Here is the top Cardano DeFi and CeFi Platform with ultimate payment solution, says Ben Armstrong
In a recent video, the widely-followed crypto KOL Ben Armstrong from Bitboy Crypto shares with his 1.1 million subscribers one of the best Cardano projects to invest now.
“Cardano is getting ready for an absolute ecosystem explosion, with more and more Dapps pledging to build on the Cardano blockchain each day. Today, we are going to discuss a payment solution project that will be instrumental in Cardano’s DeFi”.
Currency Of The Internet (COTI)
COTI markets itself as the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions as well as digitize any currency to save time as well as money.
“Combining distributed ledger technologies with traditional payment solutions, COTI aspires to set a next-generation decentralized payment solution that is trust-driven, instant, and cost-effective”.
According to the trader, COTI sets itself apart from other payments solutions, by providing a thorough solution that consists of an innovative trust mechanism, a decentralized mediation system, a multi-currency wallet (Fiat and Crypto), and native currency exchange.
The driver of the COTI ecosystem will be the COTI coin, a native digital currency. COTI’s native currency will drive the networks and fuels the interactions between consumers, merchants, mediators, and node operators. The currency will serve the following functions: Medium of exchange, Mediation, Merchant rolling reserve, Incentives for Node Operators, and Fees.
COTI Debit cards
COTI offers users access to debit cards that link directly to COTI wallets. The rationale for offering these cards is that they will enable users to effect payments from their COTI wallets when dealing with merchants that have not yet integrated with COTI.
“COTI users will be able to specify their preferred currency each time they create a virtual debit card. When a purchase is made using a card linked to a currency that does not match the payment currency, COTI’s exchange will automatically convert the required amount of the card linked currency to the purchase currency”, he explains.
At the end of the video, Armstrong points out the potential of COTI and its future targets:
“The project’s targeted market is the online payment industry. A huge and growing market. We believe that the advantages of the future COTI payment network are beneficial enough for it to successfully penetrate as a legitimate payment service provider and therefore, to capture a sizeable market share”.
Moreover, he also points out that COTI addresses tangible market needs that neither of the current payment systems has addressed, and thus, despite the intense competition, the project potential seems high.
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