JOYS - We Transform Digital Money Into Real Goods
Hello everyone in this article I will present an interesting ICO analysis, called Joys, based on some of the following criteria:
What is JOYS project?
Jоуѕ iѕ аn ореn global blockchain platform that integrates blосkсhаin рrоjесtѕ аnd crypto-currency into thе сlаѕѕiсаl real economy.
Benefits dеrivеd frоm inсrеаѕing ѕаlеѕ аt thе expense оf new сuѕtоmеrѕ with сrурtосurrеnсу, уоu саn invеѕt in уоur оwn blосkсhаin dеvеlорmеnt based оn thе experience of working with Joys. Thiѕ will save thе buѕinеѕѕ from еrrоrѕ and will рrоtесt invеѕtоrѕ frоm invеѕting budgеtѕ for rеѕеаrсh and development оf blосk projects.
Jоуѕ uses tесhnоlоgiеѕ thаt help tо kеер the legal рuritу of using Crурtо- currency in sales аѕ muсh as роѕѕiblе under the аррliсаblе law. Jоуѕ рауѕ special аttеntiоn to lеgаl iѕѕuеѕ tаking intо ассоunt the legislation оf the соuntriеѕ whеrе thе рrоjесt will bе рrеѕеntеd.
How does Joys work?
For other projects and their cryptocurrencies/tokens
Projects with their own crypto currency can ensure its reception in any store connected to the system. For example, the project has its own crypto currency, which you can pay only for renting servers in a certain data center. When integrating with Joys, you can pay the same crypto currency for coffee in a neighboring coffee shop or for gasoline at a gas station on the way to work. The same applies to projects where there are bonuses, game or domestic currency. We approach each integration individually, taking into account whether the project has its own cryptocurrency or tokens, whether they are traded on the exchange, etc. To do this, we provide access to the Joys API or widgets for an application or site.
We perform integration into the POS-systems of stores in such a way as to provide the usual business logic of sales — there is no need to install new cash software or equipment. When new cryptocurrencies appear in the arsenal of Joys’ platform, the system allows not to change integration solutions with POS-systems. At the same time, we are building our own infrastructure of integration into POS-systems, without laying the infrastructure of international payment systems, such as VISA, MasterCard, Union Pay or others, in the basis of the project. But we do not exclude the possibility to use the capabilities of the IPS to ensure the interests of our users and customers. For those countries where it is forbidden to pay in cryptocurrency in stores, we offer two processing: through bonus points to pay for part of the purchase (this processing is already ready and working) and through prepaid cards and digital coupons for full payment of the purchase. The system is shown in the diagram below.
- Before making purchases, the buyer creates a settlement wallet in the Joys
application or in the partners’ applications in the crypto currency that he wants
to use for purchases. He replenishes this wallet.
- A check is formed at the cashier as usual.
- The buyer is identified at the cashier in the POS-system: the seller reads the
QR-code from the screen of the mobile phone.
- The POS-system transfers the generated check and the buyer’s ID to Joys via
the encrypted channel and signs them with the digital signature of the cashier where the purchase is made.
We integrate the Joys payment module into POS-systems of stores: it provides the usual business logic of sales for the seller in the cash register software. This helps to avoid possible restrictions from the side of regulators, banks and international payment systems. At the same time the system is able to work with any crypto currency. Thanks to this decision, people will pay for purchases in different crypto-currencies, and shops will receive exactly the currency with which they want to work on their crypto-wallet (in those countries where it is legal) or Fiatic account.
If the project has its own cryptocurrency, which can be used to pay, for example, only the rental of servers in a particular data center or to reward for articles they liked, Joys will make possible paying with the currency for coffee at the nearest coffee shop and for gasoline at the gas station too. Projects with their own crypto currency will be able to ensure its acceptance at any store connected to the system. Any project where there is the internal currency, will get its conversion into Joys' crypto currency using our platform.
Buyers can pay for purchases through Joys mobile application or use other wallets. Today, to do this, you need to embed the Joys module in the application - but we are already working on removing this restriction and on letting use Jaxx, Coinomi, Ethereum Wallet or any other wallet out of the box and without modifications. To pay for a purchase, you need to scan the QR code at the checkout (Code 128 or PDF417) from a smartphone screen.
To accept such payments on the Internet, trading platforms can build a special widget into their site.
Joys is an open blockchain platform using which you can pay a part of or the entire purchase price with any crypto currency - all over the world and absolutely legally.
Initial allocation of JOYS
Creating the blockchain network, 10,000,000,000 (ten billion) JOYS were issued.
Total will be placed on the stock exchange 5`500`000`000 (five and a half billion) JOYS, which is 55% of the emission. Of these, 500,000,000 (five hundred million) to the Private Round, 1`500`000`000 (one and a half billion) to pre-ICO, and 3`500`000`000 (three and a half billion) to ICO.
2`800`000`000 (two billion eight hundred million) JOYS - 28% are reserved for partner-projects and will be issued in accordance with the decision of a specially created expert council. The Board is headed by the Joys CEO, who personally approves and bears responsibility for monitoring targeted use of the JOYS coins allocated to projects. The reserved JOYS will be allocated for the development and joint promotion of Joys with projects of the partners in the following areas:
- 5% in finance;
- 5% in e-commerce, recommendation services;
- 5% in social networks;
- 5% in media, content;
- 8% in the Internet of things.
The remaining 1`700`000`000 (one billion seven hundred million), precisely, 17% of the JOYS issue, will be distributed to the bounty program 200`000`000 (two hundred million, 2%) JOYS and the project team 1`500`000` 000 (one billion five hundred million) JOYS.
The JOYS intended for the project team are stored in the project wallets and will be distributed to the team members within two years of the smart contract after the completion of the ICO, taking into account the success and goals identified in Roadmap and White Paper under the guidance of our escrow agent Andrey Grachev, Vice President of the Russian Association of Cryptocurrency and Blockchain.
The volume of JOYS that have not been distributed over the previous rounds will be transferred to the next ICO round at the price of the following round. The JOYS coins that had not been distributed by the time all ICO rounds are complete will be transferred to the project team’s fund and utilized to attract and motivate new team members.