Spotcoin is a company specializing in transactions between cryptocurrency and fiat. They are growing quickly and expansions include a mining operation and more. They are building an all inclusive asset management kit for investors to have full access to the advantages of digital assets. A user friendly interface will give access to mining, over the counter trading, payments, and digital asset markets. The goal of Spotcoin is to create a whole simplified digital asset ecosystem. They also plan to build a Blockchain Institute. This will offer research and training in the field of blockchain technology. Spotcoin currently serves the Black Sea area, and its customers are merchants, investors, traders, and miners.
Spotcoin is in the process of raising up to thirty million dollars with a token sale. Tokens will be for sale at $0.50 a piece. Token distribution is currently scheduled for mid July, 2018. Total token supply is ninety nine million tokens, and token holders will be able to receive dividend payments. Fifty one percent of trading fees from the digital exchange will be paid to token holders along with twelve percent of net profit from the mining, Spotpay, and OTC businesses. The type of token being used for Spotcoin is a NEO based token. NEO tokens are growing in popularity when compared to the most common ERC20 ethereum token. The NEO platform offers great functionality and will work great for Spotcoin's uses.
The whole Spotcoin ecosystem will be made up of several planned components. These components include a mining operation using renewable energy, a payment system called Spotpay, a digital exchange, and the Black Sea Blockchain Institute.
Spotcoin has been operating an over the counter market since the end of 2016, with clients worldwide. This is an area that has expansion plans in addition to the other ecosystem components that I listed above. The digital exchange will focus on simplicity of use. The four main cryptocurrencies that will be used for trading pairs are ETH, BTC, GAS, and SIB. Spotcoin has an order matching engine called Spotcore for providing market liquidity between all components of the ecosystem, the OTC marketplace, digital exhchange, Spotpay system, and mining operation.
Here is some information about the planned mining operation. It is about a three million dollar facility that will use hydroelectric power for operation and house a little over four thousand GPU miners. This operation will be able to scale up to 25MW.
Spotpay is the advanced payment system that is being worked on. It will offer low cost, quick, and secure transactions using a payment widget or an API based wallet. This Spotpay system will be fully integrated with their Spotcore technology for instant payouts in the desired type of currency at a fair price. The first goal for Spotpay is to achieve one million dollars per month in transactions by the end of 2020.
Spotcoin is also working on establishing the Black Sea Blockchain institute. The three main functions of this institute are research, education, and innovation. There will be projects that are selected by community members, and then the institute will provide resources and accelerated development. This new institute can provide great opportunities for students and the whole community to further learn about blockchain and its uses. To find out more about Spotcoin and all of its goals, check out the informational links below.
Whitepaper: https://www.spotcoin.com/whitepaper.pdf
My bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1420457