COTI 2018 in review
Taking a look back at some of our major achievements
With 2018 coming to a close and 2019 soon on the horizon, we’re taking a look back at the year with all of its exciting milestones. We’ve launched products, scored top rankings in competitions and listings, received accolades across top media channels and signed a number of notable partnerships around the globe. Read on below as we review COTI in 2018.
Our early beginnings…
As you all may know, when we founded COTI back in early 2017, we aimed to create a decentralized payment app to solve the shortcomings of traditional and digital payment systems. After several months of research, we realized that blockchain in its current form was an inadequate tool to take current payment systems to the next level. In an ingenious move, we decided to build our own version of the blockchain by implementing DAG as the base layer, as well as a novel Trustchain consensus protocol based on proof of trust. We understood this was a moon shot and set about recruiting a dream team to optimize our technological solution for global payment networks that would solve the challenges of scalability, high fees and lack of buyer-seller protections.
The upcoming months were a whirlwind as our R&D team was hard at work to advance our technological protocol. By the time September 2018 rolled around, we had a huge win with the launch of our Trustchain AlphaNet and release of our code on GitHub. COTI Pay, our first payment app, along with our currency exchange COTI-X will also be going live in the next few weeks.
Building a viable blockchain 3.0 solution optimized for decentralized payment networks, merchants and stable coins is no easy feat, but we’ve been so lucky to have the support of our community, backers and advisors. We were honored to win first place at the Google-sponsored Pick a Startup competition, as well as first place in Ian Balina’s pitch competition during his Crypto World Tour in Tel Aviv. We have also been reviewed and ranked by multiple influencers from Top 7 ICO lists.
COTI quickly gains exposure
So what did they have to say? Forbes reports that blockchain-based payment systems like COTI have opened up new alternatives to how consumer payments are conceptualized. Instead of taking three working days to clear money between accounts, now it can be done instantly. As for YAHOO! FINANCE, they’ve slated COTI as the first viable solution of its kind, creating a working proof of trust (PoT) blockchain consensus system built on DAG.
Moreover, we had the chance to chat with Greg Kidd, the former CRO at Ripple Labs, in an exclusive webinar and held a meetup with Advanced Blockchain AG in the crypto hub of Berlin, covering key innovations of our Trustchain protocol. We also recently hosted Cardano, the leaders in blockchain and cryptocurrency, in an action-packed event in Tel Aviv looking at ways to unlock the future of blockchain and tech.
Adding to the momentum, 2018 was a year of noteworthy partnerships with payment processors like Processing.com, top remittance companies such as Millenning, as well as the biggest Pundi X competitor and countless others.
We also had the opportunity to attend a number of well-known conferences around the globe, including the Japan Blockchain conference, Singapore Fintech Festival as part of the Israeli Delegation, Beyond Blocks Summit Seoul, CDAD in Vietnam, Consensus Singapore, and many other events.
Coming up for 2019…
We’re moving full speed ahead as our TestNet is quickly approaching, along with our main net debut in Q1 2019. Some of our key innovations that have made this all possible include our Trustchain consensus, Proof of Trust (PoT) consensus and algorithm and our Arbitration System to handle buyer-seller disputes. TestNet exclusive innovations include the Trust Score Node algorithm, multiDAGs, on-chain smart contracts, one-click payments, a stable coin framework and much more.
Lastly, a closing message from our CEO Shahaf Bar-Geffen:
“2018 has been unbelievable since coming on board as COTI’s CEO. I’d like to thank the entire COTI team, advisors, partners and backers, as well as all of our supporters who have been with us since the beginning. Together we are working towards making the COTI vision a reality. With 2018 behind our backs, the proof is in the pudding with the milestones we’ve ticked off to date, and it’s only looking forward from here. From the COTI family to yours, we wish you the happiest holiday and new year to come!”