According to the data collected by CAGR, it has been shown that the ‘payment processing industry’ has a bright future, and should continue to grow at a rate of 7% per year (for the next 5 years atleast). As a direct result of this, there will be an increased load in the number of online and offline transactions that need be done by individuals as well as businesses.
To put things into perspective, we need to understand that every monetary transaction that we perform (whether it's on amazon or at our local 7-11) makes use of a certain algorithm that is vulnerable to hackers.
In the past couple of years, the number of cyber attacks in which bank and personal details have been compromised has increased quite substantially. Infact, PayPal was one of the early casualties when in 2016, hackers broke into their mainframe and exploited the details they had procured.
Similarly, credit card fraud is also quite common and in 2017, 56 million Visa and MasterCard users were hacked and their details were smuggled off from “Home Depot” servers (and sold on the black market).
What Security Measures Can Be Taken?
While the cases presented in the previous paragraph pertain to large companies, there are also many issues that seem to be plaguing the average person on the street. Payment processing firms have said that due to frequent cyber security lapses, it is becoming increasingly difficult to keep track of every breach or compromise.
Thus, to stay clear of any such issues, many companies are constantly working on security patches that are able to detect even the smallest inflections within the network.
How Can Truckcoin Solve This Problem?
Truckcoin is a ‘blockchain based payment platform’ that has been designed to help eliminate the risk of hacking and phishing via the use of advanced security protocols. It is being developed by Golden Hill International Limited, so as to provide people with a means of gaining complete peace of mind when making business deals (irrespective of the monetary volume of the trade).
What Are Some Its Features?
- Privacy: to start off with, Truckcoin makes use of an ‘encrypted, decentralized ledger’ that has further been coupled with a next-gen cryptographic software to help preserve user information and personal data.
- Unique Security Measures: another exciting innovation that drives this platform is the fact that, unlike conventional blockchain services, Truckcoin makes use of a ring shuffle technology. This basically means that none can monitor a single user by looking at the transaction history of the public key.
- Immune to Brute Force: one strategy that many hackers these days employ is that of brute strength. However, TruckCoin uses an architectural framework that ensures full protection from hacking groups.
- Unique Mainframe Design: the system makes use of a ‘proof-of-work blockchain’ that helps increase information retention and prevents any data leakage.
How Can I Become a Part of This Truckcoin ICO?
Investors have shown a good response towards this project and are already waiting for the ICO to go live. The pre ICO has ended and some say that the listed tokens sold out within the first hour itself. However, there is another ICO that will start on the 31st of December.
During this token sale there will be a total of 513,333 coins that will be made available to users. Interested customers can invest in the ICO by buying a ticket on the website (for anywhere between 20-50 dollars).