Coti Review

Coti is a revolutionary next-generation currency. It serves the dual roles of being a payment processing platform and as a currency. According to a former veteran UK investment banker, Steven Heilbron, Coti is poised to rock the conventional financial markets due to its outstanding features namely that it’s simple to use, transparent, trustworthy, scalable and instant.

Features
1 – A new approach of the Trust Protocol is used in this payment system for building trust between transacting parties.

2 – Based on the behaviors of buyers and sellers over a period of time, this protocol systematically scores the trustworthiness between them.

3 – A seller with a less-than-ideal record pays higher fees while a seller with a flawless reputation pays zero processing fees.

4 – A decentralized system is also featured in this protocol and it efficiently reaches consensus on disputes using mediators.

5 – The mediators are rewarded with XCT just as Bitcoin miners receive Bitcoin for their mining efforts.

How is the COTI payment network better that Bitcoin and PayPal?

Payment transactions carried out by using PayPal and ICO tokens such as LALA World, TBIS, FintruX, CUBE consume a lot of money and time. The transaction might not be included in a block if the user pays a small fee while using Bitcoin. When facilitating a transaction, Bitcoin is not the best payment method.

COTI is a payment transaction network that systematically solves the payment challenges faced by the users while using Bitcoin and PayPal. It combines the best of blockchain technology with the best of the traditional payment system.

Token price and token sale

XCT tokens

1 – This payment network has the XCT native currency which is used for payments, mediations, and fees.

2 – In fact, XCT tokens have an excellent potential for future growth in comparison to other digital currencies and ICOs.

3 – XCT has its own wallet and virtual debit cards for processing tools, consumers, and hedging services for merchants.

XCT tokens

The ICO is the first opportunity for the general public to obtain XCT tokens. The total number of tokens available for sale during the ICOs of this digital currency is limited. The sale will be closed once the hard cap is reached.

How to participate in the ICO

1 – The participation in the token sale is a straightforward process. The general public has to enter their email on the website to receive notifications when the details of the crowd sale are release.

2 – The tokens will be available to purchase during the sale using Bitcoin, Ethereum, bank card, or wire transfer.

3 – At the end of the ICO sale, any token purchased by the members of the general public will be delivered to them.

XCT token allocation:
10% of the tokens will be allocated to the team, bounties, and early backers of this project.

50% of the tokens will be allocated to the future development of the project by the project developers.

40% of the tokens will be allocated to an advisor sale (private and public).

How funds raise from ICO is scheduled.
Research and Development (R&D): 25% of the funds will be used in the development of the trust protocol (trust scoring and mediation), the mediator and consumer client applications, the exchange applications, and the merchant integration tools.

Reserve: 10% of the proceeds will be set aside as reserve funds for compliance, R&D depending on requirements for network expansion, and future deployment to market marker.

Merchant Acquisition: 16% of the funds raised will be used to market this payment system to merchants. It will be a key aspect of fuelling this payment network, which builds acceptance of wallets.

Merchant Services: 12% of the funds raised will cover the delivery and maintenance of the non-software merchant services which includes hedging services.

Market marker: 15% of the funds collected through the ICO will be used to fund the automated market marker of COTI. It will effectively establish a healthy functioning market for its digital currency (XCT) and other currencies that flows through its ecosystem.

Legal and compliance: 10% of the proceeds will be used to build a global licensing footprint for its wallets, payment services, and exchange services.

Operational expenses: 7% of the total funds collected will be used to cover various operational expenses that will be incurred by COTI.

COTI funds: 5% of the funds will be set aside for the COTI funds. It will be used to kick-start the development of trust scoring and the mediation platform of COTI.

Team
This project is backed and supported by a team of experienced and dedicated professionals who hold expertise in their area of work. The core members of this project are:

Shahaf bar Geffen,

Andy Chin, Software Engineering.

Erol Hallufgil, Research and Software Engineering