NationPay.io

Cardless, decentralized, KYC-driven, Processer-less Banking Platform and Payment Network

About

Applicant name: Ken Silverman
Innovation Name: NationPay.io
Innovation Type: Solution
Website: http://NationPay.io
Mission: Cardless, decentralized, KYC-driven, Processer-less Banking Platform and Payment Network
Innovation Description: 1) Transfer the promisee in a debit or credit account bank/client relationship without settlement! That means, no processor – that means near-zero fees.

2) Bank-backed promises in the form of tokens allows this patent-pending process to occur

3) Banks can extend credit to clients without Visa, without MC, yet with the more power then those cc companies can offer.

4) Create instant credit transfer from bank to client to merchant up the supply chain to merchant wholesalers.
5) Freeze payment terms in your wallet up the supply chain, no more accounts receivables to worry about, auto-escrow feature is also patent pending.

6) Bank keeps the float to act as collateral for fed bought loans; the core business of any bank – yet the tokens are bing used in the economy. Amazing! Typically, if a user takes out cash, the bank no longer has access to it. WIth NationPay, the bank still maintains the cash in their reserve account and can use it equally as when they have the dollars in a customer account.
Status of Innovation: Concept
Innovation Active Since: 04/21/2017
Applicant Type: Private Company
Headquarter City: New York
Headquarter Country: USA
Year Founded: 2015

Main Category

Main Category Choice: Technology Innovation
Why do you think you should win this category?:
1) why? This is a revolutionary financial technology as explained above. Nobody in the world has designed such an elegant system to transfer credit without settlement and have a KYC base and float mechanism for debit accounts. I am a computer engineer with 20+ years in the space of AI, banking, social media and geo location, debt consolidation and escrow programming. My partner was for the CIFC hedge fund. My advisers include a former partner, most well known AI researcher in the world, and former director of LATAM Latin American Development Bank, and former foreign affairs secretary (minister) of Paraguay.

Patent pending:
Abstract: Value stored in a bank account is just a promise between a bank and a customer or ‘holder’ or ‘owner’ of that promise. The value is represented by an account balance. The balance represents the obligation of the bank to pay to the owner of that account, any portion of that balance upon demand. Currently, in the banking world, there is no way to transfer that promise t … no settlement …

Secondary Category

Secondary Category Choice: Remittances For Social Impact
Why do you think you should win this category?
This technology includes a hybridized decentralized exchange which quite frankly might be the very best possible remittance solution for near zero percent fees, most friction-less solution possible across banks and ATMS on blockchain to exchange value to the unbanked and with KYC wow! and private KY in a transparent blockchain huh? Is that possible? Yup. Only the banks backing the tokens touched by the unbanked get to know who the wallet holders are and only those amounts backed by then are viewable to them. Wow! They can make a .25% fee on those customers? huh? Banks entering the remittance game? Wow! No foreign exchange fees.

Team Members

Full Name: Kenneth Silverman
Role: CEO interim CTO
Linkedin: https://www.linkedin.com/in/ken-silverman-734506/

Full Name: James Yen
Role: Strategic Relations Asia
Link: https://www.linkedin.com/in/james-yen-463b6257/

Full Name: Rubin Ramirez
Role: Strategic Relations South America – former director LATAM development bank Argentina
Link: https://en.wikipedia.org/wiki/Rub%C3%A9n_Ram%C3%ADrez_Lezcano