The popularity of cryptocurrencies continues to grow, but users still face key problems of the crypto industry weren’t solved in more than 10 years of working on them. Digital assets are highly volatile, which prevents them from being used as a means to pay for goods and services in both online and offline stores. Therefore, the audience is limited to a greater extent by crypto enthusiasts who show an exclusively speculative interest in cryptocurrencies, which is provided by such volatility.
Thus, retailers, banks and suppliers cannot fully deploy a decentralized trading network due to the risks associated with strong volatility. For mass adoption of cryptocurrencies, it is necessary to make it as easy to use them as to send a message in social networks or buy a product in an online store.
And at this stage, we are faced with another common problem — the disparity of cryptocurrency services. A new user may break their head while they figure out how to buy, transfer and exchange cryptocurrency, and even more so, buy something by paying it.
The question is: how can I use cryptocurrencies without juggling multiple wallets, private keys, seed phrases, and various authenticators and multi-signatures?
The TBCC development team has come up with a platform that will provide cryptocurrency users with a full-fledged all-in-one infrastructure, so that they can conveniently buy, store and pay with cryptocurrencies in one place.
THE TECHNOLOGY BEHIND THE TBCC PLATFORM
The TBCC platform is a united decentralized ecosystem for users, retailers and suppliers. Users can pay for goods and services using cryptocurrencies that are stored in the platform’s mobile multi-currency wallet.
MOBILE TBCC CRYPTO WALLET
The main asset management center is located in the mobile application of the platform. Using the wallet, users can pay for goods and services using cryptocurrency using a QR code, store addresses and private keys. The wallet supports multi-currency functionality: in addition to the internal TBCC Coin token, users can store popular coins such as Bitcoin, Bitcoin Cash, Ethereum, Ripple and other crypto assets. The mobile wallet is available for free for iOS and Android devices. Let’s describe the advantages of a mobile wallet.
SECURITY
Your private keys are encrypted and never leave your device. You are in full control of your funds and can restore access to your funds at any time using a seed phrase (a mnemonic password for a crypto wallet).
ANONYMITY
You do not have to create accounts and pass KYC verification to use any wallet features. Funds are completely owned by users, and no one can block them.
ROUND-THE-CLOCK SUPPORT
The support service is always ready to help users solve their problems 24/7. Specialists quickly respond to requests. You can contact them via chat or email.
PAYMENT VIA QR CODE
Users can make purchases using a QR code at retail outlets and online stores connected to TBCC. You can make a payment using the store QR code or a one-time QR code generated by the seller for a specific purchase. In the former case, the buyer will need to enter the cost of the product or service themselves. In the latter case, the cost will already be encrypted in the code. The buyer only needs to confirm the operation.
POS TERMINAL
The main feature of the project is that TBCC supply their own POS devices for accepting payments in cryptocurrencies. The internal token of the platform — TBCC Coin — is used both as a payment unit and as a gas, similar to what happens in the Ethereum blockchain, where gwei serves as the fuel that drives cryptocurrency transactions.
The main mission of the TBCC platform is to demonstrate how easy it is to use cryptocurrencies to make everyday purchases using their own technology.
The creators plan to deploy a decentralized trading network around the world, making crypto payments as convenient and secure as possible for both buyers and sellers.
THE PROBLEM OF VOLATILITY
What about volatility? Earlier we talked about the fact that the high volatility of cryptocurrencies makes it unsuitable for use as payment of products and services. In just a day, the exchange rate of cryptocurrencies can change by 10% — 30%. There are cases when digital assets fall in price even by 50% or more. In such conditions, the use of cryptocurrencies as a payment tool is impossible, but the creators of the TBCC platform have found a solution: hedge in stablecoins. In this way, it is possible to keep the token price from a fall that can hurt retailers and suppliers of goods.
What is the advantage of using cryptocurrencies for payment? Users mistakenly believe that they will pay the same amount, so there is no positive side to converting to cryptocurrencies. In fact, this is not the case. Banks authorize transactions via a POS terminal and process currency payments. A decentralized network allows you to exclude banks from this chain, so that the service for stores will become cheaper, and the prices of goods will decrease accordingly.
SECURE PAYMENTS
Another important advantage of the payment system underlying the TBCC platform is the security provided by the blockchain. Traditional e-commerce online stores process requests for a long time. Blockchain allows you to speed up and automate this process in many ways. This is especially true for the return of low-quality or unsuitable products.
The TBCC structure supports a fully autonomous marketplace where users can buy goods and services from online stores, as well as freely exchange one crypto asset for another.
Other advantages of the platform:
- The mobile app provides secure storage, purchase and sale of cryptocurrency in one touch. Users will not have to understand all the nuances and spend a lot of time in order to use digital assets every day.
- Stores will be able to accept payments via the TBCC mobile payment system using a crypto wallet. Customers will be able to pay the invoice issued by the online store using a QR code.
In addition, the blockchain provides full transparency and integrity of data stored in the blockchain. Thus, the decentralized network fully accompanies both sides of the transaction from the moment of purchase to the moment of receiving the goods. Users will be able to track the status of goods and deliveries through the tracking system. This way the customer will always be aware of the order status throughout the entire transaction period.
CONCLUSION
One of the main messages of skeptics is that cryptocurrencies have no real value: they are used primarily for speculation in the financial market and are not used in the real sector of the economy. The TBCC platform will change this view by providing a flexible blockchain system for retail chains. The system has great potential to ensure world-wide adoption of cryptocurrencies.
