On Wednesday, October 30th, Cred and Universal Protocol Alliance will present a live demo of a point-of-sale device for making purchases with cryptocurrency. Cred's PoS Financial Operating System allows customers to use any encrypted wallet for their point-of-sale purchases and will debut with the acceptance of bitcoin money. Future versions of the credited financial operating system will also accept debit cards, credit cards and gift cards and allow businesses to earn interest and benefit from a line of credit. The event in Emeryville will kick off at Blockchain Week in San Francisco and will bring together several California officials and renowned blockchain leaders.
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Bring Crypto to a New Summit: An Event Featuring Cred's Global Merchant Solution
The Universal Protocol Alliance (UPA) and Cred have organized an event at the Ohana dispensary in conjunction with the San Francisco Blockchain Week. News.Bitcoin.com reported on the progress of the UPA and Cred in California when Ben Bartlett, a Berkeley City Council member, became the first elected to make a purchase using bitcoins. The purchase at the Ohana dispensary ended up instantly settling into a stable currency that allows the trader to avoid the volatility of the digital currency.
Cred co-founder Dan Schatt told news.Bitcoin.com that the event Wednesday would also feature a live demo of point-of-sale hardware running the Cred Financial Operating System. The company will accept cryptocurrencies and will instantly install itself in the UPUSD Alliance stablecoin for the merchant and on behalf of the city's tax collector.
"Several California politicians will be present, including local mayors and members of the Bay Area City Council and county assessors," said Schatt. "We will also have leaders in the cryptography industry – the CEOs of Cred, Uphold, Bitcoin.com, Omisego and reporters," added Schatt:
Some things will be presented that have never been possible: the instantaneous perception of taxes, especially in a sector that receives only 17% of tax revenue, instant settlement with the merchant (this usually takes three days with Square), the opportunity for traders to earn money. interest on their products and to borrow.
Digital currency innovation combined with frictionless settlement with Stablecoin
The invitation to the event indicates that there will be music, food and cocktails. Special guests will include members of the Blockchain Advocacy Coalition, Bitcoin.com CEO Stefan Rust, Emeryville Mayor Ally Medina and Berkeley Board Member Ben Bartlett. The event will display not only the powerful potential of crypto-currencies such as bitcoins, but also the innovation behind the stablecoins. The Universal Dollar (UPUSD) is a stablecoin published by the Universal Protocol and the first stablecoin to appear on Uphold. Each UPUSD is backed by the US dollar and coins are minted with every transaction written on Ethereum.
"The UPUSD newsletter is completely transparent and unanimously corrected with the dollar. This demonstrates the power of several companies that have come together to support the very practical case of providing significantly better financial services to cash-intensive industries, "Schatt told news.Bitcoin.com. "Every transaction, whether it's facilitated by debit, credit, pre-paid or BCH – Payment translates into the purchase of LBA as a translation utility token, which is then collateralised and the service UPUSD is advanced to the merchant. This requires the collaboration of many companies. Cred as an approved lender, Universal Alliance as a coin mechanism stablecoin, BCH integration into the PDS system. "
The "Bring Crypto to a New Summit" event at the Ohana Clinic on October 30th will begin at 5:30 pm and the organizers say "be sure to bring your Crypto wallet to the experience of 39; a new revolutionary use case for the blockchain ". In addition, free transportation will be provided to accredited participants of the San Francisco Blockchain Week. If you attend the blockchain conference in the Bay Area and wish to see a revolutionary global merchant solution, sign up for the free event. right here.
What do you think of Cred's Global Merchant solution? Let us know in the comments section below.
Image credits: Shutterstock, Cred and Pixabay.
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