[ANN] PayPie - Blockchain-Powered Risk Assessment

[kraterion]

This is from august:

"The Canadian Securities Administers, an umbrella group of provincial watch-dogs, said any coin or token whose value is tied to the future profits or success of a business will likely be considered a security, while those providing access to a specific good, such as the ability to play a video game, may not"

I don't understand it very much, every ICO coin/token is tied to the future profits or succes of a business, or maybe the article's writer didn't undesrtand it. I'll leave it here:
http://www.businessinsider.com/r-canada-regulators-say-most-crypto-currency-offerings-need-oversight-2017-8?IR=T

[LifeOfDoge]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

I would also like to know, are american based investors able to participate in the initial coin offering? Is this startup like an decentralized version of Equifax? Does this company follow U.S financial compliancy laws?

Paypie is based in Canada.We have regional regulators and our local body is BCSC. We are still in discussion with them to open it up for Canadians and USA residents. We have a call scheduled next week and hopefully that will give us some idea on how to proceed on the issue.

How are the regulations in Canada? Is it generally allowed for Canadians to enter ICOs or is it the same situation as in USA?

I would be more interested in how regulators looking on ICOs companies from Canada as they are located there.

[rendravolt]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

Yes very well, in the United States is not allowed to follow the ICO or more precisely prohibited, in fact America will actually make the project ico stronger in terms of funding.

[tiger5056]

is there any min. or max limit for ICO participation?

[ParRus]

Paypie is really a nice product , maybe a bit hard to understand firstly, cause you need to read a lot to understand the accounting system, what paypie will change and will afford to this market and why its disruptive. But there is a lot of people who want to invest in paypie, so i think a lot understand the possibility of paypie.

Think you are right.
I will add that their concept will bring clarity to any business, so we can say that the project is very necessary

[Sozialtourist]

What will industry reserved amount be use for?

Those are reserve tokens solely for the purpose to develop partnerships to build strong ecosystem and acquisitions. Experts in the industry know that growth in the ecosystem is very important to increase the demand of tokens. If you look at any major ICO that’s disrupting the legacy players, you will see partner tokens are very important. I Recently I had a chat with few friends who are CEOs including Steven (Rivetz) & Vinny (Civic) and they have already started building these relationships on the future use of those tokens. In fact, one of them is already taking a piece of the pie from a multi-billion dollar company just because of partnership tokens. At PayPie our goal is to execute fast and, not only become a market leader but control that position just like Google does it today for the search market. Google gets almost 80% and next company gets only 5-6% of the market. We want to become like Google in our industry.

That's a lot of words but I have to be honest, the words are quite vague.

It's the first time I hear the concept of "partnership tokens". Google doesn't really help me explain it. Is it like giving out shares to another company in return for integration of PayPie with their platform?

I would also like to hear an elaboration on the partner tokens. Can you give an example of how this would work? Or what you envision with these?

Yes it's quite vague, you reserve tokens to third-party entities and they will be locked in those for future uses by these third-party entity?

Couldn't it be possible for them to give away some of these tokens for free to interested businesses so they can try out the platform?

Maybe, but this won't be good move. Busines usually have got huge amount of money for that purposes. Even if Paypie will giveaway some of it's tokens this would be too small for each of participant to try this platform

Don't you think with a free trial you could convince someone of the potential of the PayPie platform? It doesn't have to be a huge number of businesses. Only a handful that get the possibility to test PayPie.

[Voltaje]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

Yes very well, in the United States is not allowed to follow the ICO or more precisely prohibited, in fact America will actually make the project ico stronger in terms of funding.

Actually, ICOs are prohibited to US investors, so every ICO can't target the US' citizens, but that won't stop people from participating using VPN, US does not forbid for having an ethereum account or using it, and that is just enough for people to participate, simply put, ICOs can't advertise they are letting US citizens participate, they must make an announcement with specificating US citizens are not allow, but they can't know if one or more are actually doing it anyway, because blockchain makes them anonymous.

[Heimer]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

Yes very well, in the United States is not allowed to follow the ICO or more precisely prohibited, in fact America will actually make the project ico stronger in terms of funding.

Actually, ICOs are prohibited to US investors, so every ICO can't target the US' citizens, but that won't stop people from participating using VPN, US does not forbid for having an ethereum account or using it, and that is just enough for people to participate, simply put, ICOs can't advertise they are letting US citizens participate, they must make an announcement with specificating US citizens are not allow, but they can't know if one or more are actually doing it anyway, because blockchain makes them anonymous.

Exactly, ICOs are decentralized so they can't be blocked by government. Use VPN and you can still invest

[Wapinter]

is there any min. or max limit for ICO participation?

No.There is no minimum or maximum limit.

[PS92]

Many ICOs now days, best of luck

Yeah, but most are shitty/scammy/greedy etc. This one looks like the real deal: proper use case/product/team/roadmap

[john yuan]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

Yes very well, in the United States is not allowed to follow the ICO or more precisely prohibited, in fact America will actually make the project ico stronger in terms of funding.

Actually, ICOs are prohibited to US investors, so every ICO can't target the US' citizens, but that won't stop people from participating using VPN, US does not forbid for having an ethereum account or using it, and that is just enough for people to participate, simply put, ICOs can't advertise they are letting US citizens participate, they must make an announcement with specificating US citizens are not allow, but they can't know if one or more are actually doing it anyway, because blockchain makes them anonymous.

Exactly, ICOs are decentralized so they can't be blocked by government. Use VPN and you can still invest

In fact, regional political regulations can not prohibit ICO and encryption secondary market
The encryption market is a global market, and different regions have different regulatory policies in the encryption market.
Small areas can not form regional policies that affect regions around the world
People can attend VPN, too many ways.
The trend of globalization is not a few people want to stop cessation
It is impossible to happen

[bitsurfer2014]

Many ICOs now days, best of luck

Yeah, but most are shitty/scammy/greedy etc. This one looks like the real deal: proper use case/product/team/roadmap

PAYPIE is a viable project that is handled by a team  dedicated to making it work perfectly.

[ParRus]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

but how to close? I don't understand - block ip?
Well, in this case in theory - everyone can use VPN server

[Wapinter]

TokenMarket has published a press release on PayPie. Check it out > https://tokenmarket.net/blog/paypie-introduces-worlds-first-credit-risk-assessment-based-on-blockchain-accounting/

[PS92]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

but how to close? I don't understand - block ip?
Well, in this case in theory - everyone can use VPN server

You can't close it. If people from the US really want to invest, they can and will invest, you can see this at every ico. But that does not mean that companies shouldn't do their part in preventing it.

[Sharma]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Probably not, since basically every ICO out there prohibits US investors from participating, utility or security ones.

but how to close? I don't understand - block ip?
Well, in this case in theory - everyone can use VPN server

You can't close it. If people from the US really want to invest, they can and will invest, you can see this at every ico. But that does not mean that companies shouldn't do their part in preventing it.

How can companies prevent it?Anyone can go to ICO website and buy tokens without KYC.There is no way to prevent accept ip block which is not very effective method

[belechau]

I'm far from big America, but believe me, I'd have my way to be with this project without breaking the Laws, that's possible. Moreover, when Accounting establishes itself and brings transparency to Crypo, this project will be one of the greatest references in this sector and initiative

[PS92]

I'm far from big America, but believe me, I'd have my way to be with this project without breaking the Laws, that's possible. Moreover, when Accounting establishes itself and brings transparency to Crypo, this project will be one of the greatest references in this sector and initiative

Can someone please explain something for me I can't seem to find anywhere. It's illegal for security type icos to be held in the us/for us customers. But does this only count for the ico? Once the ico has taken place is it legal for us citizens to buy/sell these tokens on exchanges?

[magisterr]

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

Is this ICO open to US investors, given it's a "utility" token rather than a "security"?

I would also like to know, are american based investors able to participate in the initial coin offering? Is this startup like an decentralized version of Equifax? Does this company follow U.S financial compliancy laws?

Paypie is based in Canada.We have regional regulators and our local body is BCSC. We are still in discussion with them to open it up for Canadians and USA residents. We have a call scheduled next week and hopefully that will give us some idea on how to proceed on the issue.

So, you want to work at Canadian and USA market at first?
WHat about other regions? Europe and Asian?

[pynetx]

can anyone explain for me why hardcap and softcap so far. I mean 82 mil vs 4,5 mil ?

Hards cap is not 82 mln.
82 mln - its only amount of tokens for sale.

What will happen to the remaining tokens if the hard cap is not met?
Will they be burned or locked out for a specific period?

I dont know. Cant find this infi on whitepaper...

Token Supply: 110,000,000 PPP tokens are available for distribution. Only 82,500,000 PPP are
for sale to contributors. Rest 27,500,000 are for the team, advisors, bounties etc.
Additional 55,000,000 PPP tokens will be generated and kept as reserve for one year solely to
develop partnerships and future acquisitions to become a dominant market leader.
Price per token: 1 PPP = 0.0011 ETH

I think they ll burn unsold tokens. But here a big hype around this ICO. So may be all tokens will be sold.

No, apparently they won't burn them. This is Nick's answer in telegram regarding unsold tokens: "They go the reserve that will be used to develop partnerships for the ecosystem."

This can be bad, this can be good. More tokens for partnerships wouldn't be bad if it's not too much in relation to sold tokens. But if it's too much it would be a problem probably.

Right, more tokens in fewer hands could create problems in the future.
Paypie team need to find a better solution for this problem in order to keep token's value intact.