Citowise provides companies and private users with tools to interact with the blockchain network. For private users, we provide simple and reliable cryptocurrency mobile applications. At the same time, we provide encryption fee payment processing gateways and company operation services for commercial users, including registering companies in foreign jurisdictions. For cryptocurrency startups, we provide a unique initial coin offering (ICO) platform, as well as a wide range of consulting services for legal, marketing and technical solutions.
Mobile wallets are Citowise's most popular products. It is a multi-cryptocurrency wallet for private and corporate clients, and it solves many of the problems that slowed mainstream adoption and global use of cryptocurrencies.
The main issues affecting industry growth include:
• The complexity of the blockchain concept
• Difficult to buy cryptocurrency
• Expensive exchange fees
• It is difficult to integrate cryptocurrency into traditional payment systems
• It is difficult for companies to publicly operate cryptocurrencies
• Accounting systems for cryptocurrencies are not widely available
• Fundraising for an ICO is a challenging process, tainted by reckless players and scammers
Citowise provides the following solutions for these problems:
• A completely unique and secure multi-cryptocurrency wallet that integrates with Ledger and Trezor
• Extremely simple user interface, without any technical knowledge of blockchain network
• An integrated exchange simple interface with user choices to convert one cryptocurrency to another.
• Buy cryptocurrency directly from the wallet
• A prepaid debit card that can be instantly topped up with the cryptocurrency in the wallet, allowing users to use crypto on demand
• Reduce exchange fees because Citowise scans all exchanges for the best trade
• Use cryptocurrency to buy a real company in 28 jurisdictions
• A unique solution to generate invoices for all encrypted payments in the company wallet for accounting purposes
• Use a hardware wallet with multiple cryptocurrencies as a safe way to participate in ICO
• Listed on the ICO platform through a strict due diligence process by the Citowise team
• Payment processing gateway, allowing services to be paid in coins or tokens
The Citowise Wallet is online and has more than 40,000 active users. Most of the functions listed above are already working, while the remaining functions will be integrated shortly after the ICO.
The Citowise token will have the following utility functions1. Wallet listing
2. Encrypted payment processing fee
3. Convert to debit card balance
4. Pay for company registration services
5. Pay for Citowise Market Service
6. As a payment mechanism for other services that Citowise will provide, and various cryptocurrencies that will be accepted
Citowise's goal is to provide a complete wallet service that allows users to smoothly convert funds from encrypted to legal, and vice versa. It is the only mobile wallet in the world that allows the use of Trezor and Ledger to safely participate in ICOs, and it will become a network baseline for users' private and corporate accounts. Citowise plans to launch a very aggressive marketing campaign to reach our first milestone with 1 million users.
The most notable achievements of Citowise include:
• Citowise has recently become and remains the number one wallet on the world famous cryptocompare.com website
• The Citowise mobile app is the only security solution in the world that allows the use of hard wallets such as Trezor and Ledger to participate in ICOs.
• Over 80,000 downloads and over 40,000 active users
• The Citowise project won the 3rd place among 40 winners participating in the Moonrise 2017 competition
• After completing our roadmap, Citowise will surpass other cryptocurrency wallets in the world in terms of functionality.
• For companies, we provide payment platforms for payments in coins and tokens. It is integrated into a website within 5 minutes, and any ICO can start accepting its own tokens. Users can pay for project-specific tokens from the wallet with 3 clicks.
• Citowise is one of the few truly secure and decentralized wallets, and we do not keep users' private keys. This makes the Citowise wallet an excellent tool for operating on the blockchain.
Citowise methodAt Citowsie, we understand that the development of the entire industry is closely related to the easy creation of new products and services and the connection of already operating businesses with them. In our learning process, we realized that there are many basic problems that limit the development of the encryption payment operation framework for private users and corporate entities. The solutions we provide are designed to solve these problems and promote the development of blockchain-related projects and existing businesses.
Citowise has provided many products that have gained positive traction in the community. Citowise now runs, tests or has the following tools with a solid software foundation:
• Multi-cryptocurrency wallet with hardware support
• A universal decentralized ICO participation platform
• Decentralized payment processing for e-commerce
• Company registration function in one of 28 available jurisdictions
• Markets managed by the company
This will bring transparency and trust to blockchain startups at the same time, simplify and speed up the project development cycle, have a positive impact on the stability and maturity of the established solution, make product operating costs and improve the transparency and expertise of all relevant parties equal , Create a bridgehead for the blockchain to penetrate into daily life.
Citowise walletwallet
First of all, the operation of the blockchain should be simple, easy and smooth. This step can only be achieved by successively iterating the software interface and adapting it to different user groups. Second, the operation process should alleviate the necessity of any technical understanding or knowledge-based behavior. Third, the process should be simple, safe and self-explanatory.
Citowise determined these factors and provided a free, safe, reliable and infrastructure-independent wallet for mobile phones. A mobile wallet connected to the Internet transforms the blockchain from clumsy and high-tech technology into a convenient and reliable tool. Through the continuous iteration of user feedback and the implementation of a wide range of functions, Citowise Wallet is understood by people without a technical background. Providing hardware wallet support makes Citowise wallet an unparalleled level, transforming it from another wallet into a convenient, secure and user-available solution anytime, anywhere.
According to all our research, we see the huge potential of future mobile phone use, which is why we chose to focus on the development of smart phone products. Research shows that the number of mobile phone users will increase exponentially.
This kind of wallet is cross-platform on Android and iOS, and can enter Linux and Windows desktops at the same time in a short time. In addition, it also supports multiple blockchains, such as based on the Ethereum and Bitcoin protocols.
The Citowise Wallet currently supports the following cryptocurrencies:
• Bitcoin
• Litecoin
• Ethereum mainnet
• All ERC20 tokens (currently more than 34,000 tokens)
• Ethereum Classic
• POA blockchain
A very important focus during the entire development process is security and the security of the assets it owns. Its architecture is designed based on industry best practices. For example, it currently supports Ledger NanoS and Trezor hardware wallets for maximum security because they can be used for peer-to-peer transactions and ICO participation.
The security, cross-blockchain and cross-platform nature of the wallet is also supplemented by the following setting functions: currency hunting and interest rate calculator, integrated exchange system, rating and pre-scanning ICO list with seamless participation experience, address book, global token Search, payment request function, multi-tenant and IBAN type address support.
ERC20 tokenCurrently, the wallet provides more than 34,000 ERC20 tokens through an integrated global search. There is no need to manually enter the address, which is an error-prone and cumbersome process. On the contrary, users can safely search for the token they need through global search and add it to the tracking list with just 2 clicks.
The global search function is also part of the security measures that Citowise provides for its users, striving to make the blockchain experience as safe as possible. Someone noticed that users often receive incorrect token addresses and search for them in untrusted websites, forums or chats. Citowise makes this operation simple and seamless.
Bitcoin family coinsBitcoin is already available in the Citowise wallet, and the range of available coins will continue to grow over time. Currently scheduled integrations include: Litecoin (LTC) and BitcoinCash (BTH). All Bitcoin coins will provide full support, the same as ETH-based coins, including balance checking, peer-to-peer and e-commerce transactions, participation in ICOs, and integration with hardware wallets.
Other blockchainsThe flexible wallet architecture and design provide an opportunity to quickly expand its blockchain support functions. Now, in addition to Ethereum, it also supports Ethereum Classic and POA networks. The integration process of the Bitcoin coin series has been carried out at full speed, and more blockchains will be available soon.
Nowadays, ICO is a good method of crowdfunding in the blockchain world, although his qualifications are still unclear. In general, it is completely decentralized, and the user's currency payment can be easily collected into projects of any size and combination. However, since this is a fairly new method of crowdfunding, users are often confused about how to participate correctly, or be fooled and misled.
Here are the 3 most common user errors and pitfalls that ICO currency payers have:
• The payment is sent to the incorrect payee (address)
• Incorrect payment method (e.g. through exchange service)
• Lost/stolen assets from unencrypted devices
The Citowise Wallet with an integrated ICO participation platform solves all these problems and significantly enhances the user experience, in addition to making the process more convenient and seamless. Today, almost all ICO participation channels do not consider the convenience and ease of use for customers. On the other hand, the Citowise wallet was designed from the beginning to be easy to use and to provide as comprehensive functionality as possible, with minimal customer interaction.
Because ICO registration is tightly integrated with the Citowise wallet that stores user assets, users cannot send their cryptocurrency to the wrong address. The ICO participation experience is pre-defined and pre-configured by the wallet, with strict processes and rules-users are guided from making Know Your Customer (KYC) and paying to receiving the token. At the same time, the user can flexibly exchange his assets in advance by integrating into the wallet exchange service, or calculate the amount he sends in other currencies.
Therefore, Citowise Wallet provides a safe and convenient way to participate in ICO activities without any restrictions or restrictions.
In addition, every ICO enlisted in the army will be screened by Citowise experts and checked for effectiveness, thus eliminating any possibility of including a fake ICO on the list.
All of this is good for ICOs, as well as the seamless, error-free process enforced by Citowise Wallet, because the wallet gets more attention and payment without loss of resources or reputation.
Donation activity
Seeing that the convenience and power that Citowise Wallet brings to ICOs is overwhelming, Citowise is committed to helping and guiding this power to everyone who uses blockchain technology, especially to provide a platform for donation activities.
Blockchain technology donations are similar in nature to ICOs, and they have the same problems, so Citowise Wallet is an ideal tool to kill two birds with one stone in this regard. Donation activities will be screened and checked whether they meet the requirements. Only activities with clear goals and transparency will be included in the list, thus providing confidence to the donating users that they did it out of good intentions and the money will fall into the right hands. in.
At the same time, Citowise technology will provide a direct and perfect participation experience, eliminating the opportunity to make donations in the wrong way.
Integrated transaction
Citowise Wallet comes with an integrated exchange service that allows users to buy or sell their assets to any other user without leaving the application.
In addition, due to the integration of multiple independent exchange services, users have the opportunity to choose the most favorable price, so they can immediately make the best deal.
The flexible architecture and design of the wallet allows the number of integrated exchanges to be expanded. The wallet has integrated two of them-Shapeshift5 and Changelly6, they have no further expansion restrictions, and Citowise plans to provide users in this field with additional experience.
Escrow transaction
Citowise plans to go far beyond direct payment solutions and implement custodial-type transactions where two or more parties want to make a transaction without trusting each other-all of which are tightly integrated into the wallet.
Custody type transactions are a good way to enable any type of untrusted transactions and blockchain to be authorized by Citowise technology, so that they are straightforward, error-free and safe for both parties.
Statutory gateway
Citowise Wallet is committed to becoming the ultimate end-to-end solution for blockchain users, and now, people still need to convert fiat currency into one of the most popular cryptocurrencies. Citowise will provide this opportunity to all wallet users in a reliable and flexible way-supporting various types of payments-debit cards and bank transfers.
Citowise plans to develop a plan for fiat gateways because this will allow users to convert directly to fiat currencies instead of passing through some kind of cryptocurrency in the first place, especially when using a trading platform. Our goal is to ensure that Citowise customers can easily acquire and clear cryptocurrencies on demand. Citowise and other fiat currency trading pairs will be added to the main digital currency, thereby increasing Citowise's trading volume. In the long run, the development of this technology will be a better solution. This means that Citowise users can access debit cards that can be funded.
Safety
Security is always the main concern of any financial system. The first target of any attack is usually concentrated fund assets, the rewards of which can be very high. Another target of the attack is the fund transfer mechanism. There is no doubt that interfering with these channels is one of the main targets of malicious users because their returns are high. The last major attack vector is wallet storage. The experience of impaired funds storage can be shocking for wallet owners.
The main principle of Citowise is to never interfere with customer funds and reduce the time for such interference when the blockchain protocol does not provide built-in trusted tools. Citowise currently supports Ledger NanoS and Trezor hardware wallets to ensure maximum security. Both can be used for peer-to-peer transactions and ICO participation. This makes the wallet app significantly superior compared to wallets that have not yet provided this support for their users.
The Citowise Wallet has never transferred the backup phrase or private key to any server or other device. The only exception is during the backup process performed by the wallet owner, accompanied by corresponding security warnings. This sensitive information is stored on the device in an encrypted format and is protected to prevent unauthorized access. The Citowise wallet can guarantee that the security of the wallet is at least the same as the device it operates on.
Payment process
E-commerce has in fact become the standard model of the retail industry. The annual report outlines the fascinating online sales growth trend, and the forecast paints a better picture. In Europe alone, it was reported that online turnover in 2016 was 530 billion euros, and in 2017 it is expected to reach 602 billion euros. For the world as a whole, the numbers are even more impressive. It is estimated that the amount of e-commerce will reach US$4 trillion by 2020.
E-commerce ratings by countries
Many companies provide payment processing solutions primarily for online sales. Most online purchases are made through credit card service providers such as Visa, American Express and MasterCard.
Merchants can choose a highly reliable payment solution that has earned a good reputation over the years, especially in the best-case scenario with a fee of less than 2% plus transaction fees7. However, credit card systems are not always able to provide online payment solutions that cost less than 2%. The main credit card system fees are slightly higher than the above, making it difficult for the online processing system to decide to increase the service fee8.
Traditional payment systems are convenient tools for online merchants selling goods or services to local or regional customers; however, these systems are not suitable for companies that only operate in the digital space. Music, videos, e-books, online training, games and other digital goods or services are often victims of refund fraud.
However, more and more ICOs have generated hundreds of digital currencies for their undelivered products. Discovering and developing simple and efficient solutions that can bring trust to the financial system using these currencies in a convenient and flexible way is the ambitious goal that Citowise strives to achieve. Our team aims to provide a series of complete products that can cover the most common scenarios that the market responds to daily. Fortunately, the cryptocurrency released on the Ethereum blockchain achieves the same behavior and has the same circular problem that can be solved at the same time. This will save development time and the workload of developers, and enable them to provide fully functional products to the market. However, many other issues must be resolved, such as seamless integration into external products, safe and efficient workflows, user-friendly and highly accessible financial applications, and the scalability of different types of blockchains.
The Citowise solution for this market segment is an operational payment gateway designed to sell digital goods and services in exchange for cryptocurrency, including ether, bitcoin, litecoin, ethereum and other blockchain-based tokens. Current estimated profit margins are lower than traditional payment processors, which makes it one of the cheapest solutions in emerging markets. Therefore, Citowise aims to gain a strategic position and provide payment solutions, in which transactions will be processed through a smart contract-based platform to meet the needs of merchants. This will facilitate the payment process and allow all parties to fully control their funds, which can neither be adjusted nor affected by interaction.
Citowise is aware of these issues and attaches great importance to security issues. The Citowise payment gateway implements a decentralized product model without central fund storage. This product will alleviate corporate customers' concerns about company safety. If the blockchain protocol allows, all funds are stored in a designated smart contract, or once a valuable amount is obtained, they will be quickly released to the merchant. Unfortunately, the smart contract concept is not applicable to every blockchain; however, there are some author projects that aim to bridge this gap.
In addition, Citowise does not impose any restrictions on the end customers, in terms of what software they will use to initiate payment, but allows them to choose the preferred wallet according to the user's personal preference. However, since Citowise Wallet integrates with all related products and provides a better user experience, it is recommended to make it the first choice.
debit cardPlastic cards have become the de facto global payment standard. They can be found in all civilized places around the world and are widely used as payment methods for online and offline shopping. The penetration of plastic cards in the payment process of daily life and their relationship with the digital world below and the digital nature of encrypted currencies on the other hand have led many people's thinking to become the direction that links the two together.
Despite the strong efforts of many people, there are still many potential obstacles that hinder this integration. These are the origins of unclear cryptocurrency, so it is suspected of its relationship with illegal activities and the lack of transparency in the ownership of the blockchain world. Once these issues are resolved, the connection between the blockchain and the debit card will be easier and will certainly be widely adopted. Unfortunately, before that, we were forced to impose huge restrictions on any connection between fiat currency and cryptocurrency.
Citowise's mission is to solve the complexity of using cryptocurrency, so that cryptocurrency can be used quickly and economically whenever needed. The solutions we provide solve many of the problems listed in the "At a glance" section. Citowise wallet users will be able to sell their crypto assets at a cost-effective exchange rate and receive the equivalent of the cryptocurrency in fiat currency on a prepaid Citowise brand debit card. The entire process will be many times faster than selling encryption through exchange, essentially providing users with almost instant, true availability of cryptocurrency.
Citowise's mission is to solve the complexity of using cryptocurrency, so that cryptocurrency can be used quickly and economically whenever needed. The solutions we provide solve many of the problems listed in the "At a glance" section. Citowise wallet users will be able to sell their crypto assets at a cost-effective exchange rate and receive the equivalent of the cryptocurrency in fiat currency on a prepaid Citowise brand debit card. The entire process will be many times faster than selling encryption through exchange, essentially providing users with almost instant, true availability of cryptocurrency.
Citowise DevelopmentsOu is a company registered in the Republic of Estonia and has been operating since 2017. The team currently has 15 members, half of which are developers. Unlike other competitors that may have successfully conducted ICOs but are only in the product planning stage, we have launched a world-class cryptocurrency wallet that can run on iOS and Android and has been downloaded more than 80,000 times. Citowise successfully completed all these tasks in just one year of operation.
The Citowise Wallet will provide such services for the largest major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin and other top trading coins as well as Citowise tokens. With such a solution, users only need to use a prepaid debit card that can be accepted anywhere, and can use cryptocurrency to pay in real life, online or in other ways.
Citowise will be the link tool between Citowise wallet, card issuer, compliance service and crypto exchange. Therefore, a series of complex operations will be reduced to a few clicks, allowing the user to use his cryptocurrency anytime, anywhere in the world.
timeline
Citowise is currently negotiating with a number of plastic card acquisition institutions located in the European Union (Visa/Mastercard) and Asia (Unionpay)
cost
The final fee structure will be announced after negotiation with the plastic card undertaking agency.
limit
Citowise's current estimated limits for debit card solutions are:
• Automatic teller machine withdrawal limit: 300 euros per day*;
• Automatic teller machine withdrawal limit: 5000 euros per month*;
• Purchase limit: 1,000 Euros per day*;
• Purchase limit: 10,000 Euros per month*;
*Amount may change
Anti-money laundering (AML- Anti money laundering)
Citowise has developed anti-money laundering regulations, which describe a specific list of procedures that our company will follow when conducting business with other parties. Citowise DevelopmentsOu will obtain permission and supervision from the Financial Inspection Department of the Estonian Police and Border Guard in accordance with Estonian law.
licenseAccording to the Estonian law established under the Estonian Money Laundering and Terrorist Financing Prevention Act, in order for companies that wish to exchange virtual currency with legal tender and provide services for virtual wallets, two separate licenses are required.
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