Topic: [ANN - Pre-ICO] BlockPay - Zero Cost, digital currency Point-Of-Sale systems - page 23. (Read 44555 times)

And why do you sell coins instead of assets/shares like the OPENPOS shares on bitshares?

You promise the tokenholders that they will share in the revenue stream.

Lets say Blockpay becomes a huge success and you decide to sell the company shares the a new owner/investor. The new owner will not feel obliged to continue your promise to the tokenholders. Especially when there is no legal obligation.

So are you planning to compensate the tokenholders in case the company is sold?
if yes, how will you compensate? I would suggest a percentage of the selling price.

It is important that you make this clear now during the ICO, so we can make a transparent decision on how much to invest/risc

Cheers! 

The one thing I do not like so far is the "2017 2nd ICO" which basically caps the value on tokens at 0.0005

Seems odd to pre-announce a second ICO to begin with, but announcing a price is just strange.

I am hoping it's a misunderstanding of some form, because if ICO phase 1 is at 0.0002x and ICO 2 is at 0.0005 it makes more sense to wait. 2x isn't much to pay for validating a project

Edit: it seems I may have some form of selective reading disorder. The 0.005 price is for last phase of this ICO the way I re-read it.

Disregard my possible stupidity. I need coffee apparently.

How are you so sure that merchant will start accepting crypto? I mean look at the volatility of cryptos. Will they not face loss if suddenly a crypto which they accept start crashing or in other words, we say here dumping.

I doubt about the merchant aspect. Besides, any incentive to merchants for accepting crypto?

We can raise in this Pre-ICO a total value of 1,483.20 BTC. Independent if people use Ethereum or Dash tokens to invest. Market volatility will apply.



Because we just started to integrate into Point-of-Sales systems. SAP, NCS, Erply, Shopify, WoCommerce and much more are next.


Thank you MartiniBlanco for your support. We take this company very seriously and built high-quality products for everybody.

Good question. Very good answer. I'm getting more and more familiar with Blockpay and really like the approach!
Clean and simple to use. Best I've seen so far in this market segment.

Thank You

so wait why is this an ICO?

waiting to social media bounty dev 

how much in BTC planning on raising (Pump)

Yes, it is actually a distinction. Please correct me if I am wrong, Plutus allows you to charge up an NFC card with Bitcoin and pay at every store, however, the merchant has to pay the standard visa and MasterCard fee with Plutus. This makes it easy for Plutus to give its users a tool to spend their crypto at every store, however, it does not solve the merchant problems and their high fees. Plutus is using the MasterCard network after all. It is a win-lose for crypto users and business. The store loses. At the end Plutos charges a 1-4% fee to the user in terms of a Bitcoin price mark up.

BlockPay on the other end is free for merchant and charges a small flat fee of 0.5% to the consumer, but allows them to directly pay the merchant with digital, and the merchant receives digital at zero cost. The merchant does not pay the mastercard fees and has solved fraud, chargebacks, counterfeit etc because he gets real crypto! That is a giant difference. So with BlockPay we have a win win situation for the user, he pays less, and the business, he pays zero.

Really interested in this project; I am an investor of Plutus also. On your earlier post, you said BlockPay does not charge any fees. Was this meant to be a distinction from Plutus or just a feature?

Hi titan20, I see a lot of good questions here. Lets get to the juice details.

1. Yes, the merchant gets a BitEUR, BitUSD etc. which is a Smart contract token on the Graphene Blockchain. They work like the Steem Dollar. So in an example MC Donalds gets 1,000 BitUSD in their Blockchain Wallet, the value is 1:1 to Fiat USD. Now MC Donalds can set up auto settle and send the BitUSD to a Gateway like Kraken, Coinbase, Coinsbank, etc. The funds will be sold automatically and the merchant receives his 1,000 USD - Fiat Gateway fee at his Bank account the next day. (We are talking about a few exchanges about the direct conversion already, an own gateway service is also planned to cut costs and time.)

2.  The Merchant has a couple of options that we want to encourage
a) He converts into Fiat and leaves the Blockchain wonderland
b) He keeps the crypto and pays his salaries to employees
c) He keeps the crypto and pays in supplier in China in a few seconds
d) He keeps the crypto and purchases marketing, consultancy, or other services

You see the power? Where we want to go

Of course, we want to make the conversion from Digital to Fiat as smooth as possible, but on the other side, we want to make the Digital Blockchain world as attractive as possible so that Business keep their funds digital and pay it forward. New Digital Cash.

3. You have to split the fees into different sections.

a) We have a flat fee of 0.5% added as "tax" on each transaction
b) From this turnover, we pay up to 15% sales commission to our BlockPay Ambassadors, for each store a BlockPay Ambassador adds to the Network. We have +50 Ambassadors in +28 countries already. The application is still open.
c) OPENPOS token holders will get 0.5%*50% of all transactions fees generated from an Odoo POS - Terminal. If an Ambassador sales a BlockPay in Odoo system to a store or chain, his commission will apply. The rest of the fees will be added to the general distribution pool.
d) All other fees will be pooled and distributed after all company expenses are covert.
 
e) BlockPay in Odoo is going live Q4 2016, so we don´t have any transaction fees to share yet. However, our early OPENPOS supporters gained a 3-4x ROI with our current buyback. We collected around 25,000 USD last year and buyback OPENPOS with BlockPay tokens in the value of 100,000 USD in phase 1 of our Pre-ICO. This is a special event to thank our early supports because our company would not exist without their support.



We can raise in this Pre-ICO a total value of 1,483.20 BTC. Independent if people use Ethereum or Dash tokens to invest. Market volatility will apply.


Hi Roncar,

thank you for your reminder. I get a lot of translations request lately. Please make sure you have your language in the title too so that I know if your language is already covered. I will come back you asap. Thank you.

Following this thread.

Hello dev.. still waiting for your reply about translation.. you said to pm you and i already did, however still havent received your reply for almost a week now.

Translation payment received!

THX dev, keep doing this good work!

So how much in Bitcoins are you guys planning on raising?

In your video you say the shopowner receives a digital version of a euro or dollar. They have to sell this digital version of a euro to get real euro's.
1. So how does this work? Trough what system/platform/blockchain?
2. Can the shopowner skip this process, so that it automatically gets out of the digital version and receives the fiat euros in his bankaccount?

Another question i have is the following:  you say the payout to blockpaytokenholders will be (up to) 15%. The OPENPOS tokenholders are receiving 50%.
3. How much did you guys pay out until now to the OPENPOS tokenholders and is it possible to see this in a bitshares explorer (Just to get a feeling about how much the rate of return on investment was for the OPENPOS tokenholders)?

The Blockpaytokens have no function in your platform. There is nothing legally binding for your company to pay out anything to tokenholders. So the tokenholders have a weak legal position. You have a promising project. And i want to invest in it. Although nothing is legally binding, i think it is important that you announce what the percentage is that tokenholders will be receiving, so that there is some kind of agreement between tokeninvestors and company.

Cheers!

 

We did a short Q&A for the upcoming Pre-ICO, answering some of the burning questions and showing our faces

Yes, the Shopowner can decide which currency to receive. A Shop in Europe, can get Euro but also USD or Bitcoin if they choose so. We are planning to provide a broad spectrum of currencies, including digital assets like Digix Gold etc. I hope we have the right currency for each merchant.

Can shopowners choose what currency to receive? For example: Customers pays in bitcoin, Shopkeeper receives Euro's.