PayPro begins a race for decentralized financial apps to compete and brand themselves as the best choice for users. However, the platform doesn’t sell or offer any services, instead it is a base for financial applications supplied by others. Such financial applications can post their administrations/services on PayPro, which then becomes the commercial center.
Building on blockchain technology, PayPro is launching the crowdsale of its new token called, PIP. To potentially reach the baselines of the milestone, they are starting a universal wallet that supports and stores multiple tokens including ERC-20.
The platform aims to build an advanced wallet in the near future, wherein all the details of an individual’s crypto assets, liabilities and who is participating in PayPro are easily accessible. Users can store BTC, ETH or GAS and use the marketplace to participate in a crowdfunding process. Depending on the investment amount, one can receive PIP tokens.
PayPro is developed as a Decentralized Autonomous Organization (DAO), following which the platform outlines a few general requirements to qualify an app for dAPP.
The platform sets itself apart by supporting internal capital and decision-making capabilities.
Check out our interview with Pablo Ruiz, CEO of Paypro
The background and the beginning
PayPro emerged in 2015 as an online tool, by supporting 25 currencies to save up to 90% on the hidden banking fees. It had two funding rounds of €750,000 which were regulated by the Financial Conduct Authority in the UK.
From its whitepaper the firm was processing up to €500,000, which paved the way for today’s ProPay platform. The company was established with constructive understanding and breakthrough technologies and aims to transform the traditional payment/banking industry with a brand new decentralized dAPP center.
As well as blockchain, PayPro is focusing on smart contracts to perform activities which include decentralized computer power, trading cars or insurance. The banking applications which are already associated with Ethereum protocols can get higher reach if present on one platform, hence PayPro.
Just as Google Play presents all the Android Applications, this platform will be a decentralized financial-marketplace which empowers a universal crypto-wallet and a financial network.
The features and specialization
The PayPro wallet: The wallet will store multiple cryptocurrencies along with PayPro tokens. These tokens can easily be exchanged with other cryptocurrencies. Beside Android version, its App is also available for iPhone users.
Using their PIP through its marketplace, participants may apply for services like loans, credits and investment. As soon as they spend the PIP and have a smart contract on the network, a new token will be generated and stored on the PayPro applications. Though the platform is decentralized, its anonymous factor runs through a rating system, wherein suppliers present their service using a smart contract on an open source network and users rate the applications considering various factors including the service they experienced. Thus the best sellers become more visible and that makes for healthy competition.
What is PIP, zPIP?
The platform uses high security thus justifying its decentralized process. PIP is the official crypto token of PayPro, and the zPIP is a rating. While the value of PIP depends on the market, zPIP’s value remains static as $1.
Earning zPIP is a win-win situation; suppliers are more likely to attract new clients, and also these tokens can be exchanged for PIP at the fixed value of 1USD.
The Token Sale
Total HardCap: Hard Cap: 5000ETH
Token name: PIP
Reward name: zPIP
Pre-Sale: Jan 8th-Jan 15th 2018
Pre-Sale bonus: Up to 35 percent
Crowdsale (January 15th– Feb 4th 2018): Minimum investment of 0.5 ETH
Crowdsale bonus: 1st 24 hours 20%, 1st Week 15%, 2nd Week 10%
Countries excluded: Singapore, Estonia, US, China
November 2017: Release of iOS App featuring BTC trading
February 2017: strategic planning on project management and development
March 2018: Hiring and Collaboration will take place
May 2018: Ethereum wallet will be integrated to store tokens in wallet
July 2018: Launching of Marketplace to enable suppliers to offer their services.
CEO: Pablog Ruiz
CFO: Gabriel Llmbias
CTO: Enric Giribet
Technical Advisor: Josep Sanjuas
Developer: Roger Baiget
PayProApp will be a hub for decentralized financial apps with a more competitive rating process. Such a rating process helps new users to decide on the best marketplace for them. Also, suppliers and users can earn zPIP token rewards which can be exchanged for PIP tokens in the future.
For detailed information on how the funds will be distributed during the crowdfunding process or to learn more about the project and the team behind the scenes, please check PayProApp and its whitepaper.