Digitize: A Convenient Platform for Converting Loose Change Into Virtual Currencies

obicryptos (33)in #blockchain • 7 years ago

Since the idea of Bitcoin was accepted and implemented, other cryptocurrencies have also appeared in the market. Some people who know the advantages of using those virtual currencies welcome the change gladly. But others still have no idea of why they have to use cryptocurrencies.

Imagine, human have used physical currencies since thousands of years ago, and all of sudden the technology has grown rapidly and offers you the opposite form of currencies. We cannot blame such a way of thinking. But actually, there are several challenges faced by physical currencies which only can be solved by the usage of cryptocurrencies.

The followings are the challenges or problems which are faced by physical currencies. It is important to bear in mind that the physical currencies which will be mentioned here include but not limited to loose change.

Challenges of Physical Currencies

The first challenge is the high cost needed to produce and handle physical cash. According to the Wall Street Survivor Blog (2018), even the production of the coin: the smallest value of physical currencies, cost more than its actual worth.

Then, believe it or not, physical currencies is also one of the causes of consumers loss. Apparently, consumers are tiring of carrying coins, so that retailers who often give the loose change to its consumers have the risk of consumers loss.

Instead of carrying coins with small values and being disturbed by the sound from their pocket, people need something as simple as carrying their phones and their wallet. Digitize, with the aim to introduce cryptocurrencies to the world, offers you even a much simpler way to bring your money: carrying your phones with your loose change inside of it.

Digitize Solves the Problem

Since cryptocurrency is a virtual currency, it does not need high costs of manufacturing. Besides, you do not have to carry this kind of currency in your pocket or being annoyed because of the sound it makes in your wallet. Yet, regardless the advantages it has brought and will bring in the future, the adoption of digital currencies is still low. The major cause the complexity of dealing with cryptocurrencies.

Digitize solves this problem by offers you a platform in which you can have a mobile wallet and use cryptocurrencies with mainstream adoption. For example, if other platforms use private and public keys, Digitize will simply use a password-based system that is easier to be used by the users. Both of consumers and retailers will have their own mobile wallets.

What makes it simpler and easier to use, the Digitize mobile wallet will be available on major apps store to be downloaded and installed. This Digitize mobile wallet will be available for Android and IOS.

To be a part of this convenient ecosystem, firstly you should download the Digitize mobile application. Then, you should create an account on the platform, identify yourself as a consumer or a retailer. After that, you will be required to complete Know Your Customer (KYC) and Anti-Money Laundering (AML). If you agree with the policy and complete the registration process, the platform will create your user profile and wallet.

ICO Information

Digitize Platform has its own tokens called Digitize Tokens. These tokens will be used within the ecosystem and will facilitate all of the transactions between retailers and consumers. Retailers could offer their consumers Digitize tokens as the change instead of loose change or an amount of cash. Later, the tokens can be converted into fiat currency.

The pre-sale of Digitize tokens is started on April 06th, 2018 and the ICO will be held on May 4th, 2018 with the total supply 200,000,000 tokens. In order to get the newest and further information about Digitize tokens and its ICO, you are highly recommended to contact the Digitize team at [email protected]