8Pay x Satoshi Club AMA Recap from 11th of April

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from 8Pay and our guests were @RCioffi and @peterlomb. The AMA took place on 11 April.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with 8Pay! Welcome to Satoshi Club😀

Andrés M. | Satoshi Club: [ 🤗 Sticker ]

Mary | Satoshi Club: @RCioffi welcome here 👍

Roberto Cioffi: Hi @madamlobster, thank you 🙂 Happy to be here!

Andrés M. | Satoshi Club: How is going your weekend?

Roberto Cioffi: We don’t have weekends since months 😅 8Pay requires a lot of effort and focus in order to achieve what we have planned. So we are working hard as always 💪

Mary | Satoshi Club: Oh, i understand you! Development on the first place 😉

Mary | Satoshi Club: So, let’s start our AMA 🚀

Andrés M. | Satoshi Club: Big efforts will mean great achievements 😁

Mary | Satoshi Club: Roberto, please, introduce yourself and tell us more about 8Pay😀

Roberto Cioffi: Yes platform and business development in general first

sure

I’m Roberto Cioffi, CBDO of 8Pay. I’m a management engineer and entrepreneur. I joined the team since the beginning, when 8Pay was only an idea, since I worked closely to the founders for many years.

8Pay is a unique payment protocol.

Designed for online purchases, it provides a suite of valuable tools for payment management, administered via a user-friendly dashboard.

8Pay supports single and recurring payments, enabling cryptocurrency to be used for subscriptions and repeat billing for the first time.

Mary | Satoshi Club: When 8Pay was only an idea? 😀 I mean for how long was 8Pay project developed?

Andrés M. | Satoshi Club: Do you know how born that idea?

Roberto Cioffi: Being in the advertising space, we always had a focus on online payments. So we saw many years ago the possibility to see a world where your crypto wallet could be consider like a regular bank account. Basically the more we got involved to crypto, the more we understood that his could be a game changer in the industry. Finally after some months of brianstorming 8Pay was born

Mary | Satoshi Club: Gotcha! I like the idea about such kind of cryptowallet!

Thank you for your intro, Roberto!

Andrés M. | Satoshi Club: Amazing intro😁

Mary | Satoshi Club: Do you want to add something or we can go to the questions from our community?We have some😉

Roberto Cioffi: I think we can go to the questions 😊

Q1 from Telegram user @lukacy

8Pay was a project created to be a crypto payment platform. When you said crypto, do you mean 8pay can be used for paying in crypto or paying on sites supporting payment in crypto or both? Compared to existing crypto payment platform, what killer features makes you stamd out?

Roberto Cioffi: 8Pay is a platform for crypto to crypto payments, at the moment we don’t have plans to integrate fiat. Our main focus is on the total decentralization and to follow the core blockchain principles.

Compared to existing crypto payment platforms, 8Pay gives for the first time the possibility to deal with and to manage recurring payments and on demand payments. Everything without KYC and it will be possible to use the platform only with a MetaMask wallet or equivalent.

Mary | Satoshi Club: Give us examples, what i can use 8Pay for?

Roberto Cioffi: Sure, for example: you have a streaming service where the user needs to subscribe to access the contents. You can use 8Pay to manage the payments.

Mary | Satoshi Club: It’s very comfortable 👍

Roberto Cioffi: You can add the 8Pay button to the website as in the traditional world you see the PayPal button

Andrés M. | Satoshi Club: Twitch for example?

Roberto Cioffi: and then, as a merchant, you can manage the subscriptions and the plans on the platform

Yes, also like Netflix

We cover almost every kind of online payments

Andrés M. | Satoshi Club: Thanks for the clarification, a great tool to increase the adoption

Do you have a mobile app?

Roberto Cioffi: Yes, for us mass adoption is really a key point. That’s why we cannot imagine 8Pay without a mobile app. We are planning to have it at the beginning of the next year

For us the mobile user experience is really important that’s why we’ll work hard on it, as we did for the web app

Mary | Satoshi Club: Awesome 👍

Andrés M. | Satoshi Club: Great news, we hope to see you here in another AMA session next year 🥳

Andrés M. | Satoshi Club: Do you want to add something before the next question?

Roberto Cioffi: We can go ahead

Q2 from Telegram user @AmirJosh

8PAY protocol designed a user-friendly desktop and mobile application without the need to code or execute complex smart contracts which gives vendors access to a cryptocurrency payment solution that is convenient and easy to use. How about the security of 8PAY? What safety precautions are you implementing to make all the transactions secure and the users identity protected?

Roberto Cioffi: Being a crypto payments platform, the security has been always considered as a priority, before to take any other decision. First of all, the token of course has been audited before the tge and we’ll publish also the platform audit before he main net release that will happen soon (stay tuned for this 🔥).

Furthermore, we are using Cludflare with all their features to guarantee a deeper protection.

Then, all the payments are sent wallet to wallet, in this way we guarantee the privacy concept of the blockchain and the user identity protection

Mary | Satoshi Club: So, i won’t need metamask to connect to your platform?

Roberto Cioffi: Yes you need metamask

Andrés M. | Satoshi Club: So the funds are safe👏

Mary | Satoshi Club: Got it and then i will be able to set my payments😉 it’s easy!

Which audit firms did you choose for audit?

Roberto Cioffi: Sure 🙂 To be consistent with the “trustless” concept we have also decided to lock the LP tokens of Uniswap and Pancakeswap on https://unicrypt.network/, this not only gives guarantees to the investors and supporters but also show the committement of the team.

Andrés M. | Satoshi Club: Btw what about the fees using 8pay platform?

Roberto Cioffi: We disclose all the information soon 😊

We have 1% fee on all payments

Mary | Satoshi Club: We will follow your updates 👍

Andrés M. | Satoshi Club: Thanks for the clear answers, ready for the next question?😁

Roberto Cioffi: Yes 🙂

Q3 from Telegram user @Indomiekuy

i see that 8Pay continue to branch out and increase your presence in the Crypto world with partnering GoSwapp. As we know partnering is great way to spread and grow fast. So can you explain what agreement that 8Pay and GoSwapp already make from this collaboration ? Do you have any plan to add another partner in the future?

Roberto Cioffi: We are dealing with many different companies to make great partnership to grow faster and to increase the adoption.

GoSwapp will help us to have more merchants as soon as the platform will be live on the main net and since they help us to spread the awareness, we’ll do the same for them. Moreover, their app is already live so you can easily check the price and the chart of 8Pay token through their chart. We have great plans for the future and you can be sure you’ll see amazing partnerships coming up

Mary | Satoshi Club: Do you focused on some regions of the world or you will work worldwide?

Roberto Cioffi: We don’t have demographic limits at the moment

Mary | Satoshi Club: That’s fantastic 😍

Thanks for the answers! Ready to proceed?

Roberto Cioffi: Sure

Q4 from Telegram User @kimzyemma

Hello,

You said mobile app is coming soon, I agreed with you . Is there a way we can secure our wallet on desktop application, since all wallet app do have security like phrase key, private and the rest?. Or we should just take the risks for now till you create mobile app?.

Roberto Cioffi: We are a non custodial platform, so we don’t manage those kind of risks. 8Pay works through metamask, ledger etc. We are not a wallet

Andrés M. | Satoshi Club: So we don’t need any kind of KYC to use it?

Mary | Satoshi Club: But do you plan to work with fiat in the future?

Roberto Cioffi: No KYC, you have to login easily with your wallet

We don’t plan to work with fiat at the moment

Mary | Satoshi Club: Got it! Thanks! Ready to jump to the next question?

Roberto Cioffi: yes

Q5 from Telegram User @Derazy

Payment platform usually has complicated issues regarding on minimum or maximum deposit and withdrawal. Does 8pay has the issues on deposit and withdrawal? What unique features 8pay have to overcome the issue?

Roberto Cioffi: As I said before, 8Pay is non custodial so we don’t deal with deposits and withdrawals 🙂

Andrés M. | Satoshi Club: Btw, could you tell us about your roadmap? What is your main target for this 2021?

Roberto Cioffi: Our main target for this 2021 is for sure the release on the main net of the platform and also the patnerships with many big merchants in order to spread the adoption. We want to see 8Pay used by many people by the end of this year. Furthermore we plan to have the mobile app design in place

Mary | Satoshi Club: Do you plan any marketing campaigns? To spread the world?

Roberto Cioffi: Sure, as soon as we’ll have 8Pay on mainnet we’ll start with advertising for the awareness and to integrate merchants (to have more users of course)

Andrés M. | Satoshi Club: We will expecting for that 😃, are you ready for the last question of the first part of the AMA?

Roberto Cioffi: yes 💪

Q6 from Telegram User @huyvo87

What are your plans to educate and raise awareness and adoption among the community to make more people understand 8PAY and its technology?

Roberto Cioffi: Because the 8Pay network incorporates a diverse group of users, spanning many territories, demographics, and industries, it will be necessary to employ a multiphase user-acquisition and education strategy.

For the 8Pay network to gain traction, merchant adoption and partnerships will be imperative. This in turn will lead to consumer adoption, first among crypto-savvy users, and then among the broader public as the barriers to transacting with crypto assets are driven down through better design and incentivization mechanisms.

The 8Pay web app has been designed with non-technical users in mind, including individuals who are not crypto natives, or with limited experience of using crypto assets, and these attributes will play into the project’s marketing strategy

Mary | Satoshi Club: Which incentivization mechanisms will you have?😀

Andrés M. | Satoshi Club: Do you have some guides to teach users to use the platform?

Roberto Cioffi: Nevertheless, to launch the 8Pay network, merchants that accept cryptocurrency, or who have in the past, will be targeted as early adopters. This will include small to medium-sized businesses that operate ecommerce stores, and vendors on large online marketplaces who accept cryptocurrency. In addition, businesses that pay their employees in cryptocurrency will be targeted as potential users of the 8Pay network.

As the 8Pay ecosystem grows, and its network effects strengthen, we will endeavor to educate traditional businesses about the benefits of cryptocurrency, and to onboard them. 8Pay’s integration into ecommerce checkouts, online marketplaces, brick-and-mortar stores, and remote workplaces will drive users to the network as consumers and employees, who will pay or be paid using 8Pay.

Andrés M. | Satoshi Club: @peterlomb welcome to the AMA😃

Roberto Cioffi: We’ll disclose them soon

Andrés M. | Satoshi Club: Thank you so much for your amazing answers, could you share us some useful links before the second part of the AMA?

Roberto Cioffi: Sure, at the moment we have a medium guide where you can learn how to use the 8Pay demo. Check it here ->https://medium.com/8pay/8pay-demo-on-binance-smart-chain-d1e9e0f85a9d

Mary | Satoshi Club: 👍

Andrés M. | Satoshi Club: Great, that is so useful💪

Peter Lomb: thanks so much

Mary | Satoshi Club: Hello, Peter! You’re in time for the live part😀

Guts, ready for storm😉? Of questions?

Peter Lomb: yeah

Mary | Satoshi Club: Let’s go 🚀

Part 2 — live questions from the Telegram community

Q1 from Telegram user @cryptonation2

is your project listed on cmc and coingecko?

Roberto Cioffi:Yes 🙂

Q2 from Telegram user @lahkoklu

Is $8PAY token already registered on DEX or CEX?

Roberto Cioffi: We don’t have CEX. But you can find us on DEX 💪 :

🥞 Pancakeswap: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xFeea0bDd3D07eb6FE305938878C0caDBFa169042

🦄Uniswapp: https://app.uniswap.org/#/swap?outputCurrency=0xFeea0bDd3D07eb6FE305938878C0caDBFa169042

Bilaxy https://bilaxy.com/trade/8PAY_ETH

Q3 from Telegram user @surendra040

Could I use 8Pay for my real life day to day activities? what is its usecase in real life? I would appreciate a guide or tutorial video would help me @RCioffi

Roberto Cioffi: To understand how 8Pay works you can try our demo on from our website 8pay.network or follow the guide from this article https://medium.com/8pay/8pay-demo-on-binance-smart-chain-d1e9e0f85a9d

Q4 from Telegram user @boradam

Right now if someone pays with a stolen credit card to youtube or to another subscription service, the real card owner can get his/her money back. If a hacker gets a wallet or funds and pays with them using your service, will there be anything you can do about it?

Peter Lomb: This would mean that users lose their PrivateKey, but we could integrate systems that detect adrees used for fraud and automatically blacklist them.

Q5 from Telegram user @JoxesXIII

What crucial use cases does this platform work for for payments? what would be the difference between using 8Pay and a common transfer in BNB or BUSD?

Roberto Cioffi: 8Pay has as the main feature the possibility to subscribe to services and lets merchants to automatically withdraw funds from your wallet every fixed or variable period. This is not possible with common transfers

Q6 from Telegram user @BJosefina61

Today the resale of services such as VPNs, Netflix, Disney + is very common on the internet, can 8Pay sell these services? or do you meet any restrictive compliance?

Peter Lomb: Of course we can, 8PAY was created precisely for needs like these and this will be our main goal for automating recurring payments in the future.

Q7 from Telegram user @smelekin

How will recurring payments system can work? I understand the first payment but for next payment how can you transfer the money from my wallet?

Roberto Cioffi: When you subscribe to a service, you give the allowance to another wallet to withdraw the funds to your wallet. So the merchant will be able to charge you every time period 🙂 Then the merchants need to use our sdk or the autobiller to automate this process

Q8 from Telegram user @atillayeni

Why don’t you have any plans for integrating fiat? What is the idea here?

Roberto Cioffi: Integrating fiat means to lose the full decentralization and the possibility to use 8Pay without KYC. This will drive us far from the blockchain core principles and also our principles

Q9 from Telegram user @Guandog

How can merchants take full advantage of the 8pay features, that is, will there be some type of advertising board, list of profiles, reputation system and other social interactions so that the consumer is well informed?

Peter Lomb: Especially for merchants, they will be able to save their development expenses by using our automatic biller, paying for it in 8pay tokens.

In the future, many functions will be integrated including the ability to insert feedback about the experience that each user has had, whether merchant or customer. We are born as a reality based on a solid PROJECT and TRUE we are not a speculative token, we still have many things to do, we have been live for a few days but the high number of Holders is giving us a lot of satisfaction for all those in whom they believe and will believe in 8pay.

Q10 from Telegram user @highpee

Some users have been complaining on your twitter posts and Telegram channel about potential risk and how you block them for rasing security concern. Why is the IDO on BSCPad generating so much controversies? I know we have ‘fudders’ who may spread negative misconceptions, but do investors have any legitimate reason to be worried or afraid?

Roberto Cioffi: FUDders are everywhere and they try to generate negative misconceptions, but actually we focus more on the project and to give trust to the investors rather then waste our time with them. We have released an article on medium about that https://medium.com/8pay/project-update-post-launch-progress-and-staying-safe-when-swapping-8pay-80de0bcc08a6

Furthermore, as I said before, to be consistent with the “trustless” concept we have also decided to lock the LP tokens of Uniswap and Pancakeswap on https://unicrypt.network/, this not only gives guarantees to the investors and supporters but also show the committement of the team.