PointPay.io CRYPTO BANKING ECOSYSTEM

DEWI08

The crypto-industry ecosystem is developing by leaps and bounds. It’s becoming more attractive not only for investors who view the cryptomarket as a way to get maximum profit in the shortest possible time, but also for ordinary users who value cryptocurrencies for their fast transaction functionality, anonymous calculations and absence of any kind of intermediaries.

Cryptocurrency platform PointPay notes that many people like the idea of “finance without borders”. That is why the number of people actively using cryptocurrencies is steadily growing and approaching the psychological mark of 50 million people. Cryptocurrencies’ number growth dynamics is also rapid. If in 2010 the number of cryptocurrencies could be counted on the fingers of one hand, then in 2018 their number exceeded 2000 and has greater chances of reaching 2500 by the end of the year.1 It’s noteworthy that the exchange is a kind of virtual bridge connecting blockchains of different cryptocurrencies and providing a platform for buying and selling them. But at the same time, the number of crypto exchanges, the daily trading volume of which exceeds US $1,000, is much less - just about 200.2

This fact is quite explainable: in contrast to the meager funds required to issue an own token or coin based on a smart contract – the cost of creating a crypto exchange varies from tens to hundreds of thousands of euros. It’s costly – so, not every crypto entrepreneur can afford to pay this amount of money.

Moreover, crypto exchanges serve themselves as an ideal target for hackers – attackers have managed to steal a total of more than one billion dollars.3 The question of which crypto exchange to use in order to keep funds or trade remains open. No one gives a 100% guarantee of safety of funds. Security is one of the key points of traders’ concern. In addition, crypto-community calls to make exchanges the core of a cryptocurrency ecosystem with enhanced user functionality.

People ask to integrate not only traditional dual-currency pairs with exchange rate charts, but also other state-of-the-art tools, on which the movement of funds would be tied. That would automatically solve the issue of deficit liquidity. Such a need has long been overdue in a crypto community. It will undoubtedly appreciate the team of innovators, who will not only offer a safe platform for trading and storing cryptocurrencies, but also develop the functionality to invest in crypto banks specially created for this.

The Solution to the "Crypto Assets Depreciation" Problem

The PointPay cryptocurrency platform team formulated its proposals on how to solve this problem and outlined 3 consecutive steps. On the one hand, these proposals will allow traders and holders to gain access to the extended user functionality and make the funds aimlessly stored on the crypto wallets work. On the other hand, the project will be given the opportunity to grow from the traditional, conforming to today's tough security requirements, the exchange to the cryptocurrency analogue of PayPal, which can rightly be called a crypto bank of the 21st century –

PointPay Crypto Bank. So:

1. Issue of 500,000,000 PXP tokens based on the ERC-20 smart contract;

2. Creation of a platform with the ability to purchase tokens, sales revenue of which will be allocated for development of products;

3. Building of a closed-loop ecosystem consisting from the PointPay Crypto Bank, PointPay Crypto Exchange platform and PointPay Multi-currency Wallet.

Calculation functionality of these products will be tied to PointPay tokens to make a valuable payment unit from them. This will be simultaneously implementing both with obtaining licenses from financial regulators, and developing functional for a daily cryptoback accrual to PXP token holders. Hence, it will be a significant technological aid for building the PointPay Crypto Bank.

Disadvantages of Existing Crypto Banks.

Why is the PointPay Crypto Bank the best? Cryptocurrency and blockchain ecosystem is rapidly gaining popularity among users all over the world. While there are many separate platforms on the market allowing buying, trading, selling and managing cryptocurrencies, there is definitely a void in terms of having a platform with “All-in-one” approach. As seen from the comparative analysis table below, the major market players are heavily focused on providing a limited array of services and there is a definite lack of a user-friendly “all inclusive” platform.

PointPay Crypto Bank (“PPCB”) will be a part of the “All-in-one” utility token-based blockchain ecosystem, provide cryptobanking services one would find readily available in fiat currencies. We are building PPCB to breach the gap between the convenience of cryptocurrencies and functionality of a traditional bank. PPCB will be filling this underserved niche by offering everyday users a full spectrum of banking services. The goal is to build a convenient, intuitive online banking platform, so even a non-technical user can benefit from all the services PPCB has to offer without the complications, currently associated with the blockchain technology.

Benefits of PointPay Crypto Bank over Conventional Banking

Research by Deutsche Bank shows that the number of cash payments worldwide is steadily declining, while the 4 percentage of non-cash payments is constantly increasing – electronic money is gradually replacing paper money, and no one will be able to stop this process: for example, in the US, as of 2015, only slightly more than 20% of consumer payments were made in cash, and in Sweden, according to 2016 data – less than 10%: in this Scandinavian country, the sign ‘’we do not accept cash’’ has become normal.

But progress does not stand still: payment cards are being replaced 5 by mobile applications installed in smart phones, and good old fiat money gives way to cryptocurrencies. The latter is due to a combination of various factors, including the natural human desire not to feel ‘’closely watched’’, to preserve at least partly the anonymity of their financial transactions: de jure, it is a constitutional right of every citizen, de facto the case is different.

The dizzying growth of the bitcoin exchange rate was one of the reasons for the cryptocurrency boom in 2017. Ironically, it is because of this that the share of bitcoin in the total market capitalization has rapidly decreased – from more than 80% in June 2016 to less than 40% in December 2017: hundreds of new coins and tokens appeared, and some of them managed to win a place under the sun.

This being said, using the same bitcoin's case a curious fact can be stated: the number of transactions with its use is constantly growing and in 2017 exceeded 100 million, but at the same time, this very impressive figure is still very far behind the indicators of fiat payment systems (PayPal – about 6 billion transactions, direct bank payments just in Germany – more than 10 billion, VISA – 141 billion according to 2016).

This leads to the logical conclusion: the crypto-currency market has a huge, almost inexhaustible potential for further growth, and the project that will be the first to be able to offer its customers a "turnkey" working system that provides not only standard opportunities typical for the usual fiat Internet banking, but also significantly expanding their list, will certainly be ‘’on the crest of the wave’’ and will interest potential investors with a combination of prospects for obtaining considerable income in a relatively short time with the obvious reliability and durability of its business model.

This is confirmed, among other things, by the amount of levies of those token sale projects that tried to set themselves similar 6 tasks: Cryptopay – 51 million dollars, Crypterium – 18 million, ChangeBank – 17.5. Though, none of these projects is a cryptobank in the full sense of the word: services such as depositing and transferring money from one's account to another, traditionally provided by the banking sector, have not yet been brought to the implementation stage.

Not far off is the moment when any cryptocurrency asset will become a universal means of payment, which will be able to pay for anything – from a cup of coffee to a new apartment. Those who bring this moment closer, already today realizing what others will only think about tomorrow, will undoubtedly benefit.

Trading Patented Assets with PointPayPlatform Crypto Exchange

The PointPay team believes that the investment process must be more democratic and accessible

for most people who want to increase their funds.

Investors who have cryptocurrency in their asset portfolios do not have the opportunity to trade on the world financial market by investing in conventional asset classes. They are - shares of world-renowned companies (Apple, Microsoft, Tesla), index funds (S & P 500, Nasdaq 100), ETF funds (Select Sector Financial SPDR Funds, Invesco QQQ, VanEck Vector Gold Miners ETFs), raw materials (gas, gold , crude oil, etc.

Therefore, PointPay issues several thousand tokens of a special type that will suit one or other types of traditional assets. Trading these assets will occur in the same way as trading crypto currencies at each exchange:

A trader comes to the exchange with fiat funds and cryptocurrency;
Traders buy tokenized assets that are traded on the Cryptocoin PointPay platform (transactions can occur not only at the expense of their own funds in the account balance, but also use leverage in ratios 1 to 10);
PointPay buys asset classes chosen by traders at Capital.com;
Traders sell token assets that are in balance, or store them until the price rises;
Traders withdraw money obtained from their account in Cryptobank.

So, this looks like the following:

Note PointPay Security for Bitcoin and Ethereum

At present, laws in many countries are still formulating provisions regarding legal status

cryptocurrency. In this case, it is very important for the crypto industry to be within the legal framework - only a complete legislative settlement can attract a large number of institutional investors to the industry.

PointPay plans to issue bank securities, or securities, for the most popular crypto assets - such as, for example, the Security of Bitcoin PointPay or Ethereum PointPay Security. It will be possible to display assets on balance bank accounts not only at PointPay Crypto Bank, but also in other banks throughout the world.