YAP CHAIN is an Ethereum basedSmart City platform. Ethereum supports compatibility for Solidity and supportsContract 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 theYAP Chain. Members of YAP Stone can swap tokens. There is an ongoing Bitmax Negotiation Issuefor the symbol. The current swapschedule for YAP to transfer the coin from Bitmax requires KYC. The website states, “## KYC Schedule: Allcoin 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 notcompleting the swap by 24:00 hours on February 15, 2020, will execute the KYCprocess 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 needfor any intermediaries, and the payments can be settled without any commission.Online and offline Integrated payments are as well available. The exchangerates vary depending upon the current value.
Yap Stone (YAP) is used for arange of services in Smart Cities like ID card, Online Shopping, and more. Various benefits are facilitated with YAPdiscounts and additional services through affiliates. It is very easy to pay with YAP using QR Codeor Barcode readers. When making anonline payment, it is enough to enter the PIN to make the payment.
It is possible to make Domesticand Overseas remittances with just one click. Users can withdraw can from ATM using YAP STONE to make domestic andoverseas 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 regionindicates the inflation of the particular area. The added value to the region is restored, and consumption isaccelerated within the region. The YAPWallet Exchange function can be used to exchange Local Currencies with YAPSTONE for use in different smart cities. This, in turn, will improve the usageand interaction of the YAP in other Smart Cities.
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