SGPay - Wallet for Everyone 🚀

EXECUTIVE SUMMARY

Our SGPay Token is built on the Ethereum blockchain in accordance with the ERC-20
standard. The SGPay Token (or SGP in short) is built as a utility token to be used on our
primary platform SGPay. It will be adopted by our technology partners and affiliated
merchants.

We chose to build SGP on the Ethereum blockchain because it brings advantages such
as decentralization, security, transparency and lower transaction costs. It is also the
preferred blockchain network of many large corporations such as Microsoft and UBS
who are part of the Enterprise Ethereum Alliance.

Our primary platform SGPay is a 3rd generation e-wallet and e-payment mobile
application that allows users to buy and sell cryptocurrencies, or make purchases using
both cryptocurrencies and fiat currencies. Our objective is to make SGPay the leading
e-wallet and e-payments mobile application for everyone living in Singapore and the
region. Customers will be able to pay for their groceries, purchase movie tickets, book
flights and more with SGPay. They will also be able to select their preferred mode of
payment, either in fiat currency or cryptocurrency at selected merchants.

Singapore makes a good launch pad for the development and execution of the
functionalities of SGPay. Many payment providers have ignored Singapore as a
potential market due to its relatively small market size. However, they fail to recognize
Singapore's capacity to quickly adopt innovative technology due to its highly educated
workforce as well as tech savvy population. Singapore is also a leading financial center
in Asia with one of the highest GDP per capita in the world. The Singapore government
has recently advocated a national push towards e-payments which will increase the
chances of investments and acquisitions in this sector.

After establishing our presence in Singapore, we will transition to nearby overseas
markets such as Malaysia and Indonesia. Indonesia is the 4th most populous country in
the world and the South East Asia region is poised to see tremendous growth.
E-commerce and e-payments are also growing at an increasing rate in the region,
posing a great opportunity for FinTech firms.

To encourage further adoption of SGPay, we will also be creating additional business
platforms to support the use of our token. These include SGReward that will tie in with
our SGPay platform to offer monetized reward points as well as SGFund that will help
to financially support the expansion of small and medium enterprises (SMEs).

RELATIVE PROJECT VALUATIONS

Singapore has been a hotbed of blockchain projects due to a regulatory friendly
environment. The following is a non-exhaustive list of projects, their current market
capitalisation as well as a short summary. The tickers for each respective project will be
listed beside their name. All market capitalisations are accurate as of 13th December
2017 and will change depending on market conditions.

• DigixDao [DGD] – US$275m Market Capitalisation
A gold-backed token built on the Ethereum blockchain. DGX represents a store of
value on the blockchain and their token event took place in 2016, raising US$5.5
million.

• TenX [PAY] – US$255m Market Capitalisation
TenX is built in partnership with credit card companies to put cryptocurrencies on
your card. This is done through liquidity providers which handles multiple assets
offline. TenX conducted their token event in June 2017 and managed to raise
US$80 million.

• Kyber Network [KNC] – US$190m Market Capitalisation
Kyber Network is a new system that is on-chain and allows the easy conversion
and exchange of digital assets. This mitigates users risk when trading
cryptocurrencies. The sale of Kyber Network Crystals managed to raise US$60
million in September 2017.

• SGPay Token [SGP] – US$4.8m Market Capitalisation [On Full Allocation]
SGPay works on our 3rd generation payment wallet SGPay. The creation of a 3rd
generation wallet aims to integrate cryptocurrencies, e-payments and other
services on the blockchain.

SGPAY- 3RD GENERATION MOBILE WALLET

VALUE PROPOSITION

Problem
The E-Payments industry holds great promise for firms who are able to secure a solid
foothold in the market. Cue the valuation case for MC Payments – which was recently
acquired for US$59 million (S$80 million)

The sector holds great promise as the next milestone for the industry would be a 3rd
generation wallet platform that hosts payments, cryptocurrency transactions as well as
integrated services.

Even a market player that is 2nd or 3rd in the industry would still generate interest from
prospective buyers and collaborators. This is due to the current underdeveloped
payments industry here.

We aim to build a strong unique selling proposition (USP) through our integrated
services and through partnerships with both technological innovators and traditional
firms. We are also exploring potential partnerships with at least one of the local banks.

From our perspective, we believe traditional money still has a place beside
cryptocurrencies and a partnership would provide much more value to consumers in
general.

The integration of traditional sectors of insurance, general retail, transport, travel and
recreational industries on our platform will generate much more support and potential
revenue compared to outdated payment models. This brings us next to the relative
valuations of blockchain projects in Singapore.

Solution
The introduction of SGPay and its tokens helps to solve these problems and promote
the growth of cryptocurrencies in Singapore and Asia. The ultimate beneficiaries of this
improvement are the early adopters of cryptocurrency.

Firstly, SGPay is an e-wallet that allows users to buy and sell cryptocurrencies. It has an
inbuilt incentive system that awards lower transaction fees to users who hold more
SGPay tokens. SGPay will allow its users to also make transactions using its tokens, and
to pay for value-added services on the platform.

Secondly, the addition of SGPay into the payments ecosystem also provides users
greater choice and diversity for payments in Singapore and Asia. There is a lesser
likelihood of any one e-wallet gaining monopoly power and imposing unfavorable
terms on users.

Thirdly, SGPay will advocate the use of cryptocurrency for payments regionally. This
creates a more familiar environment for users who are already comfortable with using
e-payment apps. Now that cryptocurrencies are promoted and supported on a popular
payments application, the use of them will increase correspondingly.

SGPay will be marketed as a ‘normal’ payments platform so that users of our platform
who are not familiar with cryptocurrencies will be encouraged to dip their toes in it.
This strategy will enable us to capture a large portion of the market that would not
normally purchase cryptocurrencies.

Full Feature Set
• Accessible from mobile devices on both Android and Apple iOS
• Decentralized tokens on the blockchain
• ‘Cold-Storage’ style wallet protects up to 99% of crypto-assets stored with us
• Support for transactions involving cryptocurrencies such as the SGPay Network
Token, Bitcoin, Ether
• Support for deposit/withdrawal of Singapore Dollar funds
• APIs built to support merchant and user funds exchange
• Full access for users over their private keys (platform will not store keys)
• Support for debit and credit cards during the e-payment phase
• Deep integration with industry leaders from the Insurance, Travel and other fields
• Monetized reward system built into the platform
• Support for locally developed cryptocurrencies such as Kyber Network Crystals,
Zilliqa Tokens and more

The full feature set of SGPay will be developed in stages. For a more detailed look of
when each feature will be implemented throughout our development phase please
check out our roadmap in the later part of our whitepaper.

We are looking to support tokens from locally developed blockchain projects such as
DigixDao, Kyber Network and Zilliqa. This will help to make their tokens more liquid,
accessible and also foster closer technical connections between our platform and
their projects.

Project Risks
There exist huge promises in the e-payments and wallet fields that we have espoused
in the earlier parts of the whitepaper. Huge potential upsides also exist in our token
values. However, there are the following risks to our project which we are obliged
to highlight.

• Banks – Recently, many wallet providers in Singapore have had their accounts
closed without reason. Banks have started to push back against cryptocurrency
wallet providers and providers of other services by closing their accounts as they
see them as a threat to their version of a proper financial system. We have
identified several provisions or fallback plans in the event our platform gets
targeted. The very essence of our project as a hybrid system (which integrates card
payments, partnerships and cryptocurrencies) does lessen the risk of prosecution
from the banks but the team is not taking any chances. We are also exploring a
partnership with at least one of the local banks.

• Regulatory Risk - There is a chance that MAS may impose new regulations on
current and new blockchain-based projects. The current stance of MAS now is to
adopt a ‘wait-and-see’ approach and let existing regulations handle current
cryptocurrencies. MAS itself has been experimenting with blockchain technology,
most notably in ‘Project Ubin’. Our token has properties like a utility token so it is
also not subject to any existing regulations. In spite of all these developments, our
team is always on the lookout for any potential changes to MAS stance
on cryptocurrencies.

• Licensing Risk – We are planning for our primary wallet platform not to fall under
any current regulations and/or requirements. However, there exists some licensing
risk as MAS develops new regulations and/or safeguards with regards to current
wallets and service providers.

SGPAY TOKENS

TOKEN OVERVIEW

The SGPay Token is an ERC20 compatible token on the Ethereum blockchain. It is
promoted and used on SGPay, associated business platforms and partner merchant
outlets. Token holders enjoy various incentives such as lower transaction fees when
buying or selling cryptocurrencies on the SGPay platform.

LAUNCH SUMMARY

• Token Name: SGPay Token [SGP]
• Total Supply: Up to 13.8 million
• Total Public Supply: Up to 10 million
• Pre-Contribution Period: 1st Feb to 14th Feb 2018
• Pre-Contribution Supply: 2 million tokens @ US$0.40 each
• Main-Contribution Period: 1st Mar to 31st Mar 2018
• Main-Contribution Supply: 8 million tokens @ US$0.50 each
• Soft Cap: US$0.8 million
• Implied Market Cap: Up to US$4.8 million
• Minimum Contribution: 1 ETH
• Maximum Contribution: 100 ETH
• Accepted Currencies: Ether (ETH)
• KYC/Whitelisting: Yes

TOKEN PROPERTIES

• Initial Limited Public Supply of up to 10,000,000
• Fixed Supply Forever (No inflation)
• Utility token on our platform(s). As adoption increases the value of tokens will
increase due to limited supply. The SGP Token is classed under utility tokens as
they are used for value-added services such as those offered by our partners on
the platform, as well as an incentive to get lower transactional fees.

For more information visit the link below !!!

WEBSITE :https://www.sgpay.org/

WHITEPAPER :https://www.sgpay.org/sgpay-whitepaper-final.pdf

TWITTER :http://www.twitter.com/sgpaywallet

TELEGRAM :http://t.me/sgpay/

FACEBOOK :http://www.facebook.com/sgpaywallet

Author: purwanto tegal

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