FLUZCOIN :A FINE PROJECT.
- Fluzcoin Can Also be useful online, in what sense?
BY PROVIDING AVAILABLE AND READY MADE GADGETS AND APPS THAT FACILITATE ONE’S WORK… A VERY CREATIVE PROJECT INDEED!
- Fluzcoin usage in online Commerce, web and mobile payments
- Fluzcoin team will provide integration framework and ready-made extensions to be integrated with popular eCommerce platforms such as Magento, Hybris, Salesforce Commerce Cloud (ex-DemandWare), Shopify, BigCommerce, PrestaShop, WooCommerce and other.
- There can be two types of integrations owing to blockchain nature of the coin – first, traditional, centralised like a PayPal or other crypto currency extensions, which centrally store merchants funds after receiving them from consumers and then can move or exchange them into other assets on merchant’s request.
- Fluzcoin POS 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.
- Sample Fluzcoin app screens
- 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 coins 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.
- 3,223,000,000 Fluzcoins shall be created for the initial ICO.
- Use of ICO funds
- Nov 2017 – Idea shaping
Jan 2018 – Idea sharpening and preparation
Feb 2018 – Whitepaper & refining and backtesting
Mar 2018 – Start of retailer onboarding
Apr 2018 – Start of private placements via ERC 20 Fluzcoin Token in selected jurisdictions and to selected audience
Apr 2018 – Patent Application
Jul 2018 – EUNOMIA Foundation Representatives Positioning
Aug 2018 – Sep 2018 Fluzcoin Token Replacement by JP Morgan blockchain powered Fluzcoins
Oct 2018 – Trading Start of Fluzcoin with AI coin governance
Q1 2019 – Start as use of payment means at retail
- Website: https://fluzcoin.io/
- Author’s Details :
- Username :Fandaw2000
- Bitcointalk Profile Link :https://bitcointalk.org/index.php?action=profile;u=2368914
- ERC_20Address 0x4d55287f58bb0b41a4f7b07a97ada9e75db02b36