Inefficiencies in e-commerce are staggering. Even though the industry itself is full of promise,
the technology behind it is not. Namely, the way we identify ourselves online as well as
transfer our data and money is outdated and thus ripe for improvement. Without it, we’re
stuck with never ending registrations, redundant verifications, delays, limited utility of crypto
payments, constant infringements of data protection legislation as well as the generally
worrisome state of cyber security
We believe that outdated technology is to blame for almost all of these problems. Accordingly,
we think it’s about time to fix this by embracing a modern way of managing your online
identity and the shopping experience
Solution
Safein will allow users to store their identity, as well as crypto and fiat currencies in accounts
opened on our platform. Safein will go into various business areas where combination of
possessing all of the above gives benefit to its users online and offline. The main priority of
Safein is to eliminate redundant registrations and KYC procedures.
Safein is planning to be a fully licenced EU electronic money institution with the ability to
receive and process payments in full compliance with the law. Users will be able to hold
their crypto and fiat currency in a single wallet as well as convert them from one to another.
Major crypto currencies, including Bitcoin, Ethereum ERC20 tokens, and other popular
cryptocurrencies will be supported. Currency exchange functionality, for crypto and fiat,
will be standard for all currencies with 0.5% markup from the best available rate in the
market. Having an EU electronic money institution (EMI) licence will allow Safein to connect
to the SEPA network and give IBAN codes to all of our users. Having that available, Safein
will be one step closer to becoming a standard instrument for daily use. Additionally, Safein
plans to have payment cards linked to users’ accounts, so users will be able to use their
Safein accounts daily both online and offline
Standard Safein e-commerce commission for merchants will be 1%. Merchants who possess
Safein tokens will be able to receive part of their payments free of any commission,
and users who pay with Safein tokens will receive 0.25% cashback on every purchase. More
on these Safein token benefits can be found in the “Token model” Section.
Safein provides a unique solution for both users and merchants. Users will be able to login
into websites directly with no registrations. The Safein account will at the same time provide
merchants with the information necessary for client acceptance and service provision.
Multi factor authentication mechanisme and Digital Management
With Safein, users will not only be able to fully control their logins and actions, but track and manage them as well. Users will be able
to see their full activity history, including logins and payments, track their used devices, manage current active login sessions and cancel them at any time. Users will also be able to easily check
which website has access to certain data. Most of the functionality related to identity management is already available in the MVP.
Kyc prosedure
Safein team is currently in talks with the world’s leading automated ID verification service
provider to provide exceptionally accurate results using its AI powered document checking
algorithm. Such checks, where users will only need to scan their IDs with their cameras and
take selfies, will be sufficient for most uses. Some advanced verifications, where users need
to comply with very specific regulations (for example, some cryptocurrency exchanges),
will be done manually by the Safein team. It could take up to few minutes, but compared
to current waiting periods of weeks for some exchanges, it is still a radical improvement,
especially keeping in mind that users will only need to do it once.
Safein benefits
We believe that our services will be desirable by both merchants and users.
Any online website which requires any sort of user identification or payments could greatly
benefit from our service
Token Distribution
Merchants using Safein will be able to reduce their transaction fees by holding SFN tokens.
Each SFN token held entitles a a merchant to process a specific amount of payments per
month with no commission fees. The initial multiplier, right after payments launch, will be
10, i.e. each SFN token will let merchant receive 10 SFN tokens worth of payments with no
commission that month. The multiplier will gradually decrease within 5 years starting from
the date when the payments are launched. This will lead to a very high token demand from
the very beginning, and merchants who buy tokens during the ICO will benefit the most as
they will be able to buy them for the lowest starting price - 1 ETH = 9,000 SFN.
Refferal Program
Safein allocates 5% of its total token supply for its Referral Program. Users who invite their
friends to register on Safein will be rewarded the same amount of Safein tokens that the
new user is rewarded from the Registration Pool. For more details please see the Registration
Pool section. Referred users will only entitle their friends to referral bonuses if they
fulfill all of the below within 90 days from registration:
- Fully verified account and identity;
- At least $10 worth of crypto or fiat currency deposited;
- At least $10 spent on goods or services.
The Safein Referral Program is planned to be launched within 6 months of completion of
the ICO, however, not before the launch of payments.
ICO
Should any part of the tokens allocated to ICO not be distributed during the ICO, such tokens
will be returned to the company and added to its reserve for further development. In
case of failure to reach Soft cap, all contributions will be returned to their original owners.
The Safein ICO will be distributing 10% of the total token supply to cover the below costs:
- Further development of our product;
- Crypto payments functionality;
- Smart Contracts for Login Pool;
- Safein payment solution with internal transaction processing system;
- Acquiring EMI licence;
- Onboarding at least 500 merchants;
- ICO expenses and marketing
All of the above should be done by Q4 2018 (obtaining the EMI license may take a bit longer).
After all of these goals are met, Safein will slowly distribute its tokens in the market to get the
funds needed to continue project development, mostly for B2B sales (i.e. onboarding new
merchants
Bussines plan
The Safein team will use different strategies tailored for users and merchants. Our user
base growth strategy initially relies on the Referral Program. This strategy was actively used
by PayPal, Airbnb, Dropbox and other companies which managed to achieve viral growth.
Initial user base will be achieved by signing-up users during our ICO and then launching
our referral campaign. 5% of the generated Safein tokens will be allocated to the Referral
Program. With an initial critical mass of users registered during our ICO, our user base will
grow exponentially. Starting active marketing campaigns in certain industries, as mentioned
in previous sections, will allow us to demonstrate user benefit of having one single login for
most popular websites. Similar example can be seen in the gaming industry, where Steam
login is already extremely popular when it comes to websites where users don’t need to
show their true identity or pay for goods.
With all of the mentioned benefits and large user base, merchants from crypto and gaming
sectors will be very easy to approach not only due to direct benefits but due to increased
conversion rates as well; users won’t need to register or remember different passwords to
purchase goods immediately
Team
Vladas Jurkevicius - Business | Co-founder
Vladas has more than 5 years of experience in developing fast growing e-commerce companies where he was able to utilize his expertise in online projects by putting together and managing top talent teams and establishing key partnerships. After founding and exiting a few highly successful esports and online games related projects he is now building a unique identity and payments management solution.
Lukas Deksnys - Operations | Co-founder
Lukas has worked as an actuary for one of the largest UK insurers, Liverpool Victoria, and was a member of Institute and Faculty of Actuaries. His areas of expertise include finance, risk management and advanced statistical modelling. Now his interests have shifted to blockchain technologies and startups.
Audrius Slazinskas - Legal | Co-founder
Audrius is an attorney-at-law specializing in the fields of e-commerce, gaming, corporate, M&A, finance and data protection. Legal experience and industry knowledge allows Audrius to spot market inefficiencies caused by the changing environment and quickly address them with practical solutions.
Pierre Roberge - Cyber Security
Pierre is an 11-year veteran of the Communication Security Establishment Canada (CSEC), Pierre led advanced technical teams tasked with protecting Canada’s national interests in cyberspace. While the majority of Pierre’s projects remain classified, Pierre established a strong reputation among ‘5- Eyes’ nations as a leading expert and innovator in cyber intelligence operations.
Jonas Tirevicius - Senior IT Project Manager
Jonas has more then 10 years’s experience in software development business. He first started as an IT project manager in one of the Swedish capital bank.
Bogdan Kustan - Senior Development Team Lead
Bogdan has 10 years’ experience of software programming. He has contributed to many different projects of various scope and fields.
Ilya Teresin - Senior Ethereum Blockchain developer
- 2 years of experience with Smart Contract development technological stack (Solidity, Node.js, Web3, Truffle)
- Smart Contracts unit-testing
- Experience with different Ethereum Nodes (Geth, Parity)
- Golang knowledge
- Experience with Ethereum libraries (P101, Whisper, Swarm)
- P2P technological stack (node discovery)
- More than 20 Smart Contracts with complicated logics for ICO prepared by me (smartmesh.io, narocoin.com, jibrel. network, status.im and others)
- Experience with customising open-source solutions
- A documentation-oriented person who is very careful with details
Dr. Vilius Benetis - Cyber Security
Dr. Vilius is a digital security professional with focus on securing digital environments.
Vilius Semenas - Business Development
Vilius is the Chief Commercial at CoinGate, one of the largest payment processors in the area of blockchain and cryptocurrencies.
Joseph Borg - Regulatory
Dr. Joseph F. Borg is an advocate, acting currently a Senior Advisor to WH Partners, practicing mainly on Gaming, Blockchain, Esports, Corporate, IT, Telecoms and Intellectual Property Law.
Marius Miskinis - Finance
Marius spent most of his career in fast-pace environments: in management consulting - delivering complex strategic, operational and change management projects for corporate and startup clients in CEE, EMEA, USA, etc.
Justas Brazauskas - UX/UI/Data
Justas is a Web Specialist with more than 5 years of experience in developing and managing of e-commerce projects and data analysis.
Details Information :
Website : https://www.safein.com/
Whitepaper : https://www.safein.com/summary/safein_whitepaper.pdf
Facebook : https://www.facebook.com/safeincom/
Twitter : https://twitter.com/safeincom
Telegram : https://t.me/safeincom
Username : Asyifa
My bitcointalk : https://bitcointalk.org/index.php?action=profile
ETH : 0x31E1baB2A252C6096343F7E1F92590CE91BD4024
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