As i was scrolling on my whatsapp messages earlier today, in our of the group, i notice message and link on a new crypto coin that was form in october 2017. Going through its white paper , the BorneoCoin aim is for the coin to be used as the main currency in BorneoCoin’s tourism projects. BorneoCoin will provide cashless payment system that is secure with lower debit and credit fees between consumers and vendors.

Interestingly , the faces behind BorneoCoin will launch ICOs as a form of crowdfunding to start projects starting with Sabah’s tourism sector. Using Digibyte platform they believe it will enable fastest and secure transactions, they also claimed that BorneoCoin has Back up of more than 15,000 potential partners in Borneo. Let me repeat the word that was used, they claimed that they have BACK UP of more the 15k POTENTIAL partners in Borneo. i am not entirely sure if these two word suitable to be hand in hand during ICO to gain confidence.

Anyway, according to them with digibyte platform , BorneoCoin will become the fastest growing network which providing a safe, transparent and seamless system using BorneoCoin as the main method of payment.

Bigger question , what is the real reason behind borneocoin. In their defense , following is the main reason.

" Many businesses have started accepting Bitcoin but as the community grows bigger and the value of Bitcoin goes up, realistically speaking, micropayments become more difficult. The amount of “dust” due to microtransactions in the Bitcoin network is considered uneconomic and are discouraged by setting a higher fee. There is also a chance of delayed transactions as there not much incentives for miners to pick up the transaction to put into blocks. A digital currency with a smaller exchange rate makes more sense at this point"

Honestly, lets discuss and think about this for a second. Doesn't the above sound familiar. LOL

Well, if they manage to pull it through, then that will be awesome as they carry a big regional brand. As for me all i see is red flags. but lets be fair, do check out their whitepaper

Another document i really wish i could see is their survey research document on acceptance of BorneoCoins in the tourism industry particularly traders. it it were up to me, i would prefer steem coin and as for now the is a tattoo artist, a doctor and a tour operator that is accepting steem.

Well, I wish them luck .