Platio - Smart Banking Ecosystem
About PLATIO
Crypto-friendly banking. Pay and be paid in crypto or traditional currencies, by card or bank transfer
Platio is the banking solution for businesses who need to securely switch between crypto and traditional currencies. Powered by EOS blockchain technology, Platio enables users to pay salaries and suppliers with whichever asset they choose. Platio is licensed by the FCA and headquartered in London.
MAKE DEALS
In crypto and fiat using Smart escrow which resolves conflicts between parties
PROTECT
Crypto, fiat and stocks from volatility or access loss risks
TRADE & EXCHANGE
On one platform in crypto, fiat and stocks
RECEIVE
Crypto and fiat via Invoicing & Processing for businesses and individuals
KEEP
Crypto, fiat and stocks
in one place
SPEND
Crypto and fiat with plastic or virtual payment cards
PAY
In crypto and fiat using SWIFT/SEPA/OCT
TRANSFER
Crypto, fiat and stocks for free within Platio Ecosystem
Why Platio?
Traditional banks are very selective in the services they provide for crypto users within their current banking systems. They have not embraced the digital coin era, or the way cryptocurrencies have evolved. Being fully compliant, regulated and technologically advanced, Platio solves this problems with easy access to the Platio Ecosystem, using tokenization of assets based on EOS technology, and supporting the three types of assets: crypto, fiat and stocks. Specifically, Platio’s goal is to provide solutions to crypto users as follows:
PROBLEMS & SOLUTIONS
PLATIO
PRODUCTS
Products & Features
Platio’s App will be available on iOS and Android, as well as a web-based application. Platio Smart
Banking Ecosystem will include various products and features that work together to provide
users with a seamless transaction process. Platio will tailor its products to the needs of both
individuals and businesses, ensuring that both enjoy improved accessibility to transacting in
cryptocurrencies.
With that in mind, Platio intends to create the following products with unique features for both
individuals and businesses.
Exchange & Brokerage
Exchange & Brokerage will be an essential part of the Platio Smart Banking Ecosystem. For Platio this product will not only be the instrument for users to exchange and trade fiat, crypto and stocks, but also the underlying technology enabling Platio's other products, such as Platio payment cards, the Merchant processing API, Payments (SWIFT/SEPA/Ripple/OCT) and Asset guard.
Exchange
Platio Exchange will allow users to exchange and trade both in crypto and fiat. Users will be able to make transactions in:
⎯ Cryptocurrencies and tokens of blockchain projects
⎯ Fiat currencies of supported countries.
The Platio Ecosystem will be focused not only on mainstream crypto currencies, but also on granting access to tokens of blockchain projects. Platio aims to support both the crypto community and prospective projects by allowing its users to buy and sell crypto assets with
higher growth potential. At the same time, tokens listed on the Platio Exchange will allow those projects to find new adopters and increase their business potential.
Brokerage
In order to protect the value of their portfolios and realize profits on appreciated crypto-assets, users need ways to promptly exchange their crypto holdings to traditional assets, while allowing for the possibility of rapid conversions in the opposite direction. Within the Platio Ecosystem, users will be able to choose to promptly convert their crypto holdings into a traditional asset type available within Platio
Platio Exchange & Brokerage will allow users to trade and exchange crypto, fiat and stocks, such as blue chips. In addition, 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 our analysts. To provide brokerage services for a wide range of users from different countries, Platio plans to obtain any applicable brokerage licenses. In the meanwhile, Platio plans to use a third-party provider as a white label for this service.
Trading and exchange will be simple and intuitive in the Platio App thanks to the tokenization of assets by the Platio blockchain and Internal Core Banking Platform.
The Platio Ecosystem will be integrated with fiat and crypto liquidity providers and stock markets via API connections for ecosystem stability.
The pricing of Platio trading pairs in crypto-fiat, fiat-crypto and crypto-crypto will be determined by internal supply and demand.
The pricing of trading pairs which include stocks will be provided by Platio partners.
Platio Payment Cards
Platio will provide users with plastic and virtual payment cards issued by partnered international payment companies. It is inconvenient to keep a specific card for Bitcoin and another for Ethereum or for every other cryptocurrency asset. Platio intends to develop the Platio Ecosystem to allow all crypto assets held on the Platio Ecosystem to be easily converted into fiat currencies for transaction settlement using an integrated exchange. Users will only need to select the necessary asset and push the top-up button. Platio payment cards will support top-up both in cryptocurrency and fiat. After a top-up of the Platio payment card, the user will be able to make payments at any merchant that accepts relevant payment cards. Through the Platio app users can seamlessly request, activate, suspend and top-up their chosen card.
Tokenized assets in the user’s wallet can be used to top-up the Platio payment card. From the user’s point of view, this process takes just a couple of taps in the Platio App.
The top-up process starts with asset selection: if the asset is cryptocurrency, it exchanges to fiat automatically. If the chosen asset is a fiat currency it moves directly to the Asset Management Engine for de-tokenization. The Asset Management Engine will lock tokenized fiat assets in the specific smart contract. After that, unlocked fiat will be sent from the Treasury Module of the Core Banking Platform through the fiat payment gateway to the card issuer
Internal Transfers
The Platio Smart Banking Ecosystem will prevent users from paying high fees and experiencing long transaction processing times. Platio User not only be able to transfer fiat internally, but also any asset supported by Platio, crypto, fiat or stocks, free of charge and without long processing times. The Platio Ecosystem will have an internal messenger service, which will make this process more interactive and convenient.
Since all of the assets in the Platio Smart Banking ecosystem are tokenized, transactions will be performed using the Platio Blockchain. The sender and recipient will negotiate the transfer in the internal messenger. The sender would specify the type and the amount of the asset to be sent. After this, the chosen tokenized assets will be transferred through the Platio Blockchain and the transaction history stored in Platio.
Payments & Remittances
(SWIFT/SEPA/Ripple/OCT)
Platio Payments & Remittances product will combine two groups of payments:
⎯ Payments & Remittances using SWIFT/SEPA/Ripple payment networks
⎯ Payments using OCT - Original Credit Transaction payment method
SWIFT/SEPA/Ripple
Platio intends to offer payment and remittances services via the SWIFT, SEPA and Ripple payment networks. The recipient's preference of asset type to be accepted for payment becomes irrelevant as the Platio Smart Banking Ecosystem will offer its users a wide choice of payment instruments. By facilitating inter-asset conversions, both parties to a transaction become agnostic to the other's preferences, increasing convenience and usability. In the Platio Ecosystem, all supported crypto and fiat assets may function as a means of payment using SWIFT/SEPA/Ripple, including third-party and international payments. Payments to be made by converting cryptocurrency to fiat will be executed with the help of an integrated automatic exchange. This way the recipient of the payment can receive fiat even when the Platio user initiates the payment in cryptocurrency
Smart Escrow
Smart Escrow will be one of the key products that the Platio Ecosystem provides to business users, as well as individuals. Smart Escrow will be a smart contract-based product for high risk and/or high monetary value deals in crypto and fiat, with conflict resolution built in. Settlement risk is a common problem in business transactions involving payments by cryptocurrency. To address this Platio’s Smart Escrow will ensure that assets will be transferred to the selling party only after the terms and conditions of the deal are met. Platio will act as a mediator and provide a service that allows transparent Smart Escrow Deals in:
⎯ Sale of crypto
⎯ Cross-border business transactions
⎯ Online shopping for expensive items
⎯ Payments to contractors and suppliers
⎯ Other high monetary value transactions
Executing transactions with Smart Escrow
One of the parties establishes the terms and conditions of the deal, uploads the relevant documents and sends a request to the second party. Platio will have a pre-customized set of categories, including the following:
⎯ Product / service name
⎯ Additional description
⎯ Unit of measurement
⎯ Amount
⎯ Asset of payment
⎯ Price
⎯ Deadline for the performance of obligations
⎯ Delivery address and method
⎯ Milestones
The parties will be able to negotiate the transaction, update the terms and conditions of the transaction and upload additional documents. When all the terms and conditions are finalized and the documents are uploaded, the parties will be able to confirm the deal and initiate the creation of the smart contract. After confirmation from both parties, the funds of the buying party will be locked into the smart contract. In the process of negotiating, preparing, and conducting the transaction, both parties will be able to use the internal messenger as a mean of communication. In cases of escrow with multiple milestones, the selling party will be able to present its intermediate results to the buying party, who will in turn release the appropriate assets as partial payment.
After both parties confirm that the terms and conditions of the transaction have been met, the transaction is successfully concluded. If all the terms and conditions are fulfilled by the selling party, but there is no verification from the buying party, Platio will contact the buyer within five days of the fulfilment date, to request the deal be completed. If there is no response within five days, the funds will automatically be released and transferred to the seller.
Conflict resolution process
If at least one of the parties believes that the deal’s terms and conditions have not been complied with, they may notify Platio via a message within the Platio Ecosystem. Platio will then provide notification to the other party (the “responding party”). If the responding party does not respond to Platio's" notifications within five days of the first notification, the funds locked in the Smart Escrow will be transferred according to Platio’s decision. That decision will be based on Platio’s internal investigation of all of the conditions of the deal and all supporting documentation. If an unsatisfied party begins the conflict resolution process, the Platio team will review all details and documents regarding the transaction (if available). The team will then make contact with all parties and make every effort to resolve the conflict. Platio will consider every dispute on a caseby-case basis and choose between mediation or arbitration "to resolve the conflict. Platio's conflict resolution team will consist of vetted high-skilled international lawyers. The conflict resolution process will be covered by the Smart Escrow fee, charged as a % of the value of the transaction.
Asset Guard
Platio Asset Guard is a smart-contract based product for the protection of all types of users’ assets stored in the Platio Ecosystem against losses caused by the high market volatility or access loss to the account. Asset Guard will support two types of smart contracts: Auto Exchange and Standby Transfer. As the terms of the Asset Guard service are set in the interface, an appropriate smart contract is formed by the Platio App and synced with the Platio Blockchain. If certain pre-set conditions are met, the process launches immediately. Using Asset Guard alleviates the need to constantly monitor the market or store your backup phrase so that authorized persons could gain access to your assets in case of an emergency.
Auto Exchange
Auto Exchange is one of the key features of the Platio Ecosystem helping users to manage their highly volatile assets. At the heart of this feature is a set of smart contracts that lets users specify conditions for an automatic asset exchange, protecting themselves from market volatility. This feature is similar to a stop-loss order or take-profit order used in traditional stock markets. Making an automatic
conversion for a defined amount of cryptocurrency or stocks to fiat, if the market value moves to a certain pre-specified point, allows the user to lock in and secure profits, ", ensures that losses are capped and allows for purchases at a desired price. Auto Exchange can:
⎯ Make an automatic exchange of a predefined amount of a user's cryptocurrency or stocks to fiat, should relative prices hit a specified level.
⎯ Make an automatic exchange of a predefined amount of a user's fiat into cryptocurrency or stocks, should relative prices reach a specified level
⎯ Make an automatic exchange of a predefined amount of a user's stocks into cryptocurrency or fiat, should relative prices reach a specified level.
Standby Transfer
This feature allows each user to specify an inactivity period for their account. If this period expires without a login, all chosen assets will be transferred according to the user’s instructions.
More conservative users can be provided with an opportunity to restore access to the Platio Ecosystem by answering pre-arranged security questions. However, this approach lacks the ability of managing the assets in the unfortunate event of the user’s death. Standby Transfer ensures that recipient of the user’s funds will receive the Standby Transfer according to the user’s instructions.
Standby transfer can:
⎯ Automatically send the defined amount of fiat funds of the Platio user to the external bank account of the user or his/her trustee.
⎯ Automatically send the defined amount of crypto of the Platio user to crypto-wallets within the Platio Ecosystem or in another system.
⎯ Make an automatic transfer of all the assets from one Platio account to another.
⎯ Make an automatic exchange of all the assets in the Platio ecosystem to fiat and automatically send it to the external bank account of the user or his/her trustee.
⎯ Make an automatic exchange of all of the user’s assets in the Platio ecosystem to crypto and automatically send it to the crypto-wallet of the user or his/her trustee.
⎯ Make an automatic exchange of any of the user’s crypto asset in the Platio ecosystem to fiat and automatically send it to the external bank account of the user or his/her trustee.
⎯ Make an automatic exchange of any of the user’s fiat assets in the Platio ecosystem to crypto and automatically send it to crypto-wallets in another system.
⎯ Make an automatic exchange of any user’s stocks in the Platio ecosystem to fiat and automatically send it to the external bank account of the user or his/her trustee.
⎯ Make an automatic exchange of any user’s stocks in the Platio ecosystem to crypto and automatically send it to crypto-wallets in another system.
Invoicing & Processing
The Platio Ecosystem will allow individual and business users to accept fiat as well as cryptocurrencies using Platio’s Invoicing & Processing for online merchants
Invoicing
Platio will help individual and business users create invoices in any crypto or fiat currency supported by Platio. Invoicing is mainly designed for business users, but will be available for any user who wants to keep track of their incoming payments. On the invoice, the Platio user will be able to add notes, specify the payer's data, the payment purpose, and the amount of chosen currency. In all cases, the invoice will direct the payer to make payment through the Platio Ecosystem.
Once an invoice is created it can be sent through Platio's internal messenger or through another external messaging system. Once the invoice has been paid through the Platio Ecosystem, in either fiat or crypto assets, the Platio Internal Core Banking Platform will receive the balance. Two processes will then be automatically initiated:
• Assets will be sent to the Treasury Module of Core Banking System to be custodied. The Treasury Module automatically decides where to custody the assets received: fiat assets will be held in bank accounts while crypto assets will be held in hot or cold wallets.
• Asset tokenization will use the Asset Management Engine based on the Platio blockchain. The Asset Management Engine will communicate with a network of Smart Contracts holding pre-issued tokenized assets. The Asset Management Engine will command the specific Smart Contract holding the particular pre-issued tokenized assets to unlock that amount of pre-issued tokenized assets and send them to the user’s wallet in Platio Smart Banking Ecosystem.
Processing for online merchants Using Platio, online merchants will be able to accept both crypto and fiat currencies as payment for the products they sell and services they provide. Platio's Merchant Processing API will integrate directly with merchant websites, offering a simple and safe ecommerce solution. The Platio payment infrastructure will streamline payments for goods and services between online merchants and online buyers. The Platio merchant processing API will allow merchant clients to pay via card, SWIFT transfer, transfer inside the Platio Ecosystem, or in any crypto that Platio works with. Depending on the merchant’s preferences, they may receive payments in either crypto or fiat currency. Even if the transaction was conducted in a cryptocurrency, it can seamlessly be converted to fiat and sent to the merchant's fiat account within the Platio Ecosystem. The Platio Merchant Processing API will be integrated with the merchant account in the Platio Ecosystem, ensuring that all merchants will have access to their assets, transaction history and certain types of business and financial reporting required to monitor their business activities
THE ROLE OF
THE BLOCKCHAIN
Platio builds a private Sidechain based on EOS technology and a predefined set of smart contracts backed.
The Platio Blockchain will ensure secure, fast and transparent internal business processes. The efficiencies created through Blockchain will increase organizational output and help cut down the transactional costs and processing time associated with traditional banking systems. All the assets within the Platio Ecosystem will be tokenized. Tokenized assets will be used for internal transactions and smart contracts in the Platio Ecosystem.
THE MAIN TYPES OF INTERNAL TRANSACTIONS WILL BE
EXCHANGE
& BROKERAGE
INTERNAL
TRANSFERS
THE MAIN TYPES OF SMART CONTRACTS WILL BE
SMART
ESCROW
ASSET
GUARD
PGAS TOKEN
PGAS is an ERC-20 utility token used for transactions within the platform.
PGAS use cases:
— Payment of commissions and fees
— Payment for subscription
It is expected that the PGAS value growth may happen due two main reasons:
> Increased demand for the Token as the number of users of the Platio Ecosystem grows, more subscriptions are purchased, and more transactions are executed.
> The burning of 50% of Platio internal commissions until approximately 10% of PGAS tokens are left in circulation within the Platio Ecosystem.
PGAS Sale Details
If during the fundraising Platio doesn’t acquire a minimum investment threshold of EUR5M, all funds will be returned to the investors within one month after the end of Public Sale.
TOKEN SALE
DETAILS
Platio Roadmap
For further information, please see the link below:
Username : Bitcoinissatan
Bitcointalk URL : https://bitcointalk.org/index.php?action=profile;u=905011
ETH address : 0x9D7C69Ba1C7C72326186127f48AF6D61Ff95496D
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