Introduction
This time we will discuss about our main Platform SGPay, what is SGPay ?.
SGPay is a 3rd generation e-wallet and e-payment mobile application that allows users to buy and sell cryptocurrencies, or make purchases using cryptocurrencies and fi on currencies. Our goal is to make SGPay a leading e-wallet and e-payment mobile application for everyone who lives in Singapore and the region.
Singapore made a good launch pad for the development and implementation of the SGPay function.Many payment providers have ignored Singapore as a potential market because of its relatively small market size. However, they failed to recognize Singapore's ability to quickly adopt innovative technology due to its highly educated workforce and tech savvy population. Singapore is also the leading financial center of Asia with one of the highest GDP per capita in the world. The Singapore Government recently advocated a national push for e-payment that will increase investment and acquisition opportunities in the sector.
Push Towards E-Payment In Singapore
Singapore has the "right materials" to be the Smart Nation, but lags behind other cities in certain areas such as electronic payments, Prime Minister Lee Hsien Loong said.
A payment system that integrates new technologies and trends like crypto that have a greater chance of generating a unique proposition versus the current market.
QR Code Payments are also shown as the center of attention. A newly formed payment board, set up to find ways to advance electronic payments in Singapore, has created a special task force to develop a common QR code for Singapore (SGQR) that can be used for widespread e-Island payments. The task force aims to introduce a standard QR Code that can be used by any payment application so that confusion can be avoided among Singapore Monetary Authority consumers (MAS) has advocated purely for true 'moneyless societies'.
Ready Market - The Perfect Launch
The chart above highlights the trend of mobile payments in Singapore - which has held a huge advantage in other regional markets. Despite its small size, Singapore's population has shown a much higher readiness to accept new trends in both mobile and electronic payments compared to neighboring countries such as Malaysia, the Philippines, Thailand and Vietnam.
Cryptocurrencies In Singapore
Singapore has quickly emerged as the preferred crypto center. Technology-friendly status, government grants and accommodative establishment of Initial Coin Offices (ICO) have made it a favorite for film-makers coming to Singapore. MAS also takes an accommodative approach where compliance and security regulations apply when considering specific rules for future implementation.
A Factor Award
Our drive to build a '3rd generation' wallet is highlighted by the 3 factors above:
§ The government's push towards e-payment and 'cashless' society will provide much needed public infrastructure and support for our platform
§ The absence of a current payment platform that is appropriate or close to AliPay's success in China and PayTM in India
§ MAS's regulatory approach to Crypto in Singapore that will assist in general acceptance and adoption of driving on our platform
Current Competitors
NETSPAR - Incumbent leaders in the payments sector are slowly embracing a unified payment culture without cash. Their strength is at the vast point of sale (POS) of legacy systems currently numbering more than 37,000 merchant outlets. Their application also allows users to get special offers from merchants. See above for a chart of how much mobile payments are made in Singapore.
DBS PayLah - Bank payment application by Development Bank of Singapore (DBS) that allows users to transfer funds via mobile phone number. Their app also lets users make and request funds transfers, pay bills and donate money.
CoinHako - The most popular local cryptocurrency wallet that allows users to transfer funds to buy Bitcoin and Ethereal. However, his wallet comes from a high price compared to other markets, some downtime and also the lack of mobile apps.
SGPAY - CREATE WALLET 3RD GENERATION
Great Promise in the Payment Sector E
The E-Payments industry promises a lot for companies that are able to secure a firm footing in the marketplace. Cue assessment case for MC Payments - which was recently earned for US $ 59 million (S $ 80 million)
This sector holds great promise as the next milestone for the industry which will be the 3rd generation wallet platform that hosts payments, cryptococcal transactions as well as integrated services.
Relative Project Values
Singapore has become a hotbed of a blockchain project due to its regulatory environment. The following is a list of incomplete projects, current market capitalization and also a brief summary.
DigixDao [DGD] - Market Capitalization of US $ 275 million
A gold-backed token built on the Ethereal blockade. DGX is a value store on blockchain and their token event takes place in 2016, garnering US $ 5.5 million.
TenX [PAY] - Market Capitalization US $ 255 million
TenX is built in partnership with credit card companies to include crypto in your card. This is done through a liquidity provider that handles many assets. TenX held their token event in June 2017 and successfully increased $ 80 million.
Kyber Network [KNC] - Market Capitalization US $ 190 million
Kyber Network is a new system that is on-chain and enables the ease of conversion and exchange of digital assets. This reduces the user's risk when trading crypto. Sales of Crystal Network Kyber managed to collect US $ 60 million in September 2017.
SGPay Token [SGP] - Market Capitalization US $ 4.8 million [At Full Allocation]
SGPay works in SGPay 3rd generation payment wallet. The creation of a 3rd generation wallet aims to integrate crypto, e-payment and other services on blockchain.
SGPay works in SGPay 3rd generation payment wallet. The creation of a 3rd generation wallet aims to integrate crypto, e-payment and other services on blockchain.
Problem
The E-Payments industry promises a lot for companies that are able to secure a firm footing in the marketplace. Cue assessment case for MC Payments - which was recently earned for US $ 59 million (S $ 80 million)
Solution
The introduction of SGPay and its token helped solve this problem and encouraged crypto growth in Singapore and Asia. The main benefit of this Improvement is the early adopter of cryptourrency.
First, SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an inbuilt incentive system that provides lower transaction costs to users who hold more SGPay tokens.
Full Feature Set
- Accessible from mobile devices on Android and Apple iOS
- Tokens are decentralized in blockchain
- The 'Cold-Storage' style wallet protects up to 99% of the crypto assets stored with us
- Support for transactions involving cryptocurrencies such as SGPay Network Token, Bitcoin, Ether
- Support for deposit / withdrawal of Singapore Dollar
- API is built to support exchange of traders and users
- Full access for users above their private key (platform will not save key)
- Support for debit and credit cards during the e-payment phase
- Deep integration with industry leaders from the fields of Insurance, Travel and other fields
- Monetized reward system built into platform
- Supports for locally developed cryptocurrencies such as Kyber Network Crystals, Zilliqa Tokens and more
Review Token
SGPay Token is an ERC20 compatible token on the Ethereal blockchain. These are promoted and used in SGPay, related business platforms and partner merchant outlets. Token holders enjoy various incentives such as low transaction costs when purchasing or selling crypto on the SGPay platform.
Launch Summary
· Token Name: SGPay Token [SGP]
· Total Provide: Up to 13.8 million
· Total General Supply: Up to 10 million
· Pre-Contribution Period: 1 Feb to 14 February 2018
· Pre-Contribution Offer: 2 million tokens @ US $ 0.40 each
· Main Contribution Period: 1 Mar to 31 March 2018
· Supply Main Contribution: 8 million tokens @ US $ 0.50 each
· Soft Cap: US $ 0.8 million
· Implied Market Mark: Up to US $ 4.8 million
· Minimum Contribution : 1 ET
· Maximum Contribution: 100 ETH
· Currency Received: Ether (ETH)
· KYC / Whitelisting: Yes
Token Properties
- Initial Limited Public Supply up to 10.000.00
- Fixed Supply Forever (No fluctuations)
- Token utility on our platform. As adoption increases the token value increases as supply is limited.
Budget allocation
The development of the SGPay system is already under way. Here is an overview of project planning. With an estimated completion in May 2018, the plan launches an early version of the system in July 2018.
Roadmap
TEAM
Deng Guangyuan, CEO
John Lim, STRATEGIC DEVELOPMENT LEAD
Su fi Yusof, LEAD BUSINESS DEVELOPMENT
Bryan Ho, LEAD MARKETING DEVELOPMENT
Vishal Maheshwari, LEAD PLATFORM DEVELOPMENT
Sumit Rajput, BLOCKCHAIN DEVELOPMENT
Sanjeevi Acharya, UI / UX DEVELOPER
Rolf Haudenschild, ADVISORY
Christel Quek, ADVISER
Ankur Maheshwari, ADVISER
Farhan Firdaus, ADVISER
Joelle Pang, ADVISER
Jenna Park, ADVISOR
Authors: YarisRiyadi1st
My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1756824;sa=summary
My ETH: 0x8B1820FB5829696cA5b595d09dF4e0F5757a97A7
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