SGPay is a platform that combines virtual and fiat currencies into a seamless wallet experience
There are many things you can do with the SGPay platform like paying for your groceries, buying movie tickets, ordering flights and more with SGPay. You can also choose payment options either in currency or cryptocurrency in selected merchants and incentives such as low transaction costs when buying or selling crypto on the SGPay platform.
SGPay's main platform is a third-generation mobile e-wallet and e-payment application that lets users buy and sell cryptography, or make purchases using cryptocurrency and fiat currencies. Our 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 can also choose their preferred payment mode, either in currency or cryptocurrency at selected merchants.
Singapore has quickly emerged as 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, dominate and create a unique selling proposition (USP) in order for our project to succeed based on the current environment.
The company intends to raise 4.8 million dollars at the expense of the initial offering of coins (ICO) for token SGPay, which will be held in February. SGPay is an ambitious project, intended to launch digital wallet “all in one” by June 2018. This is, admittedly, one of the most exciting new projects in Southeast Asia, which will be released this year.
The thing that pushed SGPay into '3rd generation' e-wallet and e-payment is caused by 3 factors:
- 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.
Earn. Spend. Play.
Purchase Bitcoin, make e-payments, rent a bike, buy movie tickets and shop online. All in a single app. :
- Ease Of Use
Buy, sell and manage your cryptocurrencies on-the-go. SGPay provides 24/7 real-time portfolio tracking on mobile.
- Payments Ecosystem
Make payments using fiat currencies as well as cryptocurrencies at participating merchant outlets.
- Greater Diversity
SGPay supports more cryptocurrencies than other local e-wallets. This allows you to diversify your portfolio and reduce risk.
- Integrated Rewards System
Earn reward points while shopping on our partner online mall. No gimmicks, expiry dates and lengthy T&Cs.
ROADMAP
The development of SGPay system is already in progress. Following is an overview of the project planning breakup. With its expected completion by May 2018, we are planning to launch the initial version of the system by Jul 2018.
Token Allocation
To date, a six figure sum has been spent on developmental & operational costs. Proceeds from the token event will be used to expand our operational capabilities over the next 5 years.
Target Proceeds : US$4,800,000 (S$6,420,000)
Developmental Costs : US$2,000,000 (S$2,675,000) to upgrade and enhance SGPay security & feature set.
Marketing Costs : US$1,400,000 (S$1,872,500) for marketing and promoting SGPay to the general public.
Operational Costs : US$1,400,000 (S$1,872,500) for licenses, salaries, rental and other miscellaneous costs.
Thinking Long Term
We aim to generate capital through our revenue streams. This includes cryptocurrency transaction fees, partnerships and licensing revenue.
SGpay system
The development of SGPay system is already in progress. Following is an overview of the project planning breakup. With its expected completion by May 2018, we are planning to launch the initial version of the system by Jul 2018.
Phase I (2H 2017) – Prototype Stage
• Prototyping different various user interfaces
• Optimizing the best user experience for our application
• Coding the wireframe for our platform
• Seeking of various liquidity partners for our platform
• Defining prototype functionality
• Establish prototype objectives
Goal: To create a seamless, secure, yet expansive prototype that has the ability to add
much more functionality into the platform in future
Phase 2 (1H 2018) – Launch of Beta + Initial Release Version
• Evaluate and refine prototype
• Debugging and user-experience testing
• Full systems development initiated
• Full e-wallet functionality and support for 3 currencies
• ‘Incentive’ algorithm based on SGPay Token built-in
Goal: Launch of a bug-free, excellent mobile application with e-wallet functionality
built-in together with sufficient liquidity and transaction rewards based on the amount
of SGPay Tokens being held by each customer
Phase 3 (2H 2018) – Addition of Payments functionality
• Launch of e-payments functionality
• Support for debit/credit cards
• Potential support for more locally developed tokens
• Intensive Adoption Drive
• Lay groundwork for creation of APIs for partner services
Goal: Addition of e-payments functionality such that the platform can reach out to a
the much bigger pool of people and to expedite the growth of our user base
Phase 4 (1H 2019) – Partner Services API
• To partner with various technology providers to enhance the use cases of our
product
• This will include insurance company tie-ups, mobile company tie-ups and
partnerships with other big firms in other sectors
• This will open up whole new users to our wallet application and make it a truly
all-in-one platform
Token sale:
Token Name : SGPay Token (SGP)
Total Supply : Up to 13.8 million
Total Public Supply : Up to 10 million
Pre-Contribution Period : 1 Feb to 14 Feb 2018
Pre-Contribution Supply : 2 million tokens @ US $ 0.40 each
Main Contribution Period : 1 Mar to 31 Mar 2018
Main Contribution Supply : 8 million tokens @ US$ 0.50 each
Soft Cap : US$0.8 million or 735 Ether
Implied Market Cap : Up to US$4.8 million
Minimum Contribution : 0.1 ETH
Maximum Contribution : 50 ETH
Accepted Currencies : Ether (ETH)
KYC/Whitelisting : Yes
For details info :
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/
By:wily27
Profile bitcointalk:https://bitcointalk.org/index.php?action=profile;u=1816724
ETH:
0x31F5A81e9a6C8295423bDBDCC572a48c247BaE2F
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