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Unseating Bitcoin: Past-ICO Review

Wed, 08/01/2018 - 13:47
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Eric Eissler
If you want to be better than Bitcoin, you need to be bigger than Bitcoin
Unseating Bitcoin: Past-ICO Review
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TokenPay (TPAY) positions itself as the world’s most secure coin and payment platform, and while it has a lot more bells and whistles to offer than Bitcoin or Litecoin, its downfall is that it is not Bitcoin or Litecoin and doesn’t have a strong enough name to be highly recognized or used as a mass payment processor. Before going further, let’s have a look at the financials.


TokenPay’s ICO ran from Dec. 7 to Dec. 26 2017 and raised $40.8 mln in funding. The current market cap is about $45 mln with a daily trade at just under $300,000.

The token entered the trading markets at $1.22 on April 5, 2018, and took off. It reached its high of $10.79 by April 22 before settling down to $3.19 at the time of writing.

The current price is still above the entry price so they are doing something right to keep it there.


All about paying

TokenPay is a Proof-of-Stake (PoS) system, whereas the Bitcoin network is powered by Proof-of-Work (PoW) mining. This makes transaction way more efficient and less costly as it avoids paying high transfer fees to miners.

According to the website, “Currently, TokenPay Swiss AG [TokenPay’s financial partner] owns 9.9 percent of WEG Bank, and the Litecoin Foundation owns another 9.9 percent, and TokenPay Swiss AG has the option (and financial capabilities) to acquire upwards of an additional 70 percent ownership rights.

Purchasing this bank will allow TokenPay Swiss AG to position itself as the crypto-market leader in merchant settlement services, in particular for those merchants that are not satisfied with traditional high processing fees and stringent compliance issues.”

That being said, TokenPay positions itself further to become a major processor of payments.

Privacy and security

TokenPay is an ultra-privacy coin. It contains several unique features such as multi-signatures, ring signatures, dual-key stealth addresses, ZK proofs (zero-knowledge), along with a fully encrypted and decentralized Tor network integration.

TPAY is the backbone of TokenPay’s fundamentally core cryptocurrency-friendly banking integration.


Crypto debit cards

In 2019, TokenPay plans to launch its Blue Diamond crypto debit card that will allow users to, “seamlessly integrate with your digital currency wallet of choice, enabling you to easily load your currency of choice to your debit card.”

You will then be able to use or spend your currency at any physical or virtual point of sale terminal and will have unfettered access to fiat at thousands of ATMs worldwide, enabling seamless fiat withdrawals.

Payment processing on the backend will be conducted through a closed-end real-time private exchange, owned exclusively by a licensed and regulated TokenPay entity,” according to the website.


Derek Capo- CEO

Capo’s is the former Vice President of International Relations at RoboTerra, founder of Next Step China, LLC and co-founder of, he was also a hedge fund analyst and has a bachelor’s degree in business administration from FIU.

Joey Pacetti- CFO

Pacetti is currently the Vice President at Capital Bank Financial Corp where he handles mergers and acquisitions. He has an extensive background as a CPA and is primarily responsible for helping to analyze acquisitions and partnerships both abroad and in the US.

Carlos Salzar- Systems Administrator

Salazar has extensive experience working with a large portfolio of enterprise offerings from companies such as Cisco & Microsoft. He is primarily responsible for the merchant services API as well as several other projects. He has extensive experience developing API’s for online casino companies and strives to build high-quality implementations for TokenPay.

On the fence

While the company has many great features associated with their coin, they are only about 50 percent complete with the final product.

Next year will be the make or break time for TokenPay, depending on the success or failure of the Blue Diamond debit card.

Once it is launched they will have to compete with others in the same crypto debit card industry.

We reached out for more information, most importantly, how many registered users are there? Because if you want to be better than Bitcoin, you can be better, but you need to be bigger than Bitcoin. However, we were met with silence.


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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.