Euno-Pay – EUNO

EunoPay

Euno-Pay – EUNO crypto

Today we’d like to introduce you to a small-cap project that we’ve been following for quite some time and are pretty sure will be on the radar of many. This post contains information we received directly during a phone conversation with their CEO, Patrick. As always, this post is intended to be informative.

What is Euno-Pay – EUNO?

Pay every day with EUNO. Despite the amazing innovations and use cases in the decentralized digital currency industry, cryptocurrencies are still mainly seen as speculative investments. EUNO was created with the goal of addressing these issues that hindered widespread public acceptance, while preserving the key features of cryptocurrencies. Namely, cryptocurrencies must be: decentralized, reliable, immutable and imperishable.

“The ultimate vision of EUNO is a widely accepted and extensively distributed digital currency that can be used by consumers over the air (OTA) via ‘Near Field Communication (NFC)’ and can be used for point of sale (POS) transactions, with minimal requirements for technical expertise by users and integration processes by merchants. ”

The use of cryptocurrencies as payment depends on both consumers and merchants. If consumers show sufficient demand, merchants are more likely to accept cryptocurrencies IF the exchange from crypto to fiat is immediate to protect the merchant’s exchanged amounts from price volatility.

General info about Euno-Pay – EUNO

EUNO Coin combines a stable blockchain with Proof of Stake and Masternodes, allowing for a large number of fast and secure transactions. PoS is used to create an additional layer of security in a more cost-effective and energy-efficient manner than PoW can provide. Finally, masternodes are used to promote stimulated network support. Nodes maintain a real-time copy at all times and are distributed depending on the number of live nodes. Check out the EUNO white paper (page 6) for more technical details and to learn about future masternode features.

Because EUNO is so secure, and because it enables such fast transactions, it is the ideal currency to use for NFC (payments).

Note: EUNO stands for privacy, so they will not require KYC. However, based on your location, you yourself may still be asked by your local government to provide certain transaction details.

Use case of Euno-Pay – EUNO

Setting up a (crypto) payment system can be difficult, increasing the barriers for merchants to use it. EUNO aims to enable merchants to do so without integration costs or technical know-how. The EUNO payment system uses Near Field Communication (NFC) technology, which allows payments to be made when the customer holds their phone close to the payment terminal. This is already very common in our daily lives for non-cryptocurrency payments.

Retailers do not need to set up expensive crypto payment systems. They can easily start using EUNO with a simple software update of their current basic payment systems (This will be done by the payment system owner, the Merchant does not have to do anything). After this update, merchants will automatically accept EUNO payments that are immediately converted to their local fiat currency. For users this means fast and secure payments, for merchants this means no volatility risks.

Coin holders will also be able to participate in the decentralized governance structure. This means you can submit proposals, vote on proposals and help structure the overall strategy and development of EUNO. But that’s not all. To promote global coin distribution and encourage usage, the ACID protocol was introduced to provide a portion of the rewards to users of EUNO outlets. In effect, they get a “cashback” on their purchases, directly into their wallets. More information can be found in the white paper (page 8).

EunoPay Team

The Team

The team has a total of seven members on the website. I asked for some more information about their experience during my phone conversation with Patrick, to which I received the following response: Patrick himself has a Fin-tech background and stepped down from a great job to pursue his vision for EUNO. Patrick met his team members in the early days of Verge, where they met in the Verge community.

They were clearly fans, but noted that there were many things that could be done differently or better. Having a vision is one thing, it’s another thing to execute on it and make it happen. While talking to Patrick, I immediately noticed that he is all about execution and creating key partnerships rather than making empty promises.

Roadmap & Upcoming Partnership

The EUNO roadmap can be found here.

EUNO swapped their token to their native chain a couple of months ago. According to Patrick, a swap to their new blockchain was required by their upcoming partner. Patrick could not give me any insight into who this partner might be.

However, by actively doing my research and thinking about what possible partners there could be. I think it will be a partner that is a huge global company and used by many.

Since I think it will be a huge company that is used by many merchants. With a simple update to their current payment systems, EUNO will be accepted by millions of merchants around the world (without them having to notice). However, we will have to wait for this announcement.

These merchants already pay fees for their systems. These fees are shared among the payment providers, which means this would be the way EUNO will generate revenue.

EUNO Wallet

Where to buy and sell Euno-Pay – EUNO?

What do we think about Euno-Pay – EUNO?

Some of the things I noticed are:

  • EUNO is fully self-funded and is supported by a team that really believes in the project. There is still enough money available and allocated for a major marketing push. In addition, the team plans to hire more people soon.
  • EunoPay will be available in more than 150 countries on 30 million NFC terminals.
  • Retailers can easily set up EUNO Pay on their current payment systems. Instant currency conversions allow them to be protected from volatility.
  • Users can easily use the mobile wallet to pay at these terminals, just as is already done today with non-cryptocurrency payments.
  • Currently, more than 300 masternodes are already running on the network.
  • The market capitalization of EUNO is still only $9 million USD. If this partnership will happen, I expect it to go through the roof, with a large number of exchanges looking to add EUNO right away.
EunoPay

Conclusion about Euno-Pay – EUNO

I added EUNO to my long-term portfolio for a number of reasons:

First, I’ve wanted to see mass adoption of crypto payments for a long time. And I feel like this is the closest I’ve seen a project actually achieve this (and I’ve been using my Coinbase card for a long time now). I would like to support this project early on and would love to be one of their first users.

Second, EUNO still has a small market cap. There is a huge risk/reward ratio here that I just can’t ignore. Also, without having done any marketing, EUNO already has a very active community full of enthusiastic people.

That said, I hope you enjoyed reading my post. I would encourage you to use this information as a basis for your research. Also, please always do your own research and don’t just blindly follow our posts. This post is for informational purposes only, I am not a financial advisor and currently hold a position in EUNO. I do not intend to change this position within 48 hours. I have not been paid for this post, this post is out of personal interest.

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