What is BeamFi?
In short, BeamFi is a micro payment solution for transferring a continuous stream of money or values represented by the tokens in real-time without intermediaries.
- Create a constant stream of payment across a defined period.
- Each Beam is an Autonomous Stream powered by smart contracts running on Internet Computer's Canisters.
- Utilize smart contract for self-custody escrow payment.
- Allow 3rd party developers to send or receive streaming payment via BeamFi Protocol and API.
- 3rd party developers can integrate their system to BeamFi as the service providers for users' upstream income or downstream payments.
- 3rd party developers can deploy their own BeamFi smart contract as a separate Vault instead of using the main Vault, with its properties e.g non-stoppable Beams
- Remove the intermediaries and their fees, putting the power back to the users.
- Real-time utilization of streamed money increases the utility of capital and economic efficiency of idle money.
- Solve the long-term job problem - Why are workers still paid at the end of the month/job?
- Bring fairness, as with lump-sum payment, one party always has an advantage.
- Users will have full ownership of their payment data and how it can be used to provide analytics services or insights to them, by allowing 3rd party companies to read their data with their consent