Funkeypay, a blockchain technology applied to Social Network Services (SNS), gets industry attention
The emergence of Internet shopping mall has created a sensation in the industry, and it has become so widespread that the term “Internet shopping mall” now equates to “shopping mall”.
The industrial revival of the Internet shopping mall is now leading the explosion of economic growth, creating synergies and expansion of business communication through social network services. People’s reliance on social network services is growing beyond the reach of the Internet chat and e-mail in the past, and attempts to link transactions directly to SNS have become a big challenge in the industry.
An example is a service that allows people who want to sell on various platforms such as Auction and Gmarket to freely trade with people who want to buy.
In response to this technological trend, venture company called FunkeyPay, which aims to link SNS with direct commerce, is recently drawing attention.
World’s first blockchain model to incorporate payment and P2P marketing
Funkeypay’s platform is an innovative model that combines P2P marketing with payment for the first time. Facebook and Instagram already have more than 3 billion users worldwide. On these SNS, Funkeypay is able to provide services to customers using P2P marketing tools developed by TicketSocket USA.
Companies using TicketSocket P2P marketing tools are provided with highly efficient advertising tools that dramatically reduce costs. On the other hand, consumers can easily purchase and pay for the products anytime, anywhere using Funkeypay coin (FNK).
World’s first business model to combine blockchain technology with API technology
It has applied the world’s highest level of security to payment API technology which was used for FinTech, P2P, and blockchain technologies. The combination of these technologies provides differentiated marketing and payment services that have not previously been experienced.
Dr. Watler Tonetto, who is recognized as a blockchain expert in Southeast Asia and Europe, is currently working as Vice President of the Global Blockchain Research Application Foundation (GBRAF). He commented on this matter, “When I think about this from the perspective of API, Funkeypay has a different, unique open API with TicketSocket Korea. It gives easy access to other applications and the ability to purchase things.”
He concluded, “The blockchain technology of Funkeypay and the API composition of TicketSocket are very special.”
An asset type model with already-existing ecosystem that does not require pioneering a new market
“Among those who have come to me for business proposals were companies with skills that were really difficult to refuse. However, in the end, we had to turn them down for reasons that their outstanding technology was still difficult to be used and commercialized right away. In fact, in this respect, Funkeypay, who already has an ecosystem called SNS, has a really attractive business advantage.”
The above statement is an evaluation of Funkeypay by David DH Kim, a business developer and Director of DAO Consulting. As David DH Kim stated, Funkeypay is an asset type ICO model that does not require creating a new market.
The service is provided on SNS, as already-existing ecosystem. Therefore, it is under development to be immediately applicable and utilizable.
There is no need to pay astronomical costs to create an ecosystem. Rather, most assets are used as security guarantees for safe transactions.
It doesn’t stop with online services, they extend to offline services, thus the potential expansion of the ecosystem in the future is beyond imagination.
Funkeypay’s CEO Dr. Jung Jong Ki states, “SNS as a service market is already in full swing, but as a commercial transaction market, it is in early stages and will grow rapidly in the future. And Facebook will most likely be the first to gain control of the market.”
Meanwhile, Funkeypay held technical presentation meetups in Seoul (July 12), Shenzhen (June 30) and Ghaungzhou (July 7) China and Japan (August 4). Many cities in Vietnam and China are currently requesting more meetups.
Funkeypay is a global cryptocurrency P2P payment platform that applies to Social Network Services. There are about 3 billion active SNS users worldwide. And the number is growing every year. While the service aspect of SNS has developed and matured over the years, commerce is in its beginning stages. Funkeypay will enable seamless and active payment services on SNS platforms through combining blockchain, P2P advertising and Fintech.