SGPay

SGPay — 3rd generation e-wallet and e-payment mobile application

SGPay Token is built on the Ethereum blockchain in accordance with the ERC-20 standard. The SGPay Token (or SGP in short) is built as a utility token to be used on our primary platform SGPay. It will be adopted by our technology partners and affiliated merchants.

Primary platform SGPay is a 3rd generation e-wallet and e-payment mobile application that allows users to buy and sell cryptocurrencies, or make purchases using both cryptocurrencies and fiat currencies. Team objective is to make SGPay the leading e-wallet and e-payments mobile application for everyone living in Singapore and the region. Customers will be able to pay for their groceries, purchase movie tickets, book flights and more with SGPay. They will also be able to select their preferred mode of payment, either in fiat currency or cryptocurrency at selected merchants.

SGPay and its tokens helps to solve these problems and promote the growth of cryptocurrencies in Singapore and Asia. The ultimate beneficiaries of this improvement are the early adopters of cryptocurrency.

Firstly, SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an inbuilt incentive system that awards lower transaction fees to users who hold more SGPay tokens. SGPay will allow its users to also make transactions using its tokens, and to pay for value-added services on the platform.

Secondly, the addition of SGPay into the payments ecosystem also provides users greater choice and diversity for payments in Singapore and Asia. There is a lesser likelihood of any one e-wallet gaining monopoly power and imposing unfavorable terms on users.

Thirdly, SGPay will advocate the use of cryptocurrency for payments regionally. This creates a more familiar environment for users who are already comfortable with using e-payment apps. Now that cryptocurrencies are promoted and supported on a popular payments application, the use of them will increase correspondingly.

Full Feature Set

• Accessible from mobile devices on both Android and Apple iOS
• Decentralized tokens on the blockchain
• ‘Cold-Storage’ style wallet protects up to 99% of crypto-assets stored with us
• Support for transactions involving cryptocurrencies such as the SGPay Network Token, Bitcoin, Ether
• Support for deposit/withdrawal of Singapore Dollar funds
• APIs built to support merchant and user funds exchange
• Full access for users over their private keys (platform will not store keys)
• Support for debit and credit cards during the e-payment phase
• Deep integration with industry leaders from the Insurance, Travel and other fields
• Monetized reward system built into the platform
• Support for locally developed cryptocurrencies such as Kyber Network Crystals, Zilliqa Tokens and more

The full feature set of SGPay will be developed in stages. For a more detailed look of when each feature will be implemented throughout our development phase please check out our roadmap in the later part of our whitepaper.

• Website: https://www.sgpay.org/
• Whitepaper: https://www.sgpay.org/sgpay-whitepaper-final.pdf

AUTHOR: Mario222

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