Quote from: Jt2000 on October 05, 2017, 01:56:19 AM

Great article! Explains STK token really well. This team knows their stuff

Quote from: dubstar27 on October 05, 2017, 12:50:25 AM

Insightful Medium article authored by the STK CTO about how the STK token works to enable instant cryptocurrency payments at point-of-sale:

https://medium.com/@STKtoken/how-stk-works-6a504a50d843

From the article:

Quote

STK resolves the above problems by acting as a middleman between the existing payment rails and customers private crypto wallets. The STK token provides access to a payment channel between a crypto wallet and a 3rd party liquidity provider. This liquidity provider holds a reserve of local currency. Initially, the liquidity provider will be STACK. When making a purchase using STK tokens,
STK obtains a signed transaction from the customer promising to send cryptocurrency from their wallet to STACKs wallet.
STACK then pays for the purchase from its own local currency reserve, using the existing payment rails.

Normally a transfer of say Ethereum is validated by miners, but Stack seems to be saying they will short circuit this process? Is that right?

Otherwise how will it be instantaneous?

On what basis does stack accept the promise?