PayPro-Decentralized Banking and Marketplace
What Paypro ?
PayPro is a decentralized bank made for dealing with a new eco-system where value is represented in new forms thanks to Smart Contracts. Thus, PayPro is a decentralized financial-marketplace where any dApp can post its services. We are also developing a Wallet where users will be able to store crypto-currencies and any ERC-20 token.
After we have built PayPro, a user will be capable of storing ETH, BTC or GAS,for instance, and use the marketplace for investing in a crowdfunding platform, for instance. Likewise, the shares received from that investment in the form of tokens, will be also stored at PayPro. As a result of that, all the
crypto-assets and liabilities of an individual will be represented in PayPro.
Decentralized application
PayPro’s marketplace will be built as a decentralized application, also known as dApp. According to David Jonhston, a dApp must meet some criteria in order to be considered as such:
- The application must be developed open-source, it has to operate autonomously and the majority of tokens can not be controlled by an entity. Also, proposed improvements and market feedback may be adapted in the protocol. — In order to access the application and to reward any contribution of value from miners or contributors, a cryptographic token is necessary.
- Tokens must be generated as proof of the value generated to the application.
- A decentralized Blockchain must be used to store data and records of operation in order to avoid any central point of failure.
THE PRODUCT
We understand that the core functionality of PayPro has to be its capacity to store currency-value and spend it. Otherwise there is no point of storing value if it can not be used. For that reason, we have built the banking platform first.
- Wallet
PayPro will accept most forms of crypto-currencies. Using Ethereum will allow users to store at least the 100 most used currencies by transaction volume per day. Of course, PayPro Token will be our main currency and will be easily exchanged with any other currency.
So far, we have developed an iOS app that allows to store BTC, but this is just a proof of concept made for user experience purposes.You can download it on the AppStore here:https://itunes.apple.com/us/app/paypro/id1225181484?l=ca&ls=1&mt=8.
- Market place
On the one hand, users will be capable of using their PayPro Tokens, also known as PYPs, for buying any service in the marketplace. These services will range from loans or credits to investments. Once the user will have spent its PYPs, a token will be received and stored on the application as a result of using a Smart Contract. For instance,if a user wants to invest in a crowdfunding platform, he can browse for crowdfunding platforms, select a campaign, pay in PYPs and store the token received in exchange on PayPro.
How it works?
1.Review
Please, review our white paper and understand the terms of investment. Do not hesitate to contact us if you have any queries.
2. Whitelist
In order to be able to join our ICO, it is mandatory for us that you fill our know-your-customer form.
3. Agreement
Send your ETH from your MyEtherWallet, not an exchange. Once the campaign is closed, we will send you your tokens.
Future
In a future where Smart Contracts will be used for many of our daily activities, such as using decentralized computer power, trading or insuring a car, we believe that banking is also going to be decentralized.
On the one hand, traditional banking services are being decentralized thanks to many initiatives coming from all over the world and being built over the Ethereum protocol — some of them can be tracked here: https://www.stateofthedapps.com. In our perspective, all these applications need to be offered through a common platform same as Android applications are offered in Google Play, as otherwise the user experience diminishes.
On the other hand, users are going to need new forms of storing value due to the raise of smart contracts. All tokens coming from smart contracts and currencies need to be stored at the same place and hence, a new form of wallets need to be created. These wallets are meant to represent all the crypto-assets and liabilities of an individual.
ICO
Because PayPro is a complex challenge, we are yet to develop it. Though, all the code will be open source and we expect the community to join us on its development.
We are running this ICO in order to raise the necessary funds to kick it off. We are looking forward to starting working with you on this amazing project.
What is a Token Sale?
When further development is needed from a company, a token created by the company can be given in exchange of funds.
The benefits of a token sale are double; from a company perspective, the main advantage of it is that the company gains quicker access than traditional founding routes. From an investor perspective, there is a larger number of reasons why this method can be more interesting than traditional investment;
- While traditional funding consists on exchanging shares by money,which in most cases are not tradable, most tokens can be sold back tothe market at any moment in time. By doing this, investors can allocate their resources in more liquid assets.
- There is an increasing number of individuals largely exposed in crypto-currencies and hence, there is a need of generating yield within the ecosystem.
- It provides with a safe tool for investing anywhere in the world without the need of getting too involved in local law systems and jurisdiction conflicts aroused from it.
Token Sale Summary
- Name : PayPro Token
- Symbol : PYP
- Pre-sale period : January 8th to January 15th, 2017
- Pre-sale terms : Min investment of 15 ETH
- Pre-sale bonus : Bonus of up to 35%
- Main Sale period : January 15th to January 31st
- Main sale terms : Min investment of 0.5 ETH
- Main sale bonus : 1st 24 hours 20% 1st week 15% 2nd week 10%
- Exchange rate : 1 ETH : 500 PYP
- Limits : 20,000 ETH (Hard Cap) or EUR 5,000,000.00 depending on exchange rate.
- Accepted currencies : ETH only
- Token holder benefits : Decision & Economic rights.
- % of Token sold : 40%
- Nationality : Anyone except Singapore, Estonia and the US due to legal restrictions or countries trade sanctioned by the US.
Bonus
If an investor can not invest in the token pre-sale, he still can enjoy a bonus
via the following methods:
- During the first 24 hours, 20% bonus tokens.
- During the first week, 15% bonus tokens.
- During the second week, 10% bonus tokens.
Milestone
Website : http://www.payproapp.com/
Whitepaper : https://drive.google.com/file/d/1hKog8eUF8Jxhh7kCBNYQTOwOr5RdVMqX/view
ANN Thread : https://bitcointalk.org/index.php?topic=2460780
Facebook : https://www.facebook.com/thepaypro
Twitter : https://twitter.com/thepaypro
Telegram : https://t.me/share/url?url=t.me/payproico
Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1370037
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