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Online money transfer technologies have facilitated individuals with fast and efficient transfer of payments across the world. Additionally, users today purchase goods and services from e-commerce websites and pay for transactions online in just a matter of a few clicks. However, even after the convenience of online money transfer, people still restrain to leverage this technology due to the critical concerns associated with it. Some of the challenges that keep people from adopting to online money payment transfer methods include data tampering, identity theft, centralized control, double spending, etc.
Cryptocurrency International Tanzania Limited (CITL) is working towards bringing efficiency in the e-commerce industry by making fund transfer easier, safer, and more reliable to global users. The company plans to accomplish this objective via extending their product, Connect Coin (XCON).
Connect Coin (XCON)
XCON is a standard ERC-20 Ethereum-based coin developed with a vision to ‘connect the world’ by streamlining the existing means of fund payments and transfers across the globe. The coin intends to empower merchants by offering an easy and secure payment system that is based on the blockchain technology and denoted as Connect Pay. Connect Coin plans to bring buyers and sellers to its Connect marketplace, where it enables them to perform various online buying and selling activities through a single currency.
Providing Solutions to Existing Setbacks
Connect Coin addresses the aforementioned challenges of fiat currency exchange and offers the following solutions:-
- Cost-Effective Transfer:
By leveraging blockchain technology, Connect Coin has eliminated the need of middlemen. Therefore, with Connect Coin, users will be able to transfer funds instantly without having to pay high transaction fees.
- Multi-Currency Mobile Wallet:
CITL offer multi-currency wallet that enables cryptocurrency users to store crypto-tokens, exchange cryptocurrencies, and make real-time fund transfer.
- Transaction Transparency
Blockchain’s confirmation mechanism along with transaction recording does not allow users to double book or double spend, thereby ensuring transparency in the transaction process.
- Data Security
Within blockchain, transaction order is executed by grouping it into blocks and linking those blocks into a chain. This eliminates the chances of data tampering in the process and ensures optimum security.
How Does Connect Coin Functions?
- Through Connect Coin, holders can purchase goods and pay for services on any global platform, where Connect Coin is accepted like Connect Marketplace, Amazon, eBay, Alibaba, etc.
- The coin holders can buy goods and services directly from the merchants as well, via Connect Coins. By partnering with global merchants the platform aims to increase the Connect Coin acceptability to over 95%
- Holders can exchange Connect Coins directly to fiat money or any other cryptocurrencies through connect app.
Connect app enables users to store, send, and receive Connect Coin from one user to another in real-time. The app also allows users to pay for goods and services to merchants who accept Connect Coins. Through this app users will be able to:-
- Securely store their coins
- Obtain flexible and easy way to use their collected coins
- Enjoy low fee transaction
- Easily pay for goods and services
CITL is offering 70 Million XCON tokens. These tokens will be distributed in the following manner:-
- 76% – ICO sales
- 15% Founder and Management Team
- 7% Promotion of Referral Program
- 1%- Contingency
- 1%- Legal costs
Following the token sales, the fund collected will be allocated in the following way:-
- 35% – Connect Market Place
- 30%- CITL Merchants
- 20%- CITL Exchange
- 15%- CITL Academy
Connect Coin – Making Online Money Transfer Simple and Secure
E-commerce and online money transfers have become a common aspect of modern day life. CITL has developed an e-commerce marketplace that brings buyers and sellers in an extensive ecosystem to facilitate efficient transactions via Connect Coin. By leveraging blockchain technology, the platform has addressed the existing concerns associated with fiat currency exchange and offered users across the world reliable, secure, transparent, and efficient solutions to the same.
Learn More about connect coin on https://connectingcoin.io/
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