Connect Coin

CITL is poised to bring about efficiencies in the e-commerce ecosystem benefiting both the supply and demand sides of the equation. tWe plan to do this through the following ground-breaking innovations: Here are a few prominent issues and how Blockchain technology could benefit cryptocurrency users.

Cross-Border Payments: Having a cryptocurrency allows users to make secure cashless transactions. Cryptocurrency operates at the universal level, making transactions quite easy. It helps solve the problem of inflation as money can depreciate its value over time. It enables everyone to do business globally, travel worldwide and participate in events without having to convert into regional currencies. The peer-to-peer mechanism allows easier international trade without having complications over the exchange fluctuations. In countries like Tanzania and farther afield, XCON will provide the best payment solutions for wholesale and retail businesses, as well as utilities and services vendors. By cutting off the middleman payments can be made with infinitesimal charges almost instantaneously from buyer to seller.

Non-Bankers: It is noted, in the developing world, that only 41% of the population has a bank account. But about 89% of adults in Africa now own a cell phone. With the influx of cheaper Chinese smartphones making in-roads into Africa, most people own smartphones. This population with smartphones can make cashless payments globally with the help of Blockchain technology. CITL’s multi-currency mobile wallet allows cryptocurrency users to store crypto-tokens, exchange currencies, make purchase instantaneously and transfer money.

Double Spending or Double Booking: Blockchain technology’s strong confirmation mechanism and transaction recordings don’t allow cryptocurrency users to double book or double spend, i.e., it doesn’t allow multiple transactions for the same coin. This enables users to register tickets for events, concerts, conferences, and music festivals etc.