AMA Recap: CRYPTO MINERS x PRACHT PAY

Pracht is a payment processing platform for crypto businesses, providing access to global financial infrastructure with built-in fraud prevention and authorization optimization. Pracht is bridging the crypto and fiat worlds, accelerating bitcoin adoption. This mission is embodied via the Pracht Card Service. It gives businesses real-world bitcoin acceptance, effortlessly integrating the digital and fiat worlds. Furthermore, it provides consumers with mainstream-friendly access to crypto and web3 services, guaranteeing that anyone may reap the benefits of blockchain technology. Pracht is a versatile cryptocurrency wallet designed for the management of digital assets and seamless access to decentralized applications across multiple blockchain networks. With a strong focus on security, efficiency, and user experience, Pracht is set to revolutionize the world of cryptocurrency payments.

We hosted an AMA session with Pracht Pay on 23rd September.

Mr. Ramsy was the host from Crypto Miners and Mr. Kelly Foxley, CEO of Pracht Pay was the guest. He shared delightful knowledge and unique features of Pracht Pay.
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Segment 1️⃣: Introduction

Ramsy | Crypto Miners:
Hello everyone 👋 Welcome to Our Another AMA Session With PrachtPay

Today, we are very honored to invite Mr. Kelly To be our guest in our today’s session to introduce PrachtPay

Kelly Foxley:
Hi guys, hope everyone have a nice day

Ramsy | Crypto Miners:
Hey there

Welcome here mate

Kelly Foxley:
Yes, I’m very excited to be here today

Ramsy | Crypto Miners:
Thanks for bringing us PrachtPay

First of all can you introduce yourself to us?

Kelly Foxley:
Absolutely, happy to share a bit about my crypto journey! My name is Kelly, and I am the CEO of Pracht. Our team at Pracht comprises experienced professionals in the fields of blockchain technology, mobile internet, biometric identification, and machine learning. We have individuals with specialized skills and knowledge, and our team members come from diverse backgrounds, including finance, engineering, computer science, and business.
I’ve been involved in the cryptocurrency space for the past four years. Prior to my involvement in the crypto industry, I worked as an IT programmer where I developed a wide range of skills in software development and system architecture. My interest in blockchain technology began as I saw the potential it has in transforming industries such as finance and payments. Over the years, I’ve gained a deep understanding of the cryptocurrency market and its potential impact on various sectors of the economy.
My journey eventually led me to Pracht, where I’m fortunate to be part of a team that’s dedicated to making crypto more accessible and user-friendly. It’s been an incredible ride, and I’m excited about the future of crypto and the role Pracht plays in it.

Ramsy | Crypto Miners:
Glad to have you today Kelly 🤝

Now let’s begin our first part of the session Project introduction

Kelly Foxley:
Alright!!

Ramsy | Crypto Miners:
I’m pretty sure that our community is very much excited for that ✌️

1. Could you make a brief introduction about PrachtPay? What is your vision behind the project

Kelly Foxley:
Pracht is a blockchain-based payment platform that offers innovative solutions for secure and efficient digital payments. The project has three main products that aim to provide users with a seamless and secure payment experience. These products are the Pracht wallet app, Pracht Virtual and Physical card, and Pracht Payment.

The Pracht wallet app is a user-friendly digital wallet that allows users to store, send, and receive various cryptocurrencies. It is available on both the Google Play Store and the App Store, making it accessible to users worldwide. In addition to basic wallet functionalities, the Pracht wallet also offers advanced features such as savings and portfolio management. Users can easily manage their digital assets and track their performance using the wallet’s built-in portfolio management tools.

The Pracht wallet also comes with a built-in browser, allowing users to explore various decentralized applications (dApps) and interact with them directly from the wallet. This feature is particularly useful for users who want to take advantage of the growing number of dApps in the blockchain space.

Another product offered by Pracht is the Pracht card, which is a physical debit card that allows users to spend their cryptocurrencies just like they would spend fiat currency. The card is linked to the user’s Pracht wallet, making it easy to manage and access their digital assets. In addition to providing a convenient payment option, the Pracht card also offers a rewarding cashback program, giving users 5% cashback on all their card payment transactions for personal consumption.

Finally, Pracht Payment is a payment gateway that allows merchants to accept various cryptocurrencies as payment for their goods and services. It offers a secure and reliable payment solution that eliminates the need for traditional payment methods such as credit cards and bank transfers. Merchants can easily integrate Pracht Payment into their existing payment systems and start accepting cryptocurrencies from their customers.

Ramsy | Crypto Miners:
Sounds interesting 👌

Let’s explore more about PrachtPay…

2. What are the features and services of PrachtPay that makes it special as comparing other projects?

Kelly Foxley:
PrachtPay stands out in the crowded field of payment platforms for several compelling reasons:

1. Multi-Currency Support: PrachtPay supports a wide range of both fiat and digital currencies, allowing users to transact with their preferred currency seamlessly. This inclusivity opens up opportunities for global transactions without the need for currency conversion.

2. User-Friendly Interface: We’ve prioritized user experience, making our platform accessible to both cryptocurrency enthusiasts and newcomers. Our intuitive interface ensures that anyone can navigate and use PrachtPay with ease.

3. Security: Security is at the forefront of our platform. We’ve implemented robust security measures to protect users’ assets, including encryption, multi-factor authentication, and cold storage solutions. Users can trust PrachtPay to keep their funds safe.

4. Blockchain Technology: By harnessing the power of blockchain technology, PrachtPay ensures transparency and immutability in transactions. This technology also enables faster and more cost-effective cross-border payments.

5. Pracht Card: Our Pracht Card is a versatile payment solution that bridges the gap between the crypto and fiat worlds. It allows users to spend both digital and traditional currencies seamlessly, offering convenience and flexibility.

6. Cashback Rewards: PrachtPay offers users the opportunity to earn cashback rewards on their transactions, making it a rewarding platform for everyday use. The more you transact, the more you earn.

7. Community-Centric: PrachtPay values its community and actively engages with users through social media, AMAs, and other channels. We prioritize user feedback and continually enhance our platform based on their needs.

In summary, PrachtPay is special because it combines accessibility, security, and innovation to create a payment platform that empowers users to transact seamlessly in a global financial landscape. Our commitment to user-centric design and ongoing improvements sets us apart from the competition.

Ramsy | Crypto Miners:
3. What are the security measures that PrachtPay has in place to protect crypto businesses and their customers?

Kelly Foxley:
PrachtPay takes security very seriously, especially when it comes to safeguarding crypto businesses and their customers. Pracht adopts the world-leading security wallet architect, with an EAL 5+ secure element(to keep the private key in a safe and isolated environment), true random number generator(to make sure the private key is uniquely generated) and multiple layers of security sensors(to detect a malicious attack and trigger self-erasing mechanism). It is implemented with an air-gapped signing mechanism. All transaction data is transferred via encrypted QR codes between the hardware device and the Pracht App. There is no Bluetooth, no WiFi, no NFC, or any other radio frequencies, and thus keeping the private key in a 100% offline environment. On the software level, Pracht is implemented with device authentication, Passphrase, and self-erasing mechanism, protecting your crypto from supply chain attacks, radio-frequency attacks, and other attacks.

By implementing these security measures and maintaining a proactive approach to cybersecurity, PrachtPay aims to create a secure and trustworthy environment for crypto businesses and their customers. We understand the critical importance of protecting digital assets and take every precaution to do so.

Ramsy | Crypto Miners:
4. Now share about the native token $PrachtPay, what are its use cases and utilities in Your ecosystem? Also provide with us the tokenomics

Kelly Foxley:
The Pracht token (PRACHT) plays a central role in our ecosystem, and its utilities are integral to our vision. Here’s an overview of how PRACHT fits in and its key utilities:

1. Core Utility: PRACHT is at the core of our ecosystem, serving as the primary medium of exchange within the Pracht network. Users can use PRACHT to make payments, conduct transactions, and access various services and features.

2. Pracht Card Benefits: PRACHT unlocks a world of benefits for Pracht Cardholders. Users can choose different Card benefit levels by staking PRACHT tokens. These benefits include enhanced cashback rewards, lower transaction fees, and access to premium services.

3. Governance: PRACHT holders have a say in the governance of the Pracht ecosystem. They can participate in governance proposals, vote on key decisions, and help shape the future direction of the platform.

4. Staking and Rewards: PRACHT can be staked within the ecosystem to earn rewards. This incentivizes users to hold and stake PRACHT tokens, contributing to the stability and growth of the network.

5. Liquidity: PRACHT tokens are tradable on various exchanges, providing liquidity to users who wish to buy, sell, or trade them. This liquidity adds to the overall accessibility and usefulness of PRACHT.

6. Discounts and Promotions: PRACHT holders may enjoy exclusive discounts, promotions, and early access to new features and products within the Pracht ecosystem.

7. Cross-Chain Transactions: PRACHT facilitates cross-border transactions, enabling users to send and receive funds globally with reduced fees and faster processing times.

PRACHT is the lifeblood of the Pracht ecosystem, connecting users, merchants, and partners while offering a range of benefits and utilities. Its versatility and integration across various aspects of our platform make it a key driver of Pracht’s mission to simplify and enhance the world of digital finance.

Ramsy | Crypto Miners:
Lastly What PrachtPay achieved so far and What important updates and developments can we expect in the future?

Kelly Foxley:
PrachtPay has made significant progress in its journey, and we’re committed to continuing our efforts to provide innovative and secure solutions for the crypto community. Here’s a glimpse of what we’ve achieved and what you can expect in the future:

Achievements So Far:

Successful Launch: We’ve successfully launched Pracht App, offering a range of services that bridge the gap between traditional financial systems and the crypto world.

Secure Payment Solutions: PrachtPay has provided a secure and user-friendly platform for crypto businesses and individuals to send, receive, and manage digital assets with ease.

Global Presence: We’ve expanded our reach to serve users and businesses in various regions, making crypto transactions more accessible to a wider audience.

Future Developments and Updates:

We’re excited about the future and have some fantastic developments in the pipeline for the Pracht community. While I can’t reveal all the details just yet, here’s a sneak peek into what you can expect in the coming months:
Enhanced User Experience: We’re continually working to improve the Pracht App’s user experience. You can look forward to a more intuitive and user-friendly interface, making it even easier to manage your digital assets and conduct transactions.

Expanded Crypto Support: We’re planning to add support for additional cryptocurrencies within the Pracht App, providing users with even more options for managing their digital holdings.
Global Accessibility: Pracht is on a mission to expand its global reach. We’re actively working on partnerships and collaborations to make Pracht more accessible to users around the world.
New Features: We have some exciting new features in the works that will enhance the functionality of the Pracht App. These features are designed to streamline payments, provide valuable insights, and offer a seamless experience.
Sustainability Initiatives: Pracht is committed to sustainability, and we’ll be rolling out more initiatives to reduce our carbon footprint and promote eco-friendly financial solutions.
Community Engagement: We value our community’s input and engagement. We’ll be hosting more events, AMAs, and opportunities for our users to get involved in shaping the future of Pracht.
PrachtPay Evolution: Our PrachtPay app will continue to evolve, offering faster and more efficient payment solutions. We’re also exploring integrations with cutting-edge technologies like zk-sync to further enhance transaction speed and cost-efficiency.

These are just a few highlights of what’s to come. We’re dedicated to pushing the boundaries of digital finance, and we can’t wait to share these exciting developments with our community. Stay tuned for more updates, and thank you for being part of the Pracht journey!

Ramsy | Crypto Miners:
Thanks Kelly for this well detailed introduction about PrachtPay

That’s the wrap up of our the first part of the AMA session

Let’s now proceed to our Twitter Questions section

I hope you’re ready for that!!

Kelly Foxley:
Yes

Can’t wait for it

Ramsy | Crypto Miners:
So let’s roll…

Segment 2️⃣: Twitter Questions

1. As a payment platform, Pracht completed with built-in fraud prevention and authorization optimization, would you explain with us how the concept work, does any platforms has applied it before?

Kelly Foxley:
Certainly! PrachtPay employs a range of advanced technologies and strategies to enhance security and optimize authorization processes, ultimately safeguarding users and businesses from fraud. Here’s how it works:

1. Fraud Prevention:

Machine Learning and AI: PrachtPay utilizes machine learning algorithms and artificial intelligence to continuously analyze transaction data and user behavior. This helps identify anomalies and suspicious activities, such as unusual spending patterns or multiple transactions within a short timeframe.
Risk Assessment: Each transaction is subjected to a risk assessment that considers various factors, including the user’s transaction history, location, and spending habits. Transactions that trigger high-risk indicators may undergo additional scrutiny.
Real-time Monitoring: PrachtPay employs real-time transaction monitoring to detect and flag potentially fraudulent transactions as they occur, allowing for immediate intervention.

2. Authorization Optimization:

Efficient Verification: PrachtPay streamlines the authorization process to make it as efficient as possible while maintaining robust security. Users are authenticated in a user-friendly yet secure manner to reduce friction during transactions.
Multi-factor Authentication: PrachtPay supports multi-factor authentication (MFA) methods, adding an extra layer of security for users. MFA requires users to provide multiple forms of verification before completing a transaction.
Customizable Rules: Businesses using PrachtPay can set customizable rules for transaction authorization, tailoring them to their specific needs and risk tolerance.

3. Industry Standards:

PrachtPay adheres to industry-standard security protocols and compliance requirements to ensure the highest level of data protection and transaction security.

While the concept of fraud prevention and authorization optimization is widely used in the payment industry, the specific implementation and technologies employed by PrachtPay are unique to our platform. We continuously strive to stay ahead of emerging threats and provide the highest level of security for our users and partners.

Our goal is to create a payment platform where users can transact with confidence, knowing that their assets are protected against fraud and unauthorized activities.

Ramsy | Crypto Miners:
2. I read that the Pracht App platform offers users rewards and promotions for using its platform as a payment gateway,so how are these rewards accumulated and calculated?Also,would users be granted the right to withdraw this rewards at any time of their choice?

Kelly Foxley:
Indeed, PrachtApp offers a rewards program to incentivize and reward users for using its platform for payments. There is a 5% cashback on Pracht Card spending is a fantastic incentive for users. This means that when users make purchases or transactions using their Pracht Card, they receive 5% of the transaction amount back as cashback rewards. Here’s a breakdown of how it works:

Earning Cashback:

Users need to have a Pracht Card and use it for eligible transactions.
Eligible transactions can include everyday purchases, online shopping, dining out, and more, depending on the terms and conditions of the rewards program.
Calculation of Cashback:

The 5% cashback is typically calculated as a percentage of the transaction amount.
For example, if a user makes a $100 purchase using their Pracht Card, they would earn $5 in cashback rewards (5% of $100).

Redeeming Cashback:

Users usually have the option to redeem their accumulated cashback rewards based on the terms and conditions of the rewards program.
Redemption options may include converting the cashback into a usable form, such as fiat currency or cryptocurrency, or using it for future transactions within the Pracht ecosystem.

Pracht’s rewards and promotions are designed to incentivize and reward users for using its payment gateway, making it a more attractive and beneficial option for conducting financial transactions.

Ramsy | Crypto Miners:
That’s the wind up of our twitter segment

Now Moving on to our last segment — Live Q&A

Shall we mate?

Kelly Foxley:
Let’s do it

Ramsy | Crypto Miners:
Cool
Let’s go,

Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and miners sent hundreds of questions. Guest choose some to answer)

1) DERR:
Functioned as one stop solutionfor crypto payments, which parts of the Pracht that will make them become the first option for users, which networks has supported currently?

Kelly Foxley:
Pracht aims to become a one-stop solution for crypto payments, offering various features that make it an attractive option for users. Currently, Pracht supports several networks, including Sei Network, BSC (Binance Smart Chain), ETH (Ethereum), and Arbitrum. Here are some key aspects of Pracht that position it as a preferred choice for users:

Multi-Network Support: Pracht’s support for multiple networks allows users to transact and manage their crypto assets across different blockchain ecosystems. This flexibility ensures that users can choose the network that best suits their needs and preferences.

Sei Network Integration: The integration with Sei Network is a significant advantage, as it enables fast and cost-effective transactions. Users can benefit from the speed and scalability of Sei Network while using Pracht’s services.

BSC and ETH Compatibility: Pracht’s compatibility with BSC and ETH provides users with access to a wide range of decentralized applications (dApps) and DeFi platforms on these networks. This opens up opportunities for users to participate in various crypto activities seamlessly.

User-Friendly Experience: Pracht is designed to offer a user-friendly experience, making it accessible to both crypto enthusiasts and newcomers. Its intuitive interface and streamlined processes simplify the management of crypto assets and payments.

Secure and Trustworthy: Security is a top priority for Pracht. Users can trust the platform to safeguard their assets and data through robust security measures and best practices.

One-Stop Solution: Pracht’s comprehensive approach means that users can manage their crypto holdings, make payments, and explore various DeFi services all within a single platform. This convenience makes Pracht a go-to solution for all things crypto-related.

2) Baby Shop:
Governance tokens often play a crucial role in shaping the development and direction of DeFi projects. Could you elaborate on the specific governance functions that offers and how token holders can actively participate in decision-making within ecosystem?

Kelly Foxley:
PRACHT tokens are pledged, rewarded and paid as fees to drive and incentivize all of the ecosystem’s functions.

Incentivises Partners and Investors
PRACHT has helped create a thriving online community of investors. And the rewards our partners receive incentivise them to help expand the partner network.

Value Correlated to Network Growth
The reduced supply and increased demand for PRACHT as a result of network use and expansion raises the value of the token. This benefits our investors and partnered businesses who hold, pledge, and get rewarded with PRACHT.

Funds Growth and Development
50% of the transaction fees are used for business development, marketing, and promotion. PRACHT provides an organic and sustainable budget to attract and onboard new businesses for continuous expansion.

Voting Rights: PRACHT token holders have the ability to participate in on-chain governance by voting on proposals and decisions related to the project. This includes voting on protocol upgrades, changes to parameters, feature additions, and more.

Proposal Submission: Token holders can submit their own proposals for changes or improvements to the Pracht ecosystem. These proposals are typically subject to community voting, ensuring that decisions are made collectively.

Decision-Making: PRACHT holders collectively decide on key matters that affect the ecosystem’s development, security, and functionality. Decisions are typically made through a democratic voting process, with each token representing one vote.

3) julian Springsteen:
What specialized services does Pracht provide for both DeFi and traditional financial products, and under what circumstances are they offered?

Kelly Foxley:
Pracht provides specialized services that bridge the gap between DeFi and traditional financial products, catering to a wide range of users. Here’s an overview of these services and the circumstances under which they are offered:

1. Multi-Currency Support: Pracht offers support for both fiat and digital currencies. Users can seamlessly exchange between these currencies, making it easy to navigate between traditional and crypto financial systems. This service is available to users at all times, providing flexibility in managing their assets.

2. Fiat and Crypto Accounts: Pracht provides users with the ability to maintain both fiat and cryptocurrency accounts within a single platform. This feature is always available and enables instant currency exchange between these accounts.

3. Custodial and Non-Custodial Wallets: Pracht offers both custodial and non-custodial wallet options. Custodial wallets are suitable for users who prefer convenience and are willing to trust a third party with their assets. Non-custodial wallets are for users who want complete control over their crypto assets. Users can choose the wallet type that suits their preferences and risk tolerance.

4. Access to DeFi Ecosystems: Pracht ensures secure and seamless access to various DeFi ecosystems. Users can participate in DeFi protocols and yield farming with ease. This feature is continuously available for those interested in DeFi opportunities.

5. Over-the-Counter (OTC) Exchange Rates: Pracht’s card offers competitive over-the-counter exchange rates, making it attractive for users who frequently engage in international transactions or travel. These favorable rates are accessible whenever users use their Pracht card for payments.

6. Business Banking Services: Pracht extends its services to digital asset companies and DeFi institutions. These entities often face challenges in accessing traditional business banking. Pracht’s services include access management and permissions for teams, ensuring that business owners can manage the platform efficiently.

7. Innovation and Development: Pracht continuously updates its platform to incorporate the latest payment and currency transfer methods. Whether it’s innovations in traditional banking or DeFi, Pracht strives to remain at the forefront of banking technology. Updates and improvements are rolled out as needed, ensuring that users have access to cutting-edge financial services.

In summary, Pracht’s specialized services are designed to cater to users’ diverse financial needs, whether they are focused on DeFi, traditional finance, or a combination of both. These services are available under various circumstances, providing users with the flexibility to choose the features that align with their financial goals and preferences.

*This segment ends here*

Ramsy | Crypto Miners:
Thankyou so much Kelly for your valuable answers and information about PrachtPay

Time To Conclude Our AMA Section

Is there anything else you would like to share or you want us to know?

Kelly Foxley:
Yes

🔥 Pracht Pay — SAFU | KYCed | Audit

Pracht is a blockchain-based financial platform that combines traditional and digital finance services. It includes a crypto wallet, Pracht Card, dApp ecosystem, and PRACHT token for utility and governance.

📞 Already Done:

✅ Virtual crypto cards
✅ Physical Crypto Card
✅ Staking
✅ iOS wallet App
✅ Android Wallet App
✅ Partnerships
✅ Our project was presented in Miami at The Bitcoin Conference

Upcoming Plans⭐️

🟢CEX tier 1 listing
🟢Certik coming
🟢The next app update will be released very soon.
🟢Staking commission with high APY

Pracht aims to bridge the gap between traditional finance and the emerging blockchain and cryptocurrency space, providing users with a seamless and secure way to manage their digital assets and engage with decentralized applications.

Presale Link: https://pinksale.finance/launchpad/0x0311399414449E51EEfE216B082C12962d3497E8?chain=BSC

Here’s some info about our project, hope that you guys enjoyed this AMA

Ramsy | Crypto Miners:
On behalf of miners community wish all the very best for PrachtPay and the entire team behind the project❤️🤝

Kelly Foxley:
Thank you folks for your great interactions, and Ramsy, Thank you for hosting me! It’s really enjoyable! I wish you all stay safe and healthy. Best wishes. Have a great day.

Ramsy | Crypto Miners:
Thanks mate

Have a nice day 👋

If you would like to learn more about Pracht App, here are some useful links for you:

Website: https://pracht.app/
X: https://twitter.com/PrachtApp
Telegram: https://t.me/PRACHTAPPGLOBAL
Discord: https://discord.gg/sSQuFprQk6
Instagram: https://www.instagram.com/prachtpay