This time I'm going to share an article about a project called PAYPRO, this project has great potential for success because that's why I will advise you to participate in this project.
What is PAYPRO ?
For that reason, we are building a marketplace with a dual functionality; on the one hand, we are building a wallet where users can store any form of token. This wallet is meant to store the financial crypto-balance of an individual, so our user could store on it a token representing the property over his flat, a loan or his life insurance. On the other hand, we are going to develop a marketplace where other dApps will can offer their financial services to our users
This marketplace is going to be developed in open-source code and is going to be fully decentralized.
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 ofvalue 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.
They strongly believe that PayPro can not have any right of ownership over the dApp. Otherwise, the essence of what a dApp would be broken. Out of 100% of the issued tokens, we are only distributing 40% of them on this ICO. Although we have been asked about the possibility of burning the remaining tokens, we believe that would bring the platform to be led by token holders who might not be prioritizing our long-term goals but mere speculation. As David Jonhston suggests, the ownership of a dApp become less and less centralized after having distributed its tokens via fund-raising and collaboration.
Following Jonhston’s scope, the ownership of the dApp is distributed further as participants with more diverse skills are incentivized to make valuable contributions. Also, those who value the tokens the most are being transferred with them through market forces. This ultimately promote even further the development of the dApp by those individuals who can help the most in the areas that they have expertise. Therefore, we understand that our duty is to progressively release the decision power not only when PayPro needs funds, but also as long as the community gets prepared to it.
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
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 userwill 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.
On the other hand, suppliers can submit their services to the marketplace. By using smart contracts, we can ensure that all transactions are made in a secure and efficient way. All suppliers will be rated by the users so the best suppliers can be recommended and the worst can be ruled out. By implementing this rating system we can avoid centralization and thus guarantee that services are client-focused and not the otherwise.
Token pre-sale
The token sale will start on November 22th, 2017 at 21:00h GMT and will finish on December 22th at 21:00h GMT or whenever the target value of 20,000 ETH is reached.
Exchange rates and limits
PayPro token will be sold at 500 PYPs to 1 ETH. Minimum investment is set at 0.5 ETH.
No other crypto-currencies are accepted.
Marketplace
Marketplace will be available around July 2019. All PayPro Token holders (PYP) will be able to purchase the services offered by dApps and can also contribute to investing in crowdfunding events. All transactions that occur in the marketplace will fully use Smart Contract. A service from Ethereum is highly reliable for a variety of secure transactions. Smart Contract can be considered as an independent Escrow, which can not be influenced by any subject. Smart Contract will receive fund from buyer or investor, then will forward it to the seller or platform developer who hold crowdfunding if all the requirements written on Smart Contract.
Token Sale Summary
Name : PayPro Token
Symbol : PYP
Pre-sale period : January 8th to January 15 th, 2017
Pre-sale terms : Min investment of 15 ETH
Pre-sale bonus : Bonus of up to 35%
Main Sale period : 15th January to January 31st
Main sale terms : Min investment of 0.5 ETH
Main Sale Bonus : First 24 Hours 20% , First Week 15% , Second week 10%
Exchange Rate : 1 ETH = 500 PYP
Accepted Currency : ETH Only
Token Holder Benefit : Decision & Economic Right
% Token Sold : 40%
Nationality : Anyone except Singapore, Estonia and the US Due to legal restriction or countries trade sanctioned by the US
Token Creation
The ERC20 standard is used for all Tokens made in Ethereal. 20,000 ETH will be placed and 40% of all PayPro Token will be issued in the initial sale. Smart Contracts are set so that PayPro Token shipments can happen automatically right after ETH is received. Token allocation is as follows:
- 5% will be distributed to the community from time to time in returnfor R & D and bounties.
- 15% is allocated to initial investors & supporters and future partnerships.
- 20% reserved for the current and most important team, the future team motivation package.
- 20% final will be held by PayPro, under community supervision, to achieve future sustainability through the distribution of network revenue.
Delivery of PayPro Token (PYP) from Smart Contract will occur as soon as the ETH is sent.
Rodmap 2017-2018
Team
The founders team has been working together for the last 3 years, so we already a solid team. It is made of 3 founders who cover Blockchain, technology and strategy.
- Pablo Ruiz, CEO: https://www.linkedin.com/in/ruizferrer
- Gabriel Llambias, CFO: https://www.linkedin.com/in/gllambias/
- Enric Giribet, CTO: https://www.linkedin.com/in/enric-giribet-us%C3%B3-a0159b31/
Advisors
- Qijiong Jiang, Ethereum Advisor: https://www.linkedin.com/in/qijiong-jiang-09934066/
- Wayra Telefónica, Investor: www.telefonica.com
- Maximilian von Sethe, Strategic Advisor: https://www.linkedin.com/in/92a05432/
- David Murray, Blockchain Advisor: https://www.linkedin.com/in/davidcmurray/
- Franc Carreras, Marketing Advisor: https://www.linkedin.com/in/franccarreras/
- Lluis Font, Growth Advisor: https://www.linkedin.com/in/luisfont/
More information please visit the link below:
Website: http://www.payproapp.com/
Ann Thread: https://bitcointalk.org/index.php?topic=2352783
Twitter: https://twitter.com/thepaypro
Facebook: https: // web. facebook.com/thepaypro
Medium: https://medium.com/tag/paypro/lates
My Profile link: https://bitcointalk.org/index.php?action=profile;u=1226790
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