In social life, we often do the so-called buying and selling to meet the needs of our lives. In the past there was nothing to buy and buy is the exchange of goods or crops (plants, fruits, fish and others) between people with each other. Because sometimes have different exchange rates, finally humans create a medium of exchange called money, which by using the money bias get the goods in accordance with its value. But again there is a problem where in some countries paper money is sometimes changed the shape of the image so that it costs to print again, and the cost is not small.
Digitize Project
To reduce the number of paper and ink used to print paper money, the digitize project has an idea to convert the money in paper form into a digital value. Due to the enormous market potential that will certainly result in many transactions even reaching millions of transactions in one year and security is the main thing for consumers, therefore the digitize project using Blockchain technology and smart contract to overcome it. The smart contract also acts as an escrow system for the safe storage and release of funds or other digital values without the need for third-parties. Smart Contract tokens guarantee against fraud and scams due to the fact that the contract executes only when specified terms have been met and these terms can be viewed and ratified by counterparties before implementation.
An example of a digitize project workflow can be seen in the following diagram:
participants included in the project portion of the digitize ecosystem include:
- Retailers
Retailers are companies or individual retailers in the business of selling products and services, directly to the public. They range from local corner shops, petrol stations, to large grocery stores. Digitize incentivize retailers to use the platform by providing transactional revenue of 2% each time a consumer deposits change into their wallet. - Consumers
Consumers are the individuals that will use Digitize services. Consumers will be required to download our mobile application and complete a KYC process to access the Digitize platform and will be able to access an online suite of tutorials and manuals to learn how to use Digitize. - Platform
The Digitize platform is a decentralized marketplace that allows retailers to join, offer Digitize tokens for sale, carry out promotions and receive feedback from consumers. It enables consumers to purchase cryptocurrencies at the point of sale and participate in rewards programs.
More easily can be seen through the diagram as follows:
Digitize project will be developing and publishing a website and mobile app for both businesses and consumers to use which will make it easy to transact and store Digitize Tokens. The app will be available for both Android and IOS platforms.
About Digitize Token
The Digitize token is a core component of the Digitize ecosystem and is designed to facilitate transactions and operations on the Digitize network. All applications and tools that support Digitize tokens will enforce a high level of security, including two-factor authentication. The token balances and transfers will be tracked by Digitize. Digitize tokens can be used as payments to registered retailers, used to exchange into other cryptocurrencies, invest into the crypto-index or withdrawn to local currencies.
The conclusion and main purpose of this digitize project is to help the transition from traditional currency into digital currency. Besides it also helps keep our money safer in this modern era, takes up space in your wallet or purse, hassle to take out and spend, and avoiding lost and dropped.
Website: https://digitizecoin.com/
Bountyhive Username: anggaps
Referral: https://bountyhive.io/r/anggaps