With the rapid growth of crypto and blockchain technologies, the community are increasingly in need of an intuitive solution that will provide all of users with direct access to digital assets and reliable, simple liquidity. This is where Spotcoin enters the market with the aim to create an economic platform that bridges the gap between familiar financial markets and new digital assets ecosystems.
A little bit of history
Spotcoin was founded in 2016 in Georgia, one of the first countries in the world to integrate blockchain technology into public data systems. After only two months after launch, Spotcoin processed over $1M per month in trades with the subsequent $5M by the end of its second quarter in operation. The company became the market leader in the Black Sea region conducting over $10M in OTC trade volume in 2017. This success attracted the attention of investors, which allowed the company to grow from 3 to 35 employees.
" Our team was formed under a unified vision operating upon trust, integrity and responsibility. I hold each team member accountable to our company standards and core values."
— Tim Gick - Spotcoin Chief Executive Officer
NEO as main blockchain platform
NEO has been created to shift our traditional economy into the new era of the "Smart Economy". NEO is suited to respect both privacy and regulatory concerns and also supported by great community that actively improving platform. Transaction speed is important when choosing blockchain platform for the ICO. NEO boast 10,000 transactions per second, and aims to increase this to 100,000 in 2020. This qualitatively distinguishes NEO among the main competitor Ethereum which currently manages only 15 transactions per second.
Key objectives and products
The team aims to create a blockchain ecosystem in the Black Sea region and intends to build a set of services to make decentralized technology an integral part of daily interactions with the digital currencies. The Spotcoin digital asset ecosystem, powered by the Spotcore engine, will include cryptocurrency exchange integrated with their already existing OTC platform, a payment system for daily transactions, massive 1.1MW hydroelectric power mining facility, and the Black Sea Blockchain Institute. One simple and intuitive interface will allow customers to derive the full benefit of the smart economy.
Over-The-Counter (OTC) Marketplace
There are a number of problems on the digital assets market right now, including fiat exchange limitations, lack of proven brokers, limited means to connect large traders of digital assets, non-responsive customer service. Spotcoin's OTC aimed at solving all these problems.
To facilitate high value bank transfers Spotcoin works with multiple banks in Europe which allows customers receive effective, efficient trading with quality assurance. Any OTC client trading in excess of US $1 million per month is assigned Ambassador Spotcoin that will provide individual service for each trade.
Digital and Fiat Exchange
Spotcoin is developing an exchange, which will support regional fiat currencies as well as Euros and US Dollars. Also will be provided support in English, Russian, Mandarin, Georgian, and Armenian languages at launch. Spotcoin will engage an accounting firm to conduct quarterly audits that allows to make the process transparent.
Here's Spotcoin compared with four other exchanges:
Spotpay
Spotpay will serve as the main payment system which will provide consumers with a secure payment widget, an API and app-based digital wallets that will make your transactions fast, inexpensive and secure. All fees will be absolutely transparent and displayed to both the buyer and seller.
The Mining Facility
Spotcoin, as a member of the Georgian Mining Hosting Association, has designed and initiated an environmentally friendly $3.25M facility utilizing hydroelectric power scalable up to 25MW. More than 20 highly qualified engineers and technical specialists are involved in supporting mining operations. Speaking of numbers, 2,250 GPU Miners will be placed on the territory of 756 square meters with additional capacity to host 4,500 units.
Initial Coin Offering (ICO) details:
Token Name: SPOT
Maximum token supply: 99,000,000 SPOT
Standard: NEO NEP-5 Token
Minimum purchase: 50 SPOT
Maximum purchase: 1,000,000 SPOT
Public Sale price: $0.50
Soft Cap: $5,000,000
Hard Cap: $30,000,000
Accepted forms of payment: GAS / NEO / BTC / ETH / SIB / USD / EUR
Token use: Dividend Token
Unsold tokens will be burned
The recent Pre-ICO stage ended with a great success which confirms huge interest from investors and crypto community. Main sale dates will be announced soon.
If you are interested in Spotcoin and want to get more information about the project, please use the links below:
Website: https://www.spotcoin.com/
Whitepaper: https://www.spotcoin.com/whitepaper.pdf
Telegram: https://t.me/spotcointeam
Facebook: https://www.facebook.com/spotcoin/
Twitter: https://twitter.com/therealspotcoin
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3173859.0