What Is IPS?
IPS is a decentralized payment mechanism as well as a universal e-commerce gateway that leverages blockchain technology to make transactions dependable and secure. Ultimately, IPS intends to change clients’ perception on payment and commerce solutions, and integrate all types of businesses.
IPS will achieve its objectives by developing a dependable payment system that is first-rate and seamlessly integrates with blockchain technology. In line with this goal, IPS is created by a team of competent developers whose primary focus is to create a simplistic user interface. Furthermore, IPS is a part of an open source community, an aspect that enables it to create applications with an unlimited independence.
The Current Market Situation
In the current market, there is no shortage of payment solutions and gateways, especially those that prefer fiat currencies. Nonetheless, these multiple options are faced with similar problem which often turn away potential customers. These issues include;
- Vulnerability of overseas payments
- Expensive transaction fees
- Non-compliance with KYC regulations
- Presence of intermediaries such as banks
- Slow and time-consuming processing
- Exposure to hackers
- Difficulty in setting up accounts
- Stringent cross-border laws
- Inconsistent exchange rates results in loss of asset value
How IPS Decentralized Bill Payment System Works
As mentioned earlier IPS relies on the disruptive blockchain technology to transform the payments sector and solve the issues as mentioned above. Specifically, the system will leverage self-exciting smart contracts to verify transactions. Consequently, hackers will be blocked from accessing the network, with blockchain technology ensuring that cots are affordable, and the prices are swift and timely.
The IPS APP is an innovative blockchain-driven platform that facilitates bill payments in safe, swift and transparent manner. It is compatible with popular fait and digital currencies. For every transaction conducted via the IPS App, a fee charged in IPS Token is imposed.
The IPS App will have an API that will enable third-party platforms to integrate the service into their systems.
IPS Wallet (IPS-Pay)
The functions of the IPS wallet include:
- Facilitate peer-to-peer transactions
- Hold multiple addresses in a single account
- Send and receive IPS tokens instantaneously
The IPS Wallet will be available for multiple platforms, including iOS, Androids, Linux, Windows, and Mac. It will be safeguarded by a two factor authentication feature and be connected to the Ethereum blockchain for security purposes.
IPS Token & ICO Details
IPS token is based on the ERC20 protocol, and is built on the Ethereum blockchain. Notably, IPS token is strictly a utility token and therefore does not have any other additional privileges besides those of a normal cryptocurrency.
The funds collected from the ICO will be used to finance the development of the IPS ecosystem. Out of the available 50 million IPS tokens, 30 million will be available for sale. Only Bitcoin and Ethereum will be eligible during the sale.
Parameters Of The ICO
- Presale start: April 16, 2018
- Presale end: May 30, 2018
- Presale supply: 1,500,000 IPS
- ICO supply: 28,500,000 IPS
- Minimum purchase: 0.1 ETH
- Maximum purchase: no cap
Distribution Of Funds
The proceeds from the ICO will be distributed as follows:
- 50% – platform development
- 15% – marketing
- 10% – reserve
- 8% – operations
- 7% -administration
- 5% – legal