Cowrie2Cowrium
Title look so tiny???But, don’t worry i wont waste your time.Today’s blog will effectively interesting to know origin of cowrium.I will explain more details on next blogs,but today i will review underlying of this project.
To understand mentioned project, we have to go back to the old days.Where calculation and valuation are made through barter.People can buy goods in exchange of another.Then after people use cowrie shell as a unit,that also not sustain any more.Again it leads to creation of leather notes,which was the first paper note.Eventually,leather notes also transform to paper notes and the official currencies.
Currencies can possess storing value.Abstractedly only exchangable.But, they don’t hold any intrinsic/actual value.In the beginning it was good,but later people concern certain problems.Govt, own the authority of printing the fiat currencies.Possibly can generate hyperinflation.And there also seen lot of cases,those are terrible.
So here digital transformation of transaction starts on electronic based.Later paypal made complete revolution to this transformation after all.Bank also supports electronic transfer and become the trustworthy intermediaries.Here an issue arise i.e. double spending problem.This defines ,the amount used in a transaction can be copied and spent again.Since digital cash contains digital file so that can copied and duplicate.So there was a demand of an alternative form of money and borne cryptographic form of money i.e. ‘cryptocurrency’.
This is ‘how cryptocurrency was created?’. So here question will be arise why cowrium?Let me answer.
When credit and debit cards offer a discount people like to use them.So watching massive usage,some providers charges a processing fee and that was vary between under 5%.So it may be the barrier for SMEs.
Now fraud claiming of chargeback are commonly seen. Here charge back means credit card holders can claim that either his information is used by other or some fraud transaction occurs by suspiciously against a merchant.Although here merchant has the right to contest card users accusations,but he has to paid if card user win in the judgment.This procedure implies a waste of time and money for merchant.So merchant look for an alternative.May be blockchain can be the alternative.So this was the beginning of cowrium generation.
Cowrium is the simple, multi-featured,decentralized, blockchain based crypto solution to empower SMEs and helpful to their payment system for secure and better transaction as possible as through well developed technique.
So this is the whole history of creation of blockchain from cowrie shells. Whenever there is a problem arise there is a solution made.Eventually payment system become multifaceted ,simple,speed,low cost and secure.It saves our time and money.So this is was the whole digital transformation of cowrie shells to cowrium.Hope this article help to know you the reason behind generation of cowrium project. For more details you have to check out for my next blog.
Some link of ‘cowrium’ for more information:
- Whitepaper: https://www.cowrium.net/cowrium-whitepaper.pdf
- Facebook: https://www.facebook.com/cowrium/
- Twitter: https://twitter.com/cowrium/
- Medium: https://medium.com/@cowrietoken
‘’ The information provided in the above content is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.’’
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