Merchants line up to accept new crypto currency, Titus Coin, as payment

Even before Titus Coin is officially launched, a number of merchants have approached Titus to be able to accept Titus Coins as payment for their goods and services.

"This is an incredibly exciting situation for us", the CTO of Titus Invest, Mr. Robert Jacobsson, replies. "We open our ICO on October 15th and already the merchants are lining up to use our services. That is incredible", he says.

The Titus Coin is a digital currency, a so called crypto currency, based on the same type of blockchain technology as the more famous BitCoin.

Titus Coin is created to make it easier for people to use the coin when they make their purchases, whether that is a cup of coffee or shopping online. To achieve that several of the more problematic issues related to the use of i.e. BitCoin has been overcome in the Titus Coin development.

- Titus Coin is backed by EUR which means that the shop will receive instant conversion to their traditional currency if the wish.

- Transactions are instant which makes it possible to pay over the counter while digital currencies traditionally have had a long transaction time, up to 70 minutes before a transaction is cleared.

- The risk of losing value because of digital currencies fluctuating values versus EUR or other fiat currencies is overcome by having the Titus Coin backed by EUR and the merchant will receive instant conversion to EUR if they choose.

In addition Titus has established a community where thousands of people are educated and ready to start informing merchants all over the world about the benefits of accepting Titus Coin payments.

"We have several development projects which are still not released", Mr. Jacobsson says. "Our focus is that we shall develop apps and tools that are so intuitive that anybody will be able to use Titus Coin, even those with very limited technical knowledge".

Titus Coin is entering into an ICO, a crowdfunding project, from October 15th to November 19th.

"We have received very good feedback from the technical people globally, who are experts on digital currencies, now we are excited to see the reaction from the avergae people. These are important to us as these will be our future customers," Mr. Jacobsson says.