Jalan Sukses: A review of CafeCoin - The Smart Universal Payment Token

Background

To authorise the payment, the merchant has to connect (usually in real time) to its acquiring partner, often via a payment service provider or gateway. The acquirer then has to communicate via the relevant card brand network with the consumer’s card issuer. The issuer verifies the validity of the card and its ability to service the payment.

This message then passes back down to the merchant via the card brand network and acquiring partner and, assuming all is well, the transaction takes place.

What we really have here is a ledger lookup based on a trust system. The acquiring bank trusts the issuing bank that they will reconcile the payment based on mutual membership of and adherence to the card brands’ rules. Everyone will get their money and the consumer their goods.

However, there are a number of problems with the current system namely;

There are many players involved and each takes a piece of the pie, each takes a fee somewhere in the chain.
It’s not actually very secure; the piece of plastic we carry around is very susceptible to misuse and fraud. That’s why a whole industry of PCI DSS has evolved.
It’s not very friendly to emerging nations, where credit card usage is difficult, from prohibitive fees, set-up costs and bank mistrust to lack of postal systems for safe card delivery and credit verification.
It’s controlled by a few major card brands.

So with the competition still yet to take hold, the industry is ripe for disruption through blockchain technology and distributed ledgers, but only as long as that process is made as easy, and as quick, as using the incumbent payment methods.

About CafeCoin

CafeCoin is a game-changing blockchain payments platform developed by prominent Ph.D. scientists from Columbia University designed to connect customers and retailers. CafeCoin’s blockchain and mobile App can be used to buy or sell goods anywhere, at anytime, and without the added cost and data exposure that comes with traditional payment processors. With CafeCoin, the credit card fees typically charged can be saved, and that money is passed on to the users as tailored discounts and loyalty rewards.

CafeCoin allows users and retailers to control the historical data they share with each other, and the ability to share that data in return for tailored discounts and promotions. CafeCoin’s anticipated advantages are quick transaction period, minor transaction cost, price steadiness, and ease of use for both purchasers and sellers due to the smart UI of CafeCoin mobile app. CafeCoin’s preset transactional structure virtually eliminates transaction costs traditionally paid by merchants and consumer.

CafeCoin forwards compelling ongoing market demand, and is supposed to originally be powered by either Stellar Consensus Protocol or Ethereum. Although CafeCoin is intended to be primarily utilized in the coffee shops, it is altogether a utility token of broad application, so it can be seen as a universal payment tool for any products or commodities.

CafeCoin Benefits

The CafeCoin Foundation envisions a system that will satisfy global demand for the mass market crypto addresses. This is the fundamental roadblock to the broad commercial adoption of crypto. It will achieve mass adoption in this manner:

Building Corporate Relationships

Beginning with the high margin retail coffee shops, it will offer incentives for the merchant and consumer adoption.

Innovative Payments Infrastructure

With an infrastructure powered by the blockchain, it will be possible to achieve high volumes of near real-time transactions. All this will take place at a minimal fee in the marketplace.

Simplify Payment Processes

Besides making it easy for the average Joe to understand how to pay in crypto, this project will also work to improve liquidity.

Other solutions by this project will include offering a structure that addresses the issue of volatility. Besides that, they will allow merchants and consumers to interact with ease, utilize exchanges to trade, and convert CafeCoin.

CafeCoin Token

Token Name: CAFECOIN
Platform: Ethereum
Standard: ERC20
Total Tokens: 100,000,000
Private Sale: 2,500,000
Public Sale: 30,000,000
Price in ICO: $3.00
Accepted: BTC, ETH, LTC, RPL, XRM, XRP, TETHER
Soft Cap: $15M
Hard Cap: $30M