BelugaPay ICO Review 🐳 - All-in-one Point Of Sale System For Crypto and Fiat Payments

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Learn more about BelugaPay at: https://www.belugapay.com
Join the BelugaPay community at: https://t.me/belugapay
This video is sponsored by BelugaPay.

https://www.belugapay.com/faq.jsp
What’s with the logo? It’s like a Dolphin tail. Does it mean that once you use BelugaPay you feel like you’ve been slapped in the face with a wet fish?

Fish clip:

I don’t think that was the intention of the graphic designer who made it no.

On a serious note they named their company after the Beluga whale because they are building their company culture around the traits of the Beluga Whale.

I read up on Beluga whales during my research and the biggest similarity I saw between the Beluga Whales and Beluga Pay is that they organise into pods yet sometimes an individual whale can travel hundreds of miles away.

When I read this it reminded me of how BelugaPay have their main office and the most staff in their Mexico office, but have remote team members in many other parts of the world.

What I took from that is while these remote workers are distant, they are not see as any less part of the Beluga family.

BelugaPay itself was actually established way back in 2014 as a regular point of sale system, that’s the system merchants use when they interact with a customer.

The Problem
https://www.belugapay.com/products.jsp
If you are a merchant running a business you want as few software systems as possible because, while you can connect different software systems together it can become difficult to manage.

This applies to the world of cryptocurrencies right now because many merchants have their existing point of sale system and then they may have a separate system dedicated to accepting cryptocurrency payments.

The Solution
https://www.belugapay.com/index.jsp
BelugaPay offers an all in one solution so whichever way your customers want to pay, you have it all in one integrated system.

And more than that, BelugaPay isn’t like BitPay who offer the ability to add Bitcoin as a payment method on your checkout, BelugaPay is a complete point of sale system.

The difference is that BitPay and similar systems just process payments, while point of sale systems like BelugaPay are complete systems that handle payments, keep track of inventory, help manage long term relationships with customers and analyse all your sales data to make decisions.

And BelugaPay is designed to be mobile so it can run on a smartphone, a tablet or a laptop, making it suitable for everything from fuel stations to restaurants.

Here’s an example of someone paying with crypto at a service station:

That video shows the lady opening up the Beluga app to pay however I don’t think they will be necessary. She should just be able to send Ethereum from whatever wallet she has.

The merchant would be using the Beluga app for sure, but the customer wouldn’t have to.

The Product
[show home page section BELUGA PAY is Already Live!!]
https://www.belugapay.com/index.jsp
Based on their whitepaper and their promotional material I got the impression that their product is aimed at developing countries that have mostly cash economies.

They quote some data about how the number of transactions a person does increases significantly once they get the ability to do digital payments, even a credit card.

https://www.belugapay.com/products.jsp

They also have a specialist product for restaurants that goes even further than a point of sale system allowing you to order from a tablet on your table and having that order get printed out in the kitchen.

The Token
[home page section BBI Token utility diagram]

If you hold BBI tokens you receive a share of the transaction fees that are processed through the system.

0.5% of all transactions go to token holders. I assume that’s 0.5% of all volume through the system and not 0.5% of fees collected.

That got my attention so let’s dig into the revenue share a bit here.

https://www.belugapay.com/assets/beluga_whitepaper_v10.2.pdf

On page 20 of their whitepaper they estimate $50m worth of payments will be processed in 2018 and $400m will be processed in 2019.

Worst case scenario say they sell out all 100 million tokens.

Returns formula:
https://docs.google.com/spreadsheets/d/1O2RGXK0d-HAb5IZp7s5ZOFMwZhddrR4GFmqnzCzBarg/edit#gid=0

The grey fields contain formulas but you can play with all the other figures.

Based on these calculations you’re not likely to get rich from the cashflow, but none of this is financial advice anyway.

I’m just sharing my observations with you.

Other things you can do with the token are…
So the membership and gas use cases are for merchants, the loyalty rewards are the customers and the fees are for the investors.

The Token Sale
As stated on the front page of the whitepaper the token sale is not available to citizens of the United States, Canada, Singapore or China.

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