Due to volatility, the size and the daunting nature of bitcoin compared to the Croatian economy, usage of the bitcoin might be a problem. The platform seeks to provide a solution to this problem by introducing an alternative to bitcoin, the Crobyte. Usage of the Crobyte would result in an increased number of people, especially those previously blocked by financial institutions, to be solvent and participate in the economy.
The currency seeks to solve the core issues that face Croatia such as corruption, nepotism, and poor education systems that lead to a disastrous financial system for the people.
How CroByte Mobile Crypto Wallet Works
Crobyte will start by first raising awareness about the new technology. Once the awareness has been raised and the adoption of the currency has started, practices such as working cash in hand, breaking tax laws, and support of black markets will be reduced as people will have control of their money and are able to participate in the economy.
Another problem that Crobyte seeks to solve is the brain drain occurring in the country, as most professionals are leaving due to lack of job opportunities. It will provide an opportunity for these individuals to put their skills and expertise into good use through participating in world economy online while at same time improving their local economy.
The Crobyte will provide a sustainable and healthy market in four steps.
Through the decentralized blockchain technology, a market that generates income and work is created for skilled people while also offering solutions to the problems facing the economy.
A strong and stable community is formed due to the education and awareness it will raise.
Through proper tools, awareness and incentives the growth of the market will be achieved.
The cryptocurrency market is an open market with encourages new ideas about products and services which leads to innovations.
Why invest in Crobyte?
- The project will increase the accessibility of its coins through introducing a wallet that is downloadable as an application that supports android, windows, and mac and Linux devices.
- The project will also ensure distributed and fair mining efforts through using the x11 algorithm as well as DGW difficulty re-targeting system.
- It is fast and reliable. Crobyte uses the Proof of Work system, which has very low fees as well as fast block time to make transactions fast and efficient.
CroByte CRO Token ICO Details
As it stands, 50% of the Crobyte coin will be availed for the Initial Coin Offering and general distribution, while the remaining 50% will be brought into circulation by crypto-miners. This method of distribution will ensure that the coin runs smoothly. In order to ensure the stability of the coin and that the coin reaches more people it will be distributed over a period of 2 years.
During the Initial Coin Offering 35,000 Crobytes will be sold for 1ETH. Apart from Ethereum, other currencies such as BTC and BCH can also be used to participate in the ICO. Depending on the stage of the ICO and the number of coins sold, early investors will get discounts from as high as 40%.
The funds that will be obtained from the ICO will be used to further advertise the coin and repurchase of the coin, which will lead to increased price of the coin and therefore facilitate its usage within the economy.