About PayPro

The first financial-marketplace as a DAO

Concept

PayPro is a financial marketplace where any Decentralized Application (dApp) will be able to offer its services. Thus, dApps will be competing among them to become your supplier, not the other way around as with banks.

The key feature of PayPro is that it has brought decentralization to a new level; our marketplace is not decentralized only at a technical level but also at a strategic level. This is why we like to call it the UBER of banking.

Problem

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.

Solution

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.

ICO

Our application heavily relies on tokenization and hence, we have created two tokens; PYP and zPYP. Whereas PYP is the only crypto-currency accepted within the marketplace, zPYP is the unit of value used on our rating system.

Thus, we are launching an Initial Coin Offering for distributing PYP, the only accepted crypto-currency in the marketplace.

ICO details:

1 ETH = 500 PYP
Pre-sale starts on 08th January, 2018 and ends on January 15th, 2018. Minimum investment of 15 ETH and 35% bonus.
Main sale starts on 15th January and ends on 04 February, 2018. Minimum investment is 0.5 ETH. 20% bonus on first 24 hours, 15% bonus on first week and 10% bonus on second week.

Our Beginnings

PayPro was born in 2015 as an online tool for making payments in 25 currencies saving up to 90% on hidden bank fees. We got regulated by the Financial Conduct Authority, raised two funding rounds of €750,000 in total and spent a little bit more than a year in the market. We managed to process € 500,000 per month, which is not bad at all compared to the early beginnings of Kantox or Transferwise, for instance.

From that experience, we soon learned that the payments / banking industry was totally outdated. Thus, we soon realized that we had to make a step forward if we wanted offer a truly disruptive value proposition if we wanted to change the industry. This is why we started to listen to the market, talk with industry’s experts and do a lot of test and fail. And this is how we created PayPro: the first decentralized financial-marketplace built.

Today PayPro and their team accumulate 7 awards in entrepreneurship from 4YFN or AEBAN, among others.