What Is Crypterium and CRPT ?

By Olasupo Okunaiya
CRPT in its simplest definition is a cryptocurrency that enables individuals who have other forms of cryptocurrency e.g Bitcoin, Litecoin, Ethereum etc to spend their cryptocurrencies in the real world, as though they are spending fiat money (fiat money is the regular currencies we are all used to e.g US dollars, Pounds, Euro etc)

With CRPT, any individual who has Bitcoin, Ethereum, Litecoin and other cryptocurrencies with high liquidity can walk up to a starbucks shop to buy a cup of coffee, and pay with the cryptocurrency they possess. Similarly, the individual can pay using their cryptocurrency with any merchant that accepts NFC payment.

Crypterium is the name of the company that has made it possible for cryptocurrency owners to spend their cryptocurrencies in the real world. It has its headquarter in Talin, Estonia. Its founders are :

Steven Polyak - He is the managing director and co-founder with more than 10 years of experience in capital markets

Austin Kimm - IR Director and co-founder who is an experienced CEO and an international financial services strategist who has created and managed companies all over the world including Renaissance Insurance group, Russia.

Gleb Markov - is the COO and co-founder. He is a certified fintech expert with over 7 years experience in law and regulations in most significant jurisdictions in the world.

Vladimir Gorbunov - is the CCO and co-founder and an internet entrepreneur with extensive management experience for more than 10 years. He has founded 5 companies with total market capitalization of over $150 million including Workle and PayQR.

Reference - https://goo.gl/zHeo1E

In our next writeup, we will talk about How CRPT works...Stay tuned.

Comments

Post a Comment

Popular posts from this blog

A GUIDE ON HOW TO TRANSFER YOUR CRPTs TO YOUR CRYPTERIUM WALLET

By Olasupo Okunaiya
Image
After the Crypterium ICO which saw about 67,000 buyers of the CRPT tokens, the Crypterium team requested buyers to withdraw their CRPT tokens from its website. Majority users moved their tokens to a MEW (MyEtherWallet) address and have since not moved it out. Today, the Crypterium team have developed its app which currently has the functionality of a wallet. (among other things). The wallet's security is strong and meets the most current security requirements for mobile banks. Private keys are not stored within the app, thus making it absolutely impossible for phone hackers to gain access to them. Also, all database information are backed up on regularly basis, thereby making it difficult to loose vital information as a result of system crash or malfunction. Users are also required to enter secret pins (like password) in order for them to gain access into the app. Recently, the team shared the news of an upcoming update which will further reinforce the security of the app. Tha
Read more

CRYPTERIUM'S MOBILE TOP UP SERVICE

By Olasupo Okunaiya
Image
Beginning July 22, 2018, beta testers started receiving emails to test Crypterium's mobile top up service. This has seen about 200 testers go through the KYC1 verification process after which they have had the opportunity to test the top up service. There has been quite a number of positive feedbacks from the testers who have shown so much excitement in the outcome of the tests. We have captured a few of the feedbacks given on the Telegram group by some of the testers below: A techie tester, Aires Mendes, went an extra mile to do a video of the top up process. This gives us a good feel of how swift the top-up process is.  As expected of any beta test, there were a number of negative feedback as well. These were mainly around KYC1 application approvals.  We understand that the team have started working on making the KYC1 process smoother (b ased on the feedback from the community) . Part of the steps taken is ensuring that users immediately get emails in
Read more

Crypterium's 1000 Transactions Per Second Speed - Our Opinion

By Olasupo Okunaiya
In the recent AMA with the CCO, Vladimir Gorbunov, it was revealed that Crypterium has built an infrastructure which is currently capable of processing up to 1000 transactions per second...and promise to have that increased in the nearest future. We will do a comparism of the transaction speed of Crypterium with other payment technologies and crypto payment methods, in an attempt to understand the importance of this piece of information from Vladimir. BITCOIN - Due to the limitation of the bitcoin block to 1Mb, the average number of transactions that can be processed per second is just 7. This is too slow to be deployed as a global payment solution on its own, as it would mean people will need to take queues just to have their transcations processed. ETHEREUM - is a little faster at 20 transactions per second. However, this in itself, just like Bitcoin is not an efficient payment solution. PAYPAL - This is about 10 times the speed of ethereum at 193 transactions per second. Al
Read more