TokenPay-a Decentralized and Self-Verifying Payment Platform Project.

Digital currencies are often called cryptocurrencies due to the intricate technical details related to cryptography, but it did not start here. When looking back at human history, from the cowry shells of the Asian region to the first coinage in ancient kingdoms, mankind first saw printed money in medieval times. This breakthrough was followed by modern-day electronic versions of money. Today, there is an international banking ecosystem, which consists of banknotes, credit/debit cards, derivatives, stocks, bonds and much more.

It was a combination of human ingenuity and societal commitments that drove the need to come up with innovative solutions to tackle the most intricate concept of human interaction handling the exchange of value. Cryptocurrencies represent the next level in the evolution of money. The technology behind this new form of money called blockchain. It is entirely driven by math and is completely decentralized. Most notably, unlike all previous forms of money, cryptocurrencies are not able to be manipulated. It is essentially money 2.0.

In 2010 I was introduced to a group working on a startup called TokenPay. Following a presentation by the company, I signed on as an investor. The mission was clear. TokenPay wanted to provide a secure and anonymous way for a consumer to pay a merchant by credit card. The technology was impressive and unique. Transactions occurred directly on the merchant’s website through a client-side API.

The platform worked, but there was a key missing element. That is, the ability to obtain card processing proved to be an insurmountable hurdle for the team. Despite an active compliance program that included all the usual KYC and AML procedures, no bank would agree to process for TokenPay. Ultimately the business failed because of this. But there was no shortage of demand with wannabe consumer and merchant clients clamoring for an account. The public was clearly beginning to embrace the idea of digital cash. It was however too early.

What is TokenPay ?

TokenPay is a decentralized and self-verifying payment platform project. Based entirely on mathematics it is designed to enable secure transactions between multiple parties. With maximum user security as the focal point, the system is accessed exclusively through the encrypted Tor Browser. Transactions are conducted with its own proprietary and untraceable cryptocurrency called TPAY that is embedded with the latest and most advanced safety features. These characteristics include a stealth addressing system, encrypted messaging, completely anonymous trading and a uniquely designed hashing algorithm that enables fast and secure transactions under any conditions.

Vission

TokenPay’s goal is to afford clients the ability to facilitate ordinary cryptocurrency to hard asset transactions with ease.

Mission

mission TokenPay wanted to provide a secure and anonymous way
for a consumer to pay a merchant by credit card.

BENEFITS OF BANK INTEGRATION

BENEFITS OF CARDS

PROCESSING BENEFITS

THE TOKENPAY PROJECT

TokenPay is a blockchain project that incorporates Bitcoin cryptographic technology with advanced security and privacy features. Additionally, TokenPay is building out a platform that combines banking and a closed-end private exchange. This enables wider adoption of the coin via consumer and merchant services. Developing a TokenPay coin and the infrastructure to support its everyday seamless use is a crucial step.

SECURITY FEATURES THAT BITCOIN DOES NOT HAVE

Multi-Signature Transactions

Standard transactions on the TokenPay network could be called “single-signature transactions,” because transfers require only one signature — from the owner of the private key associated with the TPAY address. However, the TokenPay P2P network supports much more complicated transactions that require the signatures of multiple people before the funds can be transferred. These are often referred to as M-of-N transactions. The idea is that TPAY coins become “encumbered” by providing addresses of multiple parties, thus requiring the cooperation of those parties.

Ring Signatures

In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users that each have keys. Therefore, a message signed with a ring signature is endorsed by someone in a particular group of people. One of the security properties of a ring signature is that it should be computationally infeasible to determine which of the group members’ keys were used to produce the signature.

Dual-Key Stealth Addresses

These addresses are different from the standard addresses commonly used in cryptocurrencies and allow for better privacy. A dual-key stealth address can be shared publicly by the recipient yet any transaction made out to this address cannot be linked back to it. When the stealth address has been revealed to the payer(s), it will enable the payee to receive infinite unlinkable payments. Meaning that each payment to a Stealth address computes a new unused normal address on which the funds ought to be received, any eavesdropper will be unable to link the two addresses.

TPAY combines these features available to make the user experience a private and secure one.

Zero-Knowledge Proof

In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party (the prover) can prove to another party (the verifier) that a given statement is true, without conveying any information apart from the fact that the statement is indeed true. If proving the statement requires knowledge of some secret information on the part of the prover, the definition implies that the verifier will not be able to prove the statement in turn to anyone else, since the verifier does not possess the secret information.

Tor Network Integration

Tor is a distributed overlay network designed to anonymize low-latency TCP-based applications such as web browsing, secure shell, and instant messaging. Clients choose a path through the network and build a “circuit’’, in which each node (or onion router) in the path knows its predecessor and successor, but no other nodes in the circuit. Traffic flowing down the circuit is sent in fixed-size “cells,” which are unwrapped by a symmetric key at each node (like the layers of an onion) and relayed downstream.

Transactions

TOKEN SALE DETAILS

Prospective TPAY buyers can trade any amount of Bitcoin including fractional amounts such as 0.010 Bitcoin. There will be a discount offered to early TPAY buyers that will decay with the number of TPAY claimed during the token sale. There will also be bonuses offered for referring buyers to the TPAY digital token sale. There are NO REFUNDS OR EXCHANGES once BTC has been exchanged for TPAY.

TOKEN SALE TIMELINE

TOKEN SALE MILESTONES

TOKEN SALE WITH BONUSES

TokenPay is launching a hard capped TPAY digital token sale to raise funds for the TokenPay project and general corporate purposes. This will allow the team the ability to add more features to the platform. The maximum raise will be 5,000 Bitcoin during the token sale and the presale combined. The number of tokens issued per Bitcoin will depend on the Bitcoin raised as per the bonus structure table detailed in this whitepaper. Prospective TPAY buyers can trade any amount of Bitcoin including fractional amounts such as 0.010 Bitcoin. There will be a discount offered to early TPAY buyers that will decay with the number of TPAY claimed during the token sale. There will also be bonuses offered for referring buyers to the TPAY digital token sale.

Allocation

The following graph is an estimate and will change depending on the Tiers achieved in the fundraising of the token sale.

General Token Sale Overview

Distribution Details

A total of 25 million coins have been created for the TPAY coin. No more coins can be created once the 25 million has reached full circulation.
57% of all TPAY tokens to be created for purchase by the public in the TPAY initial token sale under the ticker symbol TPAY. All unsold tokens will be kept in a reserve for futures sales.
25% of tokens will be offered to the community via Proof-of-Stake.
10% will be retained by TPAY’s founders and locked up for 1 year, as a gesture of commitment to the purpose and project.
5% will be for current and new team members and executives and will be locked up for one year, The remaining.
3% of TPAY tokens to be created will be retained for marketing, bounty payments and advertising.

CONCLUSION

While the use of cryptocurrency is sharply rising there clearly exists a critical problem with mass adoption. It is a victim of its success. While cryptocurrency is essentially designed to be the catalyst for democratizing money, the production, supply, and use of it is highly fragmented. There is no central government or bank control. Therefore, the currency cannot be inflated or deflated. Typical fiat money supply can be largely manipulated without any consultation. There is a seemingly unlimited proliferation of digital coins. As well, relatively lax regulations and the obscure nature of some digital coin issuers is driving extreme pricing unpredictability.

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