Today’s market is flooded with cryptocurrencies, thanks to the ease of creating them and the rise in the number of ICOs organized by projects, both big and small. However, not all of these new tokens solve the issues revolving around the use of digital currencies for everyday transactions. And then, there is always the issue of volatility which is hindering its widespread adoption.
NetCents Technology Inc., a next-generation payment processor supporting both fiat and cryptocurrency payments has decided to take it upon itself to solve these issues. In order to do so, the platform has created a new coin that overcomes various shortcomings exhibited by the existing cryptocurrencies.
The NetCents Coin allows consumers to make fast and secure transactions that are independent of any one singular authority or trusted third party, making it a truly decentralized alternative. Earlier this month, NetCents Technology Inc. issued a whitepaper unfolding the NetCents Coin which it will be releasing November 30th. Download the whitepaper here.
The NetCents Coin is constructed on the following pillars:
- Widely held and circulated
- Backed by a Treasury Reserve Account
- Operating under a structured coin release to prevent price speculation
- Highly secure and private
- Counterfeiting prevention and fraud risk detection structured with next generation algorithms
- A global coin, with initial releases in Canada and the UK
The NetCents Coin will be distributed through a non-profit partner organization, domiciled in Switzerland; the NetCents Coin Foundation (NCCF). The introduction and eventual mass-adoption of the aforementioned coin will assist NetCents in accomplishing their mandate of revolutionizing the payment processing sector.
The release of the NetCents Coin, is structured much differently than other cryptocurrencies. Unlike existing cryptocurrencies, the NetCents Coin will be issued over time from the NCCF treasury at market rates with a transparent release mechanism. New coins will be released in tranches based on the coin’s market value. Any value received from the sale of treasury coins by NCCF will remain in NCCF’s Treasury Reserve Account, where it will support the value and fund the development and continued maintenance of the NetCents Coin.
100% of Treasury NetCents Coins proceeds in reserve account to support the coin
“The NetCents Coin is a true transaction coin and not an instrument of speculation. A coin structured to appreciate over time, in a controlled way with minimal volatility. To have real value with asset backing and scalable to absorb any amount of capital. In essence, a real global blockchain based cryptocurrency to be used by the masses for everyday transactions.” – Jean-Marc Bougie, CEO, Hillcore Group
The NetCents Coin is filling the gaps and picking up where Bitcoin failed. No more unpredictability, lack of control, or rampant speculation. We’re providing a stable cryptocurrency, one that is widely held and has affordable transaction costs.
Download the NetCents Coin whitepaper here.