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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).
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.
Connect Coin addresses the aforementioned challenges of fiat currency exchange and offers the following solutions:-
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.
CITL offer multi-currency wallet that enables cryptocurrency users to store crypto-tokens, exchange cryptocurrencies, and make real-time fund transfer.
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.
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.
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:-
CITL is offering 70 Million XCON tokens. These tokens will be distributed in the following manner:-
Following the token sales, the fund collected will be allocated in the following way:-
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/
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.
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