1.Technological ideas

Chynge's solution is a combination of Fintech (technology in finance) and Regtech (regulatory technology). Fintech brings efficiency in cutting money transfer fees while Regtech, with a combination of business rules and artificial intelligence / machine learning, will reduce the risk of money laundering, financial terrorism and fraud.

Chynge created an ecosystem that includes:

- Token

- Research and development team

- Community leaders

- User

- Partners

Separate main features:

Chynge will provide a fast, secure and free money transfer solution:

+ Chynge.net - Distributed ledger allows an immediate money transfer

+ "Liquidity pools" support transactions that take place at no cost

+ Intelligent consensus mechanism helps secure transactions.

Chynge blockchain applications cover the following areas:

- Application of money transfer in wholesale and retail business

- Combined with other applications of the company for the purpose of transferring money separately through Chynge. Connect

- Application of e-commerce via telephone

Development Team

Chynge team

Joe Tusin _ Founder: Over 30 years of experience in technology and financial analysis, much experience in management, start-up and large technology companies, cloud business management in Microsoft Asia - Pacific.

Christopher Tan _ Chief Technology Officer: 20 years of experience in technology; Experienced in large corporations such as IBM (nearly 10 years), Lenovo (nearly 2 years), SAP

Aaron Lee_ Legal adviser, supervisor: work for 2 years in the Singapore Transport Ministry as a policy advisor; 2 years of experience as a head of supervisory and legal affairs at Commerzbank; 6 years of experience as a supervisor at HSH Nordbank Singapore Branch.

Franz Lye_Manager of new markets

Experience in Swedish bank; nearly 7.5 years of experience in the banking sector; 11 years of experience in customer relationship management

Nazrin Mahdi_Chynge Brunei Management

9 years as a real estate manager

Shiba Kiyotaka_Manager of Japanese Chynge

Chief Executive Officer at SkyLimited Accounting

Vincent Bowey_Manager of UK Chynge

Nearly 6 years of experience in major banks (Citi, HSBC, Wells Fargo); three years in Pwc (North America), eight years in marketing as a manager, currently managing Knowledge Network International which is a merger and management consulting firm.

Andrew Dart_Manager of Australia Chynge

More than 30 years of experience in insurance; experienced in various fields such as information technology strategy, analysis, business process management and fraud management.

Ben Pwee_ Manager of Hong Kong Chynge

Managing Director at I-deo Asia

Louis Larry_Manager of Singapore Chynge

Founder and director of many companies in Indonesia

Web Indonesia: The first web hosting company in Indonesia

PadiNet: The first company connects with Surabaya, Indonesia by wireless

Infinys: The biggest Microsoft partner in Indonesia.

Adviser

Nizam Ismail

8 years as a prosecutor at the Singapore Ministry of Finance; 6.5 years of experience as a deputy director, a head of policy at the Central Bank of Singapore; Co-Founder of RHT Monitoring Solutions is a legal consulting firm, providing risk management services in South Asia.

Martin Roll

9 years of experience in accounting department management in Denmark; experienced in global business strategy, a consultant for more than 500 companies and caves in Asia, the author of "The Future of Branding" (2016) - the best-selling book of the "Asian Brand Strategy" (2015). , a lecturer at the Nanyang Economic University in Business Administration (MBA) and an Executive Master of Business Administration (EMBA)

Cheng Teck Lim

Responsible for various positions at Standard Chartered Bank for 28 years. Cheng Teck Lim has served as a vice president of Standard Chartered Bank Asia.

Malick Sy

Professor of Finance at RMIT University

He is skilled in data mining, artificial intelligence practitioners and coding experts.

Richard Christopher

Richard Christopher

29 years in the Ministry of Defense. He is now the director of Green Ravolution.

Partner

2. Roadmap

3. Present Products

- Chynge.central: This is a unified environment for money transfer including Front office, Middle office and Back office. This is a payment solution using regtech technology to minimize legal risks such as money laundering, financial terrorism.

connect : Allows users of Chynge to use to build in-app according to their needs without having to use Chynge's app. Chynge.net provides open banking solutions such as Paynow in Singapore, Promptpay in Thailand, PSD2 in Europe ... Allowing to build in-apps on Chynge.connect allows Chynge to expand its business through non-direct channels.

net will upgrade Chynge.central from a distributed application to a decentralized application

Chynge.Net combines 3 main elements

Blockchain (using blockchain steller)

+ dApps (the interface allows customers to build apps like Chynge.Central, Chynge

apps and apps partners via Chynge.Connect to interact with blockchain)

+ Token XCLP is a payment token capable of storing value and is an intermediary for exchange

Social will offer other solutions in the Chynge system including Chynge.Net blockchain combined with Chynge.connect and dApp interfaces. This allows cross-border payments to be seamless and fast.

4. Community

- Telegram: 11581 members

- Linkedin: 92 members following https://www.linkedin.com/company/chynge/

- Facebook: 132 members following https://www.facebook.com/chynge/?ref=br_rs

- Medium: 3100 members following https://medium.com/@chynge

5. Token distribution, sale policy, token allocation

Token name: Chynge Liquidity Pool Token

Allocated tokens:

+ 5% for the community (40,000,000)

+ 10% bonus (80,000,000)

+ 15% team and mentor (120,000,000)

+ 70% ICO (560,000,000)

- First additional issuance (not earlier than 1/12/2018 and not later than 01/20/2019): 800 million

- Second additional issuance (not earlier than 01/07/2019 and not later than 01/10/2019): 800 million

- Additional issuance (not earlier than 01/20/2020 and not later than 01/05/2020): 800 million

- Vesting policy:

+ Private sale: 3 months or longer

+ ICO bonus: 90 days after the ICO ends or longer

+ Community: No lock

+ Crowd sale: No lock

6. Contact information

- Official Web: https://chynge.net/

- E-Mail: info@chynge.net

- Telegram: https://web.telegram.org/#/im?p=@chynge

- Linkedin: https://www.linkedin.com/company/chynge/

- Facebook: https://www.facebook.com/chynge/?ref=br_rs

- Medium: https://medium.com/@chynge

Conclusion

Advantages

+ Team of advisers have extensive experience in the banking sector. They have broad knowledge of finance and management. Most of them have worked in the state apparatus (defense ministry, central bank) and hold important positions, which makes it possible for Chynge to obtain a license to operate in other countries.

+ The project builds a fast, low cost (progressive to no charge), secure and 24 / 7 money transfer service. It is the combination of speed and safety of blockchain technology as well as the law compliance of the traditional methods.

+ Chynge's products are widely applied to individuals as well as business organizations; Chynge allows users to create apps based on their needs that will help Chynge's network directly and indirectly.

+ Chynge can link with large traditional money transfer institutions in other countries and regions to expand its network.

+ Chynge has been licensed in Hong Kong, Singapore, Brunei, the United Kingdom and the United Arab Emirates. Currently, Chynge has been able to operate in these countries. Chynge has opened branches in such countries as Singapore, Hong Kong, Brunei, Indonesia, United Kingdom, United Arab Emirates.

+ Website with clear, detailed and easy to understand roadmap. White paper is presented in detail with explanatory examples and divided into clear sections.

Disadvantages

+ The transfer fee will only go up to 0 when Chynge gains business advantages. This depends on the trust, acceptance and use of the community service.

In addition, zero transaction fees are achieved when there is an ideal balance of the total transaction value to and from a Nostro account located in one country. When this balance is broken, Chynge will be at risk. If this balance is broken for a certain time, then Chynge's ability will not be able to maintain the transfer system between the two countries anymore.

+ Legal compliance is a plus, but it is also a limiting point in the development of the Chynge project, which is subject to the laws of other countries.

+ Applying for a license in countries need more time, effort and procedures. It depends on the law and Chynge's relationship with the countries that Chynge need a license

+ In order to carry out the money transfer, Chynge needs to open a Nostro account in other countries, which means that if Chynge does not open a bank account in a certain country, it will not be able to transfer money to these countries.

Rate from ICOgens.com

HYPE RISK ROI TERM ICOGENS’ SCORE MEDIUM HIGH MEDIUM SHORT MEDIUM

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You are reading [ICO REVIEW] CHYNGE - World's first payment token with no FX risk from the section ARTICLES.

Source: Icogens.com