PLATIO A SMART BANKING PLATFORM BASED ON CRYPTOCURRENCY AND EOS TECHNOLOGY

in #platio6 years ago

The advent of cryptocurrency has drastically changed the face of the world and brought about so many possibilities. However, the ability to purchase goods and services using cryptocurrency has been limited due to the absence of established links between the crypto world and the traditional financial system. This leads to poor public perception and understanding of the potential benefits of digital asset usage. Most traditional banks can be very selective in the services they provide for crypto users within their current banking systems, and many of them have not adopted the digital method of currency exchange. The platform believes that mainstream users will embrace this new digital currency technology only after links between the cryptocurrency and traditional banking worlds are established.
PLATIO is the all-in-one smart banking platform for encrypted assets, fiat and stocks. The system is focused on making cryptocurrency a widespread means of payment by increasing its utility. The system is backed by EOS’s blockchain technology, which helps in providing users with a secure and convenient way to manage transactions between traditional and digital finance. The Ecosystem will be based on a seamlessly operated mobile App and web interface, where individuals using the system will have at their disposal all the necessary data and tools to carry out transactions with crypto, fiat and stock.The system will bring about the growth of global markets in digital assets.The platform will offer the following seven essential products to users;

While most traditional banks will not accept cryptocurrency and may even deny accounts to users, Platio will provide banking services to the crypto community and eventually become a widely accepted means of payment. Moreover, most crypto payments are irreversible, and may lead to loss for those who their counterparties refuse to honor their end of a deal. However, Platio holds funds in escrow, and will only release them when a deal has been completed to the satisfaction of both parties. The loss of private keys in most cryptocurrency platforms leads to loss of assets, but Platio transfers assets to a previously selected crypto wallet or fiat account, once an individual’s account is inactive in the platform. Furthermore, most platforms requires multiple logins to access crypto wallets, banking and brokerage accounts, but Platio requires just a single login to access crypto wallets, fiats and stocks. Crypto market sometimes can be quite volatile, and therefore exposes stake holders to risk, but Platio will protect customers from market movements by automatically transferring funds between assets types if pre-specified conditions are triggered. Business owners do not accept cryptocurrency as a payment option due to the complexities associated with it. Platio will make the accepting and storing of cryptocurrency easier to understand so that crypto payments will be accepted with confidence. The platform will dynamically improve to help ensure an optimum service in the transaction of cryptocurrency for both individuals and business owners alike.

SEVEN FEATURES LEVERAGED BY THE PLATFORM
Asset guard
This product is for the protection of all types of user’ assets stored in the Ecosystem against losses caused by the high market volatility or access loss to the account. It is made up of two types of smart contract, which are Auto Exchange and Standby transfer. Once the preset conditions are met in the contract, the process launches immediately. Moreover, the use of this product reduces the need to constantly monitor the market. The Auto Exchange can automatically make an exchange of a user’s cryptocurrency or stocks to fiat, once relative prices hit a specified level, and vice-versa. It also ensures that losses are capped and allows for purchases at a desired price. While the Standby Transfer allows each user to specify an inactivity period for their account, which if reached will trigger a transfer to a previously selected account either a Platio wallet or an external bank account of the user or a trustee.
Platio Payment Cards
This product will provide users with plastic and virtual payment cards issued by partnered international payment companies. The payment cards will support top-up from tokenized assets in the user’s wallet, both in cryptocurrency and fiat, and after the top-up the user can be able to make payments at any merchant that accepts relevant payment cards. Moreover, Platio will allow all assets held on the Ecosystem to be easily converted into fiat currencies for transaction settlement using an integrated exchange.

Internal Transfers
Most transaction platforms charge users with skyscraping fees and still take a long time to finalize transactions. However, Platio will prevent users from going through such dilemma, by making it possible for assets to be transferred internally. Furthermore, all assets that are linked with Platio crypto, fiat or stocks, will be transferred without charge and less processing time. This will be achieved by means of an internal messenger, which will make such transfers an interactive session for users to negotiate the transfer of assets through the Platioblockchain. Every transaction carried out will be immutable since they will be stored in Platio.
Payments and Remittances
This product will combine two methods of payment which are; payment and remittances using SWIFT/SEPA/Ripple & payment using OCT (Original Credit Transaction). By means of SWIFT/SEPA/Ripple all supported crypto and fiat assets may function as a means payment. However, payments that can be made by converting cryptocurrency to fiat will be executed automatically by an integrated automatic exchange. While the OCT functionality will be available for private and business users. In order to use this payment method, users must pass all KYC (Know Your Customer) procedures necessary for operation with fiat currencies. Platio users will be able to make transfers using both crypto and fiat as a means of payment and this will provide business users with mass payouts also initiated in crypto or fiat.

Invoicing and Processing
Although this product is mainly designed for business users, it will definitely be available for any user who wants to keep track of their incoming payments, since it will help in creating invoices in any crypto or fiat currency that is supported by Platio. Important details can be added to the invoice and it normally directs the payer to make payments through the Ecosystem. The online merchants will be able to accept both crypto and fiat currencies as payment for the products tjey normally sell and the services they render. Moreover, the merchants processing API will allow them pay via card, SWIFT transfer, or even a transfer in Platio or a crypto that works with Platio.

Smart Escrow
The Smart Escrow component will save money until the buyer receives any goods or services purchased while protecting the seller from late or loss of payments. Smart Escrow will only issue an individual his password after what they are paying for. Smart deals send crypto, fiat or stock to the seller of the product or service only after the parameters of the deal are met and the buyer actually receives product or service that was promised. This product will eventually act as a mediator and provide a service that allows for transparency in carrying out Escrow deals. Since this is likewise a smart contract, users involved in the contract can use the internal messenger to negotiate or communicate between themselves.

Exchange and Brokerage
This will be an essential part of the Platio smart ecosystem. It will be one of the most relevant instrument for users to exchange and trade fiat, crypto and stocks, while also being the underlying technology that will enable other products to obtain functionality. Moreover Platio will aim at supporting both the crypto community and prospective projects by allowing its users to buy and sell crypto assets with higher growth potential. The brokerage functionality will allow Platio to provide users with both traditional and crypto derivative financial instruments. The stocks and derivatives supported by Platio will be carefully selected by the platforms analysts. The ecosystem will be integrated with fiat and crypto liquidity providers and stock markets via API connections to achieve stability. Furthermore, the pricing of Platio trading pairs in crypto-fiat, fiat-crypto and crypto-crypto will be determined by internal supply and demand.

WHY CHOOSE PLATIO?
Although most prominent players in the market today offer useful services, but most of them lack the unique combination of products that Platio has. Products such as Asset guard and Smart Escrow are what gives Platio an added advantage in the midst of all other platforms. Traditional banks are also selective in the services they provide to cryptographic users in their current banking system, this is because they have not accepted the digital age of coins or how electronic money has grown. However, Platio being a fully compliant and advanced technological platform uses asset token based on EOS technology and supports three asset classes: crypto, fiat and stock.
Platio will see to it that appropriate licenses are obtained in additional jurisdictions where Platio users will transact, infrastructure and continuous product development in addition to the interactions with various financial services providers and intermediaries.

With the help of its blockchain services rendered will be efficient, user-friendly, fast, and transparent as possible. It will further include user support for each product and service. The efficiencies created by through blockchain will increase organizational output and help cut down transactional costs and processing time. The mobile App will also be used as a gateway into the Platio Smart Banking Ecosystem. It will also be an interface for making deposits and withdrawals of accepted cryptocurrencies in and out of the platform.

ROADMAP
Q3 2018 = MVP platform: Exchange and payment card
Q1 2019 = Payments and Remittances: SWIFT/SEPA/Ripple or OCT invoicing (1.0)
Q2 2019 = Processing for online merchants (1.0)
Q3 2019 = Internal transfers (1.0), Exchange Brokerage (1.0), Asset Guard (1.0), PlatioBlockchain launch
Q4 2019 = Tokenization of assets on PlatioBlockchain, Payments and Remittances: SWIFT/SEPA/RIPPLE/OCT (2.0). Payment cards (2.0), Invoicing & processing for online-merchants (2.0), Smart Escrow (1.0)
Q1 2020 = Internal transfers (2.0), Exchange & Brokerage (2.0), Asset Guard (2.0).
Q2 2020 = Smart Escrow (2.0), Platio Smart banking Ecosystem.

ICO DETAILS
Token name = PGAS
Token Standard = Ethereum ERC20
Token’s Role = Payment instrument for commissions, fees and subscriptions within Platio
Maximum Number of Tokens released = 397,500,000
Tokens available for sale (including bonus) = 258,375,000
Price = EUR 0,20
Hard Cap = EUR 34,5M
Soft Cap = EUR 5M
Accepted Currency = ETH,BTC + other crypto

CONCLUSION
With regards to the advancement in digital money,Platio is intended to replace traditional banks by using tokenization of assets based on EOS technology, and thereby supporting the three types of assets: crypto, fiat and stocks. Platioaims at bringing about the best features to the crypto and financial systems. Its smart banking system is regulated to increase confidence in crypto as an asset and also encourage its global adoption. Platio carries a purse of a single user and finally offers a way to run multiple operations with all the money in one place with the three asset types. It is widely known that there are several risks associated with possessing crypto, such as price volatility and risk of losing the private key to an account. However, the features embedded in the Platio smart banking system alleviates users from such risks. The Asset guard feature protects crypto, fiat and stocks of each user from sudden fluctuations in crypto values. Additionally, one can determine the condition of the exchange and will exchange a predefined amount of a user’s cryptocurrency or stocks to fiat, should relative prices hit a specified level. Individuals can also specify an inactivity period for their account, and once it goes beyond that the platform will transfer all assets to a previously used account either internally or externally. With this feature customers can relax, knowing fully well that their money is being tracked. Furthermore, as most crypto payments are irreversible, Platio will only release an individual’s crypto once he/she receive what was paid for. These and many other features are what makes Platio truly a timely platform in this cryptocurrency era. It will definitely change the face of thedigital financing industry.
For more information please visit:
Website: https://platio.io/
litepaper: https://platio.io/static/docks/platio-lite-pager.pdf
Twitter: https://twitter.com/Platioecosystem
Facebook: https://www.facebook.com/platio.io/
Medium: https://medium.com/@platio
Written by Cryptowin1
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2068163
ETH: 0xd66AEB32AF87071Ee3904E2Ff12e2D71015E3760