Decentralized Banking and Marketplace, PayPro

What Paypro ?
PayPro was born in 2015 as an online tool for making payments in 25 currencies saving up to 90% on hidden bank fees. We got regulated by the Financial Conduct Authority, raised two funding rounds of €750,000 in total and spent a little bit more than a year in the market. We managed to process € 500,000 per month, which is not bad at all compared to the early beginnings of Kantox or Transferwise, for instance.

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.

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.

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