With the the launch of Safein comes a service which is allowing users to obtain the Electronic Money Institution (EMI) license in the EU, covering crypto and fiat payments. Although the standard necessary documents would need to be provided upfront by those who use the app, Safein’s service stores this data to be recalled when the user makes any further online transactions.

The e-commerce industry is struggling to provide solutions to the various challenges of cybersecurity that it faces, but Blockchain innovations such as Safein may well provide an answer. Both the problem and the allure of internet trading is the anonymity it provides. This anonymity creates an issue for trading platforms who consistently require identification to ensure user protection for their clients.

As well as being time consuming and a hassle for the clients, the merchants themselves suffer financially by proving these security services. Market research shows that onboarding new users can cost an online service provider up to 20 USD per new customer joined, with a total annual bill for identity assurance exceeding 3.5 billion EUR in the UK alone. Further substantial investment is required by the merchant to properly collect, manage and store the personal data collected.

The Safein Mission

Safein is a single sign-on digital identity and payment wallet, pioneering a change in the way clients pay, register, and complete identity authentication. Safein allows the user anonymous access across the online platform, creating total control throughout transactions, with an easily accessible process to permanently revoke membership of the application. The Safein platform will allow users to see their entire activity history, including registrations, logins, and payments.

The application offers the service of storing finances in traditional or cryptocurrency forms. Safein will automatically convert and deliver funds in the users preferred way. Since all transactions are undertaken by Safein, the time taken to process transactions is reduced, as well as limiting fees for the client. For those interested interested in learning more about the services the platform provides, or participating in their crowdfunding, individuals can access their official Telegram.

Safein Architecture

Safein was created to allow users to store their identity, as well as crypto and fiat currencies in accounts opened with the platform, with the primary goal to eliminate redundant registrations and KYC procedures.

Coinciding these services, Safein seeks to standardize crypto payments on all e-commerce websites. Currently, there is no single large-scale Payment Service Provider which accepts both, fiat and crypto payments. Safein offers a resolution to this by allowing its users to pay for transactions directly using their Safein wallet, regardless of the currency held in their account.

Safein has just released their MVP (Minimum Viable Product) which can be tried out on their website. It allows potential users to create a verified account and tie it to their mobile device, as well as allowing access to a few of Safein’s demo websites. This application is one of the only current TGE’s with a live version of their MVP , with Safein whitelisting begining on March 1st. You can try the MVP live here on the Safein MVP Registration page.

The SFN Token is native to the Safein network providing users with 100% free payments for merchants who hold SFN, offering monthly cashbacks for users paying with Safein tokens. This enables users to use a Login pool to incentivize the use of Safein among other websites, as well as a registration and referral pool that rewards new users. Safein’s current endeavours are targeted at quickly expanding their user base in preparation for a successful launch.

The Safein Token Generation Event

The Safein TGE is set to go live on April 25th. With an TGE soft cap of 4,000 ETH and a hard cap of 12,500 ETH. The rate for SFN tokens is 1 ETH = 7,000-9,000 SFN. Safein will hold a bonus round, and distribute tokens accordingly.

For more information, visit the SafeIn website: https://www.safein.com\

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