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April 09, 2018, 05:56:16 AM |
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Citereum, the self-styled ‘coin of the city’ says it wants to create a network to accommodate a future of self-driving vehicles, rail, ships cars and drones by creating a decentralized platform where services can be purchased, sold and discovered using the CITERIUM token. It says that even before the ‘blockchain’ era begins, its technology can create opportunities for on-demand and manned rides and deliveries.
Powered by ERC20 smart contracts, the platform will allow for secure transactions and ‘trustless’ cooperation between all the vehicles and service providers within the Citereum ecosystem. Early participation is incentivised and there will be low barriers to market entry.
Owners of the currency gain by earning Citereum through Advance Rewards Funding, token staking, and lending. A Referral Program also allows users to be paid daily dividend rewards on their funds.
Crowdsale with a difference?
Although there are no details of the team involved in the ICO in its whitepaper, the online document does reflect Citereum’s steadfast position on the ‘use’ of its token rather than simply a means of trading.
The whitepaper states: “Our plan for this crowdsale ICO is to be different, in that we are hopefully launching a coin that people will buy because it holds value to them and they actually want to use it, rather than just trade it at the soonest chance they get. We are not selling a company share, equity or security. This is a coin which has a real-world application, but you can choose to resell in the future should you wish. It’s an important distinction.”
The paper also states that there will be a natural supply and demand through market fluctuations as there will only ever be 14 Million Citereum coins minted.
Citerium’s presale was launched on April 1st and the main ICO (due to be launched on May 1st) will last until June 26 . Only Bitcoin and Ethereum can be used to purchase Citereum during the ICO phase
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