PexCash - P2P crypto/cash money transfer and exchange, GPS-location-based app








  • In an exponentially progressing world, traditional methods have become
    extremely inefficient to get things done, whether it’s over-formality, long
    processing time, high fees or tiring verification process, such
    disadvantages in today’s fast growing world -particularly in money transfer
    field- make methods such as: WIRE transfers, ACH transfers, traditional
    P2P money transfer services, MTO’s or international money transfer
    services, extremely outdated; hence, PexCash app was created. A
    decentralized, serverless, secure and instant cash money transfer app that
    is capable of handling money transactions domestically and internationally,
    with the lowest possible fees. By utilizing blockchain technology and GPS
    map location, we’ve created a brand new innovation that will revolutionize
    the P2P money transfer industry. PexCash totally depends on physical
    meetings between trading parties/persons, the app is mainly created to
    provide cash-in-hand transfer/exchange solution.



    Market

    P2P money transfers are mainly comprised of: online cross-border
    payments and remittance sending, money transfers processed by
    online-pure players (e.g. TransferWise), domestic Peer-to-Peer payments
    and bill splitting services and cross-border payments via traditional service
    providers (banks, post offices & Western Union, MoneyGram).

    Transaction Value in the "P2P Money Transfers" segment amounts to
    US$65,761m in 2018, according to Statista, with a majority of these
    transactions running through banks and money transfer operators (MTOs).
    MTO’s are facilitators of international payment transactions. The IMF
    provides a clear definition of what these entities are:
    “Money transfer operators (MTOs) are financial companies (but usually not
    banks) engaged in cross border transfer of funds using either their internal
    system or access to another cross-border banking network.”
    The complexities of different currencies and banking systems means that
    sending money from one country to another is completely different from a
    domestic transfer.

    Transaction Value is expected to show an annual growth rate (CAGR
    2018-2022) of 19.4% resulting in the total amount of US$133,795m in
    2022. In the "P2P Money Transfers" segment, the number of users is
    expected to amount to 188.0m by 2022. The average transaction value per
    user in the "P2P Money Transfers" segment amounts to US$362.2 in 2018.
    From a global comparison perspective it is shown that the highest
    transaction value is reached in the United States (US$15,138m in 2018).
    Largest country markets for sending money: USA, Saudi Arabia,
    Switzerland, Germany and China

    Largest country markets for receiving money: India, China, Philippines,
    Mexico and France



    Problem

    Traditional and mobile app P2P money transfer services haven’t undergone
    any significant upgrading process recently to cope with today’s emerging
    market and new technologies. P2P money transfer services require a lot of
    verification information, papers to be signed, long waiting lists, long
    processing time and extremely high fees in comparison to
    blockchain-based transaction fees, moreover, it’s not easily accessible to
    everyone, in some places, people will have to travel 1-3 hours to receive or
    send their cash money, there have been too many solutions that virtualizes
    money yet in most countries people depend on cash money in the first
    place and there are very few solutions, that really work, when it comes to
    cash-in-hand transfer systems.

    Cryptocurrency-to-cash exchange sometimes -and in some places- is very
    difficult to manage, using online escrow service has a high risk of scam and
    money loss, using a third party service requires a lot of verification
    documents and eventually charge relatively high fees for processing your
    exchange requests.



    Solution

    PexCash has developed a P2P money transfer and crypto exchange app
    that uses GPS map location to connect users and help exchange
    crypto-cash instantly. Users can send/receive cash anywhere, worldwide,
    through a blockchain-based, decentralized and serverless app that
    guarantees a middleman-less transaction between both parties. PexCash
    applies extremely high security measures where all transactions are held
    within it’s network and are instant, moreover, it guarantees a transparent
    environment through public transaction trackers.

    PexCash app nature
    requires physical meeting between parties eliminating any unpleasant
    trading/exchange behavior.






    Based on user’s GPS map location, PexCash will connect users willing to
    transfer or exchange as per their transaction attributes: amount, location
    and mile/km range.


    A.Listing offers:

    - User can add their accepted crypto-to-cash offers
    - Set fee percentage
    - Set minimum trade amount
    - Set maximum trade amount
    - Add cryptocurrency address (where they will receive their funds)
    - Mark offer as live so that other PexCash users can find it on the map



    B.Exchange: ( 2-Node Transaction between User and Exchange Acc)

    - User willing to sell/buy crypto-to-cash shall initiate an exchange
    request
    - PexCash connects user with an available nearby exchange acc that
    fits their criteria
    - User contacts exchange acc through in-app chat or voice call
    - User and exchange acc set an agreement on an in-between meeting
    location
    - User transfers cryptocurrency to exchange acc in-app wallet address
    and mark payment as paid
    - Exchange acc receives a notification of receiving their cryptocurrency
    and its amount
    - Exchange acc releases cash to user
    - User ends the trade by clicking “ Cash Received”
    - Exchange -on hold- cryptocurrencies are released to the exchange
    user and allows them to perform an external withdraw request


    C.Transfer: (4-Node Transaction between Sender, Receiver & 2 Exchange Accs )


    - Sender initiates a transfer request with amount and receiver ID
    - Receiver approves request and mark themselves as ready to receive
    - PexCash connects both sender and receiver to nearby exchange
    users (X1 and X2)
    - Sender meets their nearby exchange (X1) and pay them in cash
    - Exchange (X1) sends the amount to Exchange (X2) in PEXC token
    - Exchange (X2) releases cash payment to receiver
    - Receiver confirms cash pick up
    - Fees are distributed between X1, X2 and PexCash
    For security purposes, users will have to approve the app to use their
    device microphone to record during both transaction types so that in case
    of disputes, a moderator will refer back to the recorded audio to decide
    for/against included parties, users are also forced to contact via in-app chat
    or voice call, any shared contact info will result in an account ban.


    App includes:

    1. User rating and review system
    2. Verified/unverified user badges
    3. Dispute system
    4. Cancel order functionality, a fee is charged from the account that

    cancels for orders cancelled after a certain period of time
    To offer money transfer service, user will be required to:
    1. Verify their account
    2. Have minimum PEXC balance equivalent to the maximum amount
    they are willing to transfer

    To offer exchange services, user will be required to :
    1. Verify their account
    2. Have minimum PEXC balance equivalent to the maximum amount
    they are willing to exchange




    Token Details

    ● Name: Pexcash
    ● Ticker: PEXC
    ● Supply: 2,000,000 PEXC
    ● Token Sale: 1,400,000 PEXC
    ● Pre-sale: 300,000 PEXC
    ● Discount: 50%
    ● Price: 0.0005 ETH
    ● Goal: 150 ETH
    ● Tier 1: 500,000 PEXC
    ● Discount: 25%
    ● Price: 0.00075 ETH
    ● Goal: 375 ETH
    ● Tier 3: 600,000 PEXC
    ● Price: 0.001 PEXC
    ● Discount: 0%
    ● Goal: 600 ETH
    ● Soft cap: 150 ETH
    ● Hard cap: 975 ETH
    ● Total cap: 1125 ETH
    ● Token Distribution: within 12-24 hours from token purchase




    Token Distribution







    Tokens will be distributed as follows:
    1. Token Sale = 70% (Pre-sale, Phase 1 & Phase 2)
    2. Team = 19% (Reserved for team members)
    3. Future Partners = 10% (In order to have successful partnerships, we
    have to be prepared and have a plan for that and this is part of our plan)
    4. Airdrop/bounty = 1% (A form of reward for people helping with PexCash
    marketing and brand awareness)


    We will use funds raised through our ICO for the following:
    1. 1 social media marketing
    specialist
    2. Social media marketing budget
    3. SEO & ASO budget
    4. 1 PR specialist
    5. 2 back-end developers
    6. 1 front-end developer
    7. 1 blockchain developer
    8. Graphic designer
    9. Content writer and copy-righting
    specialist
    10.IP phone subscriptions and
    helpdesk setup
    11.Hosting expenses
    12.Legal counsel
    13.CRM team
    14.App listing expenses
    15.App administration and operation
    team
    16.Exchanges listing expenses





















    Investor Benefits

    As we’ve previously explained through our whitepaper, P2P market is one
    of the biggest markets worldwide yet, it’s still operating using outdated
    traditional methods until today, progressing slowly due to the need for
    intense verification and paperwork; hence, our project becomes a winner in
    the industry, an innovative solution that if we want to give it a real-life
    example, we would call it P2P money uber, it’s an Uber-like app but for
    P2P money transfers, the app nature is driven by users and their
    engagement is what completes the process which means they will be
    marketing the app themselves, that will result in huge profits in return.
    PexCash is a perfect investment opportunity for any ICO investor, our
    well-equipped team is capable of taking this project to a mainstream level
    where PexCash app becomes a worldwide essential daily life need giving
    its token a real-life value. The low & limited supply is intended to keep our
    token in an ongoing up trend most of the times, moreover, the app nature
    encourages token independency from current cryptocurrency market
    leaders, this makes PEXC token a very low risk investment opportunity and
    helps eliminating most of the common cryptocurrency high volatility issues.



    Links:

    Email: [email protected]

    Website: www.pexcash.com

    Facebook: https://www.facebook.com/PexCa...

    Twitter: https://twitter.com/PexCash

    Reddit: https://www.reddit.com/user/Pe...

    Telegram: http://t.me/pexcash

    Slack: https://pexcash.slack.com/

    white paper:https://www.pexcash.com/wp-con...























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