Some ICOs are about building a new crypto exchange believing they can revolutionize coin trading. Others are working on providing better ways to purchase crypto or pay with it. Another category of ICO-project founders are creating cost-efficient mining centers. Each type wants to change the world — and make millions, of course.
Needless to say, most fail on this path — which does not prevent others from attempting, though. Spotcoin believes that by offering a solution that integrates crypto mining, operations, and exchange they will achieve a competitive advantage which is enough to make their project a success.
Simple liquidity
Spotcoin promises to make the process of managing crypto assets easy for everyone by providing direct access and simple liquidity. Their ecosystem is comprised of miners, traders, and retailers. The core technology behind the project is Spotcore, an engine that provides liquidity and integrates with each of the solutions with Spocoin.The platform is being built upon the existing business that includes mining facilities, educational center, and clearing house.
Spotcore, an engine accessed via user interface
Spotcoin users will be provided with an interface giving them access to the key features of integrated into the whole by Spotcore. Spotcore is a process-mapping engine that is comprised of automatic checks on wallet balances, exchanges between fiats and crypto, and trade matching. The SPOT token will be the main accounting currency within the Spotcoin platform.
One-stop crypto shop
Marketplace
Spotcoin began as a clearing house facilitating operations between fiats and crypto. Now they are building an automated over-the-counter marketplace intended to take the lead in facilitating trusted over-the-counter trades in crypto.1.1MW Mining Facility
Spotcoin is backed by its own sustainable mining farm using hydroelectric power. The new facility they are building is thought to accommodate up to 4,500 GPU miners.Fiat and crypto exchange
Trading pairs with four major cryptocurrencies, GAS, BTC, ETH, and SIB, will be facilitated. Liquidity will be provided by Spotcore, the proprietary order matching engineSpotpay system
A solution for retailers, Spotpay will include a crypto payment widget, an API, and app-based digital wallets that will enable consumers to pay for services and goods.Competition
We have seen a lot of attempts to create a crypto exchange and a payment system that allows purchasing with various coins lately. Most of these platforms are being created by blockchain enthusiasts from the ground up, while Spotcoin is building upon their own blockchain business that has been live since 2016. Back then, it began as a clearing house in the Georgian capital of Tbilisi acting as an exchange office for crypto and fiats. It has then grown into what they called a ‘multifaceted powerhouse’ which combines mining facilities and educational services.
Another thing that makes Spotcoin unique is their focus on the Black Sea region. In addition to the platform, they aim to establish the Black Sea Blockchain Institute that is thought as a research and training center, and as an ICO accelerator.SPOC token sale summary
Conclusion
The solution provided by Spotcoin is a complex one. Therefore, it is not easy to articulate it in one sentence. They explain it as “We make digital currencies work for everyone”, which sounds too vague as a mission statement because this could mean anything. We would recommend that Spotcoin articulates their goals the way making them clear to investors and the general audience.
On the bright side, the founding and management team behind Spotcoin is comprised of experts who have been in the relevant business for a while now. We especially like that they are working on a global project with the focus on their region, planning to develop a community around it. Furthermore, Spotcoin already has a story behind it showing the team’s ability to do business with crypto. We will definitely keep an eye on this project.
Links:
Website: https://www.spotcoin.com/Whitepaper: https://www.spotcoin.com/whitepaper.pdf
Telegram: https://t.me/spotcointeam
Twitter: https://twitter.com/therealspotcoin
Facebook: https://www.facebook.com/spotcoin/
Author: https://bitcointalk.org/index.php?action=profile;u=980049