Good day everyone,i would be introducing you all to a very interesting platform called CAPVERTO,Capverto is an extensible open-source framework for creating blockchain applications.Today i would be writing on what CAPVERTO is .
WHAT IS CAPVERTO?
CAPVERTO Exchange is a digital
currency, based on a versatile utility
token that greatly extends the basic
advantages of cryptocurrency through
a design directly addressing the
needs of populations most frequently
excluded from banking. It delivers a
multifaceted bank-like experience,
centered on a prepaid card, that is as
easy to use as logging onto a fast, welldesigned
website.
At the same time, the pivotal
CAPVERTO Token (CAP) at its core
supports advanced features such as a
cash back system, peer-to-peer (P2P)
monetary exchange, a digital currency
trading platform, and an innovative
cryptocurrency insurance product. In
the course of normal use, all of these
features influence the underlying value of the CAP, distinguishing it
a uniquely flexible amenity for the
unbanked and underbanked.
The specific design traits of the
CAPVERTO Exchange platform
and the CAP makes them superior
instruments to other digital currencies
for these particular purposes.
Unlike BTC, ETH, and similar
cryptocurrencies, both CAPVERTO
Exchange and the CAP have been
built from the start to serve as bridges
between the still-siloed worlds of
fiat money and cryptocurrency,
combining the scalability and liquidity
of the former with the technical
sophistication of the latter.
BUILDING A BRIDGE BETWEEN FIAT MONEY AND CRYPTOCURRENCY WITH A PREPAID CARD
Over the last twenty years, prepaid
cards have evolved from niche
products into essential financial
instruments with particular usefulness
for the underbanked and unbanked
individuals. Infosys has projected
the global prepaid card market will
surpass $3 trillion by 2022, in part
because of sustained robust demand
for accessible, flexible alternatives to
normal bank accounts among
these groups.
More specifically, general-purpose reloadable prepaid cards are common
substitutes for primary checking accounts, due to significant benefits including
but not limited to:
In a comprehensive 2012 report on prepaid card use throughout the U.S., the Federal Reserve Bank of Philadelphia noted
that total transaction volume associated with these cards was growing much faster than that for either credit or debit cards.
Moreover, the Pew Charitable Trusts has documented the heaviest prepaid utilization among unbanked consumers with
annual incomes of $50,000 or less; more than 40 percent of this group also had direct deposit configured for such cards.
• No – or minimal – fees for
activities such as overdrafts and
check cashing.
• Liability protections if the card is
ever lost or stolen.
• Easily reloadable via mobile
devices, stores and direct deposit.
• Usable at point-of-sale terminals
and online stores.
• Tighter control of spending, with
less likelihood of going into debt.
CASHBACK WITHIN CAPVERTO
CAP, the core of CAPVERTO, is a
utility token. The token is involved
in all of the key operations of the
platform:
· Whenever a member purchases
an international prepaid card,
an equivalent amount of CAP is
transferred into their account. So for
the starting tier - blue - that would
amount to $100 worth of CAP.
· Cash back rewards are awarded
as CAP. Up to 2 percent of each
transaction with the card, depending
on its color tier, is eligible for cash
back in the form of CAP tokens,
meaning that all user card activity
continually influences CAP holdings
and total value.
CAP is also distributed as part of the
copy trading system. When a trader’s
portfolio is copied, a percentage
of the total profit that the follower
would have accrued is given to the
original trader, partially as CAP with
the rest denominated in the traded
currency.
The CAP utility token is the engine
powering CAPVERTO, to benefit the
unbanked and underbanked.
THANKS FOR READING.
To know about this project;
visit the website: https://capverto.com/landing
join the telegram group: https://t.me/CAPVERTOOFFICAL
whitepaper link: https://backend.capverto.com/Docs/CAPVERTO_WHITE_PAPER_EN.pdf
my bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1070043
facebook link: https://www.facebook.com/capverto
twitter link: https://twitter.com/capverto
bounty thread: https://bitcointalk.org/index.php?topic=4973071.0