In order to accurately track tangible goods across discrete systems, multiple data formats has to be stored in multiple locations. This makes tracking goods and inventory cumbersome and often results in data loss. In order to guard against this miscommunication or loss of information inefficient and time consuming manual processes are used. This inefficiency in tracking goods and inventories, and the resulting loss of information is being solved by ReceiptCoin.
What Is ReceiptCoin?
ReceiptCoin is creating a standard format for commercial product information and data, and a service to insert that information and data onto a public blockchain. Product information will only be updated by the current owner of the product and data. In essence, RecieptCoin serves as a universal supply chain notary for each individual product. Businesses and customers alike can use this information to identify, catalog and re-market products.
They have two major parts, the first one is their B2B service which includes the use of an API. The second part is their consumer service which creates frictionless transaction for consumers.
ReceiptCoin Identity Of Things Blockchain Organization Advantages
- ReceiptCoin will provide an immutable copy of the tracking, shipping and purchase data which can be verified for reference at any time.
- An easy to use mobile interface provides a lower barrier of entry.
- A state channel allows the movement of ReceiptCoin tokens without fees within the ecosystem.
- It will work like an ERP to generate a fully transparent financial transaction.
- They will greatly reduce the chance of disputes over invoicing, shipments returns and purchases.
- They eliminate the uneven distribution of information among parties within the supply chain.
- Allows end buyers to economically authenticate the products they purchase.
- Using a decentralized model for managing supply chain data,, they encourage producers to provide complete information.
ReceiptCoin Products And Services
Blockchain Market App:
It is a consumer facing user interface for creating blockchain files and acts as a digital marketplace for exchanging ownership of those files. It is a cryptocurrency wallet with the ability of holding non-fungible assets.
ReceiptCoin service makes use of standard receipt contract to create an API for software to input and retrieve data from blockchain. There API is easy to integrate across the entire supply chain, from end users to manufacturers.
Pricing Strategy For B2B:
To make their service adaptable for both customers and businesses. Bulk prices are different and are calculated and executed through smart contracts. A B2B subscription service has a base level price.
ReceiptCoin RC ICO Details
ReceiptCoin tokens do not give ownership of the company and are not intended to be used for direct financial gains. There are 500 million tokens available with a hard cap of 250 million. The team gets 10% while the rest will be sold slowly over the next 5 years depending on the cost of creating receipts. It is priced at 0.0001 ETH/Token.
ReceiptCoin wants to change the entire landscape of supply chain through their product. They don’t want to be labelled as just another cryptocurrency but rather the foundation of marketplace of the future.
You can find out more about the company and their tokens on receiptcoin.io/