The blockchain provides
GOeureka with the required token economics needed to eliminate high commission
fees and the ability to facilitate interoperable loyalty points. GOeureka’s platform
also benefits from the distributed ledger technology that guarantees security
and transparency across its platform.
GOeureka chose the
Ethereum blockchain due to its flexible and extensible nature. The use of
Ethereum smart contracts allows for the creation of “autonomous agents” that
may be implemented throughout GOeureka’s platform to automate many processes
and remove various third-parties that usually result in a slower process and
multiple transaction fees that lead to high costs.
While moving towards a
fully decentralized platform, GOeureka will look into the adoption of key
blockchain technologies such as zero knowledge proofs, off-chain computation
solutions and recently introduced Ethereum technology like the Plasma and
Raiden network.
Hotel
Services
Upon check-in,
authentication tokens will be sent to GOeureka’s hotel CMS and guests will be
matchmade with the hotel they have checked into once tokens are authenticated
in the backend. Hotels and guests will have direct access to each other and
will be able to communicate for the duration of the stay. Guests will be
entitled to the aforementioned hotel services, depending on what hotels make
available.
GO
store
The GO store is an in-app
exchange for token holders to purchase GO credits using GO tokens. It is a safe
and fast liquidation option for token holders to convert tokens into spendable
fiat-value credits. Users enjoy discounted products and services on the
GOeureka platform when purchasing with GO credits. GO credits are fiat-valued
in-app credits that allows for instant transactions and off-chain
settlement. Token holders will redeem
GO credits according to the prevailing market rate at time of exchange.
GOeureka will rely on data sources from various exchanges and number of custom
oracles to retrieve the average token price on the market. Users will use the
proxy wallet detailed below to exchange GO tokens for GO credits.
The
Proxy Wallet
One key issue typically
faced when designing a blockchain system for mass adoption is the handling of
user wallets. While a hardware wallet like a Ledger Nano or a plug in like
Metamask can expect users to use a recovery phrase, general users are unlikely to
be happy with such a solution. We
intend to use what is called a proxy wallet for all Ether transactions:
1. Users will undergo a
proof of identity when signing up for GOeureka
2. Cryptographic Key
Pairs are created on user devices and never leave their devices
3. A corresponding smart
contract called a “proxy wallet” will be created on the blockchain
4. The user channels all
transactions via the proxy wallet which is tied to the user’s identity
5. The proxy wallet
allows the user to interact with all parts of the GOeureka system
6. On registration of a
lost phone, GOeureka can, via a rigorous process, establish the identity of the
account and assign that person’s new address to be the new controller of the
proxy wallet.
The proxy wallet is
already in use in several organisations.
Payment
Processing
GOeureka aims to provide
multiple payment methods that appeal to both traditional and crypto consumers.
Consumers will have the option to transact using fiat currency, major
cryptocurrencies, GO credits or loyalty points. Prices of goods and services
will be displayed in fiat and the cryptocurrency of user’s choice. There are
multiple available approaches for the development of GOeureka’s payment
processing.
For the traditional
checkout process where payment is made in fiat, GOeureka will implement a
third-party payment gateway. This method sees payment being processed through a
payment gateway (e.g. PayPal) that sends transaction details to a payment
processing network (typically hosted by a merchant’s bank). Once processed, the
processing network sends approved data to the credit card issuer to proceed
with the funds transfer.
For More Information About GOeureka :
My Profil Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2312297;sa=summary
Address : 0x37809e113fFB840B132C7aa872a3f6d2eaD31160
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