Decentralization & Empowerment

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The Future of Social Payments

The Okcash protocol is not just about sending money from A to B. It has a strong and constantly growing social presence, an Universal name and It has many features like Encrypted Anon Messages Chat and opens many possibilities that the community is still exploring. Here are some of the technologies currently being researched and in some cases, turned into real products and services. The most interesting uses of Okcash are probably still to be discovered.

 

Protection against fraud

An unprecedented level of security is possible with Okcash. The network provides users with protection against most prevalent frauds like charge backs or unwanted charges, and Okcash are impossible to counterfeit. Users can backup or encrypt their wallet and hardware wallets could make it very difficult to steal or lose money in the future. Okcash is designed to empower and allow its users to have complete control over their money.

Worldwide accessibility

All payments in the world can be fully inter operable. Okcash allows any bank, business or individual to securely send and receive payments anywhere at any time, with or without a bank account. Okcash is available in a large number of countries that still remain out of reach for most payment systems due to their own limitations. Okcash increases worldwide access to commerce and it can help international trades to flourish.

Cost efficiency, Energy friendly
Long term sustainability

With the use of cryptography, secure payments are possible without slow and costly middlemen. An Okcash transaction can be much cheaper than its alternatives and be completed in a shorter time. This means Okcash holds some potential to become a common way to transfer any currency in the future. Okcash could also play a role just like Bitcoin in reducing poverty in many countries by cutting high transaction fees on worker's salary. Okcash uses Proof of Stake technology, meaning there is no need for special equipment or high energy bills to pay like it happens with most cryptocurrencies, making Okcash Long Term sustainable and Energy friendly.

Tips and donations

Okcash has been a particularly efficient solution for tips and donations in several cases taking social economic interactions to the next level. Sending a payment only requires one click and receiving donations can be as simple as displaying a QR code. Tips and Donations can be visible for the public and can be received even over social networks where it uses the user name instead of Okcash addresses to send and receive Okcash, giving it increased social potential and transparency for non-profit organizations. In cases of emergencies such as natural disasters, Okcash donations could contribute to a faster international response.

Social Crowdfunding

Okcash can be used to run Kickstarter-like crowdfunding campaigns and launch Social Crowdfunding campaigns with HeadTalker, in which individuals pledge money to a project that is taken from them only if enough pledges are received to meet the target or share an idea or project to support and create awareness. Assurance contracts are processed by the Okcash protocol, which prevents a transaction from taking place until all conditions have been met.

Mobile payments
Micro payments

Imagine paying for your coffee or gas with ease from the tip of your fingers with 1 click on your mobile phone, viewing web pages with a small tip for each ad not shown, or buying bandwidth from a WiFi hotspot by the kilobyte. Okcash is efficient enough to make all of these ideas possible. Payments happen virtually instant and the number of Okcash coins in existence will be 5x times Bitcoin, giving it full potential for mobile - micro payments development and use.

  

Automated solutions, IoT, ROKOS

Automated services usually have to deal with costs and limitations of cash or credit card payments. This includes all kinds of vending machines, from bus ticket booths to coffee machines. Okcash is suited to be used in a new generation of automated services as well as to cut their operating costs. Imagine self-driving taxis, or a store where your basket lets you pay your purchases without waiting at the queue. Many ideas are possible. Okcash has a release focused for the upcoming IoT technology code named ROKOS for Raspberry Pi devices, which includes clients for the top cryptocurrencies and is distributed for free to support the IoT/Crypto adoption.

Trust and integrity

Okcash offers solutions to many of the trust problems that plague banks. With selective accounting transparency, digital contracts, and irreversible transactions, Okcash can be used as a ground to restore trust and agreement. Crooked banks cannot cheat the system to make a profit at the expense of other banks or the public. A future in which major banks would support Okcash could help to reinstate integrity and trust in financial institutions.

Resilience and decentralization

By its high decentralization, Okcash created a different form of payment network with an increased level of resilience and redundancy. Okcash can handle millions of dollars in trades without requiring military protection. With no central point of failure such as a data center, attacking the network is a more difficult project. Okcash could represent an interesting step forward in securing local and global financial systems.

Multi Chain

The Okcash system is multi-chain DEFI with a cross chain OK token that can get integrated in to different Blockchains or networks.

LTSS Proof of Stake
Saving-Sharing economy

Okcash is been continuously created by the Nodes that secure the network, meaning the users that keep their wallets opens gain a % Reward on the coins they stake, making Okcash a perfect system for a sharing economy, where the users that support and secure the network gains the rewards that can then be redistributed in the network.

Multi-signature accounts

Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This could be used by a board of directors to prevent any member to spend parts of their treasury without other members' consent. This can also be used by banks to prevent theft by blocking payments above a threshold if the user does not provide additional credentials.

Dispute mediation

Okcash can be used to develop innovative dispute mediation services using multiple signatures. Such services could make it possible for a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. Since these services would be compatible with any user and merchant using Okcash, this would likely lead to free competition and higher quality standards.

 

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