Mitch Steve, RBC capital market’s analyst, stated that by utilizing a decentralized computing and open-source software such as cryptocurrency, a multi million dollar market would emerge. He also stated that cryptocurrencies as well as the blockchain technology could become a ten trillion dollar market within the next fifteen years from its seven hundred and thirty billion US dollars in 2017 which marked their highest increase. The fact that the utilisation of digital currency is on the rise and cryptocurrencies are now the new method of transactions has still not erased the notion that cryptocurrencies are only but an unnecessarily high tech means for trade in the minds of people. Digitize coin shoots to rid this thought of the people by creating a smooth and easy to use means of utilizing digital currency and at the same time converting loose change into virtual currency.
Digitize INITIAL COIN OFFERING ( ICO)
The Digitize initial coin offering would begin on the twenty-second day of April 2018 at 11:00 AM ( GMT). The token employed is called the Digitize token ( DTZ) and it is an Ethereum token based on the ERC 20 standard. The amount available for sale is 100,000,000 DTZ, and is priced at 1 DTZ = 0.0002 ETH.
THE Digitize ECOSYSTEM
The Digitize ecosystem is the primary tool through which Digitize coin aims to make cryptocurrencies more usable. It is a decentralized consumer ecosystem which fosters the transition of an already cash based society into a cryptocurrency based society, and it is the first of its kind. Digitize coin has set up this ecosystem in order to achieve an avenue where seamless digital currency transactions can take place. Through this platform, consumers can convert their loose change and also exchange them for Ethereum and the Crypto index, enabling them to invest in cryptocurrency. The merchants ( companies or individual retailers) also get a rewards platform on which they can give out feedback rewards or offer discounts using Digitize tokens.
THE TECHNOLOGY BEHIND Digitize COIN
Digitize makes use of the blockchain technology, which is a decentralized form of technology that updates digital ledgers to avoid any form of hack. All the digital ledgers are linked to one another, this way hacking would be impossible because all the ledgers can not be manipulated at the same time.
The Digitize blockchain is applied in three aspects;
- Smart contracts : which are basically self – executed terms of agreement between the merchants and the consumers directly written into lines of codes. This allows for trusted and fast trading among people without the need to involve any form of external enforcements.
- Payments : This is highly beneficial for the consumers since the Digitize blockchain technology creates an avenue through which consumers can save loose change directly at the point of purchase while simultaneously making payments with their digital wallets. The merchants also gain from the consumer’s instant payments as they are entitled to a percentage of 2% during each consumer’s deposit of loose change into their digital wallet.
- Exchange platform : The Digitize exchange platform is a decentralized form of trading where the merchants and consumers carry out their trade. Merchants join Digitize using this platform, they can also sell Digitize tokens to consumers and receive feedback from consumers.The consumers are enabled to purchase tokens and participate in rewards programs through this platform.
From all indications, Digitize coin is set to achieve a very important feat, and that is to make cryptocurrencies more usable. With the application of the Digitize blockchain technology, which serves to benefit both the retailer and the consumer, rewarding both parties, and bringing about trusted and swift transactions among numerous anonymous people, Digitize’s aim of making cryptocurrencies more usable is already a reality.