AXPIRE - BUILDING THE WORLD FIRST BLOCKCHAIN

One of the main essential part of ordinary living is trust, it could be picking mechanics based on sliding credit cards into gas station fuel pumps, yelp reviews or heeding our doctor's advice. However our trust has been corroding for years. In Nigeria, only 20 percent of us felt we could trust our government in 2018 - a decline of 14 percentage points from 2016. Trust in businesses dropped from 45 percent to 35 percent too, while media (fake news!) and social networks also took a hit.

It's a problem. The less trust one has, everything becomes harder. Do you think that job candidate really graduate from university? Did your uncle really repay that loan?

Nevertheless there's a proffered solution that might help restore enough faith in strangers to make our lives a lot better: an encryption technology called blockchain.

However extreme as it sounds, Blockchain is a process or system to bring everyone to the highest degree of accountability. No missed transactions anymore, machine or human errors, or even an exchange that was not done with the consent of the parties involved. Above all, the most rejective area where Blockchain helps is to ensure the validity of a transaction by registering it not only on a main register but a joined distributed system of registers, all of which are connected through a secure validation process.

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aXpire is building the world's first blockchain based spend management system.

KEY BENEFITS OF AXPIRE
• Removal of manual processes through machine learning

• Replace paper, PDF and spreadsheets (PPS) with digital workflows

• Ensure minimal touch points in the spend management process

• Increase operating profit by 15-25% [5]

• Enable electronic interdepartmental communications

• Track and manage workloads, timelines, expense aging

• Connect disparate “legacy” technologies as a “plug and play” solution

• Provide digital audit trails for regulatory compliance

• Reduce or remove data quality errors

• Enhance compliance reporting capabilities

• Provide robust data analytics dashboards

• Delivered via a highly secure SaaS model

The solution is focused on utilizing technology - including artificial intelligence - as a platform to reduce human error, increase profit and enhance internal procedures via a “connected application”.

Artificial intelligence serves as a core part of our offering to empower users to make the right decision when it comes to approving or denying expenses. For example, the longer their relationship with a customer, the larger the SQL database of previously approved or denied invoices we will have collected. Each invoice receives an aXpire Rating Score (ARS) from 0 to 100, with 100 indicating a green light for immediate submission, 0 indicating revisions are required and anything in between requiring user judgement. For each new expense, they can offer the internal finance departments clear guidance as to whether new expenses fit criteria of previously approved or denied expense, saving time and reducing error. They aim to not entirely remove the human aspect of spend management, but to enhance it. The longer the client relationship, the greater the average ARS.

As aXpire evolves, further technological enhancements will be implemented, such as blockchain technology, as well as value-add services that include legal, actuarial, accounting and general administration. aXpire is deployed as a highly secure SaaS model, meaning they offer extremely competitive pricing when compared to more traditional fund administration service providers, who charge on a percentage of Assets Under Management (AUM) basis rather than Per Member Per Month (PMPM). For example, their first client - a $24Bn hedge fund, pays the equivalent of 1-2 basis points of AUM, if they were also ~5% of their current size. Currently, fund administrators charge between 10 - 15 basis points.

Axpire have both a P2P and a B2B solution. Resolvr is aXpire’s B2B spend management software. Resolvr is a high performance application, under the aXpire brand, and is being integrated with other core applications used by fund administrators, accounting and finance teams, e.g. Coupa, QuickBooks and HazelTree. We pull on a number of “efficiency levers” to improve on status quo performance
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As part of aXpire’s current offering, the Company provides expense management solutions to asset managers through the Resolvr software solution. As they expand into different verticals for expense and spend management, they are tailoring their mid- and back-office solutions to fit companies across all industries.

AXP TOKEN
The AXP token is a decentralized application (dapp) token developed on top of Ethereum blockchain, in line with the ERC223 standards, which is an enhanced version of its predecessor ERC20 standards. For the avoidance of doubt, the AXP token is ERC20/ERC223, i.e. an ERC20 token with ERC223 extensions. The token is fully backwards compatible will all ERC20-compatible contracts and wallets. The initial distribution of the token was completed through a TGE (Token Generation Event).

Once they build out their industry agnostic software back end, they will require vendors to use AXP for ex procurement and/or “e-bidding” for expense contracts through their RFP portal. Clients will be able to submit jobs to their platform, with invoices payable in AXP. If vendors plan to transact on the live network and submit invoices, they’ll need AXP to cover the base fees for those transactions. By design, transaction fees on aXpire are very low cost.

AXP will also be used in P2P application, MatchBX, as a means to budget and pay for services. There will be a small fee associated with each transaction, which will take the form of AXP. This transactional AXP will follow a “burn” function, and will be removed from the total supply, increasing the utility value of each token.

The total supply of the tokens is limited to 350,000,000 units and will decrease over time with the AXP burn function. The TGE will distribute up to 75% of the total supply of tokens, 262,500,000 tokens. This total amount will be split between a pre-sale / sale / referral program / bounty (up to 30% / 40% / 4% / 1% of available tokens, respectively). Any tokens not sold during the TGE will be held in our corporate wallet as reserve tokens for development expenses and working capital in future raises. The remaining 25% of tokens will be split between reserve tokens (10%), advisor & developer tokens (10%) and bug bounty program (5%). Management of the TGE is performed through smart contracts, which deal with token transfer, creation, minting etc.
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CONCLUSION
Axpire help reduce waste and improve profitability. In more detail, they enable seamless spend management, in real time, through secure blockchain technology and machine learning throughout the lifecycle of services exchange. Machine learning enables clients to make incrementally intelligent invoicing decisions through a growing reference SQL database of approved and denied transactions. They succeed as their clients succeed through the use of our end-to-end internal spend management and services marketplace software.

MAJOR MILESTONE
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MEET THE AMAZING AXPIRE TEAM
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THE ADVISORS
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TO LEARN MORE ABOUT AXPIRE CHECK OUT THE FOLLOWING CHANNELS
Website: https://www.axpire.io