Sigma Coin is a distributed trade commerce ecosystem that claims to be like no other centralized or decentralized currency available today. Find out how Sigma Coin works today in our review.
What Is Sigma Coin?
Sigma Coin, found online at SigmaCoin.io, is a new digital currency managed by a self-sustained trade agency “driven by eminent entrepreneurs.” The coin promise to employ strong new technology to improve timing and results. Like many other digital tokens, Sigma Coin promises to be “the future” of the industry.
The goal of Sigma Coin is to create a distributed trade ecosystem unlike any centralized or decentralized currencies offered today. It connects exceptional startups, importers, exporters, and investors to make the business world more efficient. The coin also promises to be easy to use.
Did any of the above features make sense to you? Because they don’t make sense to us. The Sigma Coin website is filled with vague terms about how it’s going to make the business world more efficient, and how the coins are a strong investment opportunity.
Reading through the company’s whitepaper, you don’t even get an explanation of how the company works until the last page, when you learn that they’re focused on digitizing assets between importers and exporters, while also implementing some type of invoice marketplace. The company also offers Sigma Coins (SGC), which you can use to access financial data assessing the risk of lending money to a certain company.
The SGC crowdsale is taking place throughout July and August.
Sigma Coin Features
Sigma Coin promises to offer all of the following features:
Sigma Coin is a distributed trade commerce ecosystem designed for the distributed future, making it ideal for the needs of today’s businesses. The platform aims to be one of the world’s leading platforms that harnesses the disruptive power of blockchain, translating the logic of interactions into successfully distributed businesses models that shape the future.
Sigma Coin plans to form a network of exceptional advisors and partners, including PWC, Wachsman PR, Midas PR, and others. These advisors will constantly add expertise to the Sigma Coin network. It’s unclear if Sigma Coin has partnered with any of these groups or agencies at the moment.
Sigma Coin plans to deliver outstanding transactional timing so it can deliver results when required. In more straightforward terms, Sigma Coin plans to offer faster transaction speeds than bitcoin.
It’s Not Centralized or Decentralized; It’s Distributed:
The word “distributed” is key when talking about Sigma Coin. Unlike centralized or decentralized systems, Sigma Coin’s distributed system ensures the transactions go in a chain and are distributed among the people, forwarded one after another.
Sigma Coin ICO
The Sigma Coin ICO launched on July 7. The price was set at $0.06 per token, with bulk discounts and early bird discounts available.
How Does Sigma Coin Work?
The Sigma Coin whitepaper is awkward and difficult to understand. The majority of the whitepaper is spent discussing how ICOs work, along with vague discussions of how the money will be used to finance the platform. It’s not until the last page of the whitepaper that you understand what kind of services Sigma Coin is offering here.
Basically, users who hold Sigma Coins (SGC) can purchase invoices on the Sigma Coin platform or obtain credit scores for certain entities that have a stable financial track record. Invoices are uploaded onto the Ethereum blockchain regularly and at no cost by claim sellers.
In other words, Sigma Coin’s whitepaper makes the platform seem like an invoice selling platform – similar to what we’ve seen offered by other blockchain technology platforms. However, the front page of the website doesn’t mention the word “invoice” once.
Overall, the Sigma Coin whitepaper and website is a mess of vague technical terms. It’s difficult to understand what Sigma Coin is offering – and there’s virtually no information about the technical details behind the platform.
Benefits Of Sigma Coin
Why should small and medium-sized businesses use Sigma Coin? Here are some of the advertised benefits of the platform:
- Allows small and medium-sized businesses to gain access to short-term financing by turning their receivable assets (invoices) into tradeable assets
- Allocate invoices onto a secure blockchain to create a new source of financing
- Access a common marketplace of trade commerce, exporters, and importers, including their financial data
- Access a meta-market for financial institutions “to serve their financing options using Sigma Tokens as per their terms and criteria’
- Access a risk algorithm that analyzes the risk factor associated with a particular company
- Secure assets with exporters and importers for better business efficiency
As mentioned above, the Sigma Coin whitepaper doesn’t do a great job of explaining the platform or how it works. It does, however, spend a lot of time trying to convince you that you should buy a lot of Sigma Coins as a good investment opportunity.
Who’s Behind Sigma Coin?
Sigma Coin is led by CEO Daniel Schwartz, who is currently the CEO of P Performance Limited and CEO of 3T Network Limited. Other key members of the team include CFO and Board Advisor Spencer Sharpe and CTO Biman Das.
The Sigma Coin website mentions that the organization plans to partner with PWC and other leading financial organizations. However, it’s unclear if Sigma Coin has already partnered with these agencies, or if they have any firm plans to partner with PWC.
Sigma Coin Conclusion
Sigma Coin is a trade commerce platform where you can buy and sell invoices, or where importers and exporters can secure trades using blockchain-based assets. At the moment, the company’s whitepaper and website are a bit of a mess, and neither go into great detail about how the company works, or how the technology is being developed.
However, if you’re confident about the future of the project, then you can buy Sigma Coins (SGC) today through the SigmaCoin.io website.