Payportal: Bill Payments and Money Transfers

clauming (7)in #cryptocurrency • 6 years ago

Introduction

Hi dears, another interesting project is being started. First of all, for who missed the previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly. All this racket of cryptocurrency has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of blockchain technology. The blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc. An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Currently, bill payment is not interoperable and retailers have the same requirements as those impossible to pay, lack of human resources to manage the task, lack of financial knowledge and IT. For this reason, the project I am going to present you is PayPortal, a project designed to solve the problems of this industry.

Video Presentation

Definition

As I said before, Payportal Services Private Limited (PPTL) (https://ico.payportal.in/) is a private company that has been established in 2011 under the laws of India to establish a connection between service providers and their customers by processing online top-ups, bill payments and national money transfers from the most secure and convenient way through a Payportal portfolio.

Goals
Apart from trying to solve the problem of Indian suppliers, Payportal also aims to be in India TOP 3 companies that provide financial services to Indian customers.

How it works
By creating a decentralized platform, Payportal works in a way that connects Indian service providers such as banks, mobile telephony operators, digital television operators and public service companies with the public through a portfolio, which is linked to a number of mobile phone of the owner of the wallet.
In this way, it takes only a few seconds to set up a wallet and the two-factor authentication process ensures that our client is exactly the person who owns the wallet.

By making this possible and negotiating the cash collection services with the nearest distributor, a retailer does not need to think more about separate phones, the lack of service providers and the long waiting time for the collection service.
Basically someone just have to think about increasing the number of clients and offering a quality service. Everything else is offered by Payportal.

It should be noted that the Payportal platform is available on a secure website (mob.payportal.in) that has been designed for personal computers and mobile web.

Advantages
By remembering the explained before about how the platform works, we can conclude that with this project we are finalizing the transaction in a few seconds, making an easy search in the transaction history, accessing the electronic news table, participating in bonus programs, receiving confirmation by SMS from a client.
In addition, the use of intelligent blockchain technology allows:

Server decentralization will keep wallet data safe in case of hardware failure or hacker attack.
Implementing a cross border money transfers between Indian migrants living abroad and their families in home country.
PPTL currencies will be acceptable as a means of payment and will be convertible into Indian rupees for the final tranche of the transaction.

Roadmap

Date	Stage	Events
2018 Q2	Finalizing an integration with BBPS.	The integration with Bharat's bill payment system will expand access to all utility bills, issued by Indian companies throughout the country. Customers will be able to obtain their own invoices through the Payportal platform and pay invoices punctually online or through retailers.
2018 Q3	Launch of the new version of IOS and Android applications with DMT.	The national money transfer service is currently available in the platform's web-based solutions and needs to be extended to smartphone applications that will increase the number of use of the portfolio by customers.
2018 Q3	Increased sales efforts in the Delhi area.	Promotion of new BBPS services such as electricity, gas and water among the largest distributors and retailers in the market. Find potential customers for a new distribution.
2018 Q4	Advertising of the Payportal portfolio.	Advertising campaign on the Internet to attract and expand the users of the Payportal online wallet.
2018 Q4	Development of a chain of its own blockade.	Development and implementation of blockchain technologies for data decentralization, cross-border money transfer service and commission collection.
2019 Q1	Geographical expansion to the new areas near Delhi.	Increase the sales team, create new distributors and retailers in new areas, promote the Payportal platform among retailers.
2019 Q2	Development and implementation of a loyalty program for retailers and distributors.	Implement a loyalty program that motivates retailers to increase their sales. The distributors, in turn, will improve the quality of the service and the number of new retailers. Additionally, our Company will introduce the number of proprietary services to be used by retailers and distributors to redeem the loyal bonds and receive additional value.
2019 Q4	Geographical expansion to the 3 largest cities of India and its surroundings.	-Registration and opening of new offices. - Creation of networks of distributors and retailers. - Promotion of Payportal services. -Creation of co-branded payment products with banks.

Airdrop
The project gives the opportunity to earn PayPortal (PPTL) tokens performing some social media tasks and doing simple steps from the bounty program explained into Bitcointalk Web Page. Here (https://bitcointalk.org/index.php?topic=3311075) you can access to the link in order to see what are the conditions to become an early PPTL contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://ico.payportal.in/docs/White_paper_Payportal.pdf). You can also stay tuned in their official Telegram group (https://t.me/PPTLchat), through their Facebook page(https://www.facebook.com/PayPortalOfficial/) or via Twitter (https://twitter.com/PayPortal_India). I hope you liked the post and soon I'll send you new ones.

Extra details

Token: PPTL
Platform: Ethereum
Type: ERC20
Price in ICO: 1 PPTL = 0.002 ETH
Tokens for sale: 20,000,000

Token Distribution