MARCH / APRIL 2018
Digitize
Enabling the Mainstream Adoption of Cryptocurrencies Through the Conversion of Loose Change
Digitize is implementing an ecosystem which will provide users with a digital wallet and allow them to save their loose change and cash digitally, at the point of a transaction. The Digitize ecosystem will prevent the need to carry loose-change and promote the transition from a cashbased society to a digital-based society. This is the future of money as we know it in the new digital-crypto revolution. Reductions in the manufacturby ing of physical currency will be noticeaJAMES SOWERS ble, as well as reducing the cost to produce and the amount of change lost. Additionally, the Digitize ecosystem would further strengthen the cryptocurrency market by bringing an additional revenue stream into cryptocurrencies through loose change. Although most of the western world is adopting digital payments, many developing nations are still widely run on cash transactions. Digitize aims to assist in the transition of cash into digital wallets; they will target the South Asian markets where cash transactions are dominant, with an aim to assist in the transition towards digital wallets. 10
The Digitize platform will be readily available via a mobile application which can be downloaded by virtually anyone. Digitize will offer a range of online tutorials and manuals for the public to view and understand the operation of the application and platform. The new savings digitize tokens can be used as payments to registered retailers, used to exchange into other crypto-
currencies, invest into the crypto-index or withdraw for local currencies. With the increased number of governments and central banks wanting to digitize their national currencies, it reinforces the disadvantages of physical currencies and the wide-scale benefits of digital currencies. One of the critical factors in moving away from physi-