Copay - Decentralized International Multiсryptocurrency Payment System



  • Copay Idea

    CopPay’s ambition is to create a world in which all payment needs can be satisfied with cryptocurrency. We propose to create a global infrastructure that will allow the use of cryptocurrencies as a method of payment everywhere in the world. We envisage millions of CopPay virtual terminals functioning around the world. CopPay virtual terminals will be installed free of charge, giving all businesses access to cryptocurrency. Merchants will be able to accept and exchange cryptocurrency for fiat money without interruption. And consumers will be able to pay for goods and services with cryptocurrency. CopPay terminals make intermediaries between clients and merchants obsolete and ensure that cryptocurrencies can be easily traded across international borders.

    CopPay is developing an independent decentralized multi cryptocurrency platform based on
    blockchain technology. The CopPay blockchain will comprise flawless cryptocurrency payments,
    exchange and reward processes.

    CopPay’s platform is designed to:

    ● Allow cryptocurrency holders to use cryptocurrency as a mean of payment
    ● Help merchants accept any traded cryptocurrencies with zero transaction fees
    ● Minimize the risk of cryptocurrency volatility for merchants by allowing them to exchange it for fiat money in real time



    CopPay virtual terminal

    The main advantages of using a CopPay terminal are:

    ●Easy installation. The terminal is a piece of
    software that can be installed on any device
    (PC, tablet, mobile phone or Point-of-Sale
    terminal) or incorporated into a website –
    no specialist knowledge required.

    ●• Multi cryptocurrency. CopPay’s virtual
    terminal allows merchants to accept any
    exchange-listed cryptocurrency as payment
    for goods and services, and swap it for fiat
    money.

    ●• Zero transaction fee. Merchants don’t pay
    commission for any cryptocurrency
    payment received from their customers.
    The main advantages of using a CopPay terminal are:

    ●• Decentralization. There is no payment
    processor. Payments are made directly
    from the customer to the merchant.
    All cryptocurrency is placed directly into
    CopPay’s cold electronic wallet.

    ●• Immediacy. Payments are received
    within minutes, depending on the type of
    cryptocurrency.

    ●• User-friendly interface. The process of
    adding an order for payment, billing and
    payment confirmation occurs in a few
    clicks.

    CopPay virtual terminals consist of two parts:

    ●• An interface to receive payments; the part
    that’s installed on a device and used by
    cashiers to accept payments. Several users
    can be added, and each can work on several
    devices simultaneously.

    ●• An electronic cold wallet; used by
    a business owner to manage received
    cryptocurrency.

    The CopPay exchange is a software that facilitates communication between both merchant and
    cryptocurrency exchanges in real time; allowing merchants to accept cryptocurrency, exchange it,
    and receive fiat money in their bank accounts.

    For Details Read White Paper:

    CopPay blockchain

    The CopPay blockchain will store information on participants’ reputation and provide a whole host of additional functionality.

    We’ve chosen the DPoS (Delegated Proofof- Stake) consensus algorithm for CopPay’s blockchain as it needs little infrastructure hardware making it possible to assign the most productive network participants as witnesses. Witnesses are those participants who add new blocks and receive a reward for it. This is an elected position, and any member of the network can become one: if their CopPay blockchain reputation is high enough.


    There is a zero transaction fee in the system. This is done in order to make CopPay platform affordable for everyone. The payment instrument in CopPay network is the COP token, which can be used for paid network services.

    Each member of the CopPay blockchain has keys that are used when working in the system. All keys are generated when the terminal software or wallet first opens. Their public key is placed in the blockchain, but the private key is stored on the user’s device.

    CopPay Business Model

    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 a 2% commission from each exchange transaction. This will be paid by the buyer and will go to the company as revenue.

    Another source of revenue will be additional paid services: such as a subscription. For example, say a merchant wants to participate in a reputation system in order to promote his services  in the marketplace. He wants to get attention from buyers who are interested in store reputation. To do this, the merchant can subscribe to CopPay’d  reputation program and will pay a small monthly fee (in COP tokens).

    A CopPay fund will be created once the ICO is over, to buy back COP tokens. 10% of funds collected during ICO will be allocated to the fund. After that, 1% of each 2% exchange commission will be sent to the fund. We will buy COP tokens at the market price, using exchanges, in order to use them for our CopPay loyalty program. The percentage of revenue that is allocated to the fund may be changed over time.

    COP holders will be eligible to receive a COP voucher that can be used as a discount when buying goods or services from CopPay merchants. CopPay will allocate a part of its profit to all COP token holders in the form of a COP voucher. When a buyer wants to redeem a COP voucher, he presents a COP voucher to the merchant and will receive up to 50% discount on the amount of that voucher. The merchant that accepts voucher will receive the full amount in either fiat money or cryptocurrency, depending on their preference.

    Keep in mind: a COP voucher is not a COP token.


    CopPay multi-sided platform (MSP)

    CopPay’s main goal is to create a network
    of virtual terminals; that are installed and
    functioning all over the world.

    Our strategy is to become a multi-sided
    platform: an organization that creates value
    primarily by enabling direct interactions
    between two or more distinct types of affiliated
    customers.

    We connect three major user groups: clients
    with cryptocurrencies, merchants, and
    cryptocurrency exchanges.

    The more merchants accept payments with
    cryptocurrency, the more clients can use this
    payment option. CopPay will start with one
    region, attract a critical mass of participants
    from each group to achieve economies of
    scale, before moving to new markets.


    Our first region of operations will be the EU.
    We will focus on Germany and Holland

    as they’re home to a large number of
    cryptocurrency holders and miners

    Loyalty program

    In order to enter the market and attract
    merchants (stores, e-commerce, mobile
    payment systems), the loyalty program is
    created. 0,3% of each exchange transaction

    Win-Win strategy

    At CopPay, our aim is to create a platform
    where each participant can benefit from its
    use.

    Clients’ benefit:
    ● • More outlets accept cryptocurrency
    ● • No need to exchange crypto for fiat money

    Merchants’ benefits:
    ● • More clients attracted to the store
    accepting cryptocurrency
    ● • No payment transaction fee
    ● • Client pays with cryptocurrency
    ● • Merchant receives fiat money if desired

    Exchanges’ benefits:
    ● • A bigger volume of trades
    ● • More liquidity

    .COP holders’ benefits:
    ● • COP voucher eligibility
    ● • Additional CopPay platform services using
    COP tokens as currency

    CopPay ICO and COP tokens

    Issuing COP tokens
    Those who wish to participate in the
    CopPay project, can do so using COP
    tokens. During the Pre-ICO and ICO process,
    tokens will be released in the ERC20
    standard on the Ethereum platform. In
    the future, after the CopPay blockchain
    launches, it will be possible to transfer COP
    tokens to it. COP is qualified as a Utility
    Coin and will become both an instrument
    for interaction between participants in the
    system, and an indicator
    of the project’s success.

    COP tokens distribution

    CopPay plans to issue a fixed amount of 2,325,000,000 COP tokens.

    75 000 000 Pre-Ico

    1 250 200 000 ICO sale

    999 800 000 Core Team, Advisors and Rewards

    Total 2 325 000 000

    COP offering during ICO

    ICO start date and time 30 Oct. 2017, 12 PM UTC
    ICO end date and time 30 Nov. 2017, 12 PM UTC
    Number of COP offered 1 250 200 000 COP
    Number of COP for 1 ETH 19 000 COP
    ICO price, ETH 0,000052631579 ETH
    Maximum ICO funding goal
    (Hard cap) 65 800 ETH
    Minimum ICO funding target
    (Soft cap), % of Maximum goal 10%

    Token Issuance Instantly. Transferable after successful crowdsale.

    Tokens that are not sold during the Pre-ICO or ICO will be frozen until the CopPay blockchain is
    developed.

    A proportion of the tokens that are earmarked for team distribution will be reserved: in order to
    attract future investors and to develop additional products for the network. Throughout the project
    implementation, the team will report on the work performed, including the results achieved and
    funds spent. This information will be posted on CopPay’s website once a quarter.


    Funds distribution

    • Technical development (50%)
    • CopPay fund (10%)
    • Marketing and Sales (20%)
    • Operations (10%)
    • Legal and Regulation (10%)

    DEVELOPMENT ROADMAP

    January 2017

    Two blockchain enthusiasts came up with an idea to start accepting cryptocurrency in stores in Belarus.


    June 2017

    Alpha-version of CopPay’s virtual terminal was
    created and installed in TYREPLUS, a Minskbased
    tire retailer which already accepts Bitcoin,
    Ethereum, Steem and Golos coins.

    August-September 2017

    CopPay launches a Pre-ICO and continues product
    development. Alpha-version is installed in several
    more shops in Belarus and Chile. Beta-version is
    completed.

    IV Quarter 2017

    CopPay ICO. Launch of cryptocurrency exchange
    for fiat money. CopPay becomes available in
    Germany, Holland, and the Baltic countries.
    Incorporation in Zug, Switzerland.

    I Quarter 2018

    CopPay enters several other Western European
    markets.

    II Quarter 2018

    The CopPay blockchain is up and running. The
    company establishes a presence in Asia. Exchange
    2.0 launches.

    III Quarter 2018

    CopPay develops a marketplace for retail terminal
    services. The company launches formally in South
    America.

    IV Quarter 2018 and 2019

    CopPay continues to increase the scale and growth
    of its network turnover. The company launches in
    African and North American markets.

    FUTURE

    We continue to develop a CopPay ecosystem for
    a wide range of financial services, using smart
    contracts.


    White Papers:

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    Korean

    Legal info:

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