With current cryptocurrency payments in commerce, there is a problem - no possible refunds. These guys want to fix current problems of online scams with their very own Trust Protocol.
Coti - Currency of the Internet
The main problem of current cryptos is their volatility of price, no general acceptation and lack of trust between buyers and sellers due to the impossibility to reverse anything. COTI plans to make a currency and payment ecosystem that wont have any of those issues.
Trustchain Protocol
The main interesting point here is their very own protocol where seller won't be scared of chargebacks and buyer from sellers not delivering. To fully understand clusters and other parts of the idea you will need to read the whole whitepaper but the base can be learnt from below video.
Team and Advisors
There is a really solid team behind the project with people who are from/worked with Processing.com, Ripple Labs, Investec Bank UK, Mizrahi Tfahot Bank, IBM or Yahoo.
Token Sale
It will start soon to get in line you should subscribe with email at https://coti.io/token.html
Overview: https://coti.io/files/COTI-overview-document.pdf
Whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
Token Economy: https://coti.io/files/COTI-Token-Sale-Summary.pdf
This post is just an information. As always remember to do your own research before investing in anything.
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you can RT to get visibility of Steemit from supporters of this ICO - https://twitter.com/kingscrownBTC/status/978074912735850496
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Disclaimer: I am just a bot trying to be helpful.
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Bitcoin was designed to have no refunds. Part of the appeal from a retailer perspective is the lack of charge backs.
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it has got a very huge scope in india
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look close with an open mind with what this new concept is doing with open source Ethereum ERC-20 smart contracts, decentralized exchange and passive income. The game is on it's way to passing the crypto kitties game on the Dapp Radar
https://powh.io/?masternode=0x32c37e7ca38be1f85cd9e85c81ac9b6730f43e3e
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good idea for a token
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@kingscrown your post is very interesting, you always make important comments and deserves to be praised
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What a good publication friend I follow you I am new to this platform and this type of orientation is very interesting. Regards my friend
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good post @kingscrown. always good to hear about new initiatives. (part of the steemit attraction) and it's an interesting argument but I also kind of agree with @crypticat (cats are so good at spotting perceptual glitches) with the idea of no refunds being a slight misnomer.
I think the perception is that there's no possibility of refunds, because in theory you may never find out who a particular wallet belongs to but if you are buying something from a business and they give you an address then you do.. and then it's no different to any other method of payment. Reputation is what most business is built on and if someone sells you something that's broken or not fit for purpose, it's generally in their own interest to issue refunds.. crypto, cash or whatever else you paid in ! There are a lot of payment projects popping up recently so it's anyone's guess who will survive and flourish.. I'm guessing there's room for several players with different approaches and I suppose those who establish existing business partnerships /offer lowest fees will fare better in the long run. look at cobinhood. zero fee exchange. I think they will do ok and may end up getting / absorbed (gobbled up) by the big fish later on
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Followed you
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Very vital info, i have learnt something today, followed you!
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Coti is an interesting concept but I disagree with the no refunds idea. People can simply send your coins back to you. I've had refunds in steemit and other coins. You can't click cancel or call the refund yourself but the receiving party can send it back or lose your future trust and risk reputational damage.
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Current cryptos is still worrying investor. Although the paper listed very well but in the end investor still have to take the risk of the company success.
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Congratulations @kingscrown, this post is the forth most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 332 and the total pending payments to posts in this category was $4427.78. To see the full list of highest paid posts across all accounts categories, click here.
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I think that it is very sad that this account is only used for promotion... Why have you lost your quality content? :(
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all i have to say is the blockchain just got start and many corrections are yet to come. The is just the beta phase and we know it. Probably we should give it two more years to become stable and growth will begin. Already the blockchain is here to stay, what we do with it is what will matter.
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