COTI Business Development Update

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COTI

6 min readApr 18, 2023

Part of COTI’s core business model involves building bespoke token based payment solutions and on-chain loyalty systems for enterprises. COTI is also engaging in various initiatives with enterprises around the world to explore where blockchain best fits their strategy and how COTI can help them achieve their goals. In this update, we’ll detail some of our ongoing global engagements, review some of the systems developed and share names where such names can be disclosed at this stage.

Rudder Consultancy

Rudder Consultancy is a specialized boutique consultancy firm based in Bahrain, focusing on assisting clients in the adoption of Web3 technologies and leveraging its innovative capabilities to enhance their business operations. Rudder’s ultimate goal is to provide guidance and support to businesses and institutions seeking to incorporate Web3 technologies into their operations, positioning them as leaders in future markets. With their expertise in the domain, they aim to enable their clients to harness the full potential of this cutting-edge technology to achieve their business objectives and stay ahead of the competition.

Despite only forming in 2022, Rudder Consultancy has already amassed a large number of high-profile partners and clients including Binance, Ancore Strategy and the Economic Development Board of Bahrain.

This gives Rudder Consultancy access to a truly global user base in the tens of millions of people.

COTI and Rudder Consultancy were first introduced at the #connect2innovate conference held in Bahrain in March 2023. COTI had been selected by Start-up Nation Central to present at the conference and the assignment came with some exciting opportunities. This includes a signed partnership between COTI and Rudder Consultancy.

COTI will be partnering with Rudder Consultancy to develop a unique solution to address the ongoing challenges faced by the music industry in tracking royalties, particularly in the Middle East and North Africa (MENA) region. The collaboration aims to create an innovative solution that utilizes COTI’s Trustchain technology as the underlying protocol for tracking and distributing music royalties in a more seamless and transparent way than the traditional systems we currently have.

Major Company in the Gaming Industry

For non-disclosure reasons, we are unable to reveal the name of the enterprise in this agreement at this time. What we can say is that this enterprise is one of the biggest online gaming companies in the world. With about 1 million users per year, they bring in hundreds of millions of dollars every year. Even greater, they have many franchises and daughter companies which are all poised to adopt the technology if it can be proven at scale.

As part of this agreement, we’ve been developing a Private Payment Network (PPN) that our partner can deploy on top of their existing infrastructure. Due for completion by the end of the year, this PPN will allow our partner to establish and manage their own blockchain-based payment system within their environment.

While this particular PPN is a bespoke product that has been customized for our partner, the platform itself is something we have developed in advance, knowing it can be tailored to a wide range of customers.

This PPN will include a branded CMD token on top of COTI’s Trustchain that is pegged to a local fiat currency. Up to 1 million users would use this new token to pay for services within the environment. While one token will be deployed at launch, there are plans to expand this to up to 5, all pegged to different fiat currencies.

COTI’s PPN and the generation of their own branded payment tokens on top of COTI’s Trustchain will provide our enterprise partner with a list of benefits that really can’t be understated. Our network allows a streamlining of operational costs as well as the ability to penetrate emerging markets that don’t have the traditional financial infrastructure. It provides an efficient vehicle to grow your company while still maintaining a bird’s eye view of your businesses finances and operations.

This PPN also includes a powerful back-end administrative platform that has the following abilities:

Accept payments across a variety of blockchains thanks to COTI’s Bridge 2.0 technology.
Generate and control the circulating supply of the payment token.
Monitor, accept, reject, and refund payments in real-time across multiple blockchains.

Once launched, the enterprise will pay Native $COTI for all network transactions including deposits, withdrawals, and transfers to cover the cost of performing actions via the crypto gateway platform. This will not only provide a steady stream of revenue for COTI, but Treasury participants will also receive APY benefits from the increase of fees flowing into the Treasury.

Partnerships in Discussion

Agoda (booking.com)

Last year, COTI signed a research MOU with Agoda, a subsidiary of Booking Holdings — one of the largest travel agencies in the world. Agoda is considered one of Asia’s leading travel-tech companies with millions of registered customers, selling holiday packages to over 200 countries around the world.

While an NDA prevents us from revealing the specific details of the MOU and the solutions being discussed, we are excited about the scope of this project.

Despite there being an immense potential in such a partnership, we believe that current market conditions make such a partnership less feasible in the near future. We remain in touch and will update when possible.

Major Israeli Bank (Name Undisclosed)

COTI is currently in discussions with one of Israel’s biggest commercial banks over performing a pilot as a preliminary stage for the possible launch of a stablecoin pegged to Israel’s local currency (NIS). If launched, this stablecoin would eventually serve as a major form of payment currency in Israel’s economy. As you can appreciate, this project is potentially the first Israeli stablecoin ever commissioned, so the process will take time. We’ll provide further updates as the discussions progress.

IT Outsourcing Firm (Name Undisclosed)

One potential partnership we have identified lies with an undisclosed, US-based IT Outsourcing and software development firm. As part of a recently signed MOU, COTI will look to integrate blockchain into this company’s CRM. Using COTI’s infrastructure, this company will be able to offer loyalty token solutions to their many clients around the world.

Major Israeli Medical Institution (Name Undisclosed)

Consistently voted as one of the best healthcare facilities in not just the Middle East, but in the whole world, our final potential partnership is a major Israeli medical institution. Treating more than 1.5 million patients per year, this hospital employs thousands of healthcare professionals including doctors, surgeons, nurses and support staff.

In addition to its robust healthcare services, this institution also conducts research and clinical trials in collaboration with universities and other leading hospitals around the world.

COTI is currently exploring several solutions with the hospital that can potentially add efficiencies to their operations. One of these solutions is a decentralized network that can be used to collaborate on specific research applications. Colleagues and research partners from other institutions will be able to participate and contribute to complex projects. Another initiative examined is a private payment network (PPN) that can be utilized by both hospital staff and patients.

We are in frequent discussions with a large number of institutions and businesses from a wide range of industries. Amongst the notable partnerships we have listed above, we also have several more in the early stages of discussion. These include a Middle Eastern bank and an Asian e-commerce business amongst others.

We will provide progress of these partnerships in later updates.

Summary

Behind the scenes, COTI’s Business Development team has been busy exploring opportunities and developing relationships with a field of innovative enterprises. Despite the diverse nature of these businesses and the industries they work in, there is a strong demand for the technology we’ve been developing over the past few years. We’re able to deploy customized PPNs that not only solve a myriad of operational problems, but they can save businesses real money at the same time.

We’re excited to see what these new partnerships can do for the growth of COTI and we’ll provide updates as these partnerships progress and more are added to the list.