Titus Coin, a new way to pay – Initial Coin Offering

The Titus Coin is an asset-backed cryptocurrency that is designed to solve a number of issues associated with everyday purchases using this new form of currency.

There are a number of issues currently restricting the use and wider acceptance of cryptocurrencies as a mainstream payment mechanism. These are (i) the time it takes to validate a transaction, (ii) the desire for merchants to be able to receive fiat currency, (iii) wild fluctuations in value, (iv) problems over ease of use and (v) lack of merchants.

Titus operates a SuperNode proprietary structure, developed by Titus development team led by CTO Robert Jacobsson, that allows for transactions to be validated in seconds but also maintaining a decentralised ledger system.

The Titus Coin offers the merchant to convert instantly and be settled in fiat currency or they can hold Titus Coins. A Swedish regulated entity manages this process.

A significant proportion of the funds raised will be placed in an independent fund that is managed by a third party to support a stable value of the currency. The fund is also there to provide liquidity to merchants who wish to convert their Titus Coins into fiat currency.

The Titus team have developed a simple App based system to allow all users to pay or accept Titus Coins easily. The App offers geo-tagging features for merchants to send push notifications to coin holders as well as for holders to find stores in their vicinity. Other features will be introduced in the coming months.

An army of Titus ambassadors are signing up merchants to accept the Titus Coin. As at 9th October there were over 1,300 Titus ambassadors operating in 44 countries and growing all the time. New merchants will be announced in coming weeks and the initial ones are detailed in the Titus Coin White Paper.

The ICO for Titus Coin, which uses enhanced secure Bitcoin type blockchain technology, will start on October 15 at 0900 CET and end on November 19 at 2100 CET or when 100 million coins are available to purchase. The coin will be sold in different tranches depending on demand and timeframe and run for 5 weeks. Any unsold coins will be destroyed at the end of the ICO. The escrow period for each coin will be for up to 150 days after the end of the ICO which is at the latest November 19th 2017.

The ICO is available to most countries. It is not available to people in the United States, China, Singapore or either North or South Korea.

This is an exciting advancement in the way that cryptocurrencies will be accepted in the day to day consumer experience both for online and in-store payments.

Information on the new Titus Coin ICO system is available at www.tituscoin.com A full white paper that lists information on the new currency is included.

Press contact: Kristian Sandberg kristian@titus.community