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Encryption technologies, since their inception, have been constantly evolving, and at the moment are the most persistent method of protecting information from third parties. However, the human factor still remains as a vulnerable place. Encryption keys can be stolen, modified, or intercepted in one way or another; and they might be used in illegal actions. The concept of bitcoin has brought a new hope in the modern world of the Internet to guarantee the invariability of information by a third party. The information transmitted once between entities is kept unchanged and can not be subject to an unauthorized modification. Bitcoin was the first iteration of this technology. Later, the Etherium developed the idea of a blockchain within the framework of smart contracts. The technology of blockchain is still on the way to its development, and in the near future we are waiting for even greater changes and innovations that will completely change the existing system of trust within the network, and further spread into everyday aspects of our lives. Eventually, relieving us from many routine tasks that take up precious time. The era of borderless information exchange is coming up with the help of a distributed network of equal participants. The era of systems independent of borders, states, governments, corporations.

The Global problems

  • Billion dollars not involved in the global economy Billions of money transfer every day, as well as fee and time efficiency dramatically poor.
  • No transparency There is lack of transparency and accountability in the system.
  • Lack access to the global financial market More than 3.5 billion people are still unbanked.

The Solution YayProto is proposing
YayProto is the world’s first multipurpose binary protocol built with a decentralized technology in mind. Beta versions of SDK’s for building mobile apps(iOS/Android) are ready to be distributed by request. Desktop SDKs will be announced soon. Minor imperfections are possible. Bug reports are welcome.

Assembled best in mind:
• Awesome Messenger (chat, audio and video calls, conference)
• P2P-Money transfer platform (Hawala Banking)
• Marketplace for local business/services (hotel, insurance, markets, any kind of a physical business that wants to go online)
• Ultimate Privacy and Security with encryption keys stored in blockchain

Our goal is to create a decentralized cryptographic-resistant messaging system for private transactions. YayFon Messenger has all of the standard functions, such as the transmission of text, images, voice, video, files, stickers, groups, all protected with end-to-end encryption using Elliptic Curve Cryptography algorithm. More features coming soon.
• Bots
• Public groups
• Sticker market combined with Sticker SDK for developers to allow develop and earn YFN
• All data will be transferred securely using YayProto, proprietary protocol, specifically designed for mobile networks

P2P money transfer
• Real time money transaction platform
• Real time crowd lending platform
• Ranking system will be executed for P2P transfer and lending

Lending
With YayProto Lending we aim to provide an alternative decentralized lending solution to individuals and businesses using the innovative blockchain technology. Having in backend YayProto, there will be a platform developed, which will use cryptocurrency alongside fiat currency for the purposes of peer-to-peer lending. YayProto Lending platform enables people across the globe to lend or borrow Bitcoin, Ethereum and Fiat currency and thus be a part of global decentralised financial services.

Our team strongly believes in great potential of peer-to-peer lending. Through the ICO we aim to make these services more affordable, transparent and reliable.

Decentralization/Data/Content
• Provide your computing power and network speed for supporting the system and earn YFN.
• Share and receive rare and unique content and earn our benefits.

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Tokens use case

  • In-app payments
  • Offline payments
  • P2P-transfer
  • P2P and crowdlending
  • As well as having an ability to pay for YayFon main products suited for business, like Call Button and/or Cloud PBX(release date March 1)

How it will work on Blockchain:
Step 1

Alice wants to send money to Bob in another city or country.

• Alice opens an app and sees a list of people, who are living in the same city/country as Bob and wish to provide the money with some extra fee.
• Along with the money, Alice generates a QR-code/password and sends it to Bob via the messenger (this will lead to the money being paid out).
• Bob, with a QR-code/password provided by Alice, contacts the nearest person (Dan) and, after providing him the QR-code/Password, receives his money, minus the fee.
• For Alice, to start this operation the minimum amount* of YFN is required on her balance, which after QR-code/Password generation will be blocked.

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Eve wants to send money to Faythe.

Faythe lives in the same city as Alice. Eve also lives in the city where Dan (step 1) lives.
Eve generates QR-code/Password and sends it to Faythe. Eve contacts Dan and provides him money. Faythe contacts Alice and Alice releases the money, minus the fee.

Eve's account now has a positive balance of currency(YFN, USD and/or etc)

Additional features:
• Ranking system
Ranking system will be applied for transfer, as well as lending platforms. Ranking system will be based on personal rating, performance/time efficiency, community feedback, response speed.

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Token Distribution and Funding Usage
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Token Distribution
Currency accepted: ETH, BTC
Token exchange rate: 1 ETH=7500 YFH 1 BTC=75000 YFH
Amount of tokens per one person: unlimited
Minimum transaction amount: 1 ETH, 0.04 BTC
Maximum transaction amount: unlimited

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Note: YFN tokens are not shares, stakes or securities. They should be treated as utilities, which will allow contributors to get goods and/or services within the platform. Using YFN within a platform is not mandatory and will be based only on the choice of participants. All tokens will be issued using a smart contract and only during Pre-ICO and ICO events. Maximum amount will be based on the results of PRE and ICO events

Roadmap
As a developer team with a target of developing the best decentralized protocol for data exchange, we are planning to open 3 additional offices around the globe to hire the best future team members who will share our idea with.
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Meet the team behind this amazing project
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For more information, please visit the links below:

Website: https://ico.yayfon.com

Whitepaper: https://ico.yayfon.com/whitepaper

Twitter: https://twitter.com/YayProto

Facebook: https://www.facebook.com/YayProto

ANN Bitcointalk: https://bitcointalk.org/index.php?topic=3004803

Telegram: https://t.me/YayProto_ICO

YouTube: https://www.youtube.com/channel/UC17nf13s9jPvcwCKuNjTUsQ

Author: Tosin David

My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1180815

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.