TokenPay-The Global Cryptocurrency Platform

TokenPay - While the use of cryptocurrency is sharply rising there clearly exists a critical problem with mass adoption. It is a victim of its success. While cryptocurrency is essentially designed to be the catalyst for democratizing money, the production, supply, and use of it is highly fragmented. There is no central government or bank control. Therefore, the currency cannot be inflated or deflated.

Typical fiat money supply can be largely manipulated without any consultation. There is a seemingly unlimited proliferation of digital coins. As well, relatively lax regulations and the obscure nature of some digital coin issuers is driving extreme pricing unpredictability.

The greed of early-stage investors has also contributed to this volatility. For instance, since the inception of cryptocurrency exchanges coin values have been erratic. These sudden price spikes and drops can cause havoc on regular money services. All of this affects the ability of a coin to be properly utilized for remittance, currency conversion and at ATMs. When a cryptocurrency holder requires fiat to fund meaningful financial activity, they are faced with exorbitant fees. Additionally, a hostile bank client onboarding and compliance
process remains challenging. Despite what the promoters say, there is no reliable way to use cryptocurrency. For example, Bitcoin ATMs can charge up to 15% just to convert to fiat currency. This defeats the original purpose of cryptocurrencies, which was to offer a cheaper and more flexible alternative toother payment methods. With no advantage over government-printed money,why would an ordinary person use it?

Reversing the paradigm, banks must operate in a compliant and consumer protective mode that is driven by massive regulatory oversight and fiduciary status. A customer is not able to simply show up with a cryptocurrency wallet and convert the holdings to a widely usable country issued currency. And the idea of conducting a hard asset transaction for instance with cryptocurrency is
simply not one that any bank in the world is equipped to process.

The problem is that any size transaction with cryptocurrency is immediately flagged as fraudulent. It is nearly impossible to make larger purchases such as a car, house or even school tuition. Issuesrelated to AML, KYC and general regulatory compliance are only a few to consider when accepting and accommodatingsuch a scenario. There is a systemic and reputation risk that must be mitigated. Banks have been known to close the accounts without warning of those transacting in cryptocurrencies.

It seems like every time a new token or coin is being issued into the market there is this flawed assumption that full convertibility and liquidity is guaranteed. This is not only false, but it is completely the opposite of what is the case. Today’s crypto system is beginning to replicate the pre-crisis financial system. That is, banks being able to receive any amount of official liquidity at will. As long as the institution had acceptable assets to pledge at the central bank of course.

For everything else, such as self-created assets, there was the wholesale funding market. Many of these assets were self-valuedat entirely fantastical rates. When the wholesale market froze up, only thecentral bank had the capacity to support it. But there is no central bank to bail out cryptocurrencies. So, consumerism and utility of cryptocurrencies mustlive up to the standards of fiat currency. That is, not on be easy to obtain, but also to be able to create, store, share, use, trade, exchange, transfer and convert seamlessly to fiat. Only then does the cryptocurrency have real-life utility driven by the ability to purchase actual things.

The major question remains. Is there a way around this? Can the cryptocurrency world meet the fiat world? There are Bitcoin debit cards, like Wirex, Xapo, bitwala and more. But this is only half the battle. There still exists critical banking obstacles that prevent the exchange of cryptocurrency to fiat. So, why not reverse the journey, and have the banking world meet the crypto world half way? In a nutshell this is the central premise of TokenPay.

The goal is to create the world’s first bank that truly understands and embraces cryptocurrency activity. This bank will allow customers the ability to convert cryptocurrencies to fiat to enable the purchase of hard assets. This is a bank that will inevitably cater to the crypto community in a vertically integrated fashion; from consumer accounts to merchant processing. It all starts with a banking relationship. This is why TokenPay’s first step is to acquire or strategically partner with a bank.

Customers can store cryptocurrency in insured wallets — as it will be fully backed by a licensed and bonded banking institution. The ability to convert to fiat currency in real-time is conducted on the bank’s private closed-end exchange. Current market data indicates that the majority of transactions are national to cryptocurrencies and vice versa. Traditional banking services are on top. These include a debit card that is in fiat currency tied to the bank.

All of these are ways to proliferate use and adoption of the banking services. Undoubtedly, debit cards are heavily used in the fiat world. A debit card is tied to a bank account based on fiat currency. The debit cards issued by the cryptocurrency driven bank will be tied to a wallet and a virtual card. The private exchange enables seamless and fluid conversions and transactions. The merchant services appeal is that businesses can accept cryptocurrencies. The objective is the creation of a complete end-to-end solution for decentralized payments and banking.

The TPAY digital token is intended to be fully integrated into to the Tor encrypted banking platform and be used as a secure and unbreakable form of exchange for products and services. Ultimately, the expectation is that TokenPay will become the global platform for simplifying and rapidly executing cryptocurrency to intrinsic value capital transactions.

TokenPay Coin Sale is Live

On December 7th, 2017, TokenPay launched its official coin sale at 10AM EST (NYC). Almost immediately, the site received a high influx of users trying to buy TPAY coins using the TokenPay Dashboard (see below).

At the time of writing this article, TokenPay has almost 15,000 registered users and raised almost 100 BTC, in only 48 hours, despite major bitcoin blockchain issues and Coinbase crashing on the same day… incredible!

Additionally, since the start of the sale, TokenPay has delivered another product to their users, the TokenPay Android Mobile Wallet. Seen below, this wallet will allow users to use their TPAY on the go.

TokenPay just continues to deliver and the sale is off to a great start. If you’d like to learn more, visit TokenPay.com. The coin sale ends on Jan. 17th, 2018. But buy early to earn as much as a 100% Bonus on your purchase.

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