YAP CHAIN is an Ethereum based Smart City platform. Ethereum supports compatibility for Solidity and supports Contract development for Smart City.
Lloyd Park, CEO of YAP CHAIN in the past, stated, “YAP CHAIN Foundation launched a full-fledged action plan to develop an ecosystem by initiating a reverse ICO Blockchain-based smart city platform. The CEO emphasized that YAP CHAIN will overcome the limits of Ethereum.”
YAP Chain focuses on making Smart City as a unified computer which will enable users to make smart payments, smart contracts, MOU voting, etc. using the decentralized blockchain ecosystem. The users will be able to enjoy comfortable and secure city life without the involvement of a third party.
Yap Stone is the YAP token on the YAP Chain. Members of YAP Stone can swap tokens. There is an ongoing Bitmax Negotiation Issue for the symbol. The current swap schedule for YAP to transfer the coin from Bitmax requires KYC. The website states, “## KYC Schedule: All coin holders must complete the swapping process by 24:00 hours on February 15, 2020.” The website further states, “## Swapping Schedule: From March 2, 2020 – 10AM.”
The coin holders who are not completing the swap by 24:00 hours on February 15, 2020, will execute the KYC process after March 3, 2020, and the coins will be swapped sequentially.
Using the YAP Blockchain, consumers and service providers will be able to interact directly without the need for any intermediaries, and the payments can be settled without any commission. Online and offline Integrated payments are as well available. The exchange rates vary depending upon the current value.
Yap Stone (YAP) is used for a range of services in Smart Cities like ID card, Online Shopping, and more. Various benefits are facilitated with YAP discounts and additional services through affiliates. It is very easy to pay with YAP using QR Code or Barcode readers. When making an online payment, it is enough to enter the PIN to make the payment.
It is possible to make Domestic and Overseas remittances with just one click. Users can withdraw can from ATM using YAP STONE to make domestic and overseas remittances in only one click.
YAP STONE Wallet, ALADDIN Wallet, and ALADDIN Pro are available for download from the main website.
The Local currency of the region indicates the inflation of the particular area. The added value to the region is restored, and consumption is accelerated within the region. The YAP Wallet Exchange function can be used to exchange Local Currencies with YAP STONE for use in different smart cities. This, in turn, will improve the usage and interaction of the YAP in other Smart Cities.
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