Bitcoin Forum

What is Universal Settlement Coin? USC has been designed to remove some significant hurdles which prevent large business and corporate users from joining the crypto currency revolution while continuing to offer an uncompromised crypto currency solution for day-to-day activities. We are specifically focused on replacing the existing service used to make international payments around the world; SWIFT.
USC is not just for corporates, in fact everyday users will be able to send and receive USC coins almost immediately for very small transaction fees and as we expand our partnerships then we expect USC to be used as a global medium of exchange. We refer to the standard day-to-day functional as the ‘Retail Lane’.

The second lane, called the Corporate Lane, is designed for corporate customers who want to use the global value exchange potential of crypto currencies but are unable to do so today due to concerns with the fungibility and sourcing of the underlying crypto currency, such as Bitcoin, face. The major difference is that Lane 2 will solely use coins which have been freshly minted (mined) or coins which have only been used in Lane 2 transactions. Miners who support the Corporate Lane will be rewarded with higher fees as corporates will be charged by an exchange to use the service. Miners will be able to select which corporate exchange they wish to use based on who offers the best fees and services.
There’s no difference between the payment priority on the Retail and Corporate lanes (we operate on the net neutrality principle).


USC is build using the same underlying technology as Bitcoin including SHA256 mining, Segwit support and, in the future, full Lightning Network support.

USC will be launched as fairly as possible meaning no ICO, no pre-mine, and anyone will be able to download our software and mine coins using standard mining hardware. We will announce a specific timeline closer to launch day.

Example Use Case of 'Clean Coins': International Payments
USC can be used for everything existing currencies are used for, our USP is that we will build the necessary technology and tools to allow business and corporate customers to make international payments between different local currencies (GBP, USD, INR, etc) without having to use legacy banking solutions such as SWIFT or SEPA. This is achieved by allowing miners to specify that their newly minted coins can be used by exchanges for Corporate transactions for a set period of time before they are then released into the wider ecosystem.


The USC solution differs from other crypto currencies because corporations can have confidence that the medium of exchange is ‘clean’ and has not been acquired through nefarious means. Miners who chose to keep some of their coins in a corporate exchange will receive higher fees as the exchange will be able to charge corporate customers a service charge to facilitate the transfer. We expect competition between exchanges and we will make it as easy as possible for miners to move funds between exchanges.

We’ll be seeking a proof of concept phase with UK Banks initially once the main net is up and running.

Founder
http://trustedcoins.co.uk/RC.png
Ross Clelland – Founder and Project Lead
https://www.linkedin.com/in/rclelland/
 

Bounties:
None at present. In future there will be bounties for pools, exchanges and explorers.

Recruitment
We are currently looking for:
•   Blockchain developers
•   Website developers
•   Product Managers with Banking/Payments Experience
Please come and speak to us in Telegram.

Progress Checklist
Stage 1
Full Node Build Complete (Testnet) - Complete
Windows Wallet Complete (Testnet) - Complete
Github Repository Configured - Complete
Website Created - Complete
Testnet Launch - 28/Feb/2018
Stage 2
Full Node Build Complete (Main) - Progressing
USC Explorer Live - Pending
USC Pool Live - Pending
Main Network Launch - Pending
Stage 3
Upgrade to full SEGWIT Address Support - Pending
Prove Lightning Network on Main Net - Pending
List on Exchanges - Pending
Finalise ‘Clean Coin’ design - Pending

Nothing for the GPU miners huh?

Hi i can join as a developer if your still looking for one.

While it will likely be possible to use GPU miners immediately after launch, longer term SHA256 will mean CPU/GPU mining will be too energy inefficient.

Hiya, please join our telegram channel or drop me a DM here. Thanks!

I've updated the main post to make it clear that the main net hasnt yet launched.

We're just finalising the software and full node client at the moment, should be a few weeks until we have everything on git hub and ready for download. Join telegram to get the latest updates.

Join and waiting

SHA256? I wish you all the best and will not be surprised to see the diff skyrocketing within an hour from launch.

reserved for aws.miningpool.shop

Can't tell if lucky or not even 2 pages of reserved

Vietnamese Translation Reserved

reserved for pool

That's a fresh look at the standard, obsolete way of payment.

I've amend the post to make the UPS clearer. It's not that we can facilitate international payments, it's that we can offer a service which allows regulated organisations to use more blockchain technology while also providing regular users with all the benefits of leading crypto currencies. International payments are just the first service we're going to pursue. If anything, we are more like a legitimate, decentralized, crypto currency version of Ripple.

We'll provide more information as soon as we can. Stay tuned!

Reserved for pool and explorer

Dev can you contact-me on telegram in order to setup a pool for launch?

tks

like it more info

hi dev, when does the coin be launched? is there a countdown for launch? any plans to MasterNodes in the future? thanks

I've added a tracker to the original post showing progress towards launch. Test net clients and daemon's are working so we'll be releasing them soon for wider testing, the full main net launch will be a few weeks later. Check back here or join our telegraph channel: http://www.t.me/usccoin

Hello all,

Just a quite note to say that we're successfully running the testnet of USC using Ubuntu Daemon, Ubunutu GUI and a Windows GUI client which are all happily talking with one another. For those that are interested, we'll post a few pictures on Telegram.

The website is now being worked on and once it's done we'll release the test net binaries and source code for any brave volunteers to checkout!

Quick update so to show off our Linux and Windows builds which are now running on the testnet.
http://trustedcoins.co.uk/usc-testnet-initiation.jpg (http://trustedcoins.co.uk/usc-testnet-initiation.jpg)

Really excited for this since theres no premine. cant wait to start mining.

Will you guys make a guide how to start mining when this comes out? so many coins dont have any guides or links to miner softwares which annoys me greatly.

Small update: Testnet and website will be launched tomorrow (28th Feb). Anyone who has some spare hash power will be welcome to point it towards the network :)

Count me in! with my single sad gtx 1060 6gb :D

Testnet wallet is now available on our website: http://trustedcoins.co.uk/usc/

If you want some testnet coins then please leave a note of your address here or send me a DM.

Full steam ahead towards a main network launched in March!

Dev. may consider to change USC with other name for your coins because there is already one that used USC (i.e. Ultimate Secure Cash) launched in April/2017. Just a reminding.

the wallet sync very slow. i must add the   addnode 138.68.135.134:18687 add for a sync.
for hashpower, i have a rx580 8gb.

regards

 nice coin like this spawning... and see it in the first days is a good game too. Following you and maybe mining you too.hope will be in great success