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Imagine the restaurant entrepreneur. Their dream of one day opening their own place, their own business has finally come true. Able to create, choose, and cultivate their product and customer in the ways they want, they’ve finally made it and become their own boss. Little do most entrepreneurs know, however, that when they decide to open shop the unseen financial dungeon of labor, taxes, and cash flow will soon steal their soul. A few wrong moves during the first few years in business and suddenly, the dream can turn into a nightmare.
“Small businesses don’t fail because it’s a bad business. They fail because of cash flow problems,” Chris Wheat, director of business research for the JPMorgan Chase Institute.
Small businesses live or die based on how they manage their cash flow patterns. Irregular flow patterns, not enough reserves, and too many expenses can quickly inhibit a business’s ability to grow and thrive. The top questions many financial institutions encounter on a regular basis are around sending and receiving payments and the problems that still persist, such as long time delays and difficulties in their money being available in their account when they need it.
Enter Alza; the technology that is taking on the challenges that exist today in payment processing and blockchain and creating a new hybrid, decentralized, and more efficient process. Alza is seeking to solve the issues of transaction speed & cost that plague the current payment industry and blockchain. We are a team of engineers, data scientists, and product experts dedicated to creating solutions that enhance and progress the current system in place. Not reinventing every aspect but analyzing what can be done in a better way.
We aim to help the small business owner survive and thrive because they are able to take payments from their customers and settle those payments into their business accounts seamlessly and immediately. Even the process of simply ordering coffee has been revolutionized by the new technology processes of ordering via mobile and having it ready for your pick up when you arrive in store.
The current payment technology solutions that are most widely used have been in place for more than thirty years.
In theory blockchain payment technology is a promise for a better way; a more secure and integrated eco-system for the flow of transactions. However, since it’s inception in 2009, there remain issues of cost, complexity, and speed which keep it from being used more widely. There is definitely an opportunity to improve on processes and systems that are no longer working.
The ALZA technology works as an all-in-one solution for the entire network that combines coordinated off-chain transactions that maximize speed and efficiency. Along with the reliability of Redundant Array of Satellite File Infrastructure (RaFi) and Hadoop open source software, we are able take the current data flow that exists today and apply blockchain technology to mimic the current flow but route the data components better on the backend.
With the introduction and adoption of the ALZA platform, we are looking to transform the way financial business is transacted, as the all-in-one payment network solution with the highest efficiency and lowest cost. We believe that blockchain technology is the future for payment processing and we are making it possible for this type of technology to be used in the real world, accessible by all.