

4/11/2018

Digitize is a phone application that allows the user to turn spare change into Digitize tokens at the point of sale by using the Digitize app.

I will review the details of the Digitize whitepaper. The Digitize Initial Coin Offering is ongoing at the time of this writing 4/11/2018.

The problem: Loose change

The Whitepaper starts with an abstract that covers the difficulties loose change causes customers and governments. In some cases, loose fiat change cost governments more to produce than its stated value. The Whitepaper quotes a study of Australian consumers that shows they lose an average of $60 AUD in loose change per year. Companies also lose a percentage of business profit handling coins. Small businesses often are forced to use bank coin counting machines to convert large amounts of loose change into bank deposits. The Bank fee for this service can be as high as 3-4% of the deposit. The alternative for small businesses is paying labor cost for employees to physically count and prepare coins for bank deposit.

Businesses, Governments, and customers can all benefit from a solution that reduces or eliminates loose change. The Digitize ecosystem provides a solution that is easy to use.

The Digitize Team:

The Whitepaper gives an introduction to the Digitize team members. I won’t go into the details here but I will list the top four team members and a link to their LinkedIn profile as listed in the Whitepaper. The entire team is listed in the whitepaper with links to their LinkedIn profiles.

Umer Aslam, Founder

Radek Ostrowsk, Lead Blockchain Developer

Rehan Ahmad, Business, and Legal Consultant

Ahmer Sheikh, Client Relations Manager

Very important to note the Digitize project received a very good 4.0 out 5.0 rating on Icobench.com Both Umer Aslam and Radek Ostrowsk passed the know your customer (KYC) provided by Icobench.com. These are two positive signs the project is on the right track.

Market Overview:

The Whitepaper covers the important overview of the Global Blockchain market and the cryptocurrency market. Both are expected to growth by multiples over the next 5 years.

The major barrier preventing the adopting of cryptocurrency use by the general public is the complexity of using cryptocurrency.

The Digitize team has a solution the Digitize mobile wallet. The wallet will be used by consumers and retailers. The Digitize wallet will be easy for the consumer and retailer to use and will lead to increased adoption of cryptocurrency as a result.

The Digitize Ecosystem.

The Digitize Ecosystem is comprised of three major components,

the platform, retailers, and consumers. The example in the image below is from the Digitize whitepaper.



The platform:

The platform, digital wallets and the digitize token will be managed by Digitize. Digitize will create smart contracts to assist retailers in the creation of rewards programs. Digitize will market the ecosystem and take active steps to recruit retailers who will adopt the Digitize system and offer

the service to their customers.

Retailers:

Retailers are a key component of the Digitize ecosystem. The retailer will provide consumers with the ability to convert change into cryptocurrency at the point of sale. The Retailers will be rewarded with 2% of all change converted into cryptocurrency paid directly to the retailer as a fee. In an industry with slim margins, 2% of all loose chain converted will be a powerful incentive for retailers.

Retailers will also be able to offer promotions to consumers inside the digitize ecosystem using smart contracts. Rewards programs and rebate programs can be run using smart contracts and the consumer will be able to use the digitize app to take advantage of these programs.

Consumers:

Consumers are the real winners in the Digitize ecosystem. Consumers will be able to convert loose change onto cryptocurrency for just a 4% flat fee. The loose change is then converted into Digitize tokens. The consumer can use the digitize token as payment to accepting retailers.

The consumer can also exchange the Digitize tokens for Ethereum on the Digitize exchange.

The exchange created by Digitize and available in the digitize wallet will allow consumers to convert into multiple

cryptocurrencies, serving as a gateway to consumers to learn more about the cryptocurrency sphere. Digitize will collect a 1% fee on the exchange trades.

Geographic expansion plans:

Australia will be the test market for the Digitize platform. Digitize will then move into Southeast Asian markets. The third target is the Middle Eastern marketplace.

The Digitize Token Sale.

The Whitepaper covers the details of the Digitize Token sale.

The total token supply is 200,000,000 tokens.The soft cap for the pre-sale is 600 Ethereum if this amount is not raised all funds collected will be returned. The hard cap for the pre-sale 4000 Ethereum, if this amount is collected, any additional funds will not be accepted in the Pre-Sale. The Pre-Sale started 4/6/2018 and offers a discount of 25%. 20,000,000 of the 200,000,000 tokens will be available for sale during the pre-sale.

The Digital Initial Coin offer starts on May 4, 2018.

100,000,000 of the 200,000,000 tokens will be available for purchase. The hard cap for the ICO is 20,000 Ethereum, if this amount is collected, any additional funds will not be accepted and the project will be closed to investment.

Restrictions: US citizens are not allowed to participate in the Initial Coin Offering or presale.

In closing, the Digitize Whitepaper is detailed, and well thought out. The Management team brings quality leadership. The Digitize project is highly rated on ICO Bench. The future is bright for the Digitize project and the Digitize token.

Digitize

Written by: icomasterether

Bountyhive.io ID:icomasterether

copyright: icomasterether.com