) is making it possible for users to move and spend Bitcoin and other cryptocurrencies across the globe in an efficient way.
Metal sets out to create an incentive for ordinary consumers to change fiat to cryptocurrency, and then spend cryptocurrency, by rewarding its users every time they make the digital switch and spend through the platform. With plans to support a variety of ERC20 tokens including Bitcoin, Ethereum and the Metal token, Metal is set to go head-to-head with the payment services of the world.
The Metal team
Metal is driven by a team of engineers, designers, entrepreneurs and payment industry experts led by CEO Marshall Hayner. The team is comprised of individuals with a mix of experience and passion for cryptocurrencies. They also boast of a solid team of advisors that prominently feature in the cryptocurrency universe.
With a target of under-banked industries, Metal is set to provide a payment service for both businesses and individuals that will be cost-effective and efficient. Through its wallet app, metal will provide accessible and regular transactions that will incentivize mainstream markets to opt for a decentralized, open-network payment method.
Poised to pioneer the uptake of cryptocurrency in the mainstream market, Metal comes with a variety of features that make it stand out. It features a proof of processed payment reward system that incentivizes users with 5 percent of their USD transactional value in Metal tokens. For businesses, this would translate to earrings worth up to $5000 USD per month, while individuals would enjoy up to $1000 worth of MTL tokens.
The Metal team considers proof of processed payment a more efficient method of token distribution, as it maintains a decentralized token distribution approach. The PoPP payout is planned to stop once the tokens reach a maximum of about 66 million MTL tokens.
Metal will also feature a complete bank and checking account, plus a debit card and routing number that “normal” bank accounts come with. Furthermore, the accounts will feature FDIC insurance from the US, thus providing asset security for users in the cryptocurrency world. Although this feature will initially only be offered in the US, Metal has set up plans to roll it out to other countries – with plans to set it up in the UK in 2018.
Is Metal a promising future cryptocurrency payment platform? Let us know your thoughts!