Project Zephyr

About:

The Zephyr Token provides an easy mechanism to bootstrap the onboarding of additional MTOs into the Bitspark network by rewarding MTOs and new users with Zephyr Tokens for doing economically beneficial activities like sending a transaction, topping up a user's balance or liquidating MTO’s balances. This provides an immediate cash incentive to sign up, which can quickly expand the number of available cash deposit and withdrawal outlets connected to Bitspark. Furthermore, upon every successful transaction, 25% of transaction fees will be used to buyback tokens thereby providing upward pressure on the price creating a positive feedback loop between network expansion and token value. Funds raised through the Zephyr Token sale will support the development and expansion of Zephyr Token usage in all of Bitspark’s existing remittance corridors in addition to the creation of decentralised pegged fiat cryptocurrencies for every national fiat currency in the world, expanding the reach of Bitspark’s remittance network globally and creating the world's first freely tradable market for exotic currencies with zero counter-party risk utilising the Bitshares Blockchain. Bitspark has been a pioneer in the remittance space for three years as one of the first to conduct a cash in cash out remittance payment via Bitcoin in 2014 . Over this time, Bitspark has built a solid 4 product offering being used by MTOs globally and has been recognised by governments, financial institutions and media organisations as a leader in the field of Blockchain remittances. With a dedicated and experienced team guiding development since inception, Bitspark’s goal is to make an impact on money transfers for them to be cheaper, faster and more accessible globally



Intro:

Bitspark is launching Project Zephyr to eliminate banks from the remittance industry by rolling out 180+ fiat pegged cryptocurrencies via the Bitshares Blockchain and making Bitspark’s Money Transfer Operators a decentralised cash in, cash out network worldwide. Zephyr Tokens will be used to reward those who economically benefit Bitspark’s remittance network and 25% of fees from successful transactions will be used to buy back tokens from the Zephyr market.



Milestones:

May 2017

First Bitspark, UNDP, AltFinLab Mission Bitspark, UNDP & AltFinLab Begin Planning Tajik Pilot

August 2017

Announcement Made Regarding Bitshares Switch

September 2017

Bitspark Zephyr Token Pre-Sale Launch

October 2017

Zephyr Token Sale Begins

November 2017

Zephyr Token Ends. Participants issued Tokens

Q4 2017

Tajikistan Pilot - Technical Testing & Validation Tajikistan Pilot - Live Launch. Zephyr token integrated into Bitspark Market Expansion in Tajikistan

Q1 2018

Deployment of Pegged Cryptocurrencies to all Bitspark countries

Q2 2018

Expansion in Bitspark Destination Countries and Beyond.