Introduction
Where did you buy this dress? Online Shopping, but how did you pay for it? Mobile. Our mobile phones have become our lifesaver in many of the tough situations of our lives. Earlier, we could not imagine something like it. But, today we cannot imagine anything without it. From clicking pictures to making payment, we have got everything on the mobile. The explosive rise in the mobile adoption has largely been in the south Asian countries. You would find each and every one carrying at least a mobile. The growth of mobile is attributed to many factors in the market. Cheap and affordable mobile set are filling the market as more companies are jumping on the mobile phone market.
People are adapting to the latest technology having the latest features. Another technology which is gripping the interest of the people is cryptocurrency. Introduced only a few years back, it has been able to create euphoria in the market. Generating varied sentiments from different quarters, it has managed to grab everyone's attention. The core philosophy of the cryptocurrency has found many supporters in the market, who are continuously pouring money and effort into it. We have seen the reaction from different government and private agencies, who are yet not ready to embrace the change in the market. A balanced and useful application is required to merge both these technologies which are continuously bringing innovative changes in the world.
SOLUTION OFFERED
SG PAY is a company based out of Singapore offering us best of both the technology. It offers mobile payment facility for the cryptocurrencies as well as fiat currencies. Managing your cryptocurrency portfolio becomes much easier on the platform as it gives 24/7 capability on its app to monitor your portfolio. Besides all these features, you can earn rewards by spending on the selected merchants and partner sites.
So, basically, it provides you with three main services, a secure and diverse wallet, a payment mechanism using your cryptocurrency or fiat currency and other integrated services. Pay bills, rent bikes or get foods only on the platform using your cryptocurrency.
ICO INFORMATION AND TEAM
They are bringing the platform to the people for support and development funds. A total of 13.8 million SGP Tokens are created in which 10 million are reserved for the public. The ICO will start from 1st March 2018 until 31st March 2018.
The funds collected will be utilised in the development, marketing and operation of the platform. The team working on the platform believes in the power of blockchain technology. They have years of experience in the platform development, startup, business and technology.
Conclusion
E payment has been on the exploding growth in the south-east Asian countries as the mobile penetration rate has been increasing. Providing an easy and affordable solution to the millions of the customers will help the platform scale in the competitive market of mobile payment. The market for the mobile payment has become much bigger than anticipated as many big technology companies have decided to enter the market. Google Launched its Mobile Payment App named Google Tez while Whatsapp has launched its Payment technology in the limited models.
It remains to be seen the future growth in the mobile payment market and how this shapes up the future of the electronic payment. The selection of Singapore by the team is an ideal choice since it has already established itself as one of the most advanced country adopting the latest technology. I think that the application is entering into a competitive market of mobile payment with the unique addition of the Cryptocurrency spending.
To know more visit:
Website : https://www.sgpay.org/
Whitepaper : https://www.sgpay.org/sgpay-whitepaper-final.pdf
Published By: Kishan748
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1027561