SAFEIN

Problems in e-commerce

Rapid growth of e-commerce remains unstoppable. However, the industry itself is still ripe for improvements as growing concerns mount over data protection, cybersecurity, money laundering and monopolization of numerous sectors. Moreover, shopping online is not only troublesome, it’s also redundantly complicated. Think, for example, of all the repeat
registrations, verifications and password recoveries trailing the daily online customer experience.

We believe that outdated technology is to blame for almost all of these problems. Accordingly, we think it’s about time to fix this by embracing a modern way of managing your online identity and the shopping experience.

Problem

a. Poor User Experience.
b. Lack of Transparency in how user data is managed.
c. Threat to Online Security.
d. Barriers for regulated Bussinesses
e. Absence of A Universal E-Wallet

What is Safein ?

https://safein.com/

SOLUTION

1. Combining The Best of Two Worlds

Data shows that modern internet users have a strong preference for single sign-on solutions like Facebook identity or Google accounts. In fact, some 88% of all online customers use these gateways from time to time to sign into websites they visit. On the other hand, neither Facebook nor Google can grant an account that’s verified or capable of payments, which significantly limits user convenience and growth. Accordingly, there’s a huge market that’s ripe for the taking.

In view of all this, as well as the cyber world problems mentioned in previous sections, the Safein team has set out to create a single sign-on and payment solution that can be used universally on all websites. By doing so we will eradicate the traditional way of creating accounts on numerous websites we shop on, and we will enable the world to adopt Identity 2.0. This profound leap in technology can easily eliminate the inefficiencies of never-ending KYC procedures and finally grant the community a default customer gateway for all e-commerce activities.

Equally important is our ambition to finally enable our customers to properly secure the personal data used for e commerce, and shop anonymously wherever possible. We strongly believe that instant access to payment for services, with no delays for KYCs or deposit transfers, will undoubtedly lead to greater competition, increased conversion rates and booming e-commerce. In tandem, merchants will benefit from a significant cut in their cost of regulatory compliance, data protection, KYC and user onboarding, cyber security, as well as reduction in need for significant portion of customer support handling trivial matters like password recovery.

2. Safein Architecture

3. Digital Wallet and Payment

a. Get access to websites with a single click

Safein allows users to sign up and log in to new websites with one click. Forget tedious registrations and lost passwords. With your approval, we’ll deliver your data to new websites for you.

b. Control your data

With Safein, you’re always in control of what websites know about you. You can login online anonymously, or only share data the website really needs. A single click will revoke their access permanently. On our web panel and mobile app, you’ll see your entire activity history, including registrations, logins and payments.

c. Pay with fiat or crypto with zero efforts

Once logged in with Safein, you’re also able to make payments without providing any extra information. Store your money in traditional currency or any crypto, and Safein will automatically convert and deliver funds in the merchant’s preferred way. Since every payment processed is within the boundaries of Safein, they’re instantaneous, secure and cheap.

4. Single Sign On

Before integrating Safein, a merchant will have to choose what user data is essential and must be acquired, and what data is optional and could be omitted. Our team will monitor this process and advise merchants on whether their choices on data to be collected complies with applicable data protection regimes. Moreover, the user will be able to choose whether to pass or decline passing optional data to the merchant. Safein will try to grow a generation of users who value their personal data and do not share it with everybody by default. The same applies to merchants, as we will try to do what we can, without losing our competitive advantages, to limit merchant requests for data and convince them to accept anonymous users where possible.

5. User Data Protection

Safein’s architecture is built in a way that solves most of these problems automatically. First, as required by recent developments in the EU, our users will always be presented with a full and clear information on what personal data is being passed on to relevant websites. No such transfer shall take place without clear consent of the user. Moreover, once the user agrees to give her specific data to a merchant on the first login, the merchant will be able to access this data on our platform anytime before this relationship is terminated by the user. Accordingly, such merchant will have little reasons to store this information on his own server and thus be able to significantly decrease his and his user’s exposure to hacking operations and data theft (as well as save some expenditure related to counter measures to such threats).

7. KYC Procedure Engine

Safein team is currently in talks with the world’s leading automated ID verification service provider to provide exceptionally accurate results using its AI powered document checking algorithm. Such checks, where users will only need to scan their IDs with their cameras and take selfies, will be sufficient for most uses. Some advanced verifications, where users need to comply with very specific regulations (for example, some cryptocurrency exchanges), will be done manually by the Safein team. It could take up to few minutes, but compared to current waiting periods of weeks for some exchanges, it is still a radical improvement, especially keeping in mind that users will only need to do it once.

8. Buyer protection mechanism

Crypto payments without buyer protection mechanisms rob customers of a money back guarantee in case of failure to deliver. Hence, Safein will provide a buyer protection mechanism for crypto payments in its platform. The mechanism shall only be initiated if the goods are not duly received by the buyer or if they are not as described. Safein will provide all the tools to the buyers to protect their accounts, hence, merchants will be able to feel safe as there will be no chargebacks or fraud cases. If buyers and sellers are not able to resolve disputes themselves, a well-trained Safein support team will intervene and resolve the outcome of these disputes.

9. MVP

The Safein MVP now allows users to create an account on the Safein platform and connect it to a mobile device. Safein is currently integrated in a demo website where users can login with Safein without registering, adjust their security levels for different websites, track their login activity from their mobile devices and close active login sessions at any time. This website can be found at: https://curonian.com/ Additional features are coming soon.

Token Model

https://safein.com/
ICO funds allocation

• Developing cryptocurrency wallet and payments functionality
• Obtaining the Electronic Money Institution licence
• Launching fiat deposits and merchant payments in EUR, GBP, USD
• Acquiring first 500 mid- to large-scale merchants
• Administrative, operational and staffing expenditures for 2 years

Safein token features

• 100% free payments for merchants who possess Safein tokens
• Monthly cashbacks for users paying with Safein tokens
• Login Pool to incentivize Safein use among users and websites
• Registration Pool to reward new users• Referral Pool to grow user base rapidly