According to BusinessWire, Dr. Pungila, Co-Creator of aBey speech at the Malta Blockchain sumit revolved around technology’s superiority through blockchain. He highlighted ways to improve blockchain focusing on “performance-based retail transactions”.
Dr. Pungila reviewed key facts about the aBey blockchain, saying “aBey first saw the light of day in July 2018, and by the blockchain’s first anniversary had amassed more than 100,000 active users.” aBey’s growth rate exceeds Bitcoin’s early growth by a factor of more than eight times.
Dr. Pungila continued, “The aBey blockchain’s features include support for blazing speeds of a very high-transaction volume, refundable transactions (a world’s first), intrinsic lending, including on-the-spot lending with instant compliance checks using Vault Lending Gateways (a world’s first), support for affiliate marketing referrals and payment of commissions using Trusted Payments Gateways (a world’s first), payment processing on chain and a multi-layered approach to e-commerce, making aBey a complex, hybrid blockchain in terms of interoperability. Optional account names that can replace long cryptic numbers are intrinsic to aBey and are not a paid service as with other blockchains, and this greatly enhances users’ discovery of other permissionless users in their networks.”
aBey will introduce a WordPress plug in known as aBeyWPP to bring transaction processes to many websites. aPay Systems of Malta has integrated parts of aBey’s core components as the aPay’s technical underpinning. aPay CEO Philipp Sauerborn said, “As a blockchain-focused payments processor handling very high volumes of transactions per second, our B2B and B2C users demand speedy transaction completions. Using aBey technology we are able to meet and exceed their expectations. Before we licensed and merged aBey’s technology into our own, transactions written to other blockchains required minutes, even hours to complete. Now, utilizing the aBey blockchain, we typically complete every transaction in milliseconds. There is no other blockchain which can deliver such speed and flexibility, strongly demanded by businesses and consumers.”
“aBey was designed and built to stand amongst the world’s fastest and most flexible open-source blockchains, while at the same time providing tangible solutions for use-cases of common day-to-day e-commerce, a concept that no other platform currently implements natively,” Dr. Pungila said. “It’s clear that the fintech industry has been disrupted by the agenda of the blockchain industry. And while it’s still unclear how that disruption is going to change lives or how it’s going to actually change due to legislation in various countries, I think that it’s clear at some point a lot of our society will have to embrace this change.”