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Blockchain platform for cryptopayments

Belarus, Minsk city
Market: Financial services, Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 11.04.2018
Min investment
$  500.000
0
Total required
$ 10.000.000
Rating
equalizer 384 из 1000
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Idea

Blockchain platform for cryptopayments consists of payment gateway for merchants, cold crypto wallet, point of exchange and arbitrage software.
Our advantages are fast transaction confirmation, multiple cryptocurrencies, zero transaction fee for merchants, own blockchain.
Why?
Cryptocurrency value creates a demand for cryptocurrency spendings. There is not enough infrastructure for spending that corresponds the number of cryptocurrency holders. The reasons of small number of merchants accepting cryptocurrency: lack of knowledge, volatility risks.

Current Status

CopPay payment gate - Ready
Point of Exchange - Ready
API - Ready
Cold wallet - 20% ready, 2nd quarter 2018
CopPay blockchain - 2nd quarter 2018
Mobile App for IOs and Android - 3rd quarter 2018

Market

The capitalisation of cryptocurrency market is about 500bl, there are about 40m of cryptocurrency holders. There are next cryptocurrency market participants: miners, Employees of IT companies, ICO projects, Investment funds, crypto exchanges, people who holds cryptocurrency as investment. Their number will continue to grow. New tokens issue every day, blockchain technology is developing and get implementation in a real life.

Problem or Opportunity

Our client is a merchant who wants to accept cryptocurrency for goods and services. For businesses it means the expansion of payment option and new client attraction, reduction of transaction relative costs.
If merchant has lack of knowledge about cryptocurrency and afraid of volatility risks he can choose fast exchange of cryptocurrency for fiat money will be sent direct to his bank account.
As well merchant can become our agent and sell crypto his customers for fiat money.
At the same moment we develop our crypto wallet now so we can add cryptocurrency holders to our clients too.
Our product is actual and necessary now. The capitalisation of cryptocurrency market is about 500bl, there are about 40m of cryptocurrency holders. These numbers will continue their growth. New tokens issue every day, blockchain technology is developing and get implementation in a real life. Growth of cryptocurrency value creates a demand for cryptocurrency spendings.There is not enough infrastructure.

Solution (product or service)

Blockchain platform for cryptopayments consists of:
payment gateway for merchants that allows merchants to accept
different cryptocurrencies as payment method in two modes - crypto-to-crypto payment and crypto-to-fiat payment ,
cold crypto wallet - our customers can hold and spend cryptocurrency,
point of exchange - any person can bye cryptocurrency at our merchant (our agent).

Competitors

Bitpay
Coinbase
Coingate
Spectrocoin
Coinpayments

Advantages or differentiators

Accepted CryptoCurency - major part of our competitors accept only Bitcoin or accept other cryptocurrencies thru ShapeShift to Bitcoin.
Fiat Currency - Currencies of all regions where service is provided.
Fee for merchants - all our competitors have fee for transactions, while using CopPay merchants don’t pay commission for any cryptocurrencies payment received from their customers.
Point of exchange to buy cryptocurrecny
Multi users option

Finance

Since cryptocurrency represents just a fraction of the global world’s economy, we expect 90% of all CopPay terminal users to work in exchange mode. In this way CopPay will receive 5%- 2% commission from each exchange transaction. This will be paid by the buyer and will go to the company as revenue.

Crypto currencies just has started to become popular among non-professional users, so option to buy cryptocurrency has big demand at the moment.

Arbitrage software allows to increase revenue by 5%-10%.

We expect to have the following numbers of gates:
1 year - 6 000
2 year - 30 000
3 year - 185 000
4 year - 630 000

We expect to have the following turnover in millions, 2-5% of which is the revenue of CopPay:
1 year - 12
2 year - 130
3 year - 1 300
4 year - 9 200

Business model

CopPay creates a platform that unites 3 types of users: CC holders, merchants and crypto exchanges. As a result, the network effect creates win-win situation for all participants: CC holders don’t need to exchange crypto for fiat money, businesses have more clients without taking additional expenses and risks, exchanges receive more liquidity, and there is one major benefit for all crypto economy which: The more cc is used as a mean of payment, the more valuable it gets.
The proof of concept: We need to make a wide network of merchants in one city in order to proof the concept that the more merchants accept crypto the more people pay with crypto. We started with Vilnius. At the moment we have already 40 merchants accepting crypto there includign United Colors of Benetton.

Money will be spent on

Scaling, business development, product development and improving.

Risks

Legal risk - Regulatory Risk - A risk of changes to regulations that result in new compliance costs.

Incubation/Acceleration programs accomplishment

no

Won the competition and other awards

no

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video