About a decade now, a new form of digital currency was created called cryptocurrency. There is no doubt that the word cryptocurrency elicits a very strong response these days, but it has not yet gotten a mainstream adoption. Despite this, other advances in technology seem to be accepted and used in the mainstream much faster. What is holding people back from using cryptocurrencies? Come to think about it, money was bound to evolve at some point as well. I’m not talking about credit cards and other new forms. There has been a lot of upgrades, from card to chips technology and will probably evolve again soon to NFC, or any near-field communication. The money I am talking about is paper money, and for cryptocurrencies to attain a massive adoption, they have to exhibit similar qualities or be available to perform same task.
But what could be the main reason holding people back from using cryptocurrencies, could it be? well I sat down and figured out some of the difficulties people find in using digital currencies. People generally fear the knowledge behind it, it doesn't make sense to some people, so they feel reluctant to learn about it. Cryptocurrency can’t be held in your hand, they only exist in computers where transactions and monetary exchanges are completed. The United States government government has not yet accepted cryptocurrencies as a legal tender, and a lot of countries do not agree to the use of digital currencies, so law abiding people tend to run from it. Financial and technical fear where people are afraid of the bubble, as it pulls back in price people say its a bubble. These cryptocurrencies can also be lost, stolen, hacked or fraudulently fooled just like cases of initial coin offerings.
Spotcoin is here to solve most of this problems and difficulties, by developing a complete digital asset management mechanism. One intuitive interface based on blockchain technology that will provide access to digital asset markets, over-the-counter trading (OTC), mining and payments.
What is Spotcoin.
Spotcoin is an economic platform designed to bridge the gap between legacy financial markets and emerging digital asset ecosystems. Spotcoin adds trust to the fragmented landscape of new digital assets by quickly and transparently handling complex transactions while matching orders and removing market inefficiencies. Spotcoin enables the liquidity and direct access of digital currencies available for everyone. The innovative interface aims to provide access to digital asset markets, over-the-counter trading (OTC), mining and payments. Spotpay allows for fast, cheap, convenient retail transactions using digital assets. The Spotcoin toolkit is designed from the ground up to integrate with the entire digital asset ecosystem, simplifying the total user experience.
The project started as an over-the-counter clearing house in Tbilisi, Georgia that provides ease of movement between fiat and cryptocurrencies. With rapid growth, it has expanded into a multifaceted powerhouse engaged in mining operations and education. With the funding from it's upcoming ICO, the project plans to build an automated digital currency exchange in Georgia that gives everyone in the Black Sea region access to the smart economy.
Unlike other project built on either Bitcoin or Ethereum, Spotcoin is built on the Neo blockchain. NEO is an open source and non-profit blockchain token platform, supported by the community that aims to create a distributed "Smart Economy" network. NEO is ideal for providing the platform that best supports Spotcoin's vision for the future. NEO has been specifically designed to meet the legal and regulatory requirements for fungible and non-expendable digital resources. NEO also incorporates digital identities that make your network and any token created on it, ideal for meeting your client's (KYC) and anti-money laundering (AML) requirements.
Spotcoin is building a very strong working relationship with regional governments, positioning the company to launch its Blockchain Institute. The Black Sea Blockchain Institute will offer blockchain training, research, and an accelerator to advance entrepreneurship in distributed ledger technologies which will educate the world about cryptocurrencies.
The Spotcoin Ecosystem & Components
The OTC Marketplace
Spotcoin’s OTC marketplace has been in existence since November 2016, established to provide digital to fiat currency trading services for clients globally. Estimates show that the global OTC marketplace for digital asset trading is worth greater than $20B per year. Spotcoin intends to become a market leader for trusted OTC trades in all major digital currencies. Spotcoin is developing an automated marketplace and will obtain all necessary licenses to increase our global trading capabilities.
Spotcoin Exchange
The Spotcoin digital asset exchange will have a very user friendly interface providing global and regional fiat currency trading pairs with four core digital currencies: GAS, BTC, ETH and SIB. Spotcore, which serves as the general order matching engine, will provide centralized liquidity between digital asset exchange, mining operation, over-the-counter marketplace (OTC), and the Spotpay payment system.
Mining
Spotcoin has a solid partnership agreement with the Georgian Mining Company, a facility that is well designed and initiated an environmentally friendly $3.25M facility utilizing hydroelectric power scalable up to 25MW. This facility will house 2,250 GPU miners with the capacity of hosting up to 9,000 additional units mainly for Spotcoin clients.
Spotpay
Spotcoin’s innovative Spotpay payment system is a key aspect of our “simple liquidity” ethos. Spotpay will provide a secure payment widget, an API and app-based digital wallets that will provide consumers with fast, low-cost, and secure point of sale transactions. Spotpay will integrate with Spotcore to provide instantaneous payouts in the merchant’s desired currency with transactions occurring at the current market price. Spotcoin intends to capture $1M per month of the estimated $100M existing retail digital currency marketplace by Q4 2020.
Black Sea Blockchain Institute
To help the region keep pace with the disruptive impacts of distributed ledger technologies, Spotcoin is establishing the Black Sea Blockchain Institute to fulfill three key functions – Education, Research and Innovation. The institute and accelerator will advance and incorporate blockchain technology use cases covering digitizing assets, smart contracts, and digital identities. Projects will be selected by the blockchain community and accelerated through institute funding, directly addressing problems within the Black Sea Region
Spotcoin ICO Details and Token Allocation
Token Symbol: 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
Payment Means/Currency Accepted: GAS / NEO / BTC / ETH / SIB USD / EUR VISA / MASTERCARD
Private Sale: April 10, 2018 - June 1, 2018
Pre-ICO Sale: May 1, 2018 - May 7, 2018
Token use: Dividend Token
All unsold token will be burn
Roadmap
Spotcoin Team
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Written by telegram user @xpency
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