Introduction about Digitze
Digitize is an ecosystem which will provide users with a digital wallet, and allow them to save their loose change and cash digitally, at the point of a transaction. Digitize removes the need to carry loose-change and promote the transition from a cash to a digital based economy, which will reduce physical currency manufacturing cost, as well as reducing the challenges associated with physical change.
The Digitize ecosystem will also strengthen the cryptocurrency market by bringing an additional revenue stream into cryptocurrencies through loose change. Although majority of the western world is adopting digital payments, many developing nations are still widely run on cash transactions. Digitize aims to assist in the transition of cash into digital wallets; we will target the South Asian markets where cash transactions are dominant, in an aim to assist in the transition towards digital wallets.
The Digitize platform will be a readily available mobile application which can be downloaded by virtually anyone. Digitize will offer a range of online tutorials and manuals for the public to view and understand the operation of the application and platform. Saved digitize tokens can be used as payments to registered retailers, used to exchange into other cryptocurrencies, invest into the crypto-index or withdrawn for local currencies. Users will be undergo complete KYC to ensure regulatory compliance.
Digitize is targeting the general public and consumer directly by solving a real world problem. Most cryptocurrencies today are tech heavy and hard to understand for the average consumer which is a barrier for the mainstream adoption of the technology. We plan to solve this by developing a service that helps consumers convert loose change to virtual currencies and remove the frustration of carrying and saving loose change entirely. By making this process a simple and seamless experience we can help bring the public into the crypto world, one coin at a time.
GLOBAL BLOCKCHAIN MARKET
• The Blockchain market is one of the largest technology markets in the world, it is expected to reach $7.74 billion USD by 2024.
• The increasing demand from financial services, healthcare, consumer products and technology is expected to drive this rapid growth.
• The Blockchain industry is reaching a global tipping point of adoption, with much of its growth expected to come with start-ups and new adopters of the technology.
CRYPTOCURRENCY MARKET
• The recent exponential rise in the cryptocurrency market is expected to increase the market to $10 trillion in the next 15 years.
• The increase in demand for Blockchain technology, as well as increase in investor demand for cryptocurrency is driving the sudden and ongoing market cap increase.
• Mainstream adoption of cryptocurrency is lagging, largely due to complexity of purchasing.
ECOSYSTEM PARTICIPANTS
The ecosystem will be built in accordance with a scalable and decentralized approach that ensures stability and sustainability in the long term.
The ecosystem will involve the following participants, which will participate as depicted in the next diagram:
• Platform
• Retailers
• Consumers
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.
Digitize will manage the:
• Digitize token creation and the token launch to fund development and expansion;
• Establishment of a decentralized, fair and secure model for token execution;
• Development of smart contracts to run the order payment and fulfillment process;
• Release of the website and mobile app for retailers and consumers;
• Creation of an effective incentive model for all parties to join the Digitize ecosystem;
• Development of an active marketing campaigns to ignite initial traction;
• Elaboration of the ecosystem’s regulatory aspects.
Learn more about Digitze project:
Website: https://digitizecoin.com/
Whitepaper: https://digitize-whitepaper.pdf
Bountyhive Link: http://bountyhive.io/r/ShanikaMadu