What is COTI?
Our commerce continues to evolve throughout the years. Within a few years, digital currencies will play an important part of our lives. They will help us complete transactions faster, safer, and better than our current economic system.
COTI plans to help create this change by becoming the first digital currency to allow international consumer transactions. This ICO project is made to help individuals, businesses, and companies successfully conduct transactions instantly without having to pay extra fees.
Also, COTI is a digital asset that acts as a medium of exchange that uses blockchain’s network to control the development of additional units, secure transactions, and verify the assets that are being transferred.
What Problems Are Present?
As of now, we have payment systems such as PayPal that allows us to transfer money. But, these platforms tend to have large exchange fees, which can be a hassle if you’re a business who relies on international trading.
Despite the growth of technology, traditional payment platforms have low approval rates. This can be detrimental to across the border trading as users have a harder time obtaining money. As a result, the demand for a decentralized payment option is at an all-time high.
Through the use of blockchain technology, COTI’s mission is to create a platform that solves today’s payment challenges. By giving a layer of trust for all seller and buyer interactions, COTI removes the friction from the entire payment experience.
- Fraud Resistant: COTI uses Ethereum’s Smart Contracts to ensure that both parties fulfill their agreement during the transaction. This reduces fraud and helps both users trade safely.
- Virtual Wallet & Debit Cards: COTI creates a debit card and virtual wallet for each user present on their network. For merchants, they will create hedging and processing tools.
- Trust Scoring Engine: COTI will have a trust scoring engine that measures how trustworthy a user is and creates a unique trust score for each participant that’s involved.
Token Sale Information:
COTI’s token sale information is still being held by its users. Based on their F.A.Q. Section, the company states that they will release this information to the public once it passes through some legal regulations.
- Website: https://coti.io/token.html
- Whitepaper: https://coti.io/files/COTI-overview-document.pdf
- Technical Whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
Disclaimer: Invest at your own risk and do your research. The content published is made for informational purposes only.
- Mediation System: If there is a transaction dispute, COTI’s mediation system will assist by adding backup to the platform’s trust engine.
- Team: COTI’s team is based in Canada, and they are all passionate about finishing the project from start to finish.
- Payment Security: Through the use of smart contracts and its reputation system, COTI helps users conduct trades without having a fear of any negative issues occurring.
- Lack of Token Sale Information: While this is a good project, we hope that COTI would release their token sale information. This would help users who are interested in their project and increase their credibility.
- Competition: COTI’s development would place it in direct competition with other
For people who are interested in a new way to conduct transactions, COTI is the right ICO for that. In conclusion, its development process is uncertain, but if their team follows the roadmap, it might be of great value.