Connect Coin: Market and Commercial Applications

Place/Date: KINONDONI, DARESSALAAM, TANZANIA - February 18th, 2019 at 7:09 am UTC · 4 min read
Contact: Connect Coin, Source: Connect Coin

Cryptocurrency International Tanzania limited (CITL) is planning to utilize blockchain technology and cryptocurrencies to create a new payment system. CITL has plans to utilize the market volatility of cryptocurrencies and fiat currencies in the global financial markets to create a decentralized cryptocurrency named Connect Coin (XCON).

Connect Coin

Connect Coin is designed to facilitate the money transfer and global payment system. XCON will also provide the investment opportunities to small and medium-sized investors. CITL is looking forward to facilitating a smooth running of cryptocurrency trading to create Connect Coin and to make it a utility coin which can be used as a mean of payment not only on the CITL platforms but also on various other platforms. People from all over the world will be able to transfer money, pay utility bills, buy movie tickets, pay restaurants bills, pay at health centers, and purchase various kinds of things online or offline with the help of Connect Coin.

CITL is looking forward to becoming the first and best e-commerce platform where online businesses and consumers will be able to directly purchase from the manufacturers. The next-gen e-commerce platform powered by CITL will harness the power of distributed ledger technology along with other innovations in bulk pricing, real-time logistics, e-commerce, and cryptocurrencies.

Market and Commercial Applications of Connect Coin

CITL Academy

Interest in cryptocurrencies is growing at a rapid pace. Now more and more people around the world want to stay updated and know more about digital assets that is why cryptocurrency educational resources are in great demand. An average person knows little to nothing about the emerging blockchain technology and cryptocurrencies. One of the reasons behind this lack of knowledge is that either very little material about the inner working of blockchain technology and cryptocurrencies is published or the material which is published is too technical that an average person cannot understand it. This lack of understanding is causing misconceptions about cryptocurrencies. CITL Cryptocurrency Training Academy intends to change some of these misconceptions. The academy will provide a detailed and easy to understand information about cryptocurrencies including:

  • how to pay for goods and services
  • how to transfer value
  • how to protect crypto funds
  • how to invest in cryptos
  • understanding Smart Contracts

The main objective of CITL Academy is to build a crypto literate community not only in Tanzania but also all over the world. The academy will also establish an online TV where people from any corner of the world will be able to get education about the blockchain technology, cryptocurrencies, Connect Coin, and forex trading. These programs will help the people to know more about XCON token. Eventually, the program will create more users of XCON token which will lead to an increase in its value.

CITL Exchange

CITL Exchange is going to offer a trusted platform to individuals and corporations where they will be able to buy and sell cryptocurrencies. The blockchain based security protocol of the platform makes it less vulnerable to attacks that is why CITL Exchange is a safe place to trade digital assets. The main objective behind creating this platform is to create a secure market place for crypto traders. Connect Coin (XCON) will launch in its own ecosystem to trade as the native digital token within the CITL Exchange. Immediately after the successful ICO, XCON will be deployed to trade on the CITL Exchange. The exchange is scalable and has robust security with Smart Contracts. The platform allows multi-currency deposits and withdrawals. The platform is also integrated with the Connect Markert Place.

Connect Coin Token Sale

CITL is gearing up to offer 70 Million XCON tokens. These tokens will be issued in the following manner:

  • 76% – ICO sales
  • 15% – Founder and Management Team
  • 7% – Promotion of Referral Program
  • 1% – Contingency
  • 1% – Legal costs

Moreover, the fund gathered from the token sale will be allocated in the following way:

  • 35% – Connect Marketplace
  • 30% – CITL Merchants
  • 20% – CITL Exchange
  • 15% – CITL Academy

CITL Merchant

Merchant Builder System is a unique flagship payment system which is designed to transform the payment system used by local businesses from fiat currency to crypto-based systems. The system will enable local businesses to accept cryptocurrencies as a mode of payment for their goods and services without dealing with market fluctuations associated with digital assets. The businesses which are registered with Merchant Builder System are guaranteed to dispose of their collected cryptos for fiat currencies at the crypto exchange rate at the time of the transaction was completed.

With these kinds of innovative approaches, CITL is trying to revolutionize not only the crypto industry but also the e-commerce industry. As the people will become aware of the functioning of digital assets the popularity of cryptocurrency will increase which will lead to an increased crypto adoption.

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