COTI [ Payments transaction network combining Blockchain technology...

COTI is a FinTech company that has developed a base protocol, known as the Trustchain, which aims to address technical challenges plaguing other existing cryptocurrencies and limiting their mass adoption as means of payment. It includes consumer wallets, merchant processing tools and a digital currency exchange facility.

The consumer-merchants payments industry is estimated to be a two trillion USD market however, it has been monopolised by Visa and MasterCard for the past 40 years. Nowadays, each transaction goes through 6-8 middlemen, each collecting a fee and potentially being a point of failure.

COTI’s token called C.O.T.I is in the core of the system and fuels the interactions between consumers, merchants and mediators. A base blockchain for COTI is not yet determined. All fees in the COTI network are payable in C.O.T.I and to be applied to all transactions, irrespective of the used currency. Mediator stakes and payouts are always denominated in C.O.T.I.

COTI is trying to combine the advantages of both worlds – cryptocurrency and fiat to offer the fastest, easiest, most cost-effective and most trusted way to pay. The ecosystem of COTI is based on the Trust Protocol that algorithmically scores the trustworthiness of buyers and sellers based on their behaviours over time. Each party has its personal Trust Score.

The higher the Trust Score, the less processing fee is to be paid by the party, though COTI ensures that parties with low Trust Scores have a clear path to achieving higher Trust Scores.

The protocol features a decentralized system that helps come to agreement by using crowdsourced mediators. The same way as Bitcoin miners receive Bitcoins, COTI’s mediators are rewarded with COTI’s native currency. Disputes are resolved in a fair, fast and cost-effective manner.

COTI aims to address such shortcomings by combining the best of traditional payment methods with the best of traditional currencies. COTI network users can expect low-to-zero fees, full buyer-seller protections, a robust Trust Scoring Engine and decentralised Mediation System.

COTI's team includes top management and R&D talent, veterans of the financial industry and blockchain experts. Our team includes Steven Heilbron (former CEO of Investec Bank UK), Dr. Matthew McBrady (former CIO of Blackrock), the founders of Processing.com and early investors in Twitter, Square, Coinbase, Ripple.

The first key use case that COTI has implemented on this new technology is a payments transaction network, built from the ground-up. The consumer-merchants payments industry is estimated to be a two trillion USD market, however it has been monopolized by Visa and MasterCard for the past 40 years. The decentralized and scalable payments network has been created to facilitate efficient global commerce. Developed by experts in several industries, including the former CEO of Investec bank, Steven Heilbron, COTI combines the best of traditional payments systems with the best of blockchain technology to offer a fast, easy, cost-effective and trusted way to pay.

The COTI project can add scalability to the current cryptocurrency payment system, lower commission fees, increase throughput of transactions up to 10,000 transactions per second and even higher, and effectively solve disputes via mediators.

Token Information.