Place/Date: Sydney, Australia - March 9th, 2018 at 7:46 am UTC · 4 min read
Contact: Umer Aslam, Source: Digitize
Australian-based fintech startup Digitize Coin offers its users a way to collect their loose change from purchases, convert them to digital currency at the point of transaction and spend as they please. The loose change is tokenized into Digitize currency, allowing it to be used for payments, loyalty programs and even exchanged for Ethereum. Digitize is currently preparing for its token presale, which begins on April 6th, 2018 to raise funds to go towards the development of the platform.
Have you ever wished you could do away with loose change entirely? Well, soon that will be a reality, with Digitize Coins new blockchain-based system. Their new service will give users the freedom to swap their physical change for digital currency at the point of transaction, and put it straight into a digital wallet. The change can be collected in the wallet, converted into various different currencies and then spent on future payments.
Digitize Coin aims to bridge the gap between blockchain technology and the everyday consumer. Most consumers today don’t really understand the potential applications for blockchain technology and Digitize aims to use that technology in a way that is easily accessible for every-day use while solving a real-world problem.
To make use of the Digitize platform applicants must simply download the Digitize app, register and complete a KYC (Know Your Customer) application. After the user has been approved they are then eligible to deposit cash in either the form of loose change or make a direct purchase through their digital wallet. Transactions would occur at retail locations registered with Digitize through a cost-efficient and secure mobile app.
Umer Aslam, Founder, and CEO of Digitize Coin describes the solution that the service will provide the public, stating:
“The majority of the public still views cryptocurrencies as a nightmare to purchase – especially given the technicalities involved. Digitize will make this process as simple and seamless as using cash through registered retailers. Further, with the recent bans of credit card and debit payments worldwide, there is an even greater need for a cash-based purchase platform.”
Consumers will benefit from low transaction fees and retailers will create an additional revenue stream. Digitize token holders can also safely convert their tokens for other cryptocurrencies like Ethereum, withdraw for FIAT or invest in a crypto related index fund.
In addition to their main application Digitize Coin will facilitate up to $5,000 OTC transactions.This means that Digitize users will be able to make single purchases of up to $5,000, a unique service that is not being offered by any other multi-currency exchange service.
A large group of some of the biggest world banks recently halted cryptocurrency related credit card transactions, which leaves open a space for a seamless platform to exchange physical currencies for cryptocurrencies. In a world that is becoming more restrictive, Digitize Coin will offer a way for the everyday consumer to get around the problem of loose change and at the same time use cryptocurrency for everyday transactions.
The Digitize platform is still in it’s development phase but the core team expect to have a release date for the Alpha version in the very near future, and are currently working very hard to assure that the finished product is as refined and efficient as their vision portrays.
Digitize coin pre-ICO begins on April 6th, 2018 and will run until April 13th, 2018. Investors can purchase the ERC20 Digitize (DTZ) using ETH. Initial value, 1 DTZ = 0.0002 ETH. Investors in the pre-sale will realize a 25% discount.
The total supply will be 200,000,000 DTZ. The maximum pre-sale cap is set at 10% of the total supply. The pre-sale soft cap is 600 ETH.
Digitize coin is a recent fintech startup utilising the Ethereum blockchain. It was founded in November 2017 by Umer Aslam who previously spent his career at IBM and Westpac, one of Australia’s “BIG four” banks. Their growing team consists of former employees, also from IBM, Sony, Expedia, IRESS, AMP and the Commonwealth Bank of Australia, one of the “BIG four” as well. Digitize has an office in Sydney, Australia and is currently in the process of setting up an office in Singapore, which will be their direct link in the South Asian markets.