Fluzcoin, as an independent and participative retail coin with its foundation based governance, simultaneously solves four issues that current cryptocurrencies have not been able to solve: speed, cost, compliance and excess volatility, thereby creating an intelligent digital currency ready for mass adoption.
Avoiding these downsides of cryptocurrencies and at the same time the lack of value increase of fiat currency pegged stablecoins, Fluzcoin prevents excess volatility by creating a self-correcting system (US Patent Office pending: 62/648,206) where rules and AI based central banking algorithms constantly steer the Fluzcoin supply and demand such that prices expressed in Fluzcoin are set to take a rather steady path.
In essence, Fluzcoin is the intelligent retail coin that satisfies the needs of both merchants and consumers.
For merchants :
Zero transaction costs
Clear Know-your- customer (KYC)
By being built on the immutability of blockchain systems Fluzocin is default risk free
Merchants may build their own loyalty coins on top of the Fluzcoin system leveraging its mechanisms and technology
Market Intelligence into consumer behaviour
Immediate availability of collected funds and convertibility into FIAT
currency
For consumers :
Prices in Fluzcoin are likely to be less than their FIAT counterpart as merchants are able to pass on a portion of their transaction cost savings towards the consumer
In line with global trends towards cash-less mobile payments
Fluzcoin offers consumers the opportunity to build wealth by holding Fluzcoin on a steady basis
In stark contrast to rewards programmes of credit card companies or airlines whose rewards often expire after a certain lapse of time, rewards issued in Fluzcoin appreciate according to mechanisms outlined above
Fluzcoin payment flow
Consumer is equipped with free app that is Fluzcoin wallet as well as additional features, for example tracking of free coins distributed to Fluzcoin holders, search of nearby stores accepting Fluzcoin and providing special deal redeemable for Fluzcoin only.
A merchant is displaying the total amount of the cart on a conventional cash-desk screen along with conversion into Fluzcoin amount.
Payment invitation is presented by a scannable QR code, which might be unique for each transaction (or come from a pool of reusable addresses).
A user acceptance of the payment is embedded into scanning action – once the QR code is scanned, transaction is fired.
Technology
Fluzcoin is deliberately positioned as technologyagnostic. To begin, he has chosen JP Morgan Quorum from Ethereum, in a version tailored for institutional needs. The adoption of a validated solution, JP Morgan Quorum blockchain permission of the last generation, allows high data and privacy.
Fluzcoin will also provide its own wallet for storing, selling, and repairing with a practical QR. The Fluzcoin Wallet Company will make the necessary contributions to Fluzcoin payments.
Blockchain as a technology underpinning affordances necessary to fulfill the goals of a coin powering retail transactions.
The technology needs to support:
Zero-fee transactions for consumers
Privacy for consumers - consumers do not want others to see what they are buying
Independence for merchants
KYC enablement - consumer wallets need to be upgradeable by KYC to facilitate regulatory concerns of banks and servicing merchants
Trust in the records of the distributed ledger for consumers and merchants
Tradeability - the coin should be easily exchangeable into crypto assets on exchanges
High transaction speed
High throughput - retail is operating under load compared to conventional blockchain transactions. The transactions per second (TPS) threshold should be comfortably running at at least 250 TPS in the 1st project phase.
Scalability in terms of a large blockchain file and its indexing. Blockchains do not store “balances” of coins, but calculate incoming and outgoing transactions on the fly, so in addition to the main ledger file there is also an “index” maintained to facilitate fast operations. Under the scenario of a successful coin roll out, the file might easily grow to Terabytes and such growth needs to be accommodated without a degradation in performance.
Fluzcoin Token are created at the ICO and on a continuous basis after that through issuance to the holders of Fluzcoin.
This issuance takes two distinct ways or tranches :
Holders of Fluzcoin receive dividends which means they get new Fluzcoin automatically issued into their wallets in proportion to their holdings. The level of dividends reflects the value creation of Fluzcoin, the higher the market cap of Fluzcoin becomes, the more dividends holders of Fluzcoin receive. Dividends are paid at frequent intervals (more frequent than monthly) and the level of dividends is set by the EUNOMIA Foundation.
The EUNOMIA Foundation also issues new Fluzcoin to the market in exchange for other currencies; the purpose of this second channel is to enable the Foundation to cover the running costs of operations of the Fluzcoin systems as well as to maintain and grow the Fluzcoin Reserve. This issuance is subject to a strict and transparent ruleset outlined below along with more details on the Foundation and the Reserve.
