PayPro ICO overview
PayPro is a decentralized bank made for dealing with a new eco-system where value is represented in new forms thanks to Smart Contracts.
PayPro will be a financial marketplace where any Decentralized Application (dApp) will be able to offer its services. Thus, dApps will be competing to become your supplier, not the other way around as is customary with banks.
In order to accomplish this goal, we are building a universal wallet that will be capable of storing the most popular crypto-currencies and any ERC-20 token.
The main problem with traditional banks, as shown during the world recession on 2007-08, is that due to the fact that they hold all the information, users can not take objetive decisions. For this reason, it is commonly said that the centre of the relationship with banks is not the client but the bank itself.
Whereas it is true that there is an increasing number of so-called neo-banks, either built on blockchain or over APIs, they still have not managed to avoid the main problem with banks; centralization of services. Any form of centralization will always diminish the services offered as the supplier will always have more information than the market.
Therefore, we have created a financial marketplace where any dApp can offer its financial services and any user can both use them and rate them. This rating system will be the master piece as it will provide with:
Transparency: every user will be encouraged to rate a dApp after using it. This way the user will contribute to offer a rating so any other user willing to use the dApp will know whether it complies with his expectations or not. Loyalty: users will be rewarded for rating dApps. Enhanced competition: suppliers contributing to the marketplace by offering their services can generate a second source of income thanks to our rating system. This way we aim at getting on board the more dApps as possible; the more dApps in the marketplace, the more competition, which will ultimately force suppliers to struggle on the quality of their services. Improved services: the system is made so ratings go down through time and hence, dApps are forced to keep high ratings at all times.
Our application heavily relies on tokenization and hence, we have created two tokens; PIP and zPIP. Whereas PIP is the only crypto-currency accepted within the marketplace, zPIP is the unit of value used on our rating system.
Thus, we are launching an Initial Coin Offering for distributing PIP, the only accepted crypto-currency in the marketplace.