Safein electronic wallet

Safein is an electronic cash register wallet with single sign-on technology that provides its users with convenience, security and reliability. This wallet can be used to make purchases in various online stores, and the availability of the Safein wallet will save your owner from having to register on the site.
 Here's how it looks: once registered in Safein, the user gets access to purchases in online stores literally "one-click". The wallet itself provides the seller with the necessary data, eliminating the need for the buyer to complete the registration and payment entry procedure. And the user can track which data was transferred to the seller and, if necessary, to close access to them. There will also be an opportunity to log in anonymously without providing any data at all.

In the mobile application, the history of all user actions will be available. There will be stored a list of sites on which registration was passed, authorization history, indicating geolocation, all payments that the user made.

The funds allow you to store both in the currency and in the crypto currency. When making a transaction, the purse automatically converts and transfers funds to the seller, in the preferred form for it. Since all transactions are conducted inside the system, they do not take much time. The developer talks about instant transactions, but how will be implemented in practice - will have to look.

For the user, obviously, in all this there are two most important points: the simplicity of payment, which is made in just a few clicks, and the safety of the data, because there is no need to enter them every time again.

The company is going to get all necessary licenses to become a fully accepted agency with the ability to accept and process payments.

The concept of the product appeared in the second quarter of 2017, and in the fourth quarter of the same year software was already released, with a minimal set of functions, the so-called MvP. In the first quarter of 2018, the function of fully automated identity verification was introduced. The next step in the development of the project, judging by the roadmap, will be the ICO, which will start in the second quarter of 2018 - very soon. A crypto-currency purse and payments will be available in the third quarter of 2018, and by early 2019 the company must obtain an EMI license (a license for issuing electronic money). After that, you will be able to access the retail deposits and payments.

=   The project team   =

Safein was created by Vladas Jurkevičius (SEO), Audrius Slažinskas (head of the legal department) and Lukas Deksnys (chief operating officer).
 Prior to the launch of the project, Lithuanians jointly founded Atlantics Games, an eSports platform specializing in development and payment projects. This company works to this day, and the Safein team is in it in leadership positions.

Vladas Jurkevičius also previously founded Helis, a company that specialized in large-scale e-commerce projects in eSports and virtual games.

=   What does Safein offer us ?

The company positions its project as a "revolutionary way of paying online", although it is more like an electronic wallet, albeit very advanced. As mentioned, the above sites can use it to authorize the user.

This decision implied itself: the share of e-commerce in the total volume of retail sales is growing, more people are making purchases over the Internet. The diagram shows the growth in retail sales in e-commerce worldwide from 2014 (in billions of US dollars):

The Safein team identifies a number of major e-commerce problems that they intend to resolve :

the buyer has to establish a separate account for each site;

Duplicate account checks

high commission fees;

risk of fraud;

excessive collection and leakage of personal data with which an unscrupulous seller can do anything.

The main feature of the Safein wallet is that it has to be a single account for all websites. The user has only one time to enter their personal data, then he will be able to authorize on any site "in one click." Online stores will no longer have to check every new account - the data of the Safein wallet owner is already verified. This will also allow companies to stop surplus data collection, which they are currently producing, trying to protect themselves from scams and refunds. This moment will ensure the confidentiality of information.

It is stated that commission fees for sellers who are holders of Safein (SFN) tokens will be zero. Users who pay for the purchase of SFN tokens will be credited with 0.25% cashback for all purchases. Thus, the purse will be useful to both parties: the seller and the buyer.

=   ICO and distribution of funds   =

In total, 1 billion Tokenov will be produced. On the ICO, which starts April 25 at 13:00 (UTC), will be sold 300 million tokens. Soft cap will be 6 thousand ETH, hard cap - 40 thousand ETH. The cost of the token will increase, in proportion to the amount collected. Until they collect the first 4 thousand ETH, for one ETH they will give 9 thousand SFN tokens. As long as the investment is 1 ETH = 8,5 thousand SFN. And so on, as shown in the infographics.

During the ICO, 30% of the released tokens will be sold; on airdrop allocated only 1%; to create a pool, to stimulate users, allocated 5% of tokens, exactly the same goes to the referral program; 10% are assigned to encourage new users; the team and advisors will receive 10% of the tokens, which will be blocked for a period of 6 to 24 months; for the reserve fund of the company will remain 36.75% of tokens.

The money of the reserve fund will go to the development of an advanced purse for storing crypto currency and to expand the functionality of the payment system. From the fund will be allocated funds for obtaining an EMI license. Also, the fund should cover the costs associated with the staffing, operational and administrative costs, in the first two years.

The company Safein relies on the referral program, citing the example of PayPal with their incredible growth in the 2000s. Then, a successful referral program brought the payment giant 100 million new users. But let's put it bluntly: Safein is not PayPal, so it's not clear what will come of it. There are certain questions to the marketing company of the project. It is not clear how the funds will be distributed from the user incentive pool. It seems like tokens will be given for entry, registration and so on. In general, almost all the actions of the new user.

The idea, on the whole, is successful and can really shoot. Use dozens of passwords for different sites - it's really not convenient. And using one password to access everyone is extremely unsafe. Therefore, a simple Safein user will most likely like it.

For sellers, the introduction of Safein implies a potential increase in the conversion of visitors and buyers. It is also important that it will be possible to reduce transaction costs for both phiatic and crypto assets.

The team has some experience in the development and should not be mistaken with the implementation. Moreover, they have functioning platforms. Also on hand the project is the presence of the mobile application Safein, which is already available for download and has a minimum set of functions, so that you simply do not have to invest in words.

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