Connect Coin to Solve Fiat Currency Problems

Connect Coin to Solve Fiat Currency Problems
фото показано с : zycrypto.com

2019-2-28 18:00

  With the launch of Connect Coin, Cryptocurrency International Tanzania limited (CITL) is planning to resolve the issues which are faced by fiat currency transactions. These days, money transfer and online payments have become a part of life.

The increasing popularity of e-commerce has played a significant role in the growing demand for online payments. CITL believes that though the current payment system is meeting the demand, there are a lot of gaps that can be filled by more effective methods of money transfer. Blockchain technology and Cryptocurrencies are a way to make money transfer more efficient, easy, and accessible from anywhere anytime.

CITL believes in continuous upgradation of technology and is among the very first companies in Tanzania to offer fintech products in the country. The company has plans to transform the global payment system and money transfer through cryptocurrencies and blockchain Technology. CITL is planning to utilize the market volatility of both cryptocurrencies and fiat currencies in the global financial market to create a decentralized cryptocurrency “Connect Coin (XCON)”. CITL believes there are certain issues with the use of fiat currencies such as:-

Cross-Border Payments: When fiat currency depreciates it causes inflation which is a huge problem for the businesses which have global reach. People do not find it safe and convenient to exchange the fiat currency into regional currencies while travelling worldwide.

Bank Access: In the developing world, only 41% of people have access to bank accounts. So, the remaining 59% population cannot easily make transactions or trade inside or outside the country.

Double Spending: The use of credit or debit card for online purchases expose the user to online fraud because the same data can be used by other parties without the authorization of the owner.

Identity Theft:  Fiat currency transactions do not allow users to transact online without the declaration of their identity.  The Identity information of the user is sent with the transaction along with other data. This information can become vulnerable online.

Data Tampering: Fiat currency data can be counterfeited.

Fees: Because of the centralization of fiat currencies, the associated fee usually remains very high.

Connect Coin (XCON) – The Imperative Blockchain Solution

Connect Coin is one of the vital product offerings of CITL that is developed with an objective to ‘connect the world.’ It is a standard ERC-20 Ethereum-based coin that intends to connect buyers and sellers from around the world by enabling them to be a part of Connect Global Marketplace.

Consumers can purchase from sellers and merchants across the globe and pay efficiently through Connect Coin, thereby reducing the hassle of converting money to local currencies. The platform also enables consumers to pay for good and services using the Connect App as well as Connect Cards.


Connect Card – Improving Global Payment System

Built on blockchain technology connect card envisions to improve the digital payment system. It simplifies cryptocurrency transactions and makes their use practical in real-life. Through Connect Card users can easily withdraw funds (XCON) in fiat money.


Connect Coin Token Sale

CITL is to distribute 70 Million XCON tokens in its token sale which is ongoing. These tokens will be issued in the following manner:-

76% – ICO sales 15% – founder and management team 7% – Promotion of referral program 1% – Contingency 1% – Legal costs

Additionally, funds collected from the token sale will be allocated in the following manner:-

35% – Connect marketplace 30%- CITL merchants 20%- CITL exchange 15%- CITL academy

Learn More about connecting coin on  https://connectingcoin.io/

Telegram: https://t.me/CONNECTCOIN

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

Twitter: https://twitter.com/connectingcoin

Instagram: https://www.instagram.com/connectingcoin/

Youtube: https://www.youtube.com/channel/UCpOMai74r0oMTwHKFzXHdTw

The post Connect Coin to Solve Fiat Currency Problems appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Universal Currency (UNIT) на Currencies.ru

$ 0.0001272 (+27.27%)
Объем 24H $327
Изменеия 24h: 0.39 %, 7d: -0.52 %
Cегодня L: $0.0001272 - H: $0.0001272
Капитализация $2.028k Rank 2376
Цена в час новости $ 0.0043941 (-97.11%)

currency fiat connect coin online payments problems

currency fiat → Результатов: 126


XchangeCoin ICO

XchangeCoin (XCC) will build a network of retail stores / kiosks that will allow users in Asia and Africa to change crypto into fiat at convenient XchangeCoin locations, options such as changing crypto currency into fiat as well as allowing the customer to send crypto which can be converted to fiat across the country to friends and family.

2018-8-17 17:22


Фото:

An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend

Back in the early days, cryptocurrency enthusiasts used to laugh at the thought of a stable cryptocurrency pegged to a specific fiat currency like the US dollar. Although nowadays things have changed and the digital currency tether (USDT) captures more cryptocurrency trade volume than most of the leading nation-state issued fiat currencies like the USD […] The post An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend appeared first on Bitcoin News.

2018-8-13 03:10


CoinDesk Analyzes CryptoCompare and CoinHills Trading Stats, Sees USD Volume More than JPY

The US Dollar is the Number One Fiat Currency in Bitcoin Trading Despite the widespread perception that Japan is a global blockchain trailblazer, market statistics heavily disagree. According to a research by leading cryptocurrency website CoinDesk, there are significant procedural flaws in the BTC exchange data that ranked the Japanese yen as the most dominant […]

2018-8-4 23:29


Фото:

Netherlands Central Bank: We Don’t Consider Cryptocurrency To Be Money

The central bank of the Netherlands has issued new comments on cryptocurrency this week, continuing a popular narrative from the banking sector that it is “not money. ” ‘Spending, Saving And Calculating’ In a video statement translated by local news outlet Dutch News, De Nederlandsche Bank divisional director Petra Hielkema said that cryptocurrency did not adequately permit three specific functions which consumers need and which are currently fulfilled by fiat currency.

2018-8-4 21:30


Фото:

‘Delusional’ Paul Krugman Says Bitcoin Sets Monetary System Back 300 Years

Cryptocurrency industry figures are reacting with scorn after US economist Paul Krugman likened Bitcoin to “setting the monetary system back 300 years. ” Bitcoin Is No Evolution, Suggests Krugman In an opinion piece for the New York Times July 31, Krugman took aim at the high cost of Bitcoin mining and the “speculatory” nature of its users, claiming it undermined stability compared to fiat currency.

2018-8-1 19:00


ReMoneta ICO

ReMoneta network is a frictionless central hub connecting crypto to commerce. By solving the major problems in crypto and fiat, we are bringing crypto to the mainstream. Together with our community, we have designed a safe, completely price stable currency and land-backed payment system on the market – ReMoneta.

2018-7-24 22:18


Philippines Based LoyalCoin Is Using Cryptocurrency To Create The First Global Loyalty Scheme

Philippines-based LoyalCoin is aiming to create the world’s largest loyalty network where points from thousands of different brands are interchangeable – all thanks to cryptocurrency. Customers will be able to turn reward points from numerous brands into taxi rides, air miles, fast food treats and pretty much anything else they want.

2018-7-23 23:00


Argentina Central Bank Looks For Crypto & Blockchain Education Via Books

Argentina’s Central Bank’s Interesting In “Mastering Bitcoin” Growing As Peso Is Depreciated By Rising Inflation Argentina is currently facing a big economic crisis as the country’s national fiat currency, the Peso, has hit a record low price against the USD and the inflation in the country is rising a lot recently. Not only people, but […]

2018-7-21 23:52


Фото:

Indian Cryptocurrency Exchange Koinex Launches Loop, a P2P Token Transaction Network

Koinex, a prominent Indian crypto exchange, has launched its peer-to-peer (P2P) service called Loop. Loop is a P2P trading platform for crypto assets transactions using fiat currency (INR). Koinex Loop – An Attempt to Preserve the Crypto Industry in India This step follows the move by another Indian exchange, WazirX, who started their P2P operations earlier.

2018-7-21 23:00