![otp.PNG](https://steemitimages.com/DQmUUCfHYArUVww4QpHi8wWqEhGayTY27BMHGWM8fqLpqfA/otp.PNG)

# Introduction:
2017 was a year for cryptos. We got to see a lot of cryptocurrencies being launched. While some of them succeeded more than their expectations, whereas most of them failed. The craze of the cryptocurrencies can be seen by the fact that the trading volume has skyrocketed on various crypto exchanges across the volume. People have started using exchanges for converting fiat currencies to crypto.

In a more futuristic approach, OTPPAY is launching a platform that will that solely aims to enrich the crypto market by bringing down the transaction fees. Apart from lowering down the fees, OTPPAY also aims to bring the crypto transaction into day-to-day life. For example, imagine buying a cup of coffee using cryptos. I can guarantee you that the way Bitcoin transactions are taking time to get confirmed, it is simply not feasible to implement the idea of bringing crypto transaction into daily life.

# About OTPPAY – The Payment Platform:

OTPPAY aims to solve a really exciting problem. The way technology is working behind the settlement and conversion of fiat currencies like USD and INR to cryptocurrencies, the current solution is yet not feasible. On the OTPPAY payment platform, a smart engine will be created which will enable swift conversion between cryptocurrencies and fiat money.

Apart from the exchange, buy and sell of cryptocurrencies, the users will also be able to use latest technologies like QR code and NFC to pay to other people. These technologies can make the idea of using cryptocurrencies for transactions in daily life a possibility.

The OTPPAY payment platform will have several features. Some of them are mentioned below: -

 a)Buy and Sell – Users will be able to buy and sell cryptocurrencies on the platform with minimal effort.
 b)Exchange – The users will be able to exchange tokens with fiat-money and vice-versa.
 c)Send and Receive – Users will be able to send and receive tokens through the OTPPAY mobile app.
d)Debit Card
 e)QR Based Payment system for Merchants.
 f)NFC based payment system
 g)Lending platform.
 h)Crypto Credit Rating validation charges – Through the CCR services, lending will be provided to the users. The score generated through CCR will be used for this purpose.

![opt2.PNG](https://steemitimages.com/DQmUswHfQw1nAeXC5YWv9tgAgd7LqXXVyBUmQomi55JVnFi/opt2.PNG)

# Business Model:

The business model of OTPPAY payment platform is very sustainable and transparent. OTPPAY will charge transaction and lending fees for different services that they will provide over their platform. This includes: -

 a)Buy, sell and exchange commissions
 b)Payment gateway charges for merchants.
 c)Lending interest.
 d)Crypto Credit Rating validation charges.

![otp4.PNG](https://steemitimages.com/DQmZBh8k3oCYU3AZGuX13cv84eqs1n6P1ng2Ayr2AUHBXr6/otp4.PNG)

Ease of transaction and hassle-free crypto to fiat-conversion make OTTPAY a really sweet deal.

# Tokens and ICO:

OTP Tokens will be utilized across the platform for financial transactions. These OTP Tokens will be used along with other cryptocurrencies and fiat-money. As stated in the OTPPAY whitepaper, the value of these OTP tokens is guaranteed to increase because of the mechanism followed through which the fees occurred on the transaction of these tokens will be added back. Out of the total revenue generated, 0.10% will be used to buy back the tokens which will be destroyed, thus resulting in the increase of the price.

The fundraising will be done by selling of these OTP tokens through the ICO. Money raised through the ICO will be used to invest in people to make this project a success.

A total of the 1 Billion OTP tokens will be created out of which 60% will be available in the ICO through several phases and 20% will be reserved for OTPPAY management. The rest of the tokens are distributed as follows: -

 The OTP tokens will be based on ER20 platform. The ICO is already live.

![otp3.PNG](https://steemitimages.com/DQmTeLZpAR32ucC87tXFNbK7p2seveW7CRLoE4M16GbNj3z/otp3.PNG)

Funds raised through the ICO will be deployed as follows: - 40% for R&D, 15% operational expenses, 12% for partner engagement, 10% for licenses, 10% for legal purposes and 3% for miscellaneous purposes.

# Concluding Remarks:

The idea of bringing cryptocurrencies transaction in real-life is an amazing idea. The use of Bitcoin is not feasible because of the time is taken in the confirmation of a bitcoin transaction. OTPPAY is a really amazing idea and the out of the box thinking of bringing cryptocurrencies transaction to daily life can be the next big thing.

**For more details visit:**

**Website:** [**https://otppay.io**](https://otppay.io)

**Twitter:** [**https://twitter.com/otppay**](https://twitter.com/otppay)

**Facebook:** [**https://www.facebook.com/Otppay/**](https://www.facebook.com/Otppay/)

**Telegram:** [**https://t.me/otppaychat**](https://t.me/otppaychat)

**White Paper:** [**https://otypay.io/Assets/otppay-whitepaper/OTPPAY\_White\_paper\_v1.1.pdf**](https://otypay.io/Assets/otppay-whitepaper/OTPPAY_White_paper_v1.1.pdf)

**Blog By: Lanirm Knayam**

**BTT Profile:** [**https://bitcointalk.org/index.php?action=profile;u=1308391**](https://bitcointalk.org/index.php?action=profile;u=1308391)