Integrative Wallet : Whitepaper
Our proposal is the creation of an ecosystem which will consist of 3 products, our integrative wallet, a multiwallet, which feature will be to hold all the cryptocurrencies that are in circulation, being able to send and receive coins/tokens from the wallet to another user. The other product will be the Integrative ATMs, we want to deploy ATMs all around the world, in capital cities first, and later in different strategic cities, allowing everybody to access them, this ATMs are intended to be beneficial for the user, specially for less developed countries like the Southern Americans, where buying and selling of cryptocurrencies is hard for the user, allowing everybody an easy option to buy or sell cryptocurrencies. Our last product will be our own debit card, the integrative card, which will be connected to each users wallet, easy to configure from the wallet software, allowing an user to spend the desired cryptocurrency when making a payment with it. We believe this products would allow us to integrate cryptocurrencies to the everyday life of the user, making it easy for one to buy a desired coin/token, spend their cryptocurrencies as they want to, or even control your holdings from your phone. 2.1. The integrative wallet The integrative wallet, will be intended to hold all the available cryptocurrencies/tokens that are on the market, the user will be able to directly import private keys of their addresses, or to create new addresses directly from the wallet. Regarding security of the wallet, wallets will be json files, containing private keys completely encrypted, so when our server is reached by a wallet, it will appear as a Base64 string, meaning we will not be able to view your balance, addresses or make any transactions. This also means that any attack that we would receive on our server would be worthless since the attacker would see random Base64 string which could not be decrypted, storing all private keys safe. The wallet, will be accessed with an account previously created by the user, this account will be then the one that holds each of its own private keys for each of the different coins/tokens it may possess. The UI of the wallet will be configurable to show the desired coins/tokens to show, additional features like coin/token to USD or BTC price will be available, this data will be obtained from coinmarketcap. After the first public release of the Wallet, a mobile wallet will be developed, which will have the same features as the desktop one. At a further stage of the development of our project, when our debit card has been launched, we will add configurable options to the wallet related to the card, if the users wants to activate it. This options will be configuring a maximum amount that can be spent using the card, which coin/token to be exchanged to USD or your local currency,when the card is used.The automatic exchange will be held by us, where we will receive the coins/tokens used, and transform them to USD which is sent to the shop, this coins/tokens are later sold on the market to cover for the USD send.
- Our objective
We highly believe cryptocurrencies will keep gaining the place they deserve and start to be used more frequently, for everyday transactions all across the world, used just as a payment for a service like buying something at a supermarket, making a high net worth transaction between two entities or just for sending some money from you to a friend or a family member who might be in another city. Our main objective is to integrate cryptocurrencies into the everyday use of people, making them easy to buy, hold, spend or sell, making this operations cheaper, safer and decentralized.
-The integrative ATMs With the ATMs we will offer users an easy access to the buying and selling of cryptocurrencies. We are gonna work with a Bitcoin ATMs manufacturer, who already manufacture 2-way bitcoin ATMs supporting Bitcoin, Litecoin and Dogecoin and will add the rest of the altcoins and tokens of the market, this ATMs will be integrated with our card, allowing users to use them as cashiers and make monetary extractions on their local currency. 2.3. The integrative card 4 A fee of 2%, will be charged on every transaction made on the ATMs, this fees will go towards the company holdings, the usage of this fees is explained on the “Token Mechanism Section”. 2.3. The integrative card The Integrative Card, will be intended to be normal debit card. Transactions will be carried and recorded on the blockchain. The decentralized blockchain will keep all data secure due to the general consensus of the nodes, which means data can not be taken down as long as the blockchain continues. The inalterability and openness of the blockchain will also assure the users that transactions can not be modified and are open for the public to be seen at the blockchain. A fee of 1.5% will be charged which will be used for the following purposes, a small portion will be used to cover for transaction costs. The rest of it will be stored as profits at the main holdings company to be later distributed to token holders.
Full Complete LINK : https://www.iwtoken.com
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