GAW Miners Announces Plans for Initial Coin Offering of Paycoin

GAW Miners founder and CEO Josh Garza, who has built one of the world’s fastest growing bitcoin mining provider, is setting his sights on something even bigger: “the cryptocurrency of the future.”

The core technology underlying Paycoin, which was previously codenamed “Hashcoin,” is modeled on bitcoin and its public ledger, known as the blockchain. Photo: GAW Miners

The core technology underlying Paycoin, which was previously codenamed “Hashcoin,” is modeled on bitcoin and its public ledger, known as the blockchain. Photo: GAW Miners

GAW Miners, a provider of Bitcoin & Crypto Currency mining products, has recently announced its Initial Coin Offering (ICO) with the introduction of Paycoin, a new cryptocurrency released parallel to bitcoin to promote mass approval and long-term valuation stability of new digital currency.

“Cryptocurrency is a young, disruptive technology that offers easier, faster and more secure transactions between individuals and merchants than any payment technology to date,” said GAW Miners founder and CEO Josh Garza. “However all existing cryptocurrencies have failed to achieve an adoption path leading to mainstream use. This is the primary reason why we’re introducing Paycoin via this ICO.”

“Although relatively new, cryptocurrency is shifting the economic paradigm and that is reason enough for traditional financial organizations to start taking this seriously,” said co-founder and early investor, Stuart Fraser, Vice Chairman and partner, Cantor Fitzgerald, L.P.

“With the marrying of innovation, technology, finance and regulation — I believe that cryptocurrency can provide a value proposition that has never before been contemplated in global commerce and thus has the real possibility of being a viable mainstream currency accepted by the masses around the globe,” added Fitzgerald.

Being set up as the cryptocurrency of the future, Paycoin addresses all of the inherent shortcomings that have prevented Bitcoin from getting mainstream approval.

PayCoin prevails upon existing digital currency by producing a decentralized network structured to facilitate price stability, fast transaction sessions, and valuable features for achieving widespread customers and merchant approval.

Furthermore, by exploiting a Hybrid-Flex Blockchain and Transaction Immutability coupled with the latest in cryptography and economic theory, GAW Miners is producing a digital currency fit for global audience. Paycoin will be available to the public starting from January 2, 2015.

“Because Paycoin carries with it the best features of bitcoin while making corrections where necessary to produce a coin network fit for global acceptance,” Garza continued.

“To be honest, changing the world economy from fiat to cryptocurrency requires enormous effort. A decentralized currency leaves behind no parties with a financial incentive to do the work needed in order to promote global adoption. Until now that is. Paycoin’s ICO fills in the missing piece by supporting continual adoption efforts allowing us to be the first to both legitimize and bring cryptocurrency to the mass market,” concluded Garza.

Share This article

We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Coinspeaker Ltd.