Paycoin
PCIAbout Paycoin
What is Paycoin?
Paycoin (PCI) is a blockchain-based payment project initially developed as an in-house initiative by Danal, a South Korean payment service provider. To advance the project independently, PayProtocol AG was established as a separate legal entity in Switzerland in September 2018. Paycoin represents one of the earliest and most prominent use cases of blockchain-based payment systems in South Korea, combining regulatory foresight with practical merchant integration.
PayProtocol AG launched PCI, a utility token designed specifically for payment purposes, on a private blockchain network based on Hyperledger Fabric (HLF). The ecosystem was further expanded in April 2019 with the commercial release of the Paycoin app, enabling users in South Korea to make real-world payments using PCI for the first time.
Paycoin represents one of the earliest and most prominent use cases of blockchain-based payment systems in South Korea, combining regulatory foresight with practical merchant integration.
What are the real-world applications of Paycoin?
Paycoin offers a global cryptocurrency payment platform designed to make using digital assets for real-world payments easy and convenient. Paycoin is evolving beyond a simple payment coin, aiming to expand the practical usage of crypto assets and enter the global payments market.
What is the technology behind Paycoin?
Paycoin is powered by a robust technological foundation that blends blockchain innovation with real-world payment expertise, aiming to bridge the gap between digital assets and everyday commerce. The following points summarize the key technological aspects of Paycoin:
Who is the founder of Paycoin?
Paycoin is a blockchain-based payment project driven by Danal, one of Korea’s leading integrated payment solution companies, and it was developed based on Danal’s more than 20 years of accumulated payment infrastructure and expertise.
Danal is the world’s first PG Payment Gateway to develop a mobile payment solution, holding over 50% market share in Korea’s mobile payment sector, and currently supplies integrated payment solutions to 12 countries worldwide.
To address issues such as high transaction fees and slow settlement cycles in the traditional payment market, Danal integrated blockchain technology into its payment infrastructure, commercializing a service that enables the use of digital assets for real-world payments.