Roadmap

Introduction

We believe that the way of progress is development of the technology that is supported and adopted by the society. PrepayWay is not mere technology without users. The PrepayWay product is a combination of technological achievements and global networking powered by the community. We are constantly working on the roadmap that reflects our future plans and current progress. Product value creation is not about sticking to a plan, but being able to respond to change.

Roadmap and Token Generation Event (TGE)

The TGE is scheduled for 2019, but the roadmap below does not include the TGE. Why is that? We are planning to undertake our development in accordance with the roadmap regardless of the TGE. We believe that the participants of our equity crowdfunding campaign and of the InBit token presale should have a realistic understanding of our development plans. At the present moment, we deem it reasonable to refrain from speculation about the impact of the InBit token issue on the future development plans. InBit token is a utility token for access to the Ecosystem, not an instrument for investment. We will update the roadmap as and when there is an update or a change in the plan.

Roadmap and Equity Fundraising Stages
Please note that the roadmap assumes successful fundraising stage 1 and stage 2 where the max cap is achieved. If the fundraising campaign achieves a different result timeline may be shifted. All the future functionalities are considered actual in the current technological and legal environments.

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By the time a certain milestone is reached, some options that are presently planned to follow it may become obsolete or other requirements may arise. Future development plans may have to be adjusted depending on amount of funds raised and the changes in the legal environment, technological environment, and business or other requirements.

• 2017-2018

  • Seed investments round successfully closed
  • PrepayWay сore team
    You can see full PrepayWay team here
  • PrepayWay AG (HQ in Switzerland) founded
    See registration at moneyhouse.ch
  • PrepayWay Systems Switzerland AG founded – escrow service provider
    See registration at moneyhouse.ch
  • PrepayWay Systems Estonia OÜ founded
    See registration at e-krediidiinfo.ee
    PrepayWay Systems Estonia OÜ owns and develops 3 flagship products: Elleeo, PrepayWay Real Estate, PrepayWay Global Trade
  • PrepayWay® trademark application and registration
    See registered trademark at euipo.europa.eu
  • SmartArb® trademark application and registration
    See registered trademark at euipo.europa.eu
  • InBit® (token) trademark application and registration
    See registered trademark at euipo.europa.eu
• 2017-2018

  • PrepayWay Ecosystem business logic
    You can download the PrepayWay Ecosystem whitepaper by clicking here
  • PrepayWay Real Estate business logic
    You can download the PrepayWay Real Estate system description by clicking here
  • Elleeo business logic
  • SmartArb business logic
  • Elleeo prototype
    Elleeo project has already reached the functional demo stage. You can view it at elleeo.com
  • SmartArb model clauses published
    SmartArb is an alternative dispute resolution (ADR) service, a new, efficient way to settle disputes. Our model clauses can be incorporated in (international) commercial contracts at the time of contract creation, anticipating the possibility of disagreements that might arise in the future. You can view them at smartarb.org
  • Elleeo fully functional demo
    Elleeo is a platform where lenders and borrowers from different countries meet and transact to make great things happen. In this demo, you will be using accounts of investor and borrower to see different sides of the transactions concluded on the Elleeo platform. Read more about Elleeo or check a live demo.
  • PrepayWay Real Estate contract creation and negotiation process proto closed testing
    The testing was conducted among a group of real estate agencies using a prototype that is currently available online. The goal was to evaluate the usability and to get feedback from the real estate professionals regarding the core process of reservation agreement creation.
• 2019 H1

  • Fundraising stage 1
    PrepayWay is to hold a round of investment through equity crowdfunding where investors will have an opportunity to buy equity in PrepayWay Systems Estonia OÜ. For more information please see our crowdfunding page.
  • SRO membership application
    Financial intermediaries in Switzerland have two options: to be supervised by FINMA directly or to become a member of SRO. To achieve full compliance with regulations, PrepayWay Systems Switzerland AG is planning to file an SRO membership application. Find out more about the Swiss regulations at finma.ch.
  • PrepayWay Real Estate visual prototype
    A prototype* of the core processes of the PrepayWay Real Estate tool will be made available. The mockup will present the design of the main screens. You will be able to view the prototype online and go through the process of creating a contract.
    *A prototype is an early model of a product built to test a concept or process or to act as a thing to be replicated or learned from.
  • Real estate agreement creation process demo version
    Demo version of the main process – the creation of a reservation agreement. Real estate professionals can try out the stages of reservation agreement creation, from initiation to payment. The demo will be available online.
  • SmartArb Rules published
    The SmartArb Rules are based on the 2010 UNCITRAL Arbitration Rules with the inclusion of optional additional clauses to provide parties with more choice to tailor them to their own needs. Significantly, the Rules allow SmartArb to decide challenges to arbitrators and introduce provisions to aid emergency relief and enhance efficiency.
• 2019 H2

  • PrepayWay Global Trade prototype
    PrepayWay Global Trade is an integrated blockchain solution for fast, secure, and convenient international business contracting, from creation to execution. A prototype of the core processes of the PrepayWay Global Trade tool will be made available. The mockup will present the design of the main screens. Once it is uploaded, you will be able to view the prototype online and go through the process of creating a contract.
    More info on the Global Trade tool.
    Leveraging self-executing smart contracts and decentralized storage of transaction data, it replaces the traditional paper- and trust-based system with a fully digital alternative. PrepayWay Global Trade automates contracting and payment processes, reduces transaction costs, and increases transparency, traceability, and efficiency of cross-border transactions in a wide range of industries.
  • SmartArb as a fully functional mediation and arbitration institute
    SmartArb was created to provide alternative dispute resolution (ADR) services. To provide the highest quality of ADR services at reasonable cost, SmartArb is working closely with neutrals and advisors certified by the Chartered Institute of Arbitrators, JAMS, and other well-established ADR institutions. SmartArb has its own model clauses for commercial contracts, and its own set of rules that parties can reference in their business agreements (ex ante) and in arbitration agreements (expost). SmartArb provides ADR services to a wide variety of industries and for many types of commercial dealings. The roster of neutrals suggested by SmartArb also includes experts with knowledge of many legal systems and proficiency in all major languages. SmartArb is developing special expertise for disputes arising out of smart contracts.
    Benefits for users (compared to traditional litigation):

    • More friendly - preserves business relationships
    • Faster - resolves disputes faster and has no appeals
    • More professional - relies on neutrals who understand your business
    • Confidential - preserves the confidentiality of business deals
    • More trustworthy - does not put you at the mercy of foreign judges
    • Cheaper - well designed, saves time and money
    • More accessible - works with your own attorneys and can be all online
    • Enforceable - arbitration awards are enforced in over 150 countries
    • More successful - ADR is preferred by over 90% of international lawyers
  • Elleeo MVP
    Elleeo is a platform that connects lenders and borrowers from different countries and opens unlimited opportunities globally. MVP stands for a minimum viable product – a product with just enough features to satisfy early customers, and to provide feedback for future product development.
    The most important advantages for borrowers:

    • The process is more transparent, easier, and quicker than with a bank.
    • It gives you the flexibility to tailor borrowing conditions to your requirements.
    • It provides you with a large pool of funding from investors who want to see you succeed.

    The most important advantages for investors:

    • Comparatively attractive return opportunities compared to standard bank deposits.
    • Easy to achieve risk diversification thanks to low minimum investments.
    • Automated investment according to investors parameters possibility using our InvestBot function.
    • Overall management of the loan arrangement (credit check, documentation, payment processing and collection) is carried out by the platform operator.
    • More exclusive options and functionalities that we will announce closer to the launch of the platform.
• 2020 H1

  • PrepayWay Real Estate MVP
    PrepayWay Real Estate is an online contracting and escrow tool that makes the real estate reservation process direct, flexible, transparent, and secure. It minimizes need for trusted intermediaries and prevents fraud losses. Use our valid contract templates to draw up contracts, sign them digitally, choose between fiat and digital currencies, and enjoy full protection of your reservation deposit stored securely on the blockchain.
    Benefits for market participants:

    • There is no need to be physically present at the location of your dream real estate.
    • Clients can reserve properties safely and fast from the comfort of their own home.
    • Our legal agreement templates in multiple languages save time and money that would otherwise be spent on translations and lawyers.
    • Transactions in both fiat and digital currency are supported.
    • Security of earnest money deposit. If the property is not as described, or the deal falls through the fault of the seller, the earnest money is automatically returned to the buyer.
    • Efficient dispute resolution. Our network of independent certified mediators and arbitrators deliver fair mediation and arbitration services remotely, quicker and less expensive than litigation.

    
    As it is an MVP (MVP stands for a “minimum viable product” – a product with just enough features to satisfy early customers and to provide feedback for future product development), the following functionalities will be implemented at the later stages:

    • Smart-contract functionality. Smart contracts will be implemented to ensure security of deposits. Smart contracts initiate the release of the deposit automatically only when the contractual terms and conditions are met (upon confirmation of notarial transaction in case of purchase or upon the tenant getting access to the property in case of rent).
    • Possibility of global collaboration. Our platform will allow real estate agencies who never did business with each other before to enter into partnerships for referral of clients. Through PrepayWay, brokers and other market participants around the world will exchange information about available properties and refer clients to each other with confidence.
    • Automated referral commission payments. Real estate agencies can build networks and safe partnerships with like-minded professionals abroad with commissions for referrals transferred automatically. Self-executing smart contracts verify and trigger commission payments once conditions of the agreement have been met.
    • Country-specific legal templates. In all the regions where we will operate our users will have a possibility to conclude a reservation agreement using the language that they understand*.
  • Multilingual country-specific legal templates
    Our legal partner network will prepare a set of agreements for all supported regions so that our clients can enjoy safe, fast, and convenient process of real estate reservation.
  • Fiat-crypto gateway framework
    Our users will have a possibility to safely use fiat money for concluding smart contact based agreements without any risk of cryptocurrency rate fluctuations. The framework will allow traditional businesses to benefit from smart contracts: from an end-user perspective it will look like a pure fiat-fiat agreement.
  • Crypto-crypto gateway framework
    Our users will benefit from a possibility to conclude a reservation agreement in a variety of cryptocurrencies, not limited to InBit or Ether.
• 2020 H2

  • Fundraising stage 2
    Next equity fundraising rounds are planned for the further development of the products: PrepayWay Real Estate, Elleeo, SmartArb, and Global Trade. Terms, conditions and possibilities of investment will be published on our official webpage.
  • Beta version and release of PrepayWay Real Estate
    In addition to the core functionalities of PrepayWay Real Estate, users will enjoy the benefits of blockchain and smart contracts, and real estate professionals will be able to collaborate globally with confidence in getting their referral commission. The platform will support multiple regions worldwide and will offer reservation and purchase agreement templates in the official languages of the regions supported by the platform.
  • Beta version and release of Elleeo
    Users will be able to enjoy all the benefits stemming from migration to the blockchain.
    Both crypto and fiat investments are accepted.
    Elleeo will serve as an aggregator, eliminating the need to register on different crowdlending/crowdfunding platforms. Registering on Elleeo alone enables users to participate in the offerings of different platforms.
    Integration with PrepayWay Real Estate and PrepayWay Global Trade.
  • Beta version and release of PrepayWay Global Trade
    In comparison to the limited functionality of the MVP, the beta version will give users enough flexibility to conclude any deal involving trade in finished products.
  • SmartArb regional offices in EMEA, APJ, NCSA
    SmartArb will open regional offices in all the three regions in order to be able to offer its services globally.
• ...

  Further Development (strategic long-term overview)
  
  

  • PrepayWay Real Estate
    One of the directions for strategic development the company is considering at the moment is the creation of APIs/plugins for main CMSs/open source platform for real estate professionals for the management of properties for sale/rent. Clients will have a choice to either create their own website or integrate into the existing one. Brokers who work with international real estate will be able to collaborate easily by defining the conditions of collaboration (referral rate) and the specifications of the properties. The platform will show all the properties that match the criteria. The platform will facilitate a smoother reservation process: when all the properties are managed using the same API/Plugin/OSP, a reservation agreement can be created in 2-3 clicks.
  • Elleeo
    We see Elleeo as a place where people can invest and obtain financing in a few simple steps, while having the whole scope of investment/fundraising possibilities at their disposal. It should unify all the investment possibilities available on the market, so it will act as an investor crowdfunding and crowdlending gateway to the main platforms on the market. It is evident to us that the variety of products should be wider: rather than being limited to personal or business long-term loans secured by collaterals, it should include factoring and short-term consumer loans and equity investment. Elleeo will be looking into attracting professional institutions, both investors and service providers in certain regions.
  • PrepayWay Global Trade
    We believe that global trade as a process can be significantly improved. The best case scenario we envision and target is entire international trade deals, from start to finish, facilitated by PrepayWay Ecosystem. We envision a perfect system that, after concluding a contract, offers insurance, reliable carriers, customers brokers, and other supply chain providers, with all the “paperwork” of the process governed by a single contract. This will eliminate the exchange of hundreds of email, bills of lading, letters of credit, etc., since all the participants of the process (which may include more than 30 individuals and organizations) will have a single point of interaction – PrepayWay Global Trade.
  • SmartArb
    We realize that with the coming of new technologies, the ADR process will inevitably evolve. We are committed to dedicating time and resources to R&D in order to improve the current procedures and to develop new approaches to mediation and arbitration, making it more cost and time efficient. In order to achieve that goal, we plan to collaborate with the service developers in order to work out the guidelines/framework for designing new products where dispute submission for ADR would be integrated and done in the most efficient way possible.
  • Other services integration
    We realize that our Ecosystem is far from complete. We are looking into integrating more and more service provides, such as insurance services, financial institutions, carriers, expert agents (oracles), rating agencies, and other service providers.
  • Proprietary blockchain
    At this point, no single DLT (distributed ledger technology) exists that would satisfy all the needs of PrepayWay Ecosystem. If by the time that all the core components of the Ecosystem are up and running such technology still does not exist, PrepayWay may look into the development of its own DLT solution.