TokenPay Whitepaper


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 850 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 an rapidly increasing amount of people.
© 2017, or its aliates | TPAY is a utility token used in the TokenPay platform. Purchase does not constitute investment. 14
TokenPay’s platform has been designed to combine the strengths of an
established banking institution with the flexibility and future-forward potential
of cryptocurrency. The network enables the exchange of Bitcoin, Ethereum
and other major cryptocurrencies by bridging the transition gap to fiat. It also
enables unfettered user access to cryptocurrency funds at a merchant point of
sale locations and ATMs worldwide. Users will have the ability to store Bitcoin
and other cryptocurrencies in a secure and insured wallet similar to what
customers at a typical bank provide for fiat accounts. As a result, counterparty
risk is naturally minimized with a licensed and bonded bank. The TPAY token
sale funds are intended to be used to complete a banking acquisition. This
bank will operate in a manner that will cater to and understand the unique
needs of global cryptocurrency holders.

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TokenPay Whitepaper