CafeCoin

eyang (26)in #bitcoin • 6 years ago

Since the debut of Bitcoin as the premier of all cryptocurrencies, thousands of tokens and coins has all trying to work on improve the idea of decentralization which is one of the unique feature of Bitcoin. Despite the improvement in many coins out there when compare to Bitcoin which is the first generation of cryptocurrency, none of them has fully achieved mainstream status in typical brick and mortar stores or online merchants as an accepted means of payment.

Though there are many crypto coin ATMs, hardware wallets, consumer marketing, and mainstream media furore but most crypto coins predominantly trade as a separate class of speculative digital assets which highly volatile. This make it very difficult to offer the much needed stability much needed for them to be used as a means of payment in online and offline stores as a viable alternative to fiat currency. In reality, most crypto behave like gold or other collectible items rather than units of value for everyday commercial transactions like paying for a cup of coffee.

There has been an attempt by Tether project to solve the issue of volatility but Tether do not have all the needed benefits for consumers and merchants for it to be accepted as a unit of payment in day-to-day transactions by the masses. For example, there is no incentives for users to adopt in the context of daily commercial activities.

Below are the reasons why Tether and other cryptocurrencies are ineffective for mass adoptions in day-to-day transactions:

They are not easy to access since they requires non-trivial technical knowledge
High transaction and exchange fees
Prolonged and inconvenient processing times
Price volatility or low to no potential for a price increase in value
Limited adoption by merchants and consumers
In today's world, cryptocurrencies generally possess limited real-world functionality. And because of this, the commercial value of crypto coins has been relagted to a few niche use cases. This is in opposite to the growing mobile payments industry which has continued to achieve and enjoy unprecedented global growth and mass adoption.

This is more evident among the the young generation, they prefer digital medium of exchange such as PayPal, Apple Pay, UnionPay, Venmo, and Alipay to options like credit cards, debit cards, and cash. All these mediums of payment however require interactions with one or more financial intermediaries and therefore lacks the benefits and efficiencies created from distributed ledger technology(DLT).

The CafeCoin Solution

The CafeCoin foundation envisions a system that will be able to satisfy global demand for a mass market oriented cryptocurrency that will be to find solutions to all fundamental roadblocks to broad commercial usage of crypto thereby achieving adoption by the masses.
This will be made possible in the following ways:

Building Corporate Relationships: Commencing with the high margin retail coffee shops, CafeCoin will offer incentives for both consumer and merchant adoption

Leveraging Innovative Payments Infrastructure: By leveraging on blockchain technology, it will be possible to achieve high volume of real-time transactions for exceedingly minimal fee in the marketplace.

Simplify Payment Processes: Access to coin liquidity by utilizing an intuitive mobile app and easy-to-use interface that operates independently or together with existing point of sales system.

Giving Customers Control & Privacy: Customers will have control over there historical payment on the blockchain allowing them to optionally share that information with merchants in return for instant individually tailored promotions and discounts.

CafeCoin will be an utility token that will be widely used as a means of purchasing consumers products and services.

CafeCoin ICO Details

Token Name: CAFECOIN
Token Sale Date: July 1, 2018 – August 31, 2018
Total Tokens: 100,000,000 TOKENS
Hard Cap: $150M
Soft Cap: $30M
Accepted: BTC, ETH, LTC, RPL, XRM, XRP, TETHER
Token Supply: 40.5M