Cryptocurrency International Tanzania Limited (CITL) is a private limited liability corporation nestled in the United Republic of Tanzania. It is working towards revolutionising the global payment system and money transfer by allowing individuals to make payments via a dedicated cryptocurrency. Additionally, in order to address the volatility associated with cryptocurrencies and bring stability, the globally reckoned firm has integrated blockchain technology to develop a decentralized native token referred to as Connect Coin (XCON).
Connect Coin (XCON)
Connect Coin is the primary product offering of CITL that is developed to ‘connect the world.’ It is basically a standard ERC-20 Ethereum-based coin that intends to connect buyers and sellers by enabling them to be a part of Connect Global Marketplace. Within this market, consumers can purchase from sellers and merchants across the globe and pay through Connect Coin. Users no longer have to go through the hassle of converting money into local currencies in order to participate in trading activities. The platform also facilitates consumers with Connect App as well as Connect Cards that offer easy payment and exchange.
Essential Features of Connect Coin
Following are the fundamental features associated with Connect Coin:-
● Purchasing Power: It offers consumers ‘Direct to Consumer’ pricing through peer-to-peer networks.
● Borderless Money Transfer: XCON facilitates easy and fast transfer of fund at lower costs.
● Storefront Creation: Connect Coin extends a global e-commerce market that allows e-tailers to enter seamlessly into the decentralized ecosystem.
●Micro-Distribution: It offers micro-distribution channels powered by decentralized networks and distribution ledgers (Blockchain).
● Round the Clock Accessibility: It facilitates the transfer or exchange of money by using XCON from anywhere, at any time of the day.
Purpose of Connect Coin
XCON token is integrated to accomplish the following purposes:-
● Raising funds to develop and enable CITL Academy, Connect Marketplace, Merchant Builder Program, and CITL Exchange
● Staking tokens for the participation of micro-distribution centres
● Staking tokens for the participation of delivery operators
● Rewarding users who recommend XCON
How Does Connect Coin Operate?
● Through Connect Coin, holders can obtain goods and pay for services on any global platform that accepts Connect Coin. Some of the platforms where XCON can be used include Connect Marketplace, Amazon, eBay, Alibaba, etc.
● The coin holders can buy goods and services directly from the merchants as well, via Connect Coins. By teaming up with global merchants the platform aims to enhance the Connect Coin acceptability to over 95%
● Holders can exchange Connect Coins directly to fiat money or any other cryptocurrencies like BTCH, ETH, etc.
Connect App allows users to store, send, and receive Connect Coin from one user to another in real-time. The app also enables users to pay for goods and services to merchants worldwide 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
● Easy and efficient way to pay for goods and services
Connect Marketplace is a next-gen decentralized e-commerce network that has integrated distributed ledger technology. It is an extensive global marketplace wherein verified service providers and consumers can seamlessly connect with each other and transact safely through a single payment system.
Consensus Algorithm- Ensuring Reliability
When packages are delivered to buyers, users can confirm the delivery of the same through their signatures on the Connect Mobile App. This will ensure that the right package is delivered to the right buyer.
Connect Coin – Facilitating Transactions across the Globe via Single Coin
CITL has developed an e-commerce marketplace that brings buyers and sellers together and allows them to execute transactions efficiently via Connect Coin. Furthermore, by integrating blockchain technology, the platform has addressed the existing concerns associated with fiat currency exchange such as lack of security, double booking, volatility, etc., and offered consumers reliable, secure, transparent, and an efficient mode of payment.
Learn More about connect coin on https://connectingcoin.io/
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