As new areas of application of blockchain technology continue to increase, the cryptocurrency market as a result has continued to grow but there is still a discord existing between digital and legacy currencies. Digital to fiat transactions are taking longer than necessary because of the lack of fiat liquidation in most digital exchanges. Digital exchange platforms place varying limitations on digital to fiat liquidation, big-volume traders are running into bottleneck why trying to liquidate their assets in the shortest time possible without incurring huge transactions fees.
The Spotcoin solution
Spotcoin discovered this problem and in the quest to remedy a solution created Over The Counter Marketplace (OTC) for digital to fiat currency trading in, serving clients all over the world. In this short period of time, Spotcoin has continued to see growth in clients, trade volume, profit and has gone from 3 staff to 35 staff within the last year.
Spurred by this success, Spotcoin wishes to create a digital assets exchange platform built on the NEO blockchain that will oversee the application and integration of blockchain technology into the OTC market. The Spotcoin platform will introduce crypto to fiat trading pairs and support large volume liquidation. This will eliminate the problem of inaccessibility of crypto-to-fiat trading pairs and increase transparency, and faster liquidation of digital assets.
The Spotcore Engine
The Spotcoin solution include OTC Marketplace, Digital exchange, Spotpay, and mining business. The Spotcore engine will integrate all these components into a single cohesive unit in order to ensure they is harmony and users have the best experience.
OTC Marketplace
Through the Spotcoin OTC marketplace, big-volume traders who usually run into difficulties liquidating their assets will be able to do so in the shortest time possible, and in a transparent manner. Spotcoin through its relationship with many European banks will be able to see that clients transactions are confirmed and settled within the next day. Big-volume traders will no longer have to wait for days, weeks or even months to successfully liquidate their assets.
Digital Exchange
Spotcoin digital exchange will offer clients a friendly trading interface that will support both fiat and digital currency trading pairs.br>
SpotPay
Through Spotpay payment solution, offline and online retail stores will experience an easy to use, fast, instantaneous and reliable payment solution in the form of a secure payment application. The payment application will include an API and a digital wallet app that will facilitate the fast and secure point of sale transaction. Merchant’s who make use of SpotPay will be able to receive payment in their choice of currency whether it’s in fiat or digital currency at the current market rate.
Mining
Spotcoin mining operations is a major core business of Spotcoin in the Georgian region and it has recorded a huge success. To accommodate it's mining capabilities, Spotcoin is developing a 10MW mining facility in comparison to the current 1.1MW mining facility. Spotcoinring 12% profit from the mining business as dividends to stakeholders on a quarterly basis.
Token Economics
The SPOT Token, a NEO NEP-5 token was created primarily to oversee the paying of GAS in the form of dividends to token holders. Spotcoin is offering a total of 66,000,000 SPOT out of a total supply of 99,000,000 SPOT in Initial Coin Offering to fund the Spotcoin project. The pre-sale saw a massive interest and was over in just 2 days. The date for ICO hasn't been fixed but you can stay informed by visiting the official communication links.
Summary
Spotcoin platform is coming at a time where fragmentation has trailed digital currency exchanges, integrating it’s OTC marketplace, digital exchange, SpotPay, and mining business into a single cohesive unit, Spotcoin will be able to offer services beyond the current offerings. Achieving a market inclusion across the whole blockchain community in the process. Finally Spotcoin will be able to make digital currencies work for everyone.
Important Spotcoin ICO Links
Website: https://spotcoin.com
Whitepaper: https://spotcoin.com/whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3173867.0
Telegram: https://t.me/spotcointeam
My Bitcointalk Profile https://bitcointalk.org/index.php?action=profile;u=2171173