How SelfPay Plans To Make Accepting Cryptocurrency Seamless For Sellers

In the last year the price of Bitcoin has risen dramatically hitting over $6,500 per coin just in the last month.

Other cryptocurrencies like Ethereum have also risen equally as sharply.

As a consequence there are now plenty of people with some pretty fat crypto wallets.

There are plenty of people with crypto to spend. The challenging part is finding someone who will actually accept crypto payments.

Merchants have been reluctant to accept crypto payments. There are a number of reasons for this.

First accepting Crypto can just seem to complicated. Merchants are after all trying to run a business, not necessarily cater to a very specific portion of their customer – albeit an affluent one.

Secondly, there is the problem of speed of transactions. Bitcoin can be slow, which doesn’t make it an ideal medium of exchange.

Lastly, there is the issue of the fluctuating exchange rates. Overall Bitcoin and other cryptos have headed up. But along the way it has certainly been volatile. Thats the kind of volatility that most merchants don’t want to have to deal with.

Naturally they would like to receive their payments in their local fiat currency.

For the crypto industry this is actually a pretty big problem. Bitcoin doesn’t necessarily have to become a medium of exchange but at least one cryptocurrency should be able to be used for day to day purchases if the sector is ever going to realise it’s full potential.

Lot’s of cryptocurrency startups are trying to tackle this problem but one seems to have a very good workable solution.

SelfPay is a decentralised, cryptocurrency payment aggregator.

It takes the pain out of accepting cryptocurrencies for merchants because all of the exchange takes place on a web app used by the buyer.

The merchant can receive final payment for their goods and services in fiat currency – or cryptocurrency if they prefer.

For buyers, they don’t have to download anything or add a new app to their phone. It’s as simple as scanning a QR code or clicking on an SMS message.

Even better for merchants they receive 20% of the transaction fees as a reward.

Token holders do just as well out of the system thanks to the Buy Back program.

40% of the transaction fees are sent to a Buy Back program. This executes a smart contract which buys back SxP tokens in the market at a set price.

Token holders can be confident that there will always be liquidity in the market and a base price available for selling their SxP tokens.

Overall, it’s a big win win for every participant – customers, merchants and token holders.

SelfPay Mobile Phone

Overview of the SxP Token Sale

Token symbol: SxP
Token sale length: 30 days
Goal of token sale: 250 ETH
Tokens available: 7,404,000
Link to website: https://ico.selfpay.asia/

Going Forward

SelfPay have established a clear road map of where they want take the network. Following the token sale they are set to have their official product release in Q4 2017. The funds raised during the ICO will enable the SxP buyback and cash back programs to be integrated into the app. The SxP will also be added to major crypto exchanges. Sales teams will be established in order to market the product in Southeast Asia.

By Q1 2018 it’s all about expansion. Customers will be able to pay using their banks accounts and credit cards. SelfPay will also develop a new marketplace where every merchant in the network can sell their products. This will give merchants another e-commerce channel and enhance the benefits they receive from using SelfPay. In line with this SelfPay will also integrate with any e-Commerce platforms that they haven’t already done so with.

In Q2 2018 the blockchain will be fully integrated into the system. Sellers will be able to receive rewards in any of the major cryptocurrencies. The added bonus of this for SxP is that the fees will be taken in the tokens that the sale is transacted in. This will in turn be sent to the distribution contract helping to support the value of SxP tokens.

By Q3 2018 the SelfPay exchange should be fully setup and sellers can be paid in any cryptocurrency. This will make accepting cryptocurrency completely seamless from the merchants perspective. In addition SelfPay will look at integrating with other blockchain projects in the eCommerce space.

Read more:

SelfPay ICO Website: https://ico.selfpay.asia/
SelfPay ICO Whitepaper: https://ico.selfpay.asia/pdf/whitepaper-selfpay.pdf

How MicroMoney Can Provide Loans In 15 Seconds For Billions Of People With Zero Credit History

Imagine for a moment that you had never used a bank account.

That all of your expenses – bit and small – had to be paid only with cash.

When emergency strikes or you need to make a large purchase like buying a car, house or business, you would need to save up all of the money.

After all no bank account means that you have absolutely no credit history.

To many people in developed countries it may sound like a highly unlikely scenario.

But in fact it’s exactly how 2.5 billion people live today.

Being “Unbanked” is incredibly common. In Africa it is estimated that up to 80% of people have never have had a bank account.

Not only is this problem of people being unbanked extremely trying for those it effects, it is also detrimental to the overall economy.

Having to save capital to make large purchases is highly inefficient. Imagine a local neighbourhood where people need basic businesses like a grocery, hardware store, auto mechanic or a clinic.

People in that community are unable to setup those businesses because they don’t have the capital to get started.

The problem is typically not one of sheer poverty. Most of those effected are either blue or white collar workers. They have employment earning between $200 – $500 per year.

The issue is a lack of credit history.

MicroMoney is a new blockchain startup which has a solution to these problems.

The technology is already being used every single day with over 95,000 people already registered on the platform.

Applying for credit is super simple. Using a smartphone app applicants can apply for a loan in a few simple steps. The process only takes about fifteen seconds to be approved.

Most importantly applicants don’t need to have any credit history.

MicroMoney instead uses an extremely rich source of data – the applicants smartphone.

Even in countries where people don’t have bank accounts, most have smartphones.

Leveraging this fact MicroMoney uses ten thousand different parameters and then an AI Neural Network to quickly evaluate the credit worthiness of the applicant.

MicroMoney from micromoney on Vimeo.

MicroMoney ICO

Token symbol: AMM
Total token supply: 60,000,000
Planned raise: $15,000,000
Hardcap for ICO: $30,000,000
Token type: ERC20
Initial price: 1AMM = 1USD
Token sale link: https://www.micromoney.io/

How The AMM Token Works With MicroMoney

The AMM Token is an essential part of the MicroMoney network. Firstly, people who want to borrow money can place their AMM tokens as collateral. This will help to reduce the interest rates that they need to pay. If they default on the loan then the AMM tokens are returned to the network. This helps to reduce the risk of defaults on loans.

People who repay their loans on time will be rewarded with AMM tokens. What’s more people in the network can choose to vouch for other borrowers. If that person they vouched for repays the loan, then both the voucher and the borrower are rewarded with AMM tokens.

This creates a positive cycle because people who repay their loans on time will earn more AMM tokens. In turn they will be able to use these AMM tokens as collateral and reduce the interest rate they pay. Over time good borrowers are rewarded for paying on time.

Going Forward

MicroMoney has set themselves some pretty big goals for the platform.

By 2020 they want to have raised the entire capitalisation of the company to $1 billion.

That is certainly ambitious. But, when you consider the number of people who are currently unbanked it doesn’t see unreasonable.

Crypto investor who want to do good and do well at the same time may want to join them for the journey.

Website: https://www.micromoney.io/
Whitepaper: https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf