Korona Coin is an ambitious project that is trying to bring cryptocurrency to Europe. Korona Coin’s goal is to become a platform for buying and selling goods all throughout the European market. Korona Coin would allow users to buy and sell goods both online and in-store, which is a departure from most cryptocurrency projects which are online focused. The Korona Coin whitepaper does a good job at explaining the team’s vision and their mission for success. The project offers several bank-like features, including tax services, a fiat exchange, a wallet, and low-cost payments. Let’s examine the Korona Coin whitepaper.
What Is The Korona Coin Vision?
Centralized systems are slowly losing consumer confidence. Consumers have found that decentralized systems provide them with more democratized information in the form of instant media content, information flow, and value exchange. This change to decentralization is happening across all ecosystems, including the financial sector. The internet started the push for decentralization, but blockchain technology is helping it evolve to meet the demands of the 21st century. Korona Coin sees its platform as a tool for the decentralization of commerce and financial markets.
How Does The Payment Framework Operate?
Korona Coin’s team understands that their platform requires a complex framework. Even if the user has a relatively simple interface, there are multiple stakeholders in the ecosystem and all of their needs must be met. Korona Coin understands the need to meet regulatory requirements in the European Union, for example. The platform will enable payment systems for e-commerce retailers by creating a new digital payment platform that can be integrated into third-party online stores. Korona developed the API with both protection and safety of consumers and business owners in mind.
How Does The Integrated Ecosystem Work?
The Korona Coin integrated ecosystem is detailed in the project’s whitepaper. The Korona Cryptobank is at the center of the entire ecosystem, with payments going back and forth between the internal platform bank and external exchanges. Money from the Korona Cryptobank then flows to other points, such as the Korona Payment Framework. From here, cryptocurrency can be distributed to user wallets, can be used for smartphone payments, or used in the Korona Market web store. Users utilizing the Korona Cryptobank can access taxation and legal support, access token rewards for merchants, and access client services and loan provisions. The entire system is integrated in order to create a sustainable model that can encourage mass adoption.
Korona Coin has already had success with marketing (https://bountyhive.io/join/Korona%20Coin). The team has done a fantastic job of getting their name out there. But success is going to mean adoption. Businesses and individuals are going to have to leave their current systems and move to the Korona Coin ecosystem. It sounds like a high hurdle, but Korona Coin has a solid chance of reaching their goal. They are hyper-focused on the European market, which will help them to be more efficient with time, money, and resources. Korona Coin is one of the more intriguing projects this year, and cryptocurrency enthusiasts and financial analysts will be watching to see how the platform performs.
Written by: liveheart
BountyHive ID: liveheart