What is Paygine?
Paygine is an open financial platform designed to operate within its own proprietary banking structure and designed to serve FinTech and crypto-business needs in areas of money remittance, cryptocurrency exchange, and payment for “real” goods and services under white label solution. Based on the needs of international banks and financial organizations, the founders of Best2Pay decided to create a new platform united by a single IT system with an open API. Paygine’s key competitive advantage over similar projects is that it can leverage off existing Best2Pay services and technologies currently used by FinTech businesses, e-commerce, and beyond. The Paygine platform would offer the following services by utilizing Best2Pay existing technology: – Transferring cryptocurrency to/from a bank card; – Paying in shops and stores using a card in cryptocurrency; – Accepting cryptocurrency as a payment for goods and services at online stores; – Carrying out cross-border transfers of fiat currencies by means of cryptocurrency with minimal costs; – Maintaining wallets in both fiat currencies and cryptocurrencies with the ability to conveniently and quickly convert funds between them.
The Paygine platform would offer the following services by utilizing Best2Pay existing technology:
Currently, the cryptocurrency market is a multibillion dollar business. It is possible to buy and sell cryptocurrency by personal agreement between owners or on the relevant exchange. An example of a country with a progressive approach to cryptocurrencies is Japan, which in 2017 stated that crypto-currency exchange is legal regulated activity. On April 1st of the same year, Japan amended the Payment Services Act to allow “virtual currencies” as a legal form of payment. In September, Financial Services Agency, approved the operation of 11 cryptocurrency exchanges. Today, it is already impossible to ignore the existence of cryptocurrency and blockchain technology, and therefore, certain governments and industry leaders are working on integrating blockchain technology and cryptocurrency in various aspects of their economies.
Clamping down on anti-money laundering and tax evasion are currently major focuses of the banking sector. This has caused banks to classify legitimate operations as dubious without a valid reason, simply because they were associated with the use of cryptocurrency. It is easier for the vast majority of banks to block an account or transaction dealing with cryptocurrency rather than try and understand the essence of the operation. In such cases, the account gets blocked without a practical way of challenging the decision. Challenging a bank for blocking an account can take more than a year without concrete results. We believe that, the solution for this problem is obvious: owning and managing banks that allows clients to store and use cryptocurrencies, while ensuring strict compliance with AML/CFT requirements. We do not want to offer the market something it already has. Simply obtaining a financial license and establishing relationships with existing traditional banks is not a solution! Instead, we would like to build a new system without detaching from the real situation in the FinTech market and the world of cryptocurrencies. We intend to buy two banks in jurisdictions comfortable for working with cryptocurrencies: one bank in Europe (presumably Switzerland), and another in the Caribbean. This will allow us to ensure the stable operation of our Paygine financial platform around the world.
Project Team:
Token Details:
The PGC token will be the basic functional tool on the Paygine platform and can be purchased through the ICO sale or on an exchange following the ICO. The Paygine platform will provide services to entities only according to a determined value to be calculated by the platform by pegging the minimal rate of 1 PGC=1 USD and maximum exchange rate determined by market price of the token. In addition to that exchange rule, in case of token usage to pay for platform services, payer will receive discount from 10 to 30% (depends on serice type).
Token PGC
Price 1 PGC = 1 USD
Bonus Available
Platform Ethereum
Accepting BTC, ETH, Fiat
Soft cap 3000000 USD
Hard cap 30,000,000 USD
Country USA
Whitelist/KYC KYC
Restricted areas China, South Korea
Verdict:
All services of the Paygine platform will be provided to clients through unified Application Programming Interface. It is important to note that we will not provide services directly to individuals. Instead, we will work with FinTech companies, internet shops and financial service providers, as well as aggregator sites, and they in turn will provide services to their customers — individuals and businesses — thereby creating a completely new ecosystem around the platform. Paygine does not aim to develop an electronic wallet, a crypto-wallet, bank cards, transfers under own brand. These products would be built by our customers under their own brands, and private individuals and businesses will be able to choose services from among Paygine’s clients.
Important links:-
Website: https://paygine.com
Whitepaper: https://paygine.com/assets/helpers/files/en.pdf
Telegram Group: https://t.me/paygine_official
Twitter: https://twitter.com/paygine
Facebook: https://www.facebook.com/paygine/
ANN: https://bitcointalk.org/index.php?topic=2916009
Bounty: https://bitcointalk.org/index.php?topic=4147203
