COTI – The Global Payment Network for E-Commerce.

chamika (48)in #blockchain • 6 years ago

In recent years, the world has changed dramatically, and and new forms of commerce — including peer-to-peer transactions, online marketplaces, and cross-border eCommerce. Existing payment networks are not ideal for dealing with these new forms of trading. With the way in which both the blockchain and cryptocurrencies are continuing to explode, it’s not surprising to find that there are also options emerging that focus entirely on providing a payment solution for all of the various applications and businesses that are looking at moving into this arena. While digital currencies offer the promise of lower transaction fees and higher levels of approval, they face challenges and low adoption levels. Moreover, they are not equipped to handle the protection that consumers and sellers have become accustomed to. This is where COTI comes in best of blocked technologies to offer a new way for individuals to pay and a new way for merchants to accept payments

What is Coti?

COTI strives to be known by each merchant and individual, while it’s the easiest, fastest, cheapest and most reliable payment method. The native currency of the COTI network is named XCT, and it’s a way of network fees collecting a way of buyers/sellers exchange, and a way of mediators’ compensation. XCT supports instant and fee-free transactions and overcomes all the problems with scalability. The COTI’s mission is to ensure digital currencies to be widely used for payments and offer an ecosystem

ATTRIBUTES OF COTI

COTI has several characteristics which position it as the first digital currency that is fit for consumer-initiated payments use cases and will enable it to drive down transaction fees, drive up approval rates, and empower the world to unlock its full potential to engage in commerce:

Usable

Through a variety of apps and merchant tools, COTI is simple enough to be used by any consumer and straight-forward enough for any merchant to start accepting.

Zero-to-low fee

Consumers will not be charges a fees when paying with COTI, while merchants charges low-to-zero minimal fees depending on their over time.

Instant

Coti all transactions in the platform will be instantly like the major card networks, it is also scales to process thousands of transactions per second.

Fraud-resistant

Coti platform will shield users from their own errors and fraud – it will be one of a kind flexible, mediated cryptocurrency.

Compliant

Coti is built on robust regulatory grounds, and is non-anonymous, committed to anti-money laundering, and built to adapt to regulatory changes.

Team

Ico info

Token - COTI

Price - 1 COTI = 0.1 USD

Platform - Trustchain

Accepting - ETH, BTC

Hard cap - 30 000 000 USD

SALE: 15 JUNE – 1 JULY

Conclusion

To conclude, there are many that state that they are attempting to become the digital currency version of Paypal, and even though that is not exactly going to be a bad thing it does come across as being a rather high target to aim for.

There is no doubt that offering an effective payment system for digital currencies is needed, but then Coti is not the only one out there. They do plan on taking advantage of the anti-fraud measures that are almost customary with the blockchain and the use of Smart Contracts, and when you consider the realistic fears that people have surrounding this, then offering them a solution that is going to not involve them potentially losing their money is an attractive proposition.

Finally, the review and trust aspect is good news, and that alone is capable of making a significant difference in choosing as to whether or not someone should work with a particular user. Considering the number of potential partners out there, the way in which you can pick and choose who you trust does make life that bit easier.