Topic: [ANN][ParkByte][PKB][Electrum] Pure POS - page 27. (Read 109896 times)

Very excited about this project, but very hard to get a position in PKB. I wish I knew about it when it went ICO 
Any more news?  Are the developers still developing?  Is the CEO still hard at it making deals?  How many main people in this project (including developers and sales guys)?

I see detailed market analysis as progress. It takes time though, especially waiting for FOIA requests to come through.

The salesperson in me is screaming "you have enough financial info to put together a sales package! get out there!"

But I recognize that there's so much fragmentation of process in the industry due to back-scratching deals made decades ago and no real modernized procedure. There's been no incentive. As long as everyone's making their money, and keeping their geographical monopoly, maybe taking the City of London parking code overseer out to nice lunches every so often, there's very little to shake things up.

If my assessment is close to right (Allen's the final word on that), then a no-brainer analysis of PKB system saving every single one of these arrangements 70-80% on fees, no matter the uniqueness or complexity of the arrangement, will create a domino effect across all of these agreements as soon as one signs on.

There isn't really any update to progress at the moment, I would say this project has moved into a detailed analysis of the market phase, proof of concept has basically been completed I have been able to demonstrate the basic concept to some people within this industry and they loved the idea. I now need to demonstrate with real facts why and how this could be a huge financial benefit to the industry.

I am still number crunching and awaiting more replies from many UK councils but it does seem like the average fees paid to use mobile parking solutions with a credit card are around 8-10% of total revenue as previously thought.

It is a real challenge to figure this data out as each reply seems to have a different costs setup.

So far I have received around 35 responses out of 120 to Freedom of Information Requests, This data is for the period between April 2015-April 2016

1) Total Revenue: £23.6 million
2) Total Number of Transactions: 9.5million
3) Cost to Car Park Operator (Card Processing and Service fees paid to mobile solution provider and/or directly to card processor by the car park operator): £2.2 million
4) Cost to Car Park User (Estimated Additional fees paid by car park users for using a mobile parking solution): £1.9 million

Note for Number 3: This should be "Cost of operating a mobile parking solution", regardless of whether the user or operator paid for it. I expect this to increase by around 50%, the fees paid in number 4 are either paid to the car park operator or the mobile parking solution provider depending on their specific costs setup, I still need to go over this data again to ascertain who gets this.

Based on the information collated so far I believe PKB could reduce this cost by around 70-80%


Interesting, I wouldn't mind discussing with them about how they aim to achieve their concept. From the information on that link I can see there being issues with adoption due to the ticketing data possibly being on a public blockchain, this data can be very controversial to the public and is in most parts commercially sensitive information.

It is however a good idea to have a decentralized backend and database, I have considered doing this with PKB in the future.

Link please? Google isn't turning up anything for Parkcoin.

edit: wait, nevermind https://www.f6s.com/parkcoin

Really nice to see how development is going here.. Go, Go PKB!!  

Looks like an interesting project! There is also another crypto project named Parkcoin, based in Berlin. I have talked to their founders and mentioned Parkbyte. They might be interested in collaborating.

Great news! Thats all the investors need and like to hear... Keep up the good work

Well I think the APP has come a long way since the last update

If you would like to try it out please DM me on here or on twitter, or you can email me [email protected] and I shall send you the link to the APK for you to install. (There are still a couple of minor bugs that I shall fix next week)

Based on Coinomi v1.6.1
Expiring Notification 15 minutes before expiry
Expired Notification
Google Maps added
Extend ticket function added
Email Receipt added - Last email address used saved

Youtube Video: https://www.youtube.com/watch?v=-phxRwMvSUM

Screenshots:

As far as I am aware, competition for accepting crypto for parking doesn't exist at the moment, the mobile parking solutions already out there use Credit Cards/PayPal you could say these are competition but I see them as future partners.

The plan of attack is to develop a full solution, do detailed market research and demo it to the companies that have a big market share that supply their services to the car park operators. This industry is pretty tight and it takes a fair bit of time to get the accreditation one would need to be able to attack this market.

I have had some recent interest from two existing companies that have mobile parking solutions, so its not a case of this is the time to do something but more a case of I am doing something now.

Have you not tried purchasing anything with BTC? it can take hours for the transaction to go through, days in some instances.

At the moment no company uses PKB.


Thats right, there are a few mobile solutions already. The idea is for them to add an additional payment method to their service, they won't have to do much development as they can use the ParkByte generic app, we will integrate into their system to aid adoption.

The whole solution is aimed to reduce their (or their clients) handling fees by around 75%, I estimate that the UK councils pay around £15-20m in handling fees a year, its a huge micropayment business ideal for blockchain tech.

The companies with mobile solutions may not be interested, and it doesn't need bitcoin enthusiasts to be in their company. Adoption will happen when their clients (Government Councils) apply pressure on them to reduce their credit card handling bill once a cheaper solution is available, money talks.

Crypto is becoming readily available and as more services start to accept it, the demand to use it should increase.

Page 4 of this document is what the car park operators are faced with ... http://rds.eppingforestdc.gov.uk/mgConvert2PDF.aspx?ID=20409&ku=ku


Bitcoin is expensive in transaction fees, slow confirmations and the companies who dominate what payments the industry accept (car park operators/mobile solution providers) could take 5% of the total supply for partnering up.

Why would people use ParkByte over BTC?

the idea is great but like everything in life, if we dont do it somebody will... and seems that someone is doing it!

is there any company that uses your project ?

how many company ?

So I see.


Looks like they have mobile solutions already..might not be interested..Might be, if some of them are enthousiast BTC traders.. And dont know about PKB yet...


PKB has some problems (in being as trading token wise) it has bad distribution. Its not being traded while it has "bad distribution-the trade has been kind of done "  ... wallet 200 has 1PKB in it

Ignoring reserved premine 20%, your 25% there might be 100 something.. enthousiast BTC traders and non enthousiast BTC traders

Which as how developed PKB already is its bad that its sleeping trading wise.. no on news reacting bot


   
If you would own some car park infrastructure you could start offering this solution from day x "there" and trading would still go on "here".

But is a unique solution that is tradable with bitcoin for enthousiast BTC -ers that car park in Great Britain

Trading will resume with established companie-s addopting it for sure. And it would not take much profit from Credit/Debit Card processors. Its basiclly a bit cheaper solution for users, secure and fun payment option. They can even trade it them self.. as currencies aren't that volatile  

 Is one of the killer blockchain app

I have thought about it alot and really there are two different things here and it starts to get rather complex.

1) Blockchain/Coins - "PKB" - Decentralised not controlled by anyone
2) The company - "ParkByte Limited" - Currently 100% controlled and owned by myself - This is where the equity would come from for the crowdfunding

I think the best way forward is to keep these separate. The main reason is to not restrict other established parking companies from adopting and integrating PKB into their own apps.

The thing is ParkByte Limited will start to compete for business against established companies like RingGo and PayByPhone while at the same time wanting to join forces to use PKB by providing much of the infrastructure.

The established companies are key to quick adoption and the success of PKB because they have established contracts already in place and they usually last 5 years+.

For these companies it should be as simple as offering a new payment method that drastically reduce the fees paid to the payment service providers (Credit Card processors).

I would like there to be 2-3 established companies partnered up with ParkByte Limited using the same APP/wallet for payments by PKB, each paying ParkByte Limited a "lifetime discounted early adopter fee" for an annual subscription to support the infrastructure provided by ParkByte Limited such as the APP, Support and other development. They would also get a slice of the premine as previously mentioned.

Any company wishing to join after the partnerships have been made will have to pay a normal annual subscription fee to use the ParkByte Limited infrastructure.

I would then look at getting ParkByte Limited competing directly with the early adopters by bidding for tenders, running services exactly like theirs maybe having to go down the Credit Card routes aswell.

My main focus at the moment is getting PKB adopted by providing real life benefits and solutions, if PKB gets some interest from established parking companies and there are signs of it being adopted that volume on exchanges would shoot up fast, Currently not many in the crypto community know about the project/coin and after all there are only 4.7m PKB around, 922k of which is held in cold storage from the premine.

The figures I mentioned in my previous post were all rough guesses and I have only received one response so far to my Freedom of Information Act requests. To give you an idea of the size of the market (This is a relatively small council, Edinburgh for instance have on their website they took £5,531,715.18 from cashless parking) ...

1st April 2015 - 31st March 2016 - £1,216,152.63 income from 209,751 transactions, using the parking industry basic handling fee of 8.8% (found on a few public documents, others listed per transaction etc work out around the same 8.8% seems to be the marker).

£107,021.43 was spent on processing cashless parking transactions in the last year by 1 council (there are over 200 with parking services in UK), needless to say ParkByte infrastructure costing £0.05/transaction and with a 1% PKB-to-GBP service like BitPay offer for BTC that would of been £22,649.08, not much of a saving   

I won't be doing any sort of coin sale like I think you are suggesting and I don't have any numbers really in mind for the crowdfunding investment into ParkByte Limited, probably maximum of 20% of equity in exchange for an unknown figure.

Why not. What numbers did you have in mind and how would price be determinated. Procetagewise, or fix price..

Call it LTO - late crowdfunding offering

Check:
here https://www.parkbyte.com/
here https://bitcointalksearch.org/topic/m.14218050
here https://bitcointalksearch.org/topic/m.13459058
and here https://bitcointalksearch.org/topic/m.14269468

Lots of goodies

What would be fun is. If holders of PKB could participate in it also... cha ching

Thanks, At the moment there isn't really much that can be done by others I am mid process of sorting out the finer details.


I agree and will most likely be doing this sooner rather than later, I have been looking at https://bnktothefuture.com/.

Market research is key for this and it should be relatively easy to get some great stats, but can take some time.

Many car parks here in UK are ran by councils which mean they are required under the Freedom of Information Act to respond to me with information so I have recently sent off around 100 requests to various councils asking for details of how many transactions and how much revenue went through similar Credit/Debit Card services.

I also found a few Annual Parking Reports councils published where there were over 10million transactions for 2014/2015, I expect this to be a lot more in 2015/2016.

So soon i should have some actual up to date stats and from what I have found out from various public publications (Tender's submitted to councils) there will be some very interesting data.

Parking Providers like PayByPhone and RingGo charge between £0.10-£0.20 convenience fee per transaction, there is also reference to the council paying the provider between 5-9% processing fees. Extortionate!

Lets do some rough maths  

Problem: Existing Credit/Debit Card Mobile APPs, going on the lowest fees:
]10,000,000 * £0.10 = £1m + 5% = £1,050,000
10,000,000 * £0.10 = £1m + (£1.50 * 10,000,000 * 0.05 = £750,000) = £1,750,000 spent on processing fees, I would guess most of that goes to the Credit/Debit Card processors

Solution: ParkByte
PKB/GBP @ £1,000 (Lol, it could happen you never know)
PKB TX Fee @ 0.00001PKB = £1000 * 0.00001 = £0.01
Lets assume there is a BitPay type service for PKB charging 1% to convert to GBP, average parking transaction is around £1.50 = £0.015
ParkByte Limited APP/Service Fee = £0.02
Total PKB Fee = £0.01 + £0.015 + £0.02 = £0.045

10,000,000 * £0.045 = £450,000

So that is £1,050,000 vs £450,000 .....
So that is £1,750,000 vs £450,000 .....

Clearly this looks like one of the best selling points of PKB, the coin.

As for the company; ParkByte Limited, if we did 10m tickets @ £0.02p fee/ticket that's a nice £200,000 income.

** Noticed I made an error in that calculation ... On the problem I did +5% on fees alone when it should be 5% on total revenue

this project looks amazing... Is there any way we can help?