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SafeIn is a Lithuanian based project that is the world’s first wallet with an EMI license (Electronic Money Institution) that allows the company to cover both crypto and fiat payments within the European Union. SafeIn’s main goal is to reduce the amount of registrations and KYC checks to just one: theirs. And from there, users should be able to use that data whenever they are using any online service. Currently, users can visit the Safein website to sign up and download the app to try out the service themselves.
A service allowing for consumers to only have to sign up for things one time could have massive implications on the still growing e-commerce industry. While e-commerce has become a sector to stay, there are still improvements that need to be made in terms of data protection, cybersecurity, and money laundering just to name a few concerns holding back the sector from growing larger amidst a global market.
Customers Benefit, But So Do Merchants
Not only would a service like this make the experience more convenient for the consumer, merchants have upsides as well, with market research showing that the onboarding of new users can potentially cost a provider up to $20 USD per new customer, with a total annual bill for identity assurance exceeding 3.5 Billion EUR in the UK alone.
Other prohibitive costs include the massive amount of resources required to properly collect, manage, and store this personal data, as well as the damages that could happen if a successful database hack or leak would happen. With more business moving online, this is becoming a larger concern with even retail giants like Target suffering from these kinds of attacks.
SafeIn To Be a One-Stop Shop
SafeIn looks to not only secure users identities, but offer them a one stop shop for the ultimate experience. From logging in anonymously to the platform, to being able to pay in their choice of funds with minimal conversion fees, complete control on how they spend, to permanently revoking access if need be at the push of a button. Users can even see complete activity history, everything from registrations to logins and payments.
The Safein TGE will go live April 25th, with a 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. Users will be provided with 100% free payments for merchants who hold the SFN token. Monthly cashback rewards are paid out to users who user the token, and it also enables users to use a login pool to incentivize the user of Safein among other websites. A registration pool will reward new users for signing up, and a referral pool to accelerate growth of the user base.
Whitelisting for the TGE will begin March 1st, but users are able to try the product before they buy it, so to speak. That gives users 2 months to try out the product and register before participating in the TGE, with bonus rounds that will be handled accordingly as well.
Visit the Website: https://www.Safein.com
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