While cryptocurrencies bring the promise of disrupting every vertical in society, they do not integrate with the current financial infrastructure in any significant way because of a host of shortcomings: high price volatility, latency of transaction times and lack of strategic relationships. What’s needed is a hybrid model that can truly provide the usability of a currency while retaining upside potential for investors.
UbiquiCoin, a new cryptocurrency, addresses all of these flaws and has developed an ecosystem that can reduce the cost associated with commerce and integrate with existing financial systems.
Two-Coin System Addresses Volatility
UbiquiCoin addresses the volatility issue with a unique two-coin system, in which one coin is stable in value and dedicated to commerce, while the second shares 20% in the ecosystem’s revenue and trades freely. This novel approach solves the challenge of price volatility for commercial use, while providing investors with a recurring dividend and upside participation.
The first coin is called a Transaction Coin, and like the name implies, is designed for use in all types of financial transactions. For example, Transaction Coins can be used for efficient money transfers by removing the costs associated with correspondent banking while allowing people to transact directly in real time. The stable price of these coins ensures both parties know the real value being exchanged, which is critical for being a form of commerce.
The second coin is called a Progressive Coin, which will be offered in the ICO. These coins are limited in number and receive 20% of revenue generated from UbiquiCoin’s ecosystem each month.
Distributions to Progressive Coins will rise as UbiquiCoin’s revenue increases, thus providing a rational reason for the coins to appreciate in value.
Highly Decentralized Network
UbiquiCoin addresses latency of transaction time through its new consensus mechanism called Proof of Majority, which provides sub-second transaction times via a truly decentralized network. As consumers know, transaction time is critical to making digital currency a viable purchasing mode.
In addition to a mobile app, UbiquiCoin will issue coin holders a card that operates similarly to a debit card that will link to UbiquiCoin wallets. Merchants will favor these cards since the fees will be lower than standard credit cards, and they will receive their funds faster.
The ability to store value digitally and access quick, efficient money transfers will be especially attractive to the unbanked and the underbanked, which have historically been plagued by predatory pricing and unfair business practices.
Pre-ICO And ICO Planned
UbiquiCoin will be accepting pre-ICO investment for its Progressive Coins beginning on Nov. 30, 2017.
There is a 400-million-coin cap for the ICO, including the pre-ICO sales.
Coins offered in the UbiquiCoin ICO are backed by a $1.00 per coin financial guarantee that gets paid to coin holders if any of the Triggering Events occur (see UbiquiCoin’s white paper for additional details.)
This provides true, quantifiable downside protection. Schneider Securities ltd., a licensed global financial institution with more than $7400 million in assets, has agreed to provide $50 million of that guarantee.
UbiquiCoin will provide an additional guarantee based on the size of the ICO, which it will back with its own pool of low risk, diversified investments.
Original article found at:
https://www.cryptocoinsnews.com/ubiquicoin-merges-cryptocurrency-existing-financial-systems/
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