PrepayWay (PrepayWay) Review

While the ICO model lost its popularity back in mid-2018, when the bearish market was as its strongest, and the regulators around the world cracked down on it - the model is still very much alive. There are coins that are being sold to this very day, and one of the currently on-going ICOs with a lot of potentials is PrepayWay ICO, which currently offers its INBIT token.

About PrepayWay


PrepayWay can be described as a blockchain ecosystem that aims to make international collaboration, contracting, and payments simplified for firms across many different industries. Its' mission is to remove various burdens, such as the lack of reliability of manual, paper-based process characterization, which also experiences quite a significant lack of transparency. As a result, the shared information is not secure and is difficult to trust fully.

This can lead to a lot of issues for suppliers, buyers, but even transporters. Payments can end up being late, and disputes are certainly not uncommon while maintaining liquidity can be extremely difficult in certain situations.

However, all of these issues can be resolved via blockchain technology, thus bringing efficiency, security, transparency, and other benefits to the process. This is what PrepayWay wants to achieve, through the means of integration of decentralized blockchain and the use of smart contracts for business processes.

The project started its ICO back on April 18th of this year, and the ICO will end in two days, on May 18th. That leaves only a  short period for interested investors to purchase PrepayWay's INBIT token, and become a part of the change that will ultimately include the entire business world.

PrepayWay ICO details


As mentioned, the ICO started about a month ago, on April 18th. It is based in Switzerland, and it offers a token known as INBIT. INBIT is designed to serve as a utility token, with its pre-ICO price being at 0.003 EUR, and its current price being at 0.01 EUR.

INBIT is an ERC-20 token, meaning that it was developed on Ethereum's platform. However, if you are purchasing it in exchange for another coin, you should know that there are four cryptocurrencies that can be traded in exchange for INBIT — Ethereum (ETH), Bitcoin  (BTC), Bitcoin Cash (BCH), and Litecoin (LTC).

The ICO's goal is to reach $56 million, while the minimum investment is 10 EUR. However, it should also be noted that your location may be an obstacle to participation. There are several restricted areas around the world, and those living in such areas are not allowed to participate. This includes the US, Switzerland itself, but also Afghanistan, Bosnia and Herzegovina, Cuba, Central African Republic, Democratic Republic of the Congo, North Korea, Ethiopia, Eritrea, Guinea-Bissau, Iraq, Iran, Lebanon, Libya, Somalia, Sudan, South Sudan, Syria, Vanuatu, Uganda, Crimea, and Yemen.

Other details regarding the ICO include a pre-sale bonus, KYC and Whitelist. The project also features a 25-page-long whitepaper which should be thoroughly studied by anyone wishing to participate, provided that they are not located in one of the mentioned areas. However, would-be investors are advised to do it fast, as the token sale will be ending in only two days.

Author: Ali Raza for Crypto-Rating.com

  • Integrated Payment Gateway. Embedded secure money transfer mechanism and integrated gateway for transactions in both digital and fiat currencies powered by licensed escrow partners.
  • Smart Contracts. Automated enforcement of contractual conditions minimizes fraud risk and the need for third party intermediaries, reducing legal fees, arbitration, and other transaction costs.
  • Tamper-Proof Transactions. The combination of self-executing smart contracts with decentralized storage of all transaction data on the blockchain ensures complete transparency and lowers fraud loss.
  • Smart Dispute Resolution. Efficient and enforceable dispute resolution by SmartArb, our International Smart Mediation and Arbitration Institute.
  • Agreement Customization. User-friendly interface for agreement customization with detailed explanations and recommendations in multiple languages.
  • Enforceable Agreements. Legally binding country-specific agreement templates developed by legal experts in accordance with national laws and regulations.
IndustryFinance
PlatformEthereum
Founded2018
Websitehttps://prepayway.com/
WhitepaperYes
CountriesSwitzerland
  • Prof. Dr. Frank Emmert. Co-founder
  • Dr. Mihnea Constantinescu. CPO & Co-founder
  • Nikolai Kalinin. CEO & Сo-founder
  • Eduard Langebraun. CFO & Co-founder
  • Oliver Nedela. COO & Co-founder
  • Dr. Vahe Sahakyan. Co-founder – investor
  • Antonio Gurei. Community Manager & Co-founder
  • 2017-2018. Seed investments round successfully closed; PrepayWay Core Team; PrepayWay Systems Switzerland AG founded – Escrow service provider; PrepayWay Systems Estonia OÜ founded; PrepayWay® trademark application and registration; SmartArb® trademark application and registration; Inbit® (token) trademark application and registration.
  • 2017-2018. PrepayWay Ecosystem business logic; PrepayWay Real Estate business logic; Elleeo business logic; SmartArb business Logic; Elleeo prototype; SmartArb model clauses published; Elleeo fully functional demo; PrepayWay Real Estate contract creation and negotiation process proto closed testing,
  • Q1 - Q2 2019. Fundraising stage 1; SRO membership application; PrepayWay Real Estate visual prototype; Real estate agreement creation process demo version; SmartArb Rules published.
  • Q3 - Q4 2019. PrepayWay Global Trade prototype; SmartArb as a fully functional mediation and arbitration institute; Elleeo MVP,
  • Q1 - Q2 2020. PrepayWay Real Estate MVP; Multilingual country-specific legal templates; Fiat-crypto gateway framework; Crypto-crypto gateway framework.
  • Q2 - Q3 2020. Fundraising stage 2; Beta version and release of PrepayWay Real Estate; Beta version and release of Elleeo; Beta version and release of PrepayWay Global Trade; Smart-Arb regional offices in EMEA, APJ, NCSA.
PrepayWay
StartJune 1, 2019
EndAugust 31, 2019
72 days left
TokenInBit
Hard cap$50 000 000
Tokens for sale6500000000
AcceptingETH

I like the fact that PrepayWay places a specific emphasis on the legal side of things, which is quite uncommon for crypto projects. I have been working in the field of international business for quite some time, and I could tell right away that they are pressing the right buttons when it comes to contract management and dispute resolution. The fact that PrepayWay partnered with SmartArb, a reputable arbitration firm, put this project at the top of my “investment worthy” list.

Christy   June 11, 2019  

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