In yesterday’s article, we already talked about how we work with the Georgian government to drive implementation. We had our own reason to start Spotcoin and since we’re all about transparency, we would love to share it with you.

Where to start?

At Spotcoin, we love enabling people. So does Simon Sinek. The author and business consultant created his wonderfully simple model for brands to express just why they’re in business — and it’s not just to make money.

It’s called the Golden Circle and you start in the middle and work from the inside out. So it starts with why, the intrinsic motivation to do something. Only then do you move on to how you want to achieve it, and what it is that you actually do every day.

Simon Sinek’s “Golden Circle” (Mosborne01/Wikimedia cc by-sa 3.0)

This is Spotcoin’s golden circle

Why

We want to make digital currencies and blockchain technology work for everyone.

How

We break down barriers between digital currencies and their use in the real economy.

What

We make digital currencies accessible to as many people as possible. Our exchange will seamlessly connect digital and regular currencies for a free flow of capital. We advance education, innovation and implementation in the Black Sea region.

Surely, that’s not the only way to put it.

A more traditional way is to speak about purpose, vision and mission. Now, a common mistake is to see vision as a way of how you see the future, whereas it should really be about your own view on the world: a personal truth you hold dear. From there, the mission can be about goals.

For Spotcoin, that would work out like this:

Purpose:

Make digital currencies work for everyone.

Vision:

The great potential of blockchain technology can only be fulfilled if it aligns with and builds upon the economic systems that are already in place.

Mission:

To break down barriers between blockchain technology & digital currencies, and the traditional economic systems, by providing a smooth, fast and trustworthy interface and advance blockchain education, innovation and implementation.

How does the ICO help?

The ICO is needed to raise funds to make the digital exchange possible. Our aim is to have the exchange up-and-running as soon as possible, as it is the key to providing access to the Black Sea Region. We have already been servicing clients with our OTC, but that’s really meant for large scale trades and not for everybody. Whereas that is exactly our goal: everyone should be able to take part and benefit from the smart economy.

A digital, automated exchange can operate at far fewer costs per client, lowering the threshold dramatically. Also, we’ll be the first for several markets to offer direct local fiat currency to digital assets exchange services. Meaning people can use their lari, lev, lira, and rubles to buy a number of cryptocurrencies directly, without having to exchange into USD or Euros first. This makes it far more attainable to the masses.

And what do you get for supporting our mission?

Besides a warm, fuzzy feeling inside, we do have a solid business offer for investors in our SPOT token. Since we want to create access for the masses, we have also made our business model contingent with reaching those masses. We offer 51% of our exchange fees as a weekly dividend. That means that as more and more people trade in digital assets using our exchange, the small fees they pay will add up to create return on investment.

Every week, we will pay out 51% the total of the exchange fees to our token holders, per ratio of the number of SPOT tokens they hold. On top of that, we offer 12% of the net profits of our other Spotcoin business lines, like our OTC, mining operations and future webshop application SpotPay, as a quarterly dividend. Let me sum that up for you

-Weekly dividends of 51% of our exchange fees

-Quarterly dividends of 12% of the net profits of the other Spotcoin business lines.

Altogether, we believe we can make digital currencies work for everyone, including our token holders. If you’re still on the fence, we hope a closer look at our established OTC will make a difference. We’ll do that in our next article. Hope to see you there.