In a world rapidly embracing blockchain technology, Qoin has emerged as a pioneering force in the realm of digital currency. Touted as more than just a cryptocurrency, Qoin is revolutionizing the way transactions occur, backed by tangible goods and services. In this startup showcase, we delve into the fascinating journey of Qoin, exploring its origins, innovative features, and its vision to reshape global commerce.
Founders with a Vision
Founded in 2019 by Raj Pathak and Tony Weis, Qoin is not their first foray into the world of digital currency. Drawing from their experience with Bartercard, another Australian digital commerce company, Pathak and Weis embarked on a journey to reimagine digital currency. They acquired Bartercard in 2018, setting the stage for the birth of Qoin in 2019. Despite their deep involvement with both ventures, they have managed to steer the ship of innovation in two distinct directions. While Tony Weis spearheads the role of Governor of the Qoin Reserve, Raj Pathak leads as the Director of Sales & Leadership at Qoin.
A Trail of Achievements
Within just a month of its launch in February 2019, Qoin garnered the attention of 20 agents and over 200 merchants. The numbers kept climbing, reaching a milestone of 80 agents and more than 1,600 merchants by 2020. A testament to its potential, the value of a single Qoin surged from 15 cents at launch to an impressive 60 cents within three months. Such meteoric growth reflects the market’s growing trust in Qoin’s capabilities.
Blockchain Innovation and Tangible Backing
At the heart of Qoin’s success lies its innovative blockchain infrastructure. Built on the Quorum platform using the Byzantine Fault Tolerant consensus protocol (BFT), Qoin’s architecture ensures high transaction volumes, security, and interoperability. This robust foundation aligns with Qoin’s mission of becoming a global currency. The real game-changer, however, is Qoin’s backing by tangible goods and services. Unlike traditional cryptocurrencies, Qoin derives its value from a real-world ecosystem.
The Qoin Reserve: Nurturing Growth
Central to Qoin’s expansion strategy is the Qoin Reserve, an ecosystem fostering merchant growth through incentives and onboarding. Holding Qoins grants users access to a network of merchants, where they can trade, make purchases, and contribute to the ecosystem’s expansion. The Qoin Reserve, governed by the independent Qoin Association, adheres to Metcalfe’s law, where the currency’s value is intrinsically linked to ecosystem size.
Unprecedented Partnerships and Charitable Endeavors
Qoin’s journey is painted with strategic partnerships that extend beyond commerce. Collaborating with organizations like the Queensland Rugby Union and the Plus500 Brumbies rugby team, Qoin’s logo graced the jerseys of players, propelling its brand into the limelight. Not just limited to the sports arena, Qoin also embraced its social responsibility. Partnering with charities like Agape Outreach Inc., Qoin donated over $9,000, aiding the homeless community in New South Wales.
A Team of Innovators
Behind the scenes, an experienced team propels Qoin’s growth. With leaders like Mark Atkinson as Chief Technology Officer and Weihan Venter as Multimedia Specialist, the startup harnesses diverse expertise. Notable personalities such as John Breytenbach, Andrew Barker, and Mike Caladine contribute their sales, marketing, and training prowess.
Future-Proofing Global Commerce
In an era of rapid technological evolution, Qoin emerges as a beacon of innovation, pioneering a path toward a new dimension of digital currency. Built on a foundation of real-world value and guided by visionary leadership, Qoin’s journey is one to watch. As the world embraces digital transformation, Qoin is at the forefront, rewriting the rules of commerce.
Website: https://qoin.world/
Facebook: https://www.facebook.com/qoin.world/
LinkedIn: https://www.linkedin.com/company/qoinworld/
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