Analysis of The TokenPay Project

What is TokenPay?    

We can describe TokenPay simply as a secured payment platform but it is much more than that. The TokenPay project is building a platform that will enable transactions between multiple parties with their own proprietary and untraceable cryptocurrency called TPAY. But the aim of the TokenPay project is to be able to bridge cryptocurrencies to hard assets from the non-digital world.   

TPAY is designed with security and privacy in mind and incorporates Bitcoin cryptographic technology with advanced security and privacy features. The TokenPay platform transacts primarily through the TOR Browser and ensures the anonymity of the origin IP addresses. On top of that, TokenPay features Multi-Signature Transactions, Ring Signatures, Dual-Key Stealth Addresses and Zero-Proof Knowledge for world-class security measures.     

What is the Problem TokenPay is Trying To Solve?   

Why another privacy coin? While on the surface, it appears that this is another privacy coin, the TokenPay project has much grander ambitions, the TokenPay project wants to solve one of the key problems limiting the mainstream adoption of cryptocurrencies. This is the ease of inter-changeability between fiat currencies or hard assets and cryptocurrencies, which is limiting the mainstream adoption of cryptocurrencies.   

The issue with inter-changeability between fiat currencies or hard assets and cryptocurrencies is the resistance by traditional financial institutions. I will not name names here but we hear daily about persecution of cryptocurrencies by many institutions and prominent individuals and the resistance of traditional banks to enable fiat payment services to crypto-related companies.     

TokenPay is going full-out to solve this issue by simply becoming the bank. They are in negotiations to form a new bank charter, acquire a bank or partner with a 20 year old bank, in an attractive, privacy-driven jurisdiction. Finally, a bank with full facilities and merchant services to support the entire cryptocurrencies sphere. This is the most direct solution and the TokenPay project is doing just that. Simplistic and exactly what the crypto-world needs right now to achieve mainstream adoption.   

I give TokenPay 5/5 for their focused approach in solving this key problem.   

What is the Total Token Supply?   

TokenPay will have a lifetime limit of 25 million TPAY coins. It will be non-inflationary and TPAY will adopt a Proof-of-Stake system to reward the support of the TPAY decentralized network. TPAY rewards will be given at a distribution rate of 5% per year and these rewards are pro-rated and distributed on a daily basis. The TokenPay project allocates 25% of the TPAY coins for Proof-of-Stake rewards. This will be much more energy efficient than Bitcoin and will prevent the TokenPay network from becoming centralized over time like Bitcoin.

I give TokenPay 4/5 for their limited supply as well as POS distribution.   

Team and Advisors   

The team is impressive and has varied experience in finance, legal, security, marketing as well as engineering. It is a complete team which has the ability to not only develop the TokenPay network but also bring it to the masses. What I do like about their advisors lineup is the presence of Sunerok, who is the Lead Developer of the Verge Cryptocurrency. Verge is a secure, anonymous, privacy focused coin as well. This is a great addition as TokenPay intends to incorporate many of the same features of existing privacy coins and beyond.    

In this respect, I would give TokenPay 4/5.   

TokenPay is launching their token sale starting 7th December 2017 until 17th January. This token sale will aim to raise a maximum 5000 Bitcoin so as to fund the project and at this moment, the latest news is that TokenPay has decided to offer a 100% Bonus + 100% Referral Bonus to all who participate in the 1st week of Token Sale. If your interests has been piqued by my analysis, do go to their website and register for the Token Sale and understand their system more in depth by reading the WhitePaper too.