Digital currency built for payments

in #business6 years ago

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Trade processes take place every day, especially in the Internet. Shopping online, money transactions have become an integral part of our life. Transactional volumes exceed every year. With the development of digital technologies new ways of payment appear. Digital currencies – are our future, which soon will be able to replace banknotes, credit cards and coins. These currencies can help us to transact in an easy and very quick way. One more important thing is safety, which will be provided by digital currencies.

Today there are new forms of trade relations in the Internet. Payment systems that function nowadays are not so widely spread and do not guarantee security. COTI – is a future Internet currency. It will make all the transactions easy and low-cost.

For example, let’s take Bitcoin. This digital currency has become a base for creation of new ways of payments. But still there are some difficulties – payments are not so fast and there is no trust-based system. COTI is used for providing effective work in the transaction systems.

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WHAT IS COTI?
COTI uses its own digital currency. It is one of the most effective payment systems. It is created in order to provide safe payments between a buyer and a seller. It contains trade tools, consumer issues and cash exchange facility.

The COTI team has worked out a new mechanism of exchange infrastructure based on Trustchain and Mediation System.

COTI is based on Trust Scores, which evaluate the reliability of buyers and sellers. For example, a seller with excellent reputation will not pay any fees. And, on the contrary, a seller with doubtful cash transactions will pay much more.

If any questions or problems occur, there will be mediators. They will help with all the decisions very quickly. By the way, these mediators will be given COTI’s own currency.

2018 - The services of COTI will be limited to test net. The basic functions of sending off and getting COTI coins will be provided. The Trust Score Algorithm is going to be set.

2019 – it is planned to create wallets and run nodes. Trust Scoring points will be calculated. The iOS, Android and web apps will support COTI. The Trust Scores will be watched in the statistical parameters. The Mediation System will be organized.

2020 – the users will be able to get debit cards. By the way, there will be no requirements as for fees.

2021 – the Mediators network will be expanded. The launch pad of COTI’s Trust Scoring will coincide with the launch of the Fund of COTI.

COTI – is a new challenge. It will surely be successful and everyone will be able to see its advantages.

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TEAM
Many professionals and blockchain experts are engaged in the development of COTI. All of them have some experience in the cash payments. Shahaf Bar-Geffen – is a CEO. Dr. Nir Haloani – is a CTO. Tal Dadia – is a Research Engineer. There are also software engineers, cryptographers, business developers and market managers. All the team members are supported by the world famous advisers in banking and marketing spheres.

More detailed information you can find on the project official site, will be able to join the official social networks and ask all the needed questions. Look through the roadmap and be aware of all the events, news and all the coming updates. Having read the technical document you will know about the details, also you will be able to join selling and get aquainted with the team. I will give all the links below.