Over the years cryptocurrency has benefited greatly from technology’s integration into every day life. Starting even before the explosion of the dot com era, electronic currency free from the shackles of a government entity had been the dream of the hardcore technophiles.
Starting with U.C. Santa Barbara’s David Chaum, who wrote a paper in 1983 titled ‘Blind Signatures for Untraceable Payments'. An automated, electronic payment system has been on the minds of cryptographers and technology innovators for decades. Chaum tried the real-world application of it in 1995 with ‘DigiCash’ but it failed due to a lack of adoption.
Others came after, but it wasn’t until Bitcoin in 2009 that we saw something that was able to stand for longer than a year or two. The key was its decentralized nature and the blockchain. Originally thought up in the early 1990s, the blockchain wasn’t much more than a concept until 2009 when Satoshi Nakamoto brought it to life in the form of Bitcoin.
The trouble we find ourselves in now as an industry is the same that Chaum experienced in 1995. He was quoted at the time saying, “It was hard to get enough merchants to accept it, so that you could get enough consumers to use it, or vice versa.”
Adoption and accessibility; the two major barriers for cryptocurrency today.
Adoption takes time and convincing, but it can be helped significantly with the improvement of access. And access right now is limited. It creates a bottleneck for investors. Currently, most novice users of crypto utilize Coinbase. The limited on-ramps hold people back from investing and result in missed opportunities for active investors.
CryptoFlow (CFL)
Honestly, I have seen a lot of ICOs and projects launch in the past year for this very purpose and most of them have been flat out underwhelming. It is an easy sell to investors because they know it is a problem and without execution, teams end up falling short of their objectives and the projects die. So, I was a little skeptical.
But once I dug into the CryptoFlow project and talked to the team, I got the sense that they too knew those things that I knew. That they too had seen the pitfalls of previous projects. The grandiose promises and the accelerated roadmaps that get investors excited, only to crash a few months later. It was a chief concern of theirs that things were done differently at CryptoFlow.
So what is it? In its simplest form, CryptoFlow is going to be a platform where investors can access cryptocurrency with their fiat currency quickly and securely, with minimal fees. Right now, the current options for using fiat for crypto are limited and usually very slow. Coinbase for example takes days for deposits to go through. All the while your investment opportunity may have dried up because of the volatility of the market.
Most importantly, it feels like the team is doing things the intelligent way. Based in the United Kingdom, CryptoFlow will only serve UK customers at the beginning. That should not come as a disappointment if you are an investor and here is why: CryptoFlow is doing everything ‘by the book’. The access, the paperwork, the licenses; all legitimate to make sure their platform has zero legal issues at any point in the future.
Once the UK Market is established, the team will then expand its services, methodically and legally, to the rest of Europe and the rest of the world. The UK is one of the toughest governments when it comes to cryptocurrency regulations so their ability to execute and be successful there will be a great indication to investors about the future of the platform in other countries.
The Coin
The CryptoFlow Coin was designed to be utilized as a no fee option when buying cryptocurrency through the platform. Instead of paying a small fee of up to 2% when buying one of the over 100+ coins that will be offered by CryptoFlow, which is a very small fee compared to other service providers, you can buy into crypto with the CFL coin for 0% fees. Every investor has a shared disdain for fees.
This provides utility and organic demand for the CFL coin. It has a maximum coin supply of 3 billion, comparable to IOTA at 2.8 billion max supply. It also has a 60 second block time for fast transactions. If you’re an investor, you have to get your hands on 100,000 coins to build a masternode, but you will be rewarded handsomely with their 90%/10% reward split between masternodes and staking wallets.
A question mark for investors will be the Premine. 10.4%. Usually if we see anything above 4% we run for the hills. Digging a little deeper, the Premine exists for a good reason and 10% of the 10.4% is locked away. A majority of those coins are earmarked for a Loyalty Program that will launch once the platform begins to earn revenue through user transaction fees. Once a month, 25% of the revenue will be shared with the masternode holders in the form of CFL coins. The better the company does, the more the masternode holders will earn.
Once the Premine coins are gone, I can only assume they will continue the Loyalty Program with a modified form of Proof-of-Consumption (PoCon). If you do not know what PoCon is, you can read about it here.
Wrap Up
The ‘humility approach’ for this project is refreshing. Realistic goals that you can objectively look at and go, “Yeah, that is doable.” In cryptocurrency, unfortunately hyperbole usually wins out. Teams offer big ideas, huge potential profit numbers, and usually extremely underwhelming results. A lot of projects just collapse into a pile of rubble of its own making; usually through hyperinflation and sagging investor confidence.
CryptoFlow is not offering its investors dreams of grandeur. What they are offering is a project that has done everything right thus far.
Listed on two exchanges with good volume, CryptoBridge and Crex24.
Listed on Masternodes.Online.
Listed on masternode hosting platform GIN.
Registered at Companies House in the UK Government.
Listed on Blockfolio, Delta, Coinlib, CoinGecko, Gentarium, Live Coin Watch.
Submitted for the Public 'Know Your Developer' (KYD) Verification.
Not bad for a coin that is less than three weeks old. The one thing I like about entrepreneurs is that they are motivated, work hard, and work fast. You can read about the team in the CryptoFlow White Paper. In my personal opinion, we need more people like this running projects. Let the developers develop, let the leaders lead, and let the investors know they are investing in something worth their time.
Website: http://cryptoflow.co.uk/
GIthub: https://github.com/CryptoFlowCoin/CryptoFlowCoin
BitcoinTalk Ann: https://bitcointalk.org/index.php?topic=4904615.0
Discord: https://discord.gg/TrnrcN4
Twitter: https://twitter.com/CryptoFlow7