Foreword

The Qoin mission is to enable a global commercial digital currency that empowers millions of Sellers to trade their goods & services with Buyers around the world.

Most businesses have some spare capacity to accept new customers. We tokenise this spare capacity in the form of the Qoin digital currency. Participating merchants in the ecosystem accept Qoin from customers as payment for their goods and services.

This White Paper describes our plans and progress made towards opening the world’s largest private merchant trading ecosystem to the public on a distributed blockchain and smart contract platform. This new cryptocurrency, backed by participating merchant’s supply of goods and services, allows innovative ways for merchants to attract shoppers. Qoin is built on the latest Smartcoin, Tokenscript and Distributed Ledger Technology.

Simply put, Qoin is all about bringing together Buyers and Sellers through the tokenisation of the spare capacity in each business.

Problem Statement

Globalisation, trade wars and giant corporates continue to make it difficult for smaller businesses to compete for capital, technology and customers. Business owners represent only 6% (500 million) of the global population, however they represent over 90% of all businesses.

All over the world, people prefer to support their local business communities, but the merchants often lack sophisticated payments, loyalty and rewards programs to compete with their larger corporate rivals. Per the Reserve Bank of Australia most businesses have an average spare capacity for extra sales and customers in their business of 25 – 35%. This economic and commercial loss is usually caused by a lack of marketing budget to attract more customers. No crypto project has yet been able to successfully tokenise this spare capacity on a global scale.

Blockchains and cryptocurrencies have several unique properties that may solve some of the challenges of attracting customers on a global scale to fill this 25 – 35% spare capacity. These include a secure global payments and rewards currency linked to a robust marketplace for buyers and sellers to trade their goods and services as well as their currency.

The existing blockchain systems have yet to achieve mainstream acceptance due to their infancy, volatility, scalability and regulatory uncertainties, and this has made the overwhelming majority blockchains and cryptocurrencies weak stores of value and mediums of exchange. We believe by collaborating with the financial regulatory sector and innovating with leading technology providers, we can deliver a secure, trusted and sustainable commerce ecosystem.

Many blockchain and crypto projects have good technology however fail on execution, as they do not have access to merchants. In most instances they lack the real-world sales experience and trusted credibility to sign-up, onboard and manage merchants. It is this merchant ecosystem of goods and services that forms the backbone for the successful deployment of a global utility cryptocurrency.

The Opportunity

We believe in the future of local commerce and the benefits of convenience to the local community. Great prosperity for all can be created when the community supports their local businesses. Qoin already have access to the world’s largest centralised private B2B merchant ecosystem exceeding 21,000 merchants and 40,000 cardholders across 4 countries. This B2B ecosystem forms a ready nucleus open to the public and able to rapidly expand globally.

We will expand this digital ecosystem of commerce between local entrepreneurs and buyers, and we share our beliefs with you:

• That many more people or buyers should have easy access to acquire global currency and be rewarded when they spend it
• That many more merchants and sellers should have easy access to payment services, rewards systems and marketing programs
• That a global, open, instant, and low-cost movement of money will create unprecedented opportunity and prosperity
• That the ability for merchants and sellers to leverage their spare capacity will empower them to more effectively combat large multinational corporations
• That the global currency should be governed as a public good
• That all participants in the commerce ecosystem between buyers and sellers must continuously uphold its integrity.

The potential spare capacity to be tokenised in the first targeted 10 million SMEs is estimated at US$1.0 Trillion per annum.