Digitize Coin: Convert Cash to Cryptocurrency. Instantly.

tuvic (44)in #digitizecoin • 6 years ago

Using physical cash has been attributed with a lot of challenges ranging from its high cost of production to problem associated with carrying cash around like lost, theft and the likes. It has been estimates that the global market for security printing will reach US$35.3billion in 2018. This is an alarming figure knowing fully well we can avoid this.
Physical cash can also be a source of loss of consumers. An average Australian adult loses $60 in loose change per annum this is equal to more than $466million yearly in lost change. Almost half of the American population does not prefer to carry coins around and according to a recent survey over 2000 American gives affirmation to this.

With so much coming from government, business and even consumers, shifting from a cash to digital form of currency and payment becomes inevitable.

With so much problem attributed to physical currency and a very clear conviction to move to a digital currency, there is a need for a very simple and seamless platform for consumers to be able to simply and quickly exchange physical currency for cryptocurrency which the Digitize platform intend to solve.

Carrying coins in your pockets or wallet can be frustrating and uncomfortable for most. Further, purchasing of cryptocurrency can be daunting for the average consumer and the cost of producing, transacting in, and carrying physical currency is high. Digitize allows consumers to instantly convert spare change to crypto at the point-of-sale making it easy for consumers to purchase crypto as well as save change into a digital piggy bank.
source

source

Digitize as an ecosystem intend to provide users with digital wallet allowing them to save their loose change and cash digitally at the point of a transaction. With Digitize platform there is no need to carry loose change this promoting transaction from a cash to a digital based economy. This will reduce the physical manufacturing cost as well as reducing the challenges associated with physical change.

With the Digitize ecosystem’s idea to move from physical currency to digital base economy it will strengthen the cryptocurrency market by bringing an additional revenue stream into the cryptocurrency through loose change. Many developing nations still uses the cash transaction therefor the Digitize aim to target the south Asian market where cash transaction are very dominant in an aim to assist in the transaction towards digital wallets.

The Digital platform will come in a mobile application downloadable by everyone. To be able to use this application well, the digitize will offer an online tutorials and manuals.

source

PHYSICAL CURRENCY CHALLENGES

One of the major factor why many government want to move away from the physical currency is the highest cost involve in manufacturing the coin and notes. Funnily enough some if the coin and bites cost more to produce than what they actually worth.

source

COMPLEXITY

Presently to buy or hold cryptocurrency, it typically involves, registering at an exchange, wiring funds and setting up a wallet this steps are complex and challenging to those unfamiliar with the cryptocurrency market. Digitize aim to solve this problem through several end user layer including a mobile wallet and mainstream adoption.

ECOSYSTEM PARTICIPATION

The ecosystem will involve the following participants which will participates as shown in the diagram
• Platform
• Retailers
• Consumer

source

PLATFORM

The Digitize platform is a decentralized market place that allows retailers to join, offer Digitize token for sale, carry out promotions and receive feedback from consumers. The platform enables consumers to purchase cryptocurrencies at the point of sale and participate in the rewards programs.

ROADMAP

source

DIGITIZE TOKEN

The digitize token is planned to be the only means of exchange for handling any type of rewards and one of the means of payment within the Digitize Ecosystem. With Digitize token you will be able to exchange for local currencies including other popular cryptocurrencies.
After the ICO, every contributors will be given their Digitize token via the Ethereum wallet.