NetCents is a next generation payment processor, supporting multiple traditional currencies, cryptocurrencies, and all innovative payment methods to give users the freedom to pay, their way and to empower merchants with tools to lower their financial risk.
The Problem With the Current Landscape
Far from being a widely held unit of value, Bitcoin holdings are very concentrated and quite extreme. Out of all the bitcoin addresses, 3.14% own 96.7% of the entire bitcoin market.
This is not what decentralized currency was meant to be.
3.14% of all addresses own
of the Entire Bitcoin Market
The NetCents Solution
NetCents will utilize their existing delivery ecosystem to introduce a NetCents proprietary coin that will be:
- Widely held
- Widely circulated
- Transaction driven
- Coin parameters
- Exchange Deployment
- Exchange Nodes
- Currency Wallet System
- API Build
- Compression Development
- Replication Blockchain Nodes
- Pre-currency introduction
- Deployment of NC for Merchant transactions
- Transfer merchant settlements to NC
- WORLDWIDE LAUNCH – OCT 31, 2017
Based on the latest Blockchain & Cryptocurrency technology
- NetCents’ platform is based on the latest Blockchain and Cryptocurrency technology.
- Blockchain technology is a digital public ledger of all transactions without the need for a central authority that replaces the existing analog system.
- By recording every transaction in the public domain, Blockchain technologies allow for the automation of validation protocols in real time and removes the need for “trusted” 3rd parties.
Next generation fraud & risk reduction modules
- Our AI 2.0 proprietary algorithms, IP and user verification and probability modules with advanced anti-fraud security services, reduces fraud and risk.
Stringent underwriting rules with IP verification
- Every transaction Netcents processes is subject to stringent underwriting rules with IP verification.
- We access 145 data sources worldwide to provide sophisticated IP and user verification. This includes Government records, Interpol, FBI and UN sanction lists.
- This process allows Netcents to look at millions of data points before the transactions happens to stop fraud, eliminate risk and lower processing costs for merchants.
Probability modules with industry leading KYC/AML
- Our probability modules identify fraudulent users and transactions before the transaction is made.
- Fraudulent transactions and chargebacks are flagged and eliminated before they are processed by the Banks and Credit Card companies saving merchants billions of dollars in chargebacks.
NetCents will launch its currency with 10 select merchants. The currency is built for mass adoption and expects to have over 70M coins in circulation after one year following the projected release schedule. Exponential growth will continue in year two with over 500M coins in circulation, ramping up to over 1B in year three.
Netcents will insure their currency possesses the characteristics as defined by the Bank of Canada for a desirable medium of exchange:
- Ease of transacting
- Minimal counterfeiting, Fraud prevention
- High degree of safety
- Scarcity – limitations and control of supply
- Uniformity of currency
Release Management and Coin Value Management
The release of NetCents will be structured so as to sustain and defend the floor price level of each release. Once the coin has been released there will be a percentage held back in reserve by the company to protect and assist in value support. Additionally, through careful supply management subsequent releases will be released at escalating price levels. Supply management will be the key driver of long term safeguard against devaluation. One only has to look to hoe current Governments control or more correctly, not control their money supply to see how an ever increasing supply of currency has serious long term negatives effects.
Initial Coin release will be a total of 20 million coins release in tranches of 8 to 10 million coins per release. Actual release amounts will be dictated by current transaction volumes, user and merchant acceptance and ultimately coin price.
As indicated above, NetCents is proposing releases based on pre-determined market prices. a 50% reserve. This will achieve two objectives:
- With a structured regulated release and a 50% reserve the company will be able defend and support the price of the coin if the situation is warranted. Additionally, if here is a rapid price appreciation of the coin, the company will be able to sell into the price inflation and realize benefits in terms of capital acquisition without realizing shareholder dilution.
- Conversely, the company will be able to defend the value of the coin if there was a substantial decline in market value. By selling into a deteriorating market the company would be able to provide price support.
Price support and supply management are critical elements in the early stages of deployment and while such support is not possible in the long term, once the coin gains momentum and is widely circulated inherent market forces will dictate price and value.
Proprietary Exchange Gateway
NetCents will operate its own independent exchange that will run on our proprietary blockchain. This exchange will handle payments, settlements, track distribution metrics and updated parameters. A NetCents intuitive trading platform will introduced as well for the purchase and sale of NetCents.
NetCents is well aware of the numerous high profile Initial Coin Offerings or ICOs, that have raised about 1.5 Billion dollars, this year alone. To be clear, NETCENTS is not conducting an Initial Coin Offering, ICO. NETCENTS is introducing a currency through a proprietary cryptocurrency exchange. Most companies cannot and should not do an ICO as their business model is not decentralized and hence their token has no utility value.
The NetCents coin will address these issues and truly be a medium of exchange for the masses.