PumaPay - Comprehensive Pull Payment Protocol
About the project
The development of the project of the free payment system PumaPay is a modern alternative to the existing methods of making payments. Using blockchain technology, the new Pull Payment Protocol will have the flexibility and scalability of payment cards on a decentralized platform. Acceptance of such a protocol will lead to a wider participation of the cryptocurrency in the daily transactions of consumers.
The project is at the stage of pre-ICO, preceding the modalities for the official campaign. During the first quarter of 2018, it is planned to complete the process of attracting investments and issuing PMA V1.0 tokens. Testing of a blockchain and parallel integration of V1.0 with ChatMaker, a platform for interaction between customers and business representatives, are scheduled for the second half of the year.
Implementation of the idea
The PumaPay system protocol is able to simplify transactions between the customer and the seller because of the elimination of intermediary services, contributing to the savings of participants in the transaction. The purpose of the smart contracts created by the company is to be able to implement its own methodology for invoicing customers, verify the authenticity of transactions, and transfer it to the blockchain for the execution. The PullPayment protocol will be a free open source project created around a customizable chain of contracts that govern transactions. Modular PullContract will allow to combine different functionalities into one system and will include hash parameters that will be checked when executing queries.
The use of company tools will be useful for commercial organizations and consumers of their services.
PumaPay will be presented in the Ethereum network - the standard of decentralized software platforms. However, it will not be limited to it because the system is able to switch to a distributed contract network to increase privacy in the network.
Crew
A qualified team was gathered under the leadership of the founder and chief executive officer Yoav Dror. Giorgos Kourtellos is Chief Blockchain Architect. Pantelis Foulis is CFO. Milenko Strika is Head of Product. Gleb Chernov is VP Business Development. Smart Contracts Developers: Dr. Viacheslav Roganov, Yevhen Nazarenko, and Stella Evagorou. Constantinos Eracleous is cryptography developer. Matt Stone is responsible for cybersecurity. Efrat Klaus is designer.
ICO
In order to facilitate the development of the PumaPay protocol, the company pre-sells the intra-system PMA tokens to the TGE (Token Generation Event). You can buy PMA through the official website: https://ico.PumaPay.io, starting from March 22, 2018, at 12:00:00 (UTC) for 15 days.
The interesting fact is that the implementation of PMA will occur at a fixed price, measured in ETH. The authors of the project presented a special pricing program for potential participants, where the purchasing benefits are reduced as sales are completed. You can get acquainted with the detailed conditions through the white paper of the project. It is planned to complete the sale at the level of $15 million. The hard cup is not set because the work on the project involves certain risks. If the soft-cap will not be reached - PumaPay will be closed down and the gathered funds will be returned to investors.
The distribution of PumaPay tokens will be as follows:
- 30% will be for depositors of state structures;
- 30% will go to Decentralized Vision Ltd, which will participate in the development of the protocol and PMA token of the improved version;
- 17% will be distributed to the partners for the initial launch;
- 13% will be allocated to advisers for promotion and attraction of funds during the TGE;
- 10% will be distributed throughout the year between the founders and the team.
- 40% - the cost of the implementation of the protocol;
- 27% - the cost of development and operation;
- 20% - the cost of consultants and TGE;
- 10% - the cost of the work of the founders and the team;
- 3% - liquidity.
Roadmap
Conclusion
Prospects for investing in the PumaPay project are tempting, but there are unforeseen risks associated with common global market and economic conditions.
There is a prototype of Smart Contract, describing the technicalization, which still needs to be worked out on design, to audit before publishing. Within six months after TGE, the final version of the token (PMA V2.0), developed in blockchain of the next-generation (ORBS or EOS), will be presented. The implementation of the PumaPay system protocol will affect the number of payments made in cryptocurrency that will become more reliable, efficient, and scalable than current implementations.
