Cryptocurrency International Tanzania limited (CITL) one of the first companies in the United Republic of Tanzania to offer products in the fintech sector has plans to transform the global payment system with crypto currencies and blockchain technology. The company has created a decentralized crypto currency “Connect Coin (XCON)” to facilitate global payments and money transfer. The Connect Coin will offer its services on the CITL exchange platform, CITL merchant platform, CITL training academy, connect marketplace platform, and connect card. The coin will also provide investment opportunities to the small and medium-sized investors. CITL has plans to make Connect Coin a utility coin which can be used as a mean of payment on various other platforms. People around the world will be able to purchase various things with the help of Connect Coin and will be able to use it on different outlets including ticket booths, movie theatres, health centres, restaurants, hotels, religious offerings, etc.
Know more about Connect Coin
XCON is an Ethereum-based crypto currency which is designed to connect people from every corner of the world by simplified ways of money transfer and cross border payment. The main aim of Connect Coin is to connect buyers and sellers through Connect Global Marketplace. On the marketplace, people will be able to buy goods and services with XCON. Consumers will be able to pay and transfer through the Connect App and Connect Cards to both local vendors and online businesses. The platform will also protect the businesses from losses associated with crypto currency price fluctuations. Connect Coin also facilitates withdrawals and deposits in fiat currencies.
The purpose of Connect Coin
- The coin will be used to raise funds to build and enable CITL Academy, CITL Exchange, Connect Marketplace, and Merchant Builder Platform.
- Used for staking tokens for Micro-distribution centres to participate.
- The Connect Coin can also be used as a reward when a user recommends XCON to another service; the former will receive a reward in form of tokens.
- As a form of payment to Micro-distribution centres and delivery operators for providing a service
- As a form of dividend payment to investors Consensus Algorithm
Allocation of Connect Coin
CITL has created 70 million connect coins which are allocated as follows:
- 53,200,000 tokens or 76% to the ICO Sale
7,980,000 tokens or 15% to the private sale, 13,360,000 tokens or 25% to Pre-ICO Sale, 15,960,000 tokens or 30% to the ICO Stage-I, and 15,960,000 tokens or 30% to the ICO Stage-II. If any token remain unsold at the ICO sale end date will be burned.
- 4,900,000 or 7% tokens have been kept reserved for the referral program. The program is designed to boost the adoption of Connect Coin via reward points and other incentives.
- 10,500,000 or 15% of tokens have been allocated to the founding members and management team.
- 700,000 or 1% of the tokens are kept reserve for the contingencies.
- 700,000 or 1% of the tokens have been allocated to legal costs.
Allocation of Funds
CITL has planned the allocation of funds in following way:
• 35% - Connect Market Place
• 30% - CITL Merchants
• 20% - CITL Exchange
• 15% - CITL Academy
As online money transfer and e-commerce have become an essential aspect of modern life. The e-commerce marketplace developed by CITL will bring the buyers and sellers in an efficient ecosystem via Connect Coin. The platform is trying to leverage blockchain technology to address the existing issues associated with fiat currency exchange. CITL is aiming to offer reliable, transparent, secure, and efficient solutions to users all over the world.
Buy XCON on http://connectpay.io/
Telegram: https://t.me/CONNECTCOIN
Twitter: https://twitter.com/connectingcoin
YouTube: https://www.youtube.com/channel/UCpOMai74r0oMTwHKFzXHdTw
Media Contact
Company Name: Connect Coin
Contact Person: GEORGE LUCAS
Email:Send Email
Phone: +255765333325
Country: Tanzania
Website: https://connectingcoin.io/
