Why Tokes (TKS)? Why does Multichain Ventures have a token?
Why not Bitcoin?
There are several benefits to using Tokes (TKS) over Bitcoin or another cryptocurrency for consumer payments. Tokes (TKS) transactions settle on the network in several seconds on average, and cost less than 1 cent per transaction regardless of the full dollar value of the transaction (Bitcoin costs more per transaction). Also, businesses using our technology completely avoid paying the standard 2-3% interchange fees for processing typical on credit card networks.
While Multichain Ventures advocates for Bitcoin and other cryptocurrency adoption, it is important to remember that Bitcoin is a protocol, not a company. Multichain Ventures however, is a business, but also part of the larger socioeconomic movement of cryptocurrency. By targeting multiple industries, including one with a banking problem (cannabis), Multichain Ventures is taking cryptocurrency technology and producing easy-to-use solutions that solve specific merchant requirements. While development of user friendly software is key to adoption, Multichain Ventures is targeting and deploying the software directly with vendors. Bitcoin has no such set of advocates pounding the pavement to garner adoption.
In the case of legal cannabis via the Tokes Platform, the token is transactional within dispensaries. Due to the federal prohibition of cannabis, decriminalized cannabis sales are only legal at the state level of government. Because of this federal illegality, most cannabis businesses do not have access to banking, resulting in cash-only businesses. This banking prohibition makes deployment of the Merchant Gateway software with Tokes as a native payment option for consumer to business, business to business, and business to state.
What is Multichain Ventures doing to garner adoption of its products and token?
Multichain Ventures has a multifaceted approach to garner adoption of our products and services, including whitelabel and licensing opportunities, government and legislative efforts, and direct to consumer acquisition. Strategic partnerships and licensing is key to our efforts, and we regularly entertain engagements with interested parties.
Cryptocurrency adoption by merchants and consumers is growing but still at an early phase of adoption. While our products function as stand-alone offerings to serve merchants and businesses both large and small, much of our technology can readily be implemented into an existing software platform (e.g., cryptocurrency payment processing and settlement features tied into a partner’s point-of-sale, or linking supply chain data to the EDEN blockchain).
Many of our services can be white-labeled and offered to an existing business's customer base. For example, the Merchant Gateway provides a unique opportunity for others in the cryptocurrency space (e.g., exchanges, wallet providers) to add merchant processing with ecommerce and point-of-sale features to their repertoire.
As payment solutions are still needed for the legal cannabis industry, there are unique and exciting inroads through state legislative efforts that we have undertaken to garner support and state integrations for our payment solutions (for example, see Nevada’s AB466; a state sponsored pilot program for digital cannabis payments, of which Tokes Platform will likely be a participant). Efforts like these serve a particular niche, however in deploying for the edge case we demonstrate the general utility and feasibility of cryptocurrency based payment solutions for day to day adoption.
Blockchain & Technical Specs?
1) What blockchain does the Tokes token use?
Tokes (TKS) is a Waves based token. While we recognize the appeal of using Ethereum for launching blockchain based tokens, Waves provides specific features that directly appeal to our core aims. First, Waves is one of the fastest transactional tokens to date, with payments typically settling in a matter of seconds. Additionally, Waves has smart contract functionality making features like token lock-up periods accessible. Unlike Ethereum, network fees can be paid in the native token (TKS) rather than requiring gas to be spent to move an asset.
2) What other technology does Multichain Ventures leverage for products and services?
In its current build, EDEN leverages open source solutions tied with the Ethereum network in order to collect event data around objects within supply chains. Subsequent releases will have standalone deployments available for permission based private use.
All of our merchant processing applications are built in the React framework - making them platform agnostic, meaning they can be run on desktops, tablets, and mobile devices without a specific hardware requirement, making these apps particularly nimble in their deployment for customers.
Lastly, all of our services are hosted via Reli.Cloud, with containerized, highly available, highly scalable cloud based infrastructure.
How to use
1) How do I use the Merchant Processing tools?
Anyone can try out the Tokes Platform branded point-of-sale version of our Merchant Gateway software today at Gateway.tokesplatform.org. After completing the signup process - users can configure their receiving wallet address, add their first product, and process a sale using their preferred cryptocurrency. Users interested in our ecommerce solutions or brick and mortar deployments should contact us at email@example.com.
2) How does the EPCIS Decentralized Network (EDEN) Work?
EDEN is a platform agnostic tool which adds an immutable, decentralized layer to supply chain data. That is, EDEN is not an enterprise resource platform itself, but can be appended to existing supply chain management systems via API integrations to improve the data visibility. A suite of auditing tools is currently in production to allow for in-verticsl or cross-enterprise auditing of data for business stakeholders, regulators, or consumers. Users interested in the software can read our EDEN Lightpaper to learn more.
How to buy?
1) How do I participate in the Tokes (TKS) token sale?
Users will be able to participate with our exchange partners in January of 2020. More specific details will be announced as the date approaches. Interested buyers should expect a full KYC/AML process and will need to provide supporting documetnation to participate. After the initial exchange offering, Tokes will be traded across multiple exchanges - agreements are already in place - which will be formally announced soon.
How do I learn more?
1) I'm interested in the Multichain Ventures ecosystem, where can I get more details?