PexCash – P2P crypto/cash money transfer and exchange, GPS-location-based app

In an exponentially progressing world, traditional methods have become
extremely inefficient to get things done, whether it’s over-formality, long
processing time, high fees or tiring verification process, such
disadvantages in today’s fast growing world -particularly in money transfer
field- make methods such as: WIRE transfers, ACH transfers, traditional
P2P money transfer services, MTO’s or international money transfer
services, extremely outdated; hence, PexCash app was created. A
decentralized, serverless, secure and instant cash money transfer app that
is capable of handling money transactions domestically and internationally,
with the lowest possible fees. By utilizing blockchain technology and GPS
map location, we’ve created a brand new innovation that will revolutionize
the P2P money transfer industry. PexCash totally depends on physical
meetings between trading parties/persons, the app is mainly created to
provide cash-in-hand transfer/exchange solution.

Market

P2P money transfers are mainly comprised of: online cross-border
payments and remittance sending, money transfers processed by
online-pure players (e.g. TransferWise), domestic Peer-to-Peer payments
and bill splitting services and cross-border payments via traditional service
providers (banks, post offices & Western Union, MoneyGram).

Transaction Value in the “P2P Money Transfers” segment amounts to
US$65,761m in 2018, according to Statista, with a majority of these
transactions running through banks and money transfer operators (MTOs).
MTO’s are facilitators of international payment transactions. The IMF
provides a clear definition of what these entities are:
“Money transfer operators (MTOs) are financial companies (but usually not
banks) engaged in cross border transfer of funds using either their internal
system or access to another cross-border banking network.”
The complexities of different currencies and banking systems means that
sending money from one country to another is completely different from a
domestic transfer.

Transaction Value is expected to show an annual growth rate (CAGR
2018-2022) of 19.4% resulting in the total amount of US$133,795m in
2022. In the “P2P Money Transfers” segment, the number of users is
expected to amount to 188.0m by 2022. The average transaction value per
user in the “P2P Money Transfers” segment amounts to US$362.2 in 2018.
From a global comparison perspective it is shown that the highest
transaction value is reached in the United States (US$15,138m in 2018).
Largest country markets for sending money: USA, Saudi Arabia,
Switzerland, Germany and China

Largest country markets for receiving money: India, China, Philippines,
Mexico and France

Problem

Traditional and mobile app P2P money transfer services haven’t undergone
any significant upgrading process recently to cope with today’s emerging
market and new technologies. P2P money transfer services require a lot of
verification information, papers to be signed, long waiting lists, long
processing time and extremely high fees in comparison to
blockchain-based transaction fees, moreover, it’s not easily accessible to
everyone, in some places, people will have to travel 1-3 hours to receive or
send their cash money, there have been too many solutions that virtualizes
money yet in most countries people depend on cash money in the first
place and there are very few solutions, that really work, when it comes to
cash-in-hand transfer systems.

Cryptocurrency-to-cash exchange sometimes -and in some places- is very
difficult to manage, using online escrow service has a high risk of scam and
money loss, using a third party service requires a lot of verification
documents and eventually charge relatively high fees for processing your
exchange requests.

Solution

PexCash has developed a P2P money transfer and crypto exchange app
that uses GPS map location to connect users and help exchange
crypto-cash instantly. Users can send/receive cash anywhere, worldwide,
through a blockchain-based, decentralized and serverless app that
guarantees a middleman-less transaction between both parties. PexCash
applies extremely high security measures where all transactions are held
within it’s network and are instant, moreover, it guarantees a transparent
environment through public transaction trackers.

PexCash has developed a P2P money transfer and crypto exchange appthat uses GPS map location to connect users and help exchangecrypto-cash instantly. Users can send/receive cash anywhere, worldwide,through a blockchain-based, decentralized and serverless app thatguarantees a middleman-less transaction between both parties. PexCashapplies extremely high security measures where all transactions are heldwithin it’s network and are instant, moreover, it guarantees a transparentenvironment through public transaction trackers.

PexCash app nature
requires physical meeting between parties eliminating any unpleasant
trading/exchange behavior.

Based on user’s GPS map location, PexCash will connect users willing to
transfer or exchange as per their transaction attributes: amount, location
and mile/km range.

A.Listing offers:

– User can add their accepted crypto-to-cash offers
– Set fee percentage
– Set minimum trade amount
– Set maximum trade amount
– Add cryptocurrency address (where they will receive their funds)
– Mark offer as live so that other PexCash users can find it on the map


B.Exchange: ( 2-Node Transaction between User and Exchange Acc)

– User willing to sell/buy crypto-to-cash shall initiate an exchange
request
– PexCash connects user with an available nearby exchange acc that
fits their criteria
– User contacts exchange acc through in-app chat or voice call
– User and exchange acc set an agreement on an in-between meeting
location
– User transfers cryptocurrency to exchange acc in-app wallet address
and mark payment as paid
– Exchange acc receives a notification of receiving their cryptocurrency
and its amount
– Exchange acc releases cash to user
– User ends the trade by clicking “ Cash Received”
– Exchange -on hold- cryptocurrencies are released to the exchange
user and allows them to perform an external withdraw request

C.Transfer: (4-Node Transaction between Sender, Receiver & 2 Exchange Accs )

– Sender initiates a transfer request with amount and receiver ID
– Receiver approves request and mark themselves as ready to receive
– PexCash connects both sender and receiver to nearby exchange
users (X1 and X2)
– Sender meets their nearby exchange (X1) and pay them in cash
– Exchange (X1) sends the amount to Exchange (X2) in PEXC token
– Exchange (X2) releases cash payment to receiver
– Receiver confirms cash pick up
– Fees are distributed between X1, X2 and PexCash
For security purposes, users will have to approve the app to use their
device microphone to record during both transaction types so that in case
of disputes, a moderator will refer back to the recorded audio to decide
for/against included parties, users are also forced to contact via in-app chat
or voice call, any shared contact info will result in an account ban.

App includes:

1. User rating and review system
2. Verified/unverified user badges
3. Dispute system
4. Cancel order functionality, a fee is charged from the account that

cancels for orders cancelled after a certain period of time
To offer money transfer service, user will be required to:
1. Verify their account
2. Have minimum PEXC balance equivalent to the maximum amount
they are willing to transfer

To offer exchange services, user will be required to :
1. Verify their account
2. Have minimum PEXC balance equivalent to the maximum amount
they are willing to exchange

Token Details

● Name: Pexcash
● Ticker: PEXC
● Supply: 2,000,000 PEXC
● Token Sale: 1,400,000 PEXC
● Pre-sale: 300,000 PEXC
● Discount: 50%
● Price: 0.0005 ETH
● Goal: 150 ETH
● Tier 1: 500,000 PEXC
● Discount: 25%
● Price: 0.00075 ETH
● Goal: 375 ETH
● Tier 3: 600,000 PEXC
● Price: 0.001 PEXC
● Discount: 0%
● Goal: 600 ETH
● Soft cap: 150 ETH
● Hard cap: 975 ETH
● Total cap: 1125 ETH
● Token Distribution: within 12-24 hours from token purchase

Token Distribution

Tokens will be distributed as follows:
1. Token Sale = 70% (Pre-sale, Phase 1 & Phase 2)
2. Team = 19% (Reserved for team members)
3. Future Partners = 10% (In order to have successful partnerships, we
have to be prepared and have a plan for that and this is part of our plan)
4. Airdrop/bounty = 1% (A form of reward for people helping with PexCash
marketing and brand awareness)

We will use funds raised through our ICO for the following:
1. 1 social media marketing
specialist
2. Social media marketing budget
3. SEO & ASO budget
4. 1 PR specialist
5. 2 back-end developers
6. 1 front-end developer
7. 1 blockchain developer
8. Graphic designer
9. Content writer and copy-righting
specialist
10.IP phone subscriptions and
helpdesk setup
11.Hosting expenses
12.Legal counsel
13.CRM team
14.App listing expenses
15.App administration and operation
team
16.Exchanges listing expenses

Investor Benefits

As we’ve previously explained through our whitepaper, P2P market is one
of the biggest markets worldwide yet, it’s still operating using outdated
traditional methods until today, progressing slowly due to the need for
intense verification and paperwork; hence, our project becomes a winner in
the industry, an innovative solution that if we want to give it a real-life
example, we would call it P2P money uber, it’s an Uber-like app but for
P2P money transfers, the app nature is driven by users and their
engagement is what completes the process which means they will be
marketing the app themselves, that will result in huge profits in return.
PexCash is a perfect investment opportunity for any ICO investor, our
well-equipped team is capable of taking this project to a mainstream level
where PexCash app becomes a worldwide essential daily life need giving
its token a real-life value. The low & limited supply is intended to keep our
token in an ongoing up trend most of the times, moreover, the app nature
encourages token independency from current cryptocurrency market
leaders, this makes PEXC token a very low risk investment opportunity and
helps eliminating most of the common cryptocurrency high volatility issues.

Links:

Email: [email protected]

Website: www.pexcash.com

Facebook: https://www.facebook.com/PexCa…

Twitter: https://twitter.com/PexCash

Reddit: https://www.reddit.com/user/Pe…

Telegram: http://t.me/pexcash

Slack: https://pexcash.slack.com/

white paper:

white paper: https://www.pexcash.com/wp-con…

Hayden P.

A blockchain and cryptocurrency enthusiast

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