Main / Press Releases / JOYS project press release. The cryptocurrency market’s analysis shows that this project is unique.

JOYS project press release. The cryptocurrency market’s analysis shows that this project is unique.

14 June 2018

The biggest problem for almost each provider of cryptocurrency payment services is violation of most countries’ laws. That’s why they have complicated relationship with banks and payment systems’ operators. The merchants’ second big problem is the necessity of installing new cash register equipment or the lack of automated registration of sales and payments made using cryptocurrency. And, finally, the third problem is how restricted are spheres applicable to the existent solutions for business.

Joys is a payment service that allows conducting legal transactions when using cryptocurrency to pay for goods and services in any store.

Joys represents an open global blockchain platform where almost any cryptocurrency or token can be used.

How does it work? At first sight it looks pretty simple, but be sure – it is a complicated process. A store sells some merchandise or a service for rubles (if we are speaking about Russia), once it is sold it receives rubles for it and pays taxes, as usual. The buyer pays with cryptocurrency using Joys’ processing, while Joys receives a certain commission. The service is built into the seller’s cash register software, adding one more payment option. The transactions in this case are completely legal.

Joys has a perfect solution: merchants receive fiat payments in compliance with local laws. And thanks to many partners the processing of payments through various jurisdictions is quite fast.

Joys allows for making legal purchases with cryptocurrency using technologies of digital coupons, bonus programs, etc. The cryptocurrency market’s analysis shows that this project is unique.

Joys team are building an infrastructure with an open API: no bank, payment system or regulator can block it. The project’s source code will later be available for cryptocommunity, allowing anyone to take part in the project’s development.

Joys is integrated into the stores’ POS system providing conventional business logic of sales. “We are building an infrastructure that is independent of international payment systems like VISA, MasterCard, UnionPay, or others, while at the same time we combine infrastructures of other projects, such as International Payment System “123”. And by that we guarantee ourselves a competitive advantage! As of today, about 25% of cash registers in Russia have Joys built in, and thanks to the API the number continues to grow. 50% of gas stations in Germany use Joys software, allowing you to pay for gas with any cryptocurrency. Moreover, a huge amount of hotels and restaurants, mainly in Europe, also use it.

It’s a great start for successful implementation of all Joys’ plans. All transactions are conducted with JOYS, thus ensuring its wide distribution. And if the buyer uses JOYS to pay for the goods, he won’t have to pay any additional transaction fees. It’s a great starting point towards our main goal: being in each cash register in the world”.

The initial total emission of JOYS is 10 000 000 000. No more than 5 500 000 000 will be sold during the ICO, the rest will be distributed in accordance with the White Paper and a small part of the remaining 4 500 000 000 will hit the market. By the end of 2019 the emission of JOYS from mining will have reached 21 024 000, which is 0,15% of JOYS monthly demand and won’t have significant impact on the market demand for JOYS. All the above calculations do not include using JOYS for investment purposes, which can also reduce their amount on the market. The project’s team has successfully taken part in numerous conferences related to cryptocurrency market and economy. One of the latest ones has been St. Petersburg International Economic Forum.

Public ICO starts on June 21, 2018, with the starting token’s price of $0,035.

In order to have an opportunity to actively develop the project on a global scale, the team expects to raise $125 million during its ICO. The amount is rather big compared to all the other ICOs. Such confidence is justified taking into account the fact that the service is already operating and is integrated with a lot of partners – manufacturers of cash register equipment and software. Nowadays we are not able to use cryptocurrencies in our everyday life, we cannot use them to pay for ordinary goods without certain difficulties. If the project manages to solve this problem, then its tokens will be in constant demand.

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