UNIVERSAL PAYMENT BLOCKCHAIN

Graft Blockchain Foundation

Graft Blockchain is built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.
When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, and connected extra services.
Graft Blockchain is a socially responsible organization, introduces a decentralized, real-time payment processor and services platform into the global market covering a wide variety of credit and debit payment use cases. It allows merchants to accept small payments and avoid dealing with big banking and government institutions, prevents fears of recourse coming from corrupt societies; it frees consumers from the usurious interest rates on the credit card balances. Finally, it opens up global commerce where the governments are making cross-border transacting difficult.
Graft software that is not subjecto to shared intellectual property (IP) or under an NDA is under an open source license. Graft Foundation is a non-for-profit entity, and we intend to operate as such unless we’re forced to change status by the governing laws of the land.

Impact

We believe a Blockchain like Graft can have a far reaching impact, removing friction from the systems and enabling new use cases. To provide a few examples:
  • Consumers benefiting from lower prices due to merchants fees going down
  • Merchants offering more products and services
  • Consumers and providers benefiting from significantly lowered administrative and transaction processing overhead
  • Drop in physical and electronic crime due to shift to cashless and secure crypto-currency
  • Consumers benefitting from lower credit card borrowing costs resulting from peer lending

Core Set of Principles for Graft

Real Time Authorizations

Real time authorizations are the crux of the modern payment processing. Accomplishing real-time authorizations requires a flexible and scalable architecture and an end-to-end solution

Transaction Privacy and Untraceability as the Basis for Payment Blockchain

We believe that complete transaction privacy and untraceability should be at the basis of the payment blockchain. The private network then implements facilities that allow both parties to select the levels of disclosures that are appropriate for any given transaction ​

PoW / PoS / PoI working together

We believe that proof-of-work, proof-of-stake, and proof-of-id each have their place in an application specific blockchain implementation like payments. We believe in implementing and using all these various approaches gradually and selectively to accomplish the ultimate security of the network as well as speed and reliability of the transactions. ​

Open Platform for Service Brokers

It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. While some core features such as real time authorization and untraceability are provided and implemented by the network itself, many important services will be delivered by third party service brokers. It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. ​

Specialized Blockchains

Complex systems are not stable. We believe in specialization of blockchains vs having bloated one-size-fits all approach that other smart contract based blockchains implement. We will add smart contract features that are relevant to the application, with an eye towards integrity and reliability of the network

Organization

We intend to keep the core organization as small as possible (in the order of 15-20 people), mostly engineers. GRAFT Foundation team will not be engaging in the build-out of the network or any other administrative controls of the network. Our part is software design – we leave the commercial efforts to other parties who want to become part of the network.

While it will be core organization’s mission to build the software that will power GRAFT Network, it will be up to the eco-system of partners who will enable the commercial success of the project. We anticipate both function specific involvement from individuals and/or firms dealing with the specific aspect of the solution, to regional organizations who will act as market oracles in observance with local regulations, needs, and customs

GRAFT HIGHLIGHTS

Decentralized ProcessingNo central authority. No upfront contracts. All payment methods including credit cards are processed by the network
Universal SolutionAccepting both cryptocurrencies and credit cards. Merchant payouts in both cryptocurrencies and local fiat currencies
Tiny Transaction FeesFlexible transaction fee structure makes crypto micropayments possible
Instant AuthorizationsBitcoin takes 10-60 minutes to confirm a transaction. Graft takes seconds
Credit Card WorkflowsProvide compatibility with current systems and processes
Absolute PrivacyUntraceable, Unlinkable, Fungible. All Features of CryptoNote Plus Confidential Fee Amounts
Trust and ComplianceID and claim verification on demand. Reputation score system
Fast IntegrationCompatible with current credit card workflows. Flexible API and SDK
Convenience for BuyersMulti-currency, cross system wallets. And credit cards accepted too!
Merchant TokensEnable loyalty rewards, promotions, and other brand building
Cutting Edge Blockchain DesignBuilt on Monero (CryptoNote), leveraging both proof-of-work, and proof-of-stake techniques, Graft represents state of the art in the blockchain design
Free TransfersUsers Authenticated by Zero Knowledge Proof can move funds between wallets without Transaction Fee

Benefits

MERCHANTS (recipients)

Real Time Authorizations (Instant Confirmations)Instant transaction confirmation, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process
Low Transaction FeesTransactions are confirmed instantly, within hundreds milliseconds to a few seconds, which enables normal in-store and online checkout process
Special Transaction Types and Smart ContractsGraft Point of Sale apps support multiple transactions types that are unusual for cryptocurrency. For example pre-authorization and capture that are necessary for ticket booking, hotel check-in, or gas station payment. Schedule or Escrow transactions, which are essentially pre-programmed configurable smart contracts, can help businesses set up periodic remittance and subscriptions
Free Point of Sale App Accepts All Payment MethodsFree Mobile Point of Sale app accepts various cryptocurrencies and credit/debit cards, which eliminates the need to maintain multiple point of sale apps and wallets
Merchant Payouts in Local Fiat CurrencyTransaction are settled in real time and payouts can be received in local currency
Authenticated BuyersBuyers can confirm their identity in order to unlock some special transaction types which require age verification, for example

BUYERS (senders)

No Transaction FeesGraft transaction fees are always charged to the merchant, just like with traditional credit card payments. Small purchases with cryptocurrency will be finally affordable
Free Funds Transfers Between WalletsNeither sender nor receiver pays any fee for limited number of low priority slow funds transfers between wallets
Absolute PrivacyCryptoNote protocol ensures full untraceability, unlinkability, and fungibility of Graft blockchain, where sender address, recipient address, and transaction amount are cryptographically protected and invisible. On top of that, Graft adds “one more thing”; it makes even transaction fees invisible to public view
Spending CardThe Mobile Wallet user can pay everywhere using traditional debit card associated with multi cryptocurrency wallet
Crowdfunded CreditThe Mobile Wallet user can instantly request a crowdfunded “credit line”. No credit history checks
Zero Knowledge Proof Identity VerificationSome features such as free transfers or crowdfunded credit require user identification and authentication. Zero knowledge proof technology allows users to authenticate without compromising their privacy

SUPERNODE OWNERS (miners)

Block RewardsSupernode owners receive PoW block rewards.
Transaction FeesSupernode owners receive transaction fees for real time authorizations
Hosting Service BrokersSupernode owners receive a share of transaction and service fees charged by service brokers

Payments type comparison

CashDebitCreditMobileBitcoinGraft
PRIVACY Yes No No No No Yes
ACCEPTANCE Yes Yes Yes No No Yes
EASE OF USE Yes No No Yes Yes Yes
BUDGET CONTROL Yes Yes No No Yes Yes
CREDIT No No Yes No No Yes
CROSS BORDER No No Yes No Yes Yes
REWARDS No No Yes No No Yes
P2P TRANSFER Yes No No Yes Yes Yes
CRIME/FRAUD PROTECTION No No Yes No No Yes

Feature Comparison

Milestones

Current Engineering Roadmap

* The roadmap is subject to frequent updates and adjustments reflecting technology, market, and environment challenges and opportunities, and should serve as rough guide only.

Graft Coin Distribution

* – We don’t know exactly what it’s going to take to bring an ambitious project like GRAFT to its full potential. Currency fluctuations, regulatory issues, taxation, market development costs – are anything but certain. As such we retain a significant portion of the coin in the reserves to be used over the years as needed by the project team in order to accomplish projects ambitious goals of becoming a unified payment network of tomorrow. In the spirit of transparency, we’re making the wallet visible to community. [simple_tooltip content=”53145cb22afc84eb469b3726bc5c96314193726a99e48e50b717d63b54a7ac0f”] Wallet[/simple_tooltip] | [simple_tooltip content=”GBnQKoU73FySfuQ5sfoFLHYtxZbgH94y4CFZihQkxcvfUtpGK4B6Lm4YFtanesoH2jMDbwYPozJP45tcBnwBf9bZK2DVM37″]View key[/simple_tooltip]

TEAM

Slava
Founder
15 Years in Payment Industry. NCR and HP. Renowned Payments and Security Expert and Full Stack Technologist. Author of the Books “Hacking Point of Sale” and “Bitcoin for Nonmathematicians”
Dan
Founder
Serial Entrepreneur. Recognized Technology and Product Manager. Built and brought to market over half a dozen products – IDAM, CRMs, MDM, VoIP. Founder of BIOMIO – frictionless IDM. MsETM, CISSP.
Kate
Marketing
Growth-hacker with 16+ YOE in advertising and digital marketing in the US, Europe and Southeastern Asia.
Brad
Business Development
Serial Entrepreneur. Lead BD & sales at 4 technology businesses from birth to $50+MM in revenue. Multiple M&A transactions. C-level and GM roles at $100+MM companies.
Ben
Mining
With extensive Dev ops experience from some of the largest US and international banks, Ben is in charge of all things mining at Graft
Pavlo
Engineering Management
Engineering team lead with dozens of completed projects under his belt.
Vitalius
Engineering
PhD in Computer science, Vitalius is a highly sought after expert in Machine Learning, Image Recognition, and Blockchain algorithms.
Ilya
Engineering
Expert in C++/Qt cross-platform development with experience in cryptocurrencies and blockchain. Previously Monero developer.
Alexander
Engineering
C++ developer with 20+ years of experience. He participated in many kinds of projects such as commercial, industrial, and scientific for different operating systems and with cross-platform design.
Dmitry
Integrations Lead
Seasoned software architect and go-to engineering lead, gets things done in elegant, flexible, and reliable code
Oleg
QA Lead
Experienced QA leader and effective “cat hoarder”
Boris
Development Team Leader
Principal Engineer, SonicWall
Michael
Network developer
About me: lover of asinc I/O and network programming for exotic platforms, and also math puzzles
Fedor
Project Manager
Over 10 years of experience in the information technology industry with expertise managing large, complex multi-use development projects. Working in different business sectors, Fedor has a vast understanding of software development processes

Legal and Strategy Partners

Courtney R. Perrin
John S. Wagster

Advisors

Yulia Kadulin
COO, UkrSibbank BNP Paribas Group
Oleg Buzinover
CFO, SmartRg
Jason Gershenson
Attorney at Law, Speaker
Mitchell Cobrin
AnywhereCommerce global mPOS and omnichannel payment platform, Co-Founder