Connect Coin – A Standard Coin Facilitating Multiple Transactions

by | Jan 23, 2019 | Cryptocurrency, Cryptocurrency News

Connect Coin | Standard Coin | Online Transaction

Paying by electronic means has proven to be a very convenient and efficient option for consumers. All users have to do is confirm their purchase and within a matter of few clicks, they can complete the transaction. But this efficient mode of payment comes with its own share of setbacks that hinders its large-scale adoption.

Key Challenges of Fiat Currency Transfers

  • Price Fluctuation

Over the course of time, the value of fiat money tends to depreciate, resulting in inflation pressure because of higher import prices and increased demand for exports. It creates a problem for businesses with small capital to participate in events and be a part of the global trading market.

  • Lack of Adaptability

Even with such significant advancements, presently, merely 41% of the global population own bank accounts. Rest of the population still cannot transact or trade beyond their physical borders.

  • Double Spending or Double Booking

Using fiat money make online purchases expose users to online fraud as the same card (debit or credit) can be used by anyone to make payment without authorization. This is one of the critical reasons as to why users are still uncertain about adopting online payment methods.

 Addressing Pitfalls the Right Way

Cryptocurrency International Tanzania Limited (CITL) has identified and effectively addressed these aforementioned pitfalls that hinder the growth and adoption of online payment methods. The company has leveraged blockchain technology to offer global e-commerce industry and consumers reliable, safer, and efficient way of implementing fund payment and transfer.

Connect Coin (XCON)

Connect Coin is one of the significant product offerings of CITL that is developed with a vision 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 allowing them to be a part of Connect Global Marketplace. Within this market, consumers can purchase from sellers and merchants across the globe and pay efficiently through Connect Coin, thereby eliminating 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.

 Purpose of Connect Coin

 XCON  token is integrated to accomplish the following purposes:-

  • Raising funds to build and enable CITL Academy, Connect Marketplace, Merchant Builder Program, and CITL Exchange.
  • Staking tokens for the participation of micro-distribution centres
  • Staking tokens for the participation of delivery operators
  • Rewarding users who recommend XCON

Connect App

Connect App allows users to store, send, and receive Connect Coin from one user to another in real-time. The app also enables users to pay for goods and services to merchants worldwide who accept Connect Coins. Through this app users will be able to:-

  • Securely store their coins
  • Obtain flexible and easy way to use their collected coins
  • Enjoy low fee transaction
  • Easily pay for goods and services

Consensus Algorithm- Ensuring Reliability

When packages are delivered to buyers, users can verify the delivery of the same through their signatures on the Connect Mobile App. This will ensure that the right package is delivered to the right buyer.

Token Sale

CITL is offering 70 Million XCON tokens. These tokens will be distributed in the following manner:-

  • 76% – ICO sales
  • 15% Founder and Management Team
  • 7% Promotion of Referral Program
  • 1%- Contingency
  • 1%- Legal costs

Following the token sales, the fund collected will be allocated in the following way:-

  • 35% – Connect Marketplace
  • 30%- CITL Merchants
  • 20%- CITL Exchange
  • 15%- CITL Academy

Connect Coin – Simplifying E-commerce Industry

CITL has extended its dedicated cryptocurrency, Connect Coin XCON with a vision to streamline the global e-commerce industry. It intends to empower merchants by offering them a reliable and secure payment system, thereby augmenting their sales and profit earning opportunities. Through Connect Coin, consumers obtain the opportunity to connect to a global marketplace and make purchases through a single coin via app or card. Learn More about connect 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

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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