How to USE Token in Industrial Internet of Things on Blockchain
International company providing high-margin services, usually do not pay attention to the fee and speed of payments. If the payment is late they can easily apply to court to recover the debt. Though if the payment is only $1–2, and not often, what do we do? Then the fee become significant, and the speed and commitment of payment is critical.
Although we have alternative way. The company IIoT Telecom issues its own crypto currency I2, which will be accepted as the only one payment for Services provided by IIoT Platform. This is the same cryptocurrency, from which company plans to get financing from the ICO (initial coin offering).
Cryptocurrency payments will be made as simple as possible — between cryptocurrency Client’s wallet and cryptocurrency wallet IIoT Platform. The debiting will be done automatically, for services provided, on the basis of smart contracts.
The principle of operation of the smart contract is following. The Partners have signed a smart contract, using the same method’s signature to send funds in the current cryptocurrency networks. After signing the agreement the smart-contract becomes valid. Smart contracts exist only within the environment with unhindered access of executable code to the smart object of the contract — cryptocurrency I2, released IIoT Telecom. All terms of the contract have a mathematical description and clear logic execution. In this regard, the first smart contracts have the task of formalizing the most simple relationship, consisting of a small number of conditions. Having unimpeded access to the objects of the contract, smart-contract monitors these requirements for the achievement or violation of the paragraphs and make decisions based on programmed conditions. Thus, the basic principle of the smart contract is the complete automation and reliability of fulfillment of contractual relations between people. For example, unconditional payment for services provided.
The client, if he wants to pay for our services, should buy I2crypto on the crypto currency exchange. Investors or holders of I2 currency, obviously sell. The rate of I2 will be set by the crypto currency exchange.
IIoT Telecom will burn 50% of recevied I2 for 5 years, and 50% I2 will be sold on Cryptocurency Exchange. This will reduce the number of tokens and increase their cost.
The price for our Services will be recalculated in the equivalent of Fiat currency of the state/city, where our services will provide. Thus we will provide on the one hand, the continued value of our services to the Client in the Fiat currency. On the other hand will provide easy of payments by using our own I2 cryptocurrency. Third — we will provide sustainable demand for our cryptocurrency I2 that protect the interests of our Investors.
I2 cryptocurrency will be released in a limited volume and additional issue is never planned. The volume of I2 will be deficient at start that will create an increased demand for I2 on the crypto currency exchange.
On the one hand, the higher the rate of our currency, the lower will demand, because the cost of services is recalculated in the Fiat rates. On the other — growing number of Clients will ensure increased demand and the initial limit of the number of issued tokens in some moments will create an excessive demand.
According to our calculations, it will provide a steady growth of our cryptocurrency for several years — even more precisely over those years, when the market of the Internet of Things (IoT) is growing and the number of connected Clients is growing too.
Why IIoT Telecom uses only its own cryptocurrency for payment?
The answer is obvious — we can directly influence on the course and capitalization. Our Customers and our Investors balance the ratio of supply and demand. And the effectiveness of our Company (or, as is it possible — an economic downturn) affect the amount of supply and demand. For other cryptocurrencies and Fiat money we have no influence.
So why bother, isn’t it better to pay in Fiat currency?
At first glance, it seems so. But on the other hand. First, working worldwide in different countries, each Client once a month, in his currency should do not very quick payment to another country. It is very often necessary to go to the Bank to present them a service agreement as the basis for payment. Yes, and remember every month about payment. Such transfers are not fast. Secondly, do not forget about the commission — it is not small. If you pay in a month 2,5$ for a few of the sensors — the commission is very substantial.
We offer a more simple way. In two clicks — on a crypto currency exchange buy our currency. Through smart contracts automatic payment without any fees!
The primary use the I2 cryptocoins of the company “ IIoT Telecom “– automatic instant payment for services by the Client with IIoT-based smart contracts for the transfer of data sensors in the IIoT Plarform. The so-called interaction M2M (Machine To Machine), but supplemented by a system of payment.
What it gives?
1. The capacity of the market of the Internet of Things at the end of 2025–85 billion devices worldwide. So the potential growth of subscribers and the required coins are simply endless at the moment (2018).
2. The IIoT customers will buy our I2 Coins on the crypto currency exchange if they want to pay for our IIoT Plarform services. The Investors and the Company “Telecom IIoT” — will sell;
3. We are interested in maintaining the rate of our currency, because we do receive it payment. Accordingly, we are most interested in the growth of the value of our currency.
4. Due to the huge number of connected devices to the IIoT will be a high turnover of our I2 Coins;
5. Due to the high turnover I2 Coins and the growth of the IIoT Company the course I2 Coins will inevitably increase.
6. Additionally, we will pay a lifelong compensation to any person in I2 Coins, what will leed the Client to our IIoT Plarform. The remuneration will be paid in the amount of 5% of monthly Customer payments and will be paid as long as the Customer pays for the service.
We started 2th Stage Token Distribution on March 19, 2018!
Visit https://iiot.tel for more information. WP: https://iiot.tel/wp-iiot.pdf
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