With an ambition to change 30 years old payment industry with a worth of 2 trillion dollars, “Currency of the Internet” has come up with a decentralized and expansible payments mechanism. COTI desires to spread digital currency across the world’s buyers and sellers. Company plans on prioritizing reliability, trust, zero fee, regulatory compliance and ease of use. As the stats are observed closely, only 0.003% of currency has been converted from traditional to digital in the past few years. Spread in 4 continents, team COTI has an experience of more than 80 years in the digital sector and have been more than ready to bring the process to daylight. COTI’s current team comprises of highly reputed people from across well-built platforms including Ripple, Investec bank UK and Blackrock. The CEO of the company comes from online advertising space with a great knowledge in crypto-world.
CEO Shahaf Bar-Geffen and team have designed a dedicated ecosystem to help the platform function properly. One of the main components responsible for working with the company is its distributed ledger known as Cluster. A directed cyclic graph is utilized to enhance the performance of the working mechanism. The second stage components which are needed to process include trust scoring engine, native currency and currency exchange. To avoid frauds and security breaches, meditation system is mounted on the ecosystem. It prevents unauthorized charges, billing errors, non-conforming and uncolored goods and services. Ecosystem is run by decentralized governance on the top of its order.
To maintain a good user base, COTI is providing some of the applications divided into a different group of users. For consumers, wallets and debit cards would be in circulation soon. Wallets would help the consumers to exchange and store cryptographic and fiat currency. Hedging services and processing tools would be put in place to merchants. Considered as “second pillars” of the company, Merchants are provided with such facilities for accepting payments from people using COTI wallets and inviting others to be a member of the company. More mediators to join the company, a special application are provided. Based on incentives, Company rewards appropriate behavior for the honest and transacting person with no cost on transactions and extreme fluidity.
COTI’s principal focus for its first months is on its initial coin offerings which would last till July. Launch on company’s major products including Alpha net, exchange, wallet and test set are some of the goals to be achieved by the end of 2018 whereas the main net and company’s debit card are to be handled next year. Wallet and exchange would be launching in beta versions first in September. Full version of these would be up 2 months later. Currency of the internet has a planned roadmap and dedicated team for its upcoming ventures. Taking digital currency to a massive scale is one of the basic needs of the digital world and such ICOs are routes via which the bigger picture would be in the limelight.
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