Latest for Tpay is they have got there bank well 12% of one for now. There CEO Mr Cappo is always about doing videos interviews and always doing promo for his baby. To top the bank they have only gone and partnered with litecoin ow also Verge. Been a busy boy so he has and I can see it paying of for Derek pretty soon. The coins great wallets excellent and the speed well I've not had any other coin that can send and be received so quick.Hats of to the TokenPay team. Good Job...
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. Fast forward to 2013 and a new emerging payment technology called Bitcoin was in the news after spiking in value from virtual pennies to over $1000.
Despite my suggestion for a potential move to a blockchain payment platform, it was simply too late for TokenPay to pivot. The core team had already thrown in the towel having been handily defeated by the iron curtain of the banking industry. At this point I began to deeply study FinTech and this new form of money known as cryptocurrencies. I started compulsively writing for various financial media such as TheStreet and Seeking Alpha. It was at the latter site where I met a fellow writer and former hedge fund analyst named Derek Capo. Our relationship blossomed due to a mutual obsession over a Park City headphone company called Skullcandy. Eventually we became real life friends and business partners. We created a startup of our own called eFin.
This is a
website where ordinary investors could receive hedge fund level research in an
automated fashion.
Around the same time, I stumbled upon an online stock trading community
called investFeed. The nascent social media startup happened to be in the
midst of its seed round. After speaking at length with the operators, I decided
to make an investment.Outside of the two founders, I remain the largest shareholder of this company. During this time, Derek and I managed to build an impressive financial research platform. Through this process we met Tony Weeresinghe. He is a former executive of the London Stock Exchange and the founder of Ustocktrade. Tony was impressed with the type of research that eFin was producing and he invited us to present at the MIT FinTech Conference early in 2016. While at the conference, eFin launched an official partnership with Ustocktrade. The AI driven stock scoring system we developed was fully integrated into the Ustocktrade platform. This was great and all for us and it sure seemed like eFin was off to the races. However, I noticed something very different.
The FinTech conference was being dominated not by stock discussion, but by blockchain. © 2017, TokenPay.com or its affiliates | TPAY is a utility coin used in the TokenPay platform. Purchase does not constitute invest
Early in 2017 after realizing the challenge that investFeed was facing in terms
of traffic generation, I suggested to the founders that they should immediately
focus on cryptocurrencies rather than stocks. While there were other investors
that remained naturally apprehensive of the abrupt change in strategy,
investFeed embraced the new concept. The blueprint was written and an ICO
was quickly launched.
investFeed sold approximately $4 million of an Ethereum based token in a
matter of weeks. The investFeed platform is now flourishing. Traffic is surging
and the future looks extremely bright. I could not be happier for the team and
how my early seed investment has begun to sprout. With a roadmap that
includes grandiose but realistic plans all the way out till the end of next year,
I’m excited to see this all play out. The shift to cryptocurrencies was timely and
no doubt the right move. We have not even seen the tip of the iceberg yet
when it comes to blockchain technology, particularly when it comes to
cryptocurrency applications.
And I know this, because at the same time Derek
was working hard on something very special. I had to get in on it.
After constantly hearing about countless hacks causing chaotic volatility in the
cryptocurrency markets, Derek came up with a novel idea. He partnered with a
group of obsessively privacy driven cryptographic coders on a top secret
project.Over the course of nearly a year of intense programming the blockchain team created a new secure coin technology that can only be described as Bitcoin on steroids. With encryption and anonymity dominating the headlines, this appeared to be a winning concept. But to be a game changer, it was clear that what is needed is more than just a coin.
Simply put, the missing link in all of these crypto platforms is the ability to turn digital assets into cold hard cash that can be realistically spent in whatever quantity without hassle. Through my international financial contacts I managed to locate the ideal bank for sale. We moved quickly to sign the necessary paperwork to begin the intense due diligence procedure.
Firm plans are in place for the buildout of a next generation blockchain banking and payments platform driven by an amazing team of top industry professionals and advisors. This has been a long road for everybody involved in the TokenPay project since inception. However, I finally feel that all the pieces are now firmly in place. As Freud so eloquently said, “One day, in retrospect, the years of struggle will strike you as the most beautiful.”
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. Blockchain is experiencing a period of exponential growth and adoption, not unlike the collective transition towards internet use in the 90’s. Established in 2008, Bitcoin is a cryptocurrency based on blockchain. In just a matter of years, it has become a legitimate and tradable commodity on a global scale.
It
has massive liquidity with billions of dollars of Bitcoin traded and used daily.
This exceeds the GDP of many sovereign nations. In fact, the market
capitalization of Bitcoin now exceeds that of Goldman Sachs. There are 16
million Bitcoins in circulation among thousands of holders. Bitcoin is only one
of the more than 1,700 cryptocurrencies available for people to buy, use and
trade. These other coins are known as altcoins. Many are based on the Bitcoin
platform, others on highly liquid Ethereum and Litecoin. The features of the
coin vary widely from practical to practically useless depending on the
underlying technology.However, there exists a dramatic misalignment in the metamorphic shift to digital currencies. The major underlying problem is that traditional financial institutions and the related governing and operating regulations are not well aligned with cryptocurrencies. The concept behind public banks was designed and conceived hundreds of years ago.
This is the early stage of a transition
towards the decentralization of the financial world. But there is resistance. The
powerful and entrenched institutions are not keen to transact in
cryptocurrency. And the influence of powerful special interest groups ensures
that traditional banks do everything possible to reject this new form of capital.
However, blockchain technology makes the adoption of cryptocurrencies
possible. It is mathematically fluid and moves much faster than a central bank,
a regulatory body or international fiscal treaties.Currently, there exists an intermediate “limbo” state whereby many cryptocurrency holders are unable to benefit from the corresponding economic value. There must be a solution to this critical problem that is affecting a rapid increasing amount of people. © 2017, TokenPay.com or its affiliates | TPAY is a utility coin used in the TokenPay platform.
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