Crypto Credit Card aims to reshape many of our daily financial activities with blockchain technology. In this Q&A, the firm explains the structure of the credit eco-system it is set to offer, and why it makes sense to have payments, credit card, and micro-lending under a single token economy.
What is the benefit for investors in Crypto Credit Card Tokens, regardless of any future worth as an asset?
We offer an innovative product to the market. The growth of cryptocurrency price index will help to ensure almost non-interest-bearing use of credit funds.
Crypto credits are credits in fiats supported by cryptocurrency on C3 account, which assure the lowest interest rate, allow to release funds from cryptocurrency to fiats for paying bills, and simultaneously earn profits from the cryptocurrency pledged by using trust management services.
Our platform also allows microloans, enabling investors to choose the optimal solution for a client without going through any additional credit solvency investigations.
Why is an Initial Coin Offering the most relevant way of fundraising for your business?
The implementation of the project will simplify the management of cash, including cryptocurrencies, in one convenient payment system and will provide an opportunity to select the most balanced credit product and invest in cryptocurrencies, ICOs or trade on the global investment platforms.
Decentralized principle ensures the highest level of protection and transparency of the platform. This should enable us to cooperate with banks and customers on the basis of smart contracts which reduce costs, accelerate the launch of new credit products and reduce the time of processing information and making decisions.
Our team brings to the table vast experience with similar projects, which enables us to ensure the platform’s access to the top exchanges. We will be able to provide access to the largest crypto exchanges, crypto funds and investment funds in the shortest time frames.
What security/validation means for their funds can investors expect?
- The expansion of the user base can create a growing demand for the token
- All unsold tokens will be eliminated
- Team tokens will be held in escrow for six months
- Bounty and referral tokens will be bought back before hitting exchange — our marketing supporters will have an opportunity to cash out after the end of ICO.
Since the CCCR tokens are not considered securities in any jurisdiction or akin to shares or promissory notes, and the C3 project does not guarantee payment of dividends, profit, or any passive income to CCCR token holders, the token buyback is not of the urgent interest. This issue will be considered by the company after the ICO conclusion, in tandem with other business needs.
It should be noted that currently, the company does not provide any guarantees or assurances of any kind concerning a possible buyback of tokens. After the completion of the ICO, it will be possible to use C3 products and services paying with CCCR tokens, which eliminates the need to redeem tokens.
What are your plans for the day after the crowdsale?
The beta release is scheduled to be ready in March 2018, starting a full-scale examination and implementation of the platform.
Further down the road, we plan to obtain the status of a payment system and then to get a bank license in Switzerland. The company plans to make an additional investment in the development of the C3 Platform and user acquisition.
After receiving a payment system license, our plan is to open a correspondent account in a bank with a long-term rating of at least A+, which will ensure safety of funds, processing payments, as well as issuing our own plastic cards.
We plan to introduce a customer service and support, to allow potential clients to have a better understanding of the various functions of our the platform.
Another important aspect for us the months to come is hiring and expansion. In order to implement the project, we will need experts in banking, programming, and technology. The management brings to the table over 15 years of experience in the development and sales of credit products, and the team includes experienced IT-developers.
We also plan to expand the number of credit alternatives (including crypto-credit and micro-credit) for our clients. We cooperate with banks to attract credit offers at the international level. We envision the integration of C3 into all major retail chains, supermarkets, and stores, for initiating joint affiliate cashback programs.
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