Wyrify is a worldwide point of sale and mobile payments platform built on blockchain technology. Find out how it works today in our review.
What Is Wyrify?
Wyrify, found online at Wyrify.com, wants to revolutionize blockchain for the real world. The company’s platform consists of a point of sale (PoS) system and a mobile payments platform, both of which are based on blockchain technology. Wyrify also has a 100% asset-backed cryptocurrency, “making Wyrify the only really usable blockchain payments tool in the world”, explains the official website.
Wyrify is a fully regulated, publicly-listed company. In late September 2017, the company was sold to Stockholm IT Ventures AB, a company listed on Börse Frankfurt (SVAB), a major German stock exchange.
Wyrify’s app is already available for iOS and Android (it’s listed on both respective app stores). That app is built directly on the company’s blockchain. Users can enjoy features like free P2P transfers, cross-border remittance, card payment gateways, currency exchanges, merchant beacons, and a bitcoin mobile wallet, among other features.
How Does Wyrify Work?
Wyrify claims to have “changed the core of cryptocurrency to make it usable in the real world.” What does that mean? The company has removed mining “by using a non-diluting transaction protocol.” They’ve also created transaction times that match those used by VISA.
Overall, Wyrify claims that it’s the world’s fastest cryptocurrency backbone, with transactions completed in 1.5 seconds.
To access this platform, Wyrify has developed apps, software, hardware, and other usage solutions for merchants and consumers. The goal is to make a point of sale system that’s convenient for customers and merchants while matching the performance of existing payment platforms like Visa.
The platform also has the ability to conform with KYC/BSA regulations.
Wyrify’s blockchain was created by NXChain, Inc., which was the first listed blockchain technology company in the world, and the first listed digital currency.
Wyrify’s app is already available from the Google Play Store, where customers can use it for basic money transfer services. Wyrify also has clients – something not all startups have before they launch an ICO. The company claims to have “spent years in stealth to secure volume” and they “already have customers transacting millions”. Wyrify charges those customers a percentage for using their services and their ecosystem.
Features And Benefits Of Wyrify
Wyrify advertises all of the following features and benefits:
- Speedy transactions: Wyrify claims that its “droplet geared MasterNode network clears pending transcations in sub-1-second benchmark times even with large transaction blocks.
- Complete recovery options: Wyrify’s password/lost account recovery program allows lost accounts to be recovered, with full asset backing for each coin in any full reclaim situation.
- Fixed prices and low volatility: Wyrify sells and repurchases close to base asset value, fixing the price spread, quenching volatility, and enabling stability and prediction of exact future values.
- Easy entry and exit: Wyrify offers a large range of inexpensive fiat options, including credit/debit card transactions, digital bank transfers, and bill payment services.
- Real asset value: Wyrify’s digital currencies are linked directly 1:1 with cash held in corporate accounts, giving them real comparable value and long-term value.
- Full issuer support and responsibility: NXChain, the company that made Wyrify’s blockchain, underwrites and supports its own (and Wyrify’s) licensed digital currencies.
- “Few legal issues”: “If any legal issues come up, we are able to refund all coins so all owners/customers are protected from harm, and can comply with most regulations”
- Complete liquidity: Wyrify has cash behind every coin, allowing them to repurchase every single coin at any time.
The Wyrify ICO
The Wyrify ICO launches on October 14, 2017. You can contribute to the ICO using bitcoin, Ethereum, or Visa/MasterCard. The ICO will end on October 28.
Wyrify is priced at $1 per token. The tokens are ERC20-compliant tokens. There’s a total of 200,000,000 WYR tokens. The token sale has a minimum purchase of 1000 tokens ($1000) per person.
The Wyrify Roadmap
What does the future hold for Wyrify? Wyrify already has a mobile app available on the iTunes App Store and Google Play Store.
Throughout Q3 2017, the team will continue to work on expanding the cryptocurrency wallets with fully integrated on-the-fly cryptocurrency exchange available directly in the app. This feature, along with physical credit cards, will allow users to spend their funds and crypto-coins conveniently in any store worldwide.
By Q4 2017, the company aims to expand to Asia. They claim to have already signed their first commercial client in Asia, with thousands of end users a monthly revenue of $3 billion. The company expects to launch this client and others before the end of 2017.
By Q1 2018, they aim to sign their first clients in the United States and Africa.
Who’s Behind Wyrify?
Wyrifyis led by Anthony Norman (CEO), Henrik Onarheim (Operational Director), Kenneth Olin (Platform Director), Jan Vidar Hugsted (CFO), and Thomas Wong (Chief Cryptology Officer), among other executives. The company describes its team as “a strong team of experienced people on all positions who are dedicated to making Wyrify the number one blockchain payments backbone in the world.”
The company is based in Stockholm.
Wyrify is a payment gateway available through mobile devices and through a point of sale (PoS) gateway. To learn more about Wyrify and how the platform works, visit online today at Wyrify.com. The company’s ICO is taking place until October 28, 2017.