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The number of people and institutions looking to transact in crypto assets is expected to grow exponentially. However, there remain substantial obstacles in settlement of transactions converting crypto assets to and from financial assets or conventional currencies. In addition, there is often a lack of transparency and trust in engaging with counterparties using crypto assets.

A project aims to bridge the gap between legacy financial markets and emerging digital asset ecosystems by adding trust to the fragmented landscape of new digital assets and transparently handling complex transactions while matching orders and removing market inefficiencies.

Source

Spotcoin is developing a complete digital asset management toolkit. One intuitive interface that will provide access to digital asset markets, over-the-counter trading (OTC), mining and payments. Spotpay allows for fast, cheap, convenient retail transactions using digital assets. The Spotcoin toolkit is designed from the ground up to integrate with the entire digital asset ecosystem, simplifying the total user experience.

Spotcoin access to working capital, diversified and well-supplied digital resources accounts, it was able to provide fast and effective solutions for the customers by offering transactions that were much closer to the cash price at the start of the transaction. Spotcoin has processed over $1 million per month in transactions just two months after its launch in November 2016. Our demonstration of the concept has been confirmed as market demand has increased. The company closed over $5 million in operations at the end of the second quarter. Because of the overwhelming response, the founders recognized that the company needed further investment to grow its OTC business and expand its range of businesses. As we approach 2020, pioneers like Spotcoin remodel and further define the digital goods market and its effects on the global economy. Spotcoin will be embedded in the NEO blockchain network.

Spotcoin is been built on Neo Blockchain. NEO is an open source and non-profit blockchain token platform, supported by the community that aims to create a distributed "Smart Economy" network. NEO is ideal for providing the platform that best supports Spotcoin's vision for the future. NEO has been specifically designed to meet the legal and regulatory requirements for fungible and non-expendable digital resources. NEO also incorporates digital identities that make your network and any token created on it, ideal for meeting your client's (KYC) and anti-money laundering (AML) requirements.

Core Components Of Spotcoin Ecosystem

1. OTC Marketplace- Due to the limited availability of liquidity, digital asset exchanges typically impose stringent limitations on daily and monthly withdrawals and deposits. Spotcoin works with multiple banks in Europe to facilitate high value bank transfers. Spotcoin highvolume clients receive effective, efficient trading with quality assurance due to their redundant banking relationships. Sppotcoin proven model continues to experience rising demand in trading volume, Spotcoin is actively establishing additional banking relationships to further increase its fiat liquidity.

2. Digital Exchange- Spotcoin is developing an exchange, built from the ground up to directly address the regional market demand for digital assets. Currently, there are few exchanges that support fiat currency in the Black Sea Region and the majority have a limited number of trading pairs. Our exchange will support the following regional fiat currencies: Georgian Lari (GEL), Ukrainian Hryvnia (UAH), Romanian Lei (RON), Moldovan Leu (MDL), Russian Rubles (RUB), Bulgarian Leva (BGN), Turkish Lira (TRY), Armenian Dram (AMD) as well as Euros (EUR) and US Dollars (USD). Spotcoin’s exchange will provide support in English, Russian, Mandarin, Georgian, and Armenian languages at launch
   

3. Spotpay- Spotpay will provide a secure point of sale (POS) system solution for brick and mortar retail establishments as well as an easy to use, drop-in payment widget for all major shopping cart platforms and a consistent API with supporting libraries. Spotpay will leverage Spotcore and the digital asset exchange to provide instantaneous payouts in the merchant’s desired currency (fiat, digital or a combination of the two) with transactions occurring at the current market price. Spotpay will provide a digital asset payment API that is simple, yet powerful, consistent and well documented. In addition, customizable pre-build UI components will be available to enable drop-in integration with existing websites.

4. Mining- Georgia generates more than 75% of its electricity from hydropower giving it the highest proportion of total hydroelectric energy production in the world. Georgia is the second most popular country for Bitcoin mining the world, capturing 15% of the global market. Spotcoin partners with the Zhinvali Dam on the Aragvi River which has a total capacity of 130 MW. Together with its partners, Spotcoin is currently utilizing 1.1MW of capacity in Zhinvali and other sites in Georgia. The public rate for electricity in Georgia is less than 6 cents per kW Blockchain in bulk. Spotcoin can further reduce this cost by working directly with the power plants.

5. Black Sea Blockchain Institute- The Black Sea Region is a hub of blockchain activity with an estimated 20% of Georgia’s university students directly involved in blockchain technology in some capacity. The region reflects the desperate need for expertise and education to harness and guide the technology toward the future. In the United States, blockchain developers living in high-tech corridors, earn an 18% premium over their peers.
   Spotcoin is addressing knowledge gaps in blockchain technologies by establishing the Black Sea Blockchain Institute (BSBI). BSBI will form wide ranging strategic partnerships with educators, innovators and government representatives to facilitate education, research and innovation.
   

   ICO Details and Spot Token Specification

   
   Spotcoin will hold a Private Placement (PP) and Initial Coin Offering (ICO) to raise capital for the expansion of its business. The coin offering will be on Neon Blockchain. The token is an utility token which will be used for different purpose in the ecosystem.

SPOT token holders will be entitled to a weekly dividend of 51% of the total trading fees generated by Spoitcoin’s digital asset exchange. SPOT token holders are also entitled to an additional quarterly dividend of 12% of the net profits derived from Spotcoin’s mining, OTC and Spotpay payments businesses.

Project Team

Project Advisors

Conclusion

A project with an experienced team, working products and a well lay out roadmap for global expansion. Spotcoin is not a whitepaper project and the team has what it takes to make this project successful.

UseFul Links

Project Website

Whitepaper

ANN Thread

Github

Telegram Open Chat

Written by Adeyinka Joshua

Bitcointalk Username: Adebits

Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1249179

Email Address: [email protected]