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”
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.
Growth-hacker with 16+ YOE in advertising and digital marketing in the US, Europe and Southeastern Asia. Founder of 42DM agency. Kate worked with such biggest global companies as Xerox, Microsoft, Nokia, Samsung, as well as with promising fintech startups such as Incomlend and DiPocket.
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.
With extensive Dev ops experience from some of the largest US and international banks, Ben is in charge of all things mining at Graft
Engineering team lead with dozens of completed projects under his belt.
PhD in Computer science, Vitalius is a highly sought after expert in Machine Learning, Image Recognition, and Blockchain algorithms.
Responsible for communication subsystem. Previously Monero developer / contributor.
Expert in C++/Qt cross-platform development with experience in cryptocurrencies and blockchain. Previously Monero developer.
Legal and Strategy Partners
Courtney R. Perrin
John S. Wagster
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
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
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
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Graft Network is build 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 Network is a socially responsible organization, introduces a distributed, 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.
All the Graft software 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.
We believe a network 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
- Commerce and societies in general becoming fairer due to inability to install artificial barriers to commerce that benefit high-power individuals or lobbies
- 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 AuthorizationsReal 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 NetworkWe believe that complete transaction privacy and untraceability should be at the basis of the payment network. 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 togetherWe 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 BrokersIt 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 BlockchainsComplex 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
OrganizationWe estimate it will take an organization of 70-80 people to carry out the vision of fully developed Graft network. Having lead a dozen or so large size product development efforts in our careers we believe in the following principles when it comes to building an effective organization that is capable of executing on the Graft vision: Organization-wide
- Decision transparency
- Ownership culture
- “Disagree and commit” culture
- Recognition for “Above-and-beyond” to stimulate constant improvement and ownership
- Time-driven (bracketed) development
- Platform / solution division to build in product flexibility
- Engineers “wearing customers’ shoes” (always or at least from time to time)
- Clear CPDM funnel
- Team and personal “thermostats” to avoid burn-outs
- Hire stars but avoid collisions
- Always ask 5 Why’s (https://en.wikipedia.org/wiki/5_Whys) (Six Sigma)
- Put best people on “opportunity”projects ( as opposed to problem projects) (P. Drucker)
- Re-write piecemeal rather than rewrites from scratch
- “You’re shiping the org structure” approach
- Engineering organization consists of sub organizations (pods) divided by the area of expertise
- Each engineering pod fosters knowledge and advancement within its own area
- Each pod allocates engineers to the projects (new feature or new hw product) based on the needs and per roadmap
- At any given time pods should contain n+1 or n+2 engineers based on the forecasted load to compensate for bug fixing, new employee development, refactoring, and staff churn.
- PM’s have their own organization which allocates the right PM for the right project and where they share and advance knowledge
- Releases are time driven and cadenced. The organizations learns how to manage time properly within the cycle to get on a regular schedule.
- PDLC depends on the project and could be super-agile or “almost waterfall”, depending on the nature of the project
- People move around between projects and up-and-down in roles, ensuring constant growth