A decentralized payment processor running on blockchain focused on offering improved user experiences and increased savings to consumers and suppliers alike.
Launched in 2018, Cafe Coin aims to be the premier payment processor in the cryptocurrency space. With many other projects (https://www.paybear.io/, https://coingate.com/ , https://www.aliantpayments.com/crypto-processing/) offering similar products, the space will be rife with competition.
Cafe Coin aims to build corporate relationships, starting with the coffee sector, and hopefully expanding into other areas of B2C and B2B business. The will leverage existing payment systems running in a Blockchain environment in order to provide real-time transactions with minimal fees. They will simplify the payment process, allowing users to create transactions with any merchant using their centralized Cafe Coin wallet. They have created built in protocols in order to handle price volatility, an issue that has plagued the cryptocurrency community since its inception. Additionally they will streamline the process of converting crypto into fiat currency, allowing merchants to accept payment in Cafe Coin and then easily exchange it for their fiat of currency.
In order to maintain price stability, Cafe Coin has reserved 20% of all tokens minted in a special fund that will be tapped to accommodate excessive demand. This should keep the price from experiencing the spikes and crashes that are so common in the cryptocurrency space. Additionally they have added measures against inflation, by airdropping new Cafe Coins to holders relative to the overall inflation in the world market.
The Token
Cafe Coin recently finished their public ICO, selling a total of 6,250,000 million tokens in their private and public sales while retaining the majority of tokens in the treasury reserve. The funds generated will be split between product development, marketing, strategic acquisitions and the reserve stability fund. The large amount left in the undefine “treasury reserve” gives us reason for concern. What are those coins for @CafeCoin?!
The Team
“CafeCoin, A Revolutionary Blockchain Payments App Designed By Columbia University Ph.D. Scientists”. Founded by a group of Professors and Students from the prestigious Columbia University, the project boasts an impressive team of over 10 members. With key financial backing by Colombia University, the project seems to have accumulated everything they need in order to launch a successful project.
The Roadmap
Launched in 2018, CafeCoin has an ambitious roadmap, aiming to go live in the fourth quarter of 2019. They recently finished their public and private ICO’s, selling over 6 million tokens out of the 20 million available. With a roadmap that leaves us a bit desiring, the CafeCoin team has a lot of work cut out for them in order to achieve their goal of becoming the “premier payment processor running on blockchain”.
Conclusion
Cafe Coin is an interesting project. With low transactions fees and incredibly quick processing times, using crypto for payments has been an obvious choice since its inception. In order to accomplish this, widespread adoption is need from suppliers and stores. It has always been a problem of network strength instead of technological innovation. Can Cafe Coin solve this, up until now, unsolvable problem. ONly time will tell.
The team at ICOsandwhich gives Cafe Coin a 6.2.
