Escrow services are becoming an exciting feature especially with its newfound application on the blockchain. While our centralized financial institutions are failing in providing this feature, the innovation is once again making the difference in helping advance our business transactions.
But blockchain technology does not stop there with its capabilities, the decentralized nature of its structure enables peer-to-peer functionality that could permanently rid us of the centralized financial systems involving banks and other intermediaries. While it may seem like a far-fetched idea, here's one venture on course to achieve both these concept under one platform.
What Is ChangeYourCoin?
ChangeYourCoin is a decentralized escrow platform that seeks to give users the power over their transactions by using blockchain technology. That means ChangeYourCoin aims to provide customers to decide on the prices, payment channels, terms and conditions of each sale while using escrow service to secure their payment operations. That will be available for every transaction from the beginning until the very end.
How ChangeYourCoin Blockchain Escrow Service Works
The ChangeYourCoin platform will encompass its cryptocurrency (CYC Token) to facilitate the network's transactions, payments, and fees. The coin will go into use in the following procedure
- The customer register an account to transact
- Once with the CYC tokens, the customer can now seek to trade by publishing the cryptocurrency they would want to buy or sell, the price and terms of the transaction. Apart from the customizable settings, there are pre-set additional settings one can also use.
- For each possible crypto transaction, the Escrow service holds the user's CYC tokens till both parties fulfill the transaction conditions.
- If the transaction is successful, the decentralized service releases the crypto funds to the intended individuals.
ChangeYourCoin understand the importance of escrow services, and they hope their service could guarantee the investors the following benefits:
CYC carries a Profit Sharing Program that will evenly share out 50% of the Gross Margins to the token holders
With a decentralized structure and escrow service, ChangeYourCoin offers the ultimate combination of safety when it comes to transactions
Eliminating financial intermediaries means the transactions occur seamlessly under blockchain with the process poised to occur within minutes
Transact against a wide range of cryptocurrencies with CYC anticipating transactions on the top 20 cryptos.
CYC prides on having an easy-to-use interface, and this facilitates the much-needed ease in exchanging or selling cryptocurrencies.
The ICO sale will feature different discount plans for each round of sale to get more investors on board.
ChangeYourCoin CYC Token ICO Details
- Pre-Sale ICO- June 1, 2018, till June 15, 2018
- ICO- June 2018 till August 2018
Parameters Of The ICO
- Token ticker- CYC
- Platform- Ethereum
- Model- ERC20
- Supply amount- 15,000,000 tokens
- ICO sale supply- 8,000,000 tokens
- Accepts- ETH, BTC
- Price- 1 CYC= $1
- Minimum transaction amount- 0.1 ETH/0.01 BTC
- Sales to the public- 58%
- ChangeYourCoin- 30%
- Bonus- 8%
- Bounty campaign-4%
Use Of Funds
- Marketing- 40%
- Platform Development- 30%
- Reserve funds- 20%
- Legal- 10%
Although there is every reason to like the concept of ChangeYourWorld, there is little that one can consider as a solid idea or a viable venture. The idea is rather usual and it the lack of any uniqueness could spell future hurdles for the project regarding meeting the competition.