CURRENCY OF THE INTERNET- COTI

Maxwell Bruno
5 min readApr 28, 2018

Introduction

The blockchain revolution keeps getting bigger and huge each second, minute, hour and day.It never stops growing and expanding. Just when you think you have seen enough of amazing blockchain projects, another great one appears.

I am beginning to think this is just the beginning of a very massive revolution.

There are lots and lots of blockchain projects still surfacing.

From new Etherium network projects, NEO projects, Steem Smart Media Tokens projects to other totally new blockchain networks, things in the blockchain universe seem to be getting more and more interesting.

Normally, when doing my research on blockchain projects, i always have more than 20 tabs each with a different blockchain project opened on my computer.

Perhaps i exaggerated. Twenty tabs seem to be a lot of tab. But i sure open a number of tabs. Let us approximate it to more than 10 tabs.

I do a rough reading about the project as i watch the introductory videos of the projects one after the other. As i read roughly and watch the videos, i eliminate the ones that i think are not that useful/important to me and bookmark the projects that i think are huge and promising.
By huge and promising i mean a project that actually brings something very new, unique and different on the blockchain table.

COTI

Well , doing my normal cryptocurrency and initial coin offering research, i happened to come across COTI.
COTI is an abreviation which when written in full is Currency Of The Internet .
It wasn’t actually my first time to bump into this awesome blockchain project. I had already seen a number of posts and advertisements about COTI on different social media platforms.

What is COTI

COTI is a digital ecosystem and a digital currency that is built for payments. It is basically the fastest, easiest, most cost-effective and reliable way to pay.
The COTI payment network is designed to take over where traditional payment systems left off, namely with instantaneous transfers, low-to-zero fees and cost effective buyer-seller protections.
This will be amajor advantage for consumers and merchants alike as compared to traditional banking, credit cards and P2P platforms as stated by COTI.

COTI’s tech and ecosystem

I am no technical geek or nerd when it comes to the blockchain technology(atleast not yet) but according to what i read on the COTI website, the COTI ecosystem is designed using innovative distributed ledger technology with the goal of providing a superior payment solution that outpaces current legacy card networks and cryptocurrency technologies. The COTI base protocol, native currency, Mediation System and Trust Scoring Engine have been conceptualized to produce a comprehensive payment solution for merchants and consumers that is both decentralised and scalable.

COTI’s Vision

The main vision that COTI has is to build a decentralized and scalable payment network to facilitate efficient global commerce.
According to COTI, this will set the standard for a next generation payment solution that is trust-driven, instant, cost-effective and supportive of a multi-currency wallet.
By reconciling cutting edge distributed ledger technologies with the best of traditional payment solutions, COTI will spearhead the mass adoption of digital currencies in the mobile era.

COTI token sale

The Currency Of The Internet network is powered by digital tokens known as COTI tokens.
During the COTI token sale, COTI tokens will be available for purchase using

  • Card
  • Bank wire
  • Bitcoin
  • Ethereum

COTI tokens purchased will be delivered to the token buyers at the end of the token sale.
On the main date of the commencement of the COTI Initial Coin Offering or whether the token sale is already live, the following is what i was able to find on the COTI website:

The token sale starts soon

Tokens are currently being sold to a small group of strategic advisors. This phase of the sale is nearly complete. When this phase ends, COTI will release details of the next phase — the first opportunity for members of the public to obtain COTI tokens.

That is all i know about the COTI token sale for now.

Who should join COTI ?

Currency Of The Internet is mainly meant for three types of individuals namely :

  • Merchants
  • Mediators
  • Consumers

Merchants

COTI has developed a suite of merchant tools and services that will make COTI a compelling proposition for merchants. Merchants that use COTI’s services will be able to enjoy a better bottom line as they’ll be equipped to process more transactions and pay less fees.

Mediators

To be able to provide buyers and sellers with protections against errors, fraud and counterparty abuse, COTI’s Mediation System will help resolve disputes within the COTI network.
You can currently sign up to become a COTI mediator on the official COTI website.
As a COTI mediator you will be paid in COTI tokens for successfully resolving buyer-seller disputes.
In the event of effectively contributing to a mediated outcome, COTI mediators will also be incentivised with higher Trust Scores.

To be approved as a COTI mediator, you must:

  • Be at least 18 years of age
  • Have a clean criminal background with no previous convictions
  • Consent to the COTI privacy policy
  • Submit identity verification documents
  • Undergo an online assessment to determine that you have the aptitude to perform the mediation tasks at a high standard.
  • Be a member of the COTI network (e.g., COTI wallet holder or COTI token holder)
  • Demonstrate basic English language proficiency.

I personally applied to become a mediator at COTI and i’m only waiting to be approved.
If you are interested, you can also head over to the COTI website and sign up to become a COTI mediator.

Consumers

COTI is the fastest and most user-friendly network built for payments. COTI will enable consumers to transact globally using a secure, instant, low-to-zero fee system backed by a robust Trust Scoring Engine and decentralized buyer-seller protections!
If you sign up on COTI today as a Consumer you will reserve your COTI wallet and receive 100 COTI COINS for FREE.

Conclusion

From my own personal research on the COTI project , Currency Of The Internet is a promising blockchain project. I was personally impressed by what this blockchain company is bringing on the table. COTI also has a great solid team of developers and advisors with a good knowledge of the blockchain technology and e-commerce.
There are lots of businesses currently being established on the internet. Both consumers and merchant need a payment solution that is fast, convenient, reliable secure, easy to use and applies low-zero fees during transactions.
A payment system that can be used anywhere across the globe.

In this era of smart technology combined with blockchain technology, Currency Of The Internet (COTI) is certainly the right answer.

Images are screengrabs from the official COTI website.

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Maxwell Bruno

CryptoArtist and CryptoMusician from Nairobi, Kenya releasing content on the blockchain for over 4 years.