It was 2014 when I first found out about Bitcoin and how the alt coin evolution was already happening. It opened my eyes to what is possible and gave me hope for what is to come. Right away it was obvious that Bitcoin's major hurdle was the learning curve it takes just to acquire them, and spending your coins is not much easier to those who have never tried it.
Unfortunately, this tends to push most people back into the failing federal reserve note that we have all been brainwashed into believing is real money. So we decided to try and merge the easy use world of a credit card swipe with the revolutionary world of the blockchain.
This is just a brief introduction, I just found out about steemit.com and couldn't wait to get the community talking about what is coming! I will be updating this channel with prototypes, diagrams of how we integrated into the POS system, details about the blockchain, ect.
I myself, am not very technically knowledgeable about what's under the hood on the developers end but I believe the white paper is set to be released by the end of the month.
It is easy to see that bitcoin is at yet another defining moment with the block size issue and not being able to easily scale for future growth without intervention. The ethereum/ DAO controversy in recent news also shows how intervention can backfire. I have high confidence in BTC and believe it will continue to be the leader of the crypto universe for some time to come, but there is something left to be desired for this technology to truely leap into that ocean of mass adoption.
From what I understand so far, it will be proof of work, no pre-mine whatsoever. It will have a limited amount of coins to be released at a deflationary rate just like Bitcoin. We are thinking of doing a kickstarter to help fund all the countless hours that the dev team have put in. Its not confirmed yet, but if we do open a campaign, I will post a notification here. Also when wallets are to be released.
The end goal is to produce a coin that is blockchain self sustained peer to peer, with the latest encryption, that has transaction speeds that are indiscernible from the use of a standard credit card, with the convenience of use built in by having it work on the current POS credit card swiping system without the need of new infrastructure.
Alright guys, thats it for today. Please spread the word. Let me know if anyone would even support a KickStarter or other crowd funding if we do decide to open a campaign. Much more to come, I'm excited to release this first on steemit and see what happens. I'm a huge believer in innovation and love to see good ideas catch fire.
White paper likely to come next..
cheers and happy mining, to future prosperity
"I hope our wisdom will grow with our power, and teach us, that the less we use our power the greater it will be."
Thomas Jefferson
Is the name of this coin Swipe Coin looking forward to learning more