SGPAY

SGPAY

The e-Payments industry is very promising for companies that are able to implement it solidly in the market. Cue assessment case for MC Payments - recently acquired for US $ 59 million (US $ 80 million) This sector promises a lot because the next milestone for the industry is the third-generation wallet platform that hosts payments, cryptographic transactions and service integration.

Singapore itself is "the right material" to be the Smart Nation, but lags behind other cities in certain areas such as electronic payments, Prime Minister Lee Hsien Loong said. The above statement highlights the country's integrated push for e-payment that opens up more opportunities for new payment platforms to flourish. Payment systems that integrate technology and new trends such as crypto have a much greater opportunity to offer a unique proposition for today's market. Even 2 or 3 market players in the industry will still generate interest / profits from potential buyers and collaborators. This is due to the current backward payment industry.

Singapore is rapidly becoming the preferred crypto center. Fintech-friendly status, government grants and accommodative establishment of Initial Coin Offerings (ICO) have made it a favorite for fintech companies coming to Singapore. MAS also takes an accommodative approach where compliance and security regulations apply when considering specific rules for future implementation. The crypto community in Singapore is also quite active and this leads to a growing market for service providers associated with blockchain technology. However, the market is immature and many service providers also concentrate on overseas markets (similar to e-payment payments). There is an opportunity to normalize,

SGPay emerged as a ' third generation' e-wallet and e-payment with the goal of building unique unique selling propositions (USP) through integrated services and through partnerships with technology innovators and traditional companies. SGPay is also exploring possible partnerships with at least one local bank. The SGPay developers themselves believe that traditional money still has a place next to cryptocurrencies and partnerships will give more value to consumers in general. The integration of traditional sectors of the insurance industry, general retail, transportation, travel and leisure on the SGPay platform will generate more support and potential revenue than the outdated payment model. This brings SGPay to the relative valuation of blockchain projects in Singapore.

The thing that pushed SGPay into '3rd generation' e-wallet and e-payment is caused by 3 factors:

• The government's push towards electronic payments and the 'non-cash' community will provide the public infrastructure and much-needed support to the SGPay platform
• The absence of a current payment platform that matches or approaches the success of AliPay in China and PayTM in India
• MAS's regulatory approach to cryptocurrencies in Singapore that will assist in general acceptance and adoption of implementation on the SGPay platform

SGPay aims to put SGPay in the hands of everyone and it can play well from the consumer to the merchant's corner. Because all traders are consumers by the way but not all consumers are merchants, we believe it's important to drive customer integration beyond just merchant integration.

The solutions offered by SGPay and its tokens are:

1. 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. SGPay will allow its users to make transactions using its token, and to pay for value-added services on the platform.
2. The addition of SGPay to the payment ecosystem also gives users greater choice and diversity for payments in Singapore and Asia. There is a lower possibility of one e-wallet that gains monopoly power and imposes unfavorable requirements for the user.
3. SGPay will advocate the use of cryptocurrency for regional payments. This creates a more familiar environment for users who already feel comfortable with e-payment applications. Now crypto is promoted and supported on popular payment apps, its use will increase by itself.

SGPAY TOKEN

SGPay Token is an ERC20 compatible token on the Ethereum blockchain. It is promoted and used on SGPay, related business platforms and partner merchant outlets. Token holders enjoy various incentives such as lower transaction costs when buying or selling crypto on the SGPay platform.

Why blockchain Ethereum? SGPay chose to build SGP in Ethereal blockchain because it brought benefits such as decentralization, security, transparency and lower transaction costs. It is also the preferred blockchain network of many large companies like Microsoft and UBS that are part of the Enterprise Ethereum Alliance.

Why choose Singapore? 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 electronic payments that will increase investment and acquisition opportunities in the sector.

After establishing our presence in Singapore, we will move to the nearest foreign markets such as Malaysia and Indonesia. Indonesia is the 4th most populous country in the world and the Southeast Asian region is poised to see tremendous growth. E-commerce and e-payment are also growing at an increasing rate in the region, a great opportunity for FinTech companies. To further encourage the adoption of SGPay, we will also create additional business platforms to support the use of our tokens. These include SGRewards that will bind with our SGPay platform to offer monetized reward points and SGFund that will help support the expansion of small and medium business financially (SMEs).

Goal of SGpay Token? SGPay's goal is to make SGPay a leading e-wallet and e-payment mobile application for everyone living in Singapore and the region. Customers will be able to pay for their purchases, buy movie tickets, book flights and more with SGPay. They will also be able to choose their preferred mode of payment, either in fiat currency or cryptocurrency at selected merchants.

• Token Name: SGPay Token [SGP]
• Number of Supply: Up to 13.8 million
• Total Supply: Up to 10 million
• Pre-Contribution Period: 1 February - 14 February 2018
• Supply Pre-Contribution: 2 million tokens @ US $ 0.40 each
• Main-Contribution Period: 1 March - 31 March 2018
• Main Contribution Offer: 8 million tokens @ US $ 0.50 each
• Soft Cap: US $ 0.8 million
• Implied Market Cap: Up to US $ 4.8 million
• Minimum Contribution: 1 ETH
• Maximum Contribution: 100 ETH
• Currency received: Ether (ETH)
• KYC / Whitelisting: Yes

LINKS IMPORTANT INFORMATION ABOUT SGPAY

• Whitepaper: https://www.sgpay.org/sgpay-whitepaper-final.pdf
• BitcoinTalk Thread: https://bitcointalk.org/index.php?topic=2804879.0
• Website: https://www.sgpay.org/
• Twitter: http://www.twitter.com/sgpaytoken
• Telegram: http://t.me/sgpay/
• Facebook: https://www.facebook.com/sgpaytoken/

Author by rawon ayam

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