WHAT ARE THE KEY BENEFITS OF CAFECOIN’S STRUCTURE?
One of the main reasons why the public should consider using CafeCoin as a suitable alternative for fiat money in retail transactions is the multitude of advantages The Foundation has implemented. At its very core, CafeCoin is a cryptocurrency made for the ease and benefit of consumers and merchants. The structure of the coin’s processes and protocols were made with that in mind, and aside from the key benefits users will be getting while making use of the coin during transactions, it also has the inherent benefits that most, if not all, cryptocurrencies carry.
Make no mistake though, not all ICO’s are as geared towards its users like CafeCoin. One reason why some ICOs failed in the past was because they did not offer anything new compared to other cryptocurrencies. They basically were a remake of the more successful cryptos like Ethereum and Bitcoin. Although those two cryptocurrencies are currently the highest grossing coins in the market, simply following in their footsteps will not generate the same buzz they did when they first released their coin. CafeCoin ensured they had a goal, which is to make it easier for the average person to make use of cryptocurrency, even if they did not possess any in-depth knowledge of how the system really works.
KEY BENEFITS OF CAFECOIN’S BLOCKCHAIN ARCHITECTURE
The Foundation, while still making use of the same Proof of Work system that Ethereum has leveraged, implements certain policies and protocols in their blockchain that make it inherently unique. They spent a lot of time and resources to ensure the quality of their cryptocoin, and they used the right systems and mechanisms to have CafeCoin be a long-term utility token users would benefit from.
- Decentralized Control
As with other cryptocurrencies, CafeCoin has no singular authority that validates its transactions and ensures the proper protocols are followed. It makes use of a decentralized ledger, which means all transactions are validated by the users themselves. Any transaction that happens needs to be validated by all the users in the system, and this is done by making use of the blockchain, where all transactions that have ever been done on that network is recorded. This feature also gives those with no access to traditional centralized financial institutions the ability to engage in mobile payments.
- Near Real-Time Transactions
One of the factors The Foundation has identified as to why cryptocurrencies have yet to reach wide-scale adoption is the fact that sometimes transactions conducted on the network can take quite a long time. CafeCoin ensures transactions done on its network is settled almost instantaneously (at the most a few seconds). This is because of the processes of CafeCoin’s blockchain, and the technology that goes into its development. For more details, take a look at The CafeCoin Foundation’s whitepaper, which can be found on their website.
- Flexible Trust
Because of the many levels of permission-based data sharing, users are able to choose who to share their information with. They also have the option to choose who they transact with, which gives users complete control over their data. For example, if a certain merchant is offering incentives and promotions if a consumer was willing to share previous transaction data, then the consumer has the option to engage or not.
- Flexible Yet Robust Security
Due to the cryptographic methods that were used in CafeCoin, as well as the number of digital signatures that will be designed to incredibly boost the security of the system, The Foundation expects CafeCoin to virtually eliminate the possibility of malicious entities gleaning information from the system. All cryptocurrencies already carry inherent security strength, and CafeCoin fortifies this with additional measures and protocols.
- Reduced Transactional Costs
Once the CafeCoin blockchain is finished building, the possible costs of transactions for users is expected to dramatically decrease. This will give merchants and consumers a strong incentive to make use of the intuitive CafeCoin mobile application during transactions. The app will also provide a more stable and private alternative to traditional payment processing methods.
CAFECOIN CONSUMER BENEFITS
Due to the decentralized structure of CafeCoin, not allowing third-party payment processes to intermediate in transactions, and the direct exchanges of information with merchants, it gives these benefits to the consumers:
- Immediate Savings
The Foundation anticipates that the products and services that are sold through its transactions will get a substantial discount with participating merchants. The discounts that are given are to be particularly high among strategic CafeCoin retail partners that are in the café industry. Though there is no set percentage or amount that is to be deducted from the original price, users will surely benefit from these when CafeCoin launches.
- Security and Privacy
When consumers transact with merchants, they will utilize the privacy of their own mobile phones and devices; these will not share any of their personal information, unlike debit and credit cards. No information will be shared to unknown vendors, which also eliminates a tradition source of identity theft. This has long been a worry for users of traditional means of alternative payment, and using CafeCoin will make users feel safer when utilizing mobile payment.
- Strong Transactional Ecosystem
Due to the rules and processes The Foundation has implemented in its transactional ecosystem, it is expected that this will drive liquidity and value creation. Consumers contribute and benefit from this by making use of CafeCoin’s substantial savings, and simply participating in the usage of CafeCoin already enhances liquidity.
CAFECOIN MERCHANTS BENEFITS
The Foundation’s implemented business model gives merchants benefits in exchanging goods for CafeCoin, which include:
- No more credit card payment processing fees
When making use of CafeCoin, merchants will pay substantially less in processing costs. There might even be a possibility of it being virtually eliminated, and it’s important to note retailers in sectors with higher per-unit prices will see substantial savings when utilizing CafeCoin.
- Instant Payment Settlement
Merchants will get to enjoy near instant processing of CafeCoins, and will not be left waiting or uncertain about when they would receive the payments. This is a flaw that can be found in third-party payment processors, like banks, credit card companies, and other intermediaries.
- User Adoption Drives Expansion
Users are able to purchase or recharge CafeCoin at any participating merchant. This will enable greater adoption by traditional businesses all over the world.
CAFECOIN’S GENERAL BENEFITS
These benefits are gained by both merchant or consumers, and any other user of CafeCoin.
- Tailored Consumer Marketing at Point of Sale
Merchants are able to generate marketing messages or price discounts that will drive demand to their businesses. At the same time, consumers will receive benefits from the marketing and promotions that will cater specifically to their preferences and spending habits.
- Easily convertible into fiat money
CafeCoin will be readily available to convert to other cryptocurrencies, and even traditional fiat money. Many available coin distribution platforms are able to do this, and the current exchange rate for CafeCoin can be seen with the user interface of the CafeCoin mobile app.
- Fractional Transactions
CafeCoin users will be able to accept, give, and exchange CafeCoin at fractional units, which makes its functionality and utility even greater.