Decentralized gaming app plans to challenge PayPal and Stripe with blockchain payment infrastructure

A screenshot of a computer Blockchain

Decentralized gaming app plans to challenge PayPal and Stripe with blockchain payment infrastructure

Decentralized finance in the right solution may eliminate the dark side of gaming.

Millions of companies—from startups to large enterprises—have unfair access to payments. As a result, they have little choice but to transact through a third-party payment processor. Fortunately, the mass adoption of DeFi may present the foundation to change this reality with an opportunity to transform the legacy systems businesses have grown accustomed to. In alignment with their name, the team behind Smile Coin is providing a payment processing solution for any company that funds fun – with functionality specific to gaming and a host of other features that extend far to a number of other industries. The team has since made in their aim to bring together everything that’s required to accept payments and send payouts globally—except faster and cheaper by harnessing the blockchain.

In the words of their co-founder, Nick Bucheleres, 

“There is an obvious and growing gap between businesses that operate legally, and those which cronies like PayPal and Visa are willing to offer services to. We are pleased to announce the Smile Coin payment gateway: the PayPal killer.”

With Smile Coin, access is increased, transparency is improved and companies and players gain a more fair and cost effective solution.

The future of gaming

Smile Coin (SMILE) originated in 2021, where it came to life as a decentralized gaming portfolio and payment gateway DApp on the Algorand blockchain (ALGO). The project’s first release included two parts. First, a payment gateway that will incentivize companies that weren’t native to the Algorand blockchain to try their platform. Incentives included tokenized rewards and the launch of first-part casino-style games and staking rewards. The second part of the release was a decentralized gaming portfolio. This core product would allow players to manage and improve their gaming activity across the Smile Coin ecosystem.

The dApp, which has now launched, is set to eventually include an entire suite of DeFi products necessary to fuel the future of gaming. Among the most notable are a bridging solution that, when leveraging the Algorand Virtual Machine (AVM) network and smart contract system, will bridge the gap between non-native blockchain gaming platforms so they can distribute their data across the same blockchain (Algorand). Other solutions include a single global gaming currency that users can leverage to harvest, earn rewards or stake and AI-powered returns that give users the chance to enact prediction strategies to seek out the most profitable opportunities available to them in their gameplay.

With this diverse functionality, Smile Coin is positioned to do as it sets out, achieve high fees, eliminate slow payment processing, and remove unfair banking regulations common in the gaming industry. By solving these problems, the team behind Smile Coin will transform the way gaming businesses and gamers transact in new and growing digital gaming economies.

The result? Smile Coin continues to operate with the mission to bring together the best features and tools through a DeFi protocol, paving the way for tomorrow’s gaming ecosystem to have seamless payment processing and more insight into players’ gaming transactions.

A reason to smile

With many exciting developments underway, Smile Coin’s team launched their dApp in November and onboarding five network gaming partners who will participate in the network. The team also announced the release of an API to facilitate the growth and scale of new network partnerships.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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