Festy

Festy

Created using Figma
Created using Figma
The Festy ICO is a contactless payment system that integrates IoT and block chain technology to benefit event organizers, merchants and consumers around the world. By eliminating intermediaries using block chain technology, Festy provides a safe, data driven POS system by the seller. Festivities offer consumers a convenient way to pay for contactless cards and wristbands, ticketing, identification and medical emergency information. In the festival, consumers can leave their wallets at home.
ICO
Oct 29, 2018
Nov 28, 2018
0% completed
Raised funds - no Data
upcoming
  • 25000 FESTY
    =
    1 ETH
Token Details
Accepted Currencies
ETH, BTC, ETC
Company Details
Registered Country
Ireland
Additional Details
Categories
Platform

About Festy

Festy is the future of payments and events. By eliminating middlemen using blockchain technology, Festy offers merchants a more secure and data driven Point of Sale system. Festy provides consumers a convenient way to store payments, ticketing, identity and medical emergency information on contactless cards and wristbands. With Festy consumers can leave their wallet at home. “Providing the consumer with a truly frictionless experience is the holy grail for the payments industry. This has already been achieved in-app with platforms such as Uber, but has yet to be translated in-store,” Festy is a contactless payment and verification system that unites IoT and blockchain technology to benefit event organisers, merchants and consumers worldwide. The steady rise of music and culinary festivals taking place has presented undesirable cash flow and security implications. Festy can be the rescue remedy to these drawbacks. This solution is made possible by the ever growing use of smart devices and the advent of cryptocurrency. Smart device ownership has expanded to 4.5 billion users worldwide and is forecasted to grow even higher in the near future. This trend has brought a significant level of technological convenience that vendors are integrating into their transaction process. Companies such as Samsung and Apple have introduced payment methods onto phones and wearables for consumers while vendors are utilising tablets as point of sale systems. These inventions, while innovative in design, are tied to middlemen services which prevents transactional analytics and comes with added fees. The most well known cryptocurrency is Bitcoin as it is marked at the highest value and has appeared in mainstream media on multiple occasions. However, due to technical aspects such as network scalability and transaction time, spending Bitcoin is not suitable for quick everyday purchases. Festy gives users flexibility over what crypto or fiat currency they would like to use, thus maintaining low transaction and exchange fees. Merchants select what currencies they wish to accept and get paid in. Merchants accepting Festy will set their own terms over chargebacks and there are potentially enormous savings to be made compared to the crippling fees from existing payment solutions. Users top-up their Festy “wallet” with cash, card or crypto using the Festy Pay app. Consumers and merchants can withdraw to cash using a Festy ATM at any time. In Ireland alone, with a population of 4.4 million, there are upwards of three million VISA contactless payments (around 188 million transactions worldwide) per week. As an incentive to increase consumer adoption, there was no fee for the launch of VISA contactless payments which changed in 2017. There are currently 20,000 merchants accepting contactless payments in Ireland and this number is continuously growing. The convenience has shown increases in sales volume by upwards of 10%. This presents a valuable use case example that novel technology can quickly become adopted by the mainstream. Blockchain brings this innovation to the fore in terms of technology, privacy and security. Unlike Visa and other financial companies, Festy does not store consumer data. With zero-knowledge proof people own their own data and they can choose to opt-in. In the current social, political and economic climate this is a huge selling point as this protects the consumer against “surgical taxation” that imposes a tax on people for poor lifestyle choices. With Festy people will always benefit from the very basis of sharing their data. Data is valuable but this profit does not currently trickle down to the consumer. Festy aims to empower and protect people. 

Festy Roadmap

  • July 2016

  • Concept design.
    Research & Development with UK welfare charity.
  • January 2017

  • Hardware design.
  • April 2017

  • Software design.
  • July 2017

  • Initial demo & soft launch.
  • Read More
  • September 2017

  • Electric Picnic demo.
  • November 2017

  • Ethereum Devcon 3 partnership and smart ticketing MVP.
  • February 2018

  • Point of Sale and Consumer android app launch at SXSW.
  • March 2018

  • Woodford music venue demo.
  • July 2018

  • Platform demo at Korea Blockchain Week.
  • August 2018

  • Token Pre-Sale.
  • November 2018

  • Initial Token Offering.
  • December 2018

  • Product Production.
  • January 2019

  • POS Integrations in 7,000 retailers.
  • April 2019

  • Platform Release.

Activity

Posts:
19
VERY LOW
Followers:
112
VERY LOW
Likes:
108
VERY LOW
Followers:
313
VERY LOW
Tweets:
275
MEDIUM
Members:
36
VERY LOW
Alexa
Rank:
3 068 621
VERY LOW
Delta:
-12 787 219

Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Event Co-ordinator
unverified
Sales & Marketing
unverified

Last News

N/A
5.0 17
ICO Profile Vision Activity Potential Product Team
  • Because there may be time differences in information updates, accurate information about each ICO project should be verified through its official website or other communication channels.
  • This information is not a suggestion or advice on investing in ICO funding. Please thoroughly investigate the relevant information yourself and decide on ICO participation.
  • If you think there are issues or problems to be corrected on this content, or if you would like to submit your own ICO project to be listed, Please email us.
Please read the disclaimer and risk warning. Show disclaimer and risk warning.