Citizenship coin (CTZ) is a first of its kind crypto currency payment system for the CBI/RBI industry built on the top of blockchain.
CBI/RBI industry have grown to $10 billion dollar industry annually, expanding globally in many countries, and is projected to grow 20% every year. Bitcoin and other crypto-currencies are still not accepted by the CBI/RBI/EB-5 industry. Lack of knowledge and difficulty in understanding about cryptocurrency and blockchain has pushed the industry behind others from using new emerging technologies. The reliance of fiat currencies and banking services are far greater than ever.
Citizenship coin offers cheapest payment system for payment of citizenship related services in the World. Citizenship coin may be used for payment of any immigration and citizenship related services such as
- Lawyer fee
- Agent fee
- Real estate investment
- CBI/RBI programs
Citizenship coin is pegged to a strong Euro currency, rather than US dollar. The value of one citizenship coin is tied to one euro. This makes it stable, non-volatile currency unlike Bitcoin.
1 Citizenship coin (CTZ) = 1 Euro
How to buy and sell citizenship coins?
Like any other cryptocurrency, citizenship coins bought and sold can be converted to fiat. Citizenship coins can be bought and sold through Citizenship coin bank or exchange
Here is a very simple scenario:
- Buyers buy 1 CTZ paying one euro. (commission of 1%)
- Buyer send 1 CTZ to seller who receives citizenship coin through wallet software (network transaction fee 0.0001 CTZ)
- Seller converts 1 CTZ coin to fiat euro from Citizenship coin bank (commission of 1%)
The transaction fee and commissions are quite cheap for large sums of money. For example to send €1 million euros through citizenship coin network, the exchange fee is 1% and transaction fee 0.05 euros.
Hence citizenship coin project eliminates banks as middlemen and use of correspondent banks, as the transactions involve directly buyer and seller.
The real problem with bitcoin is, it is extremely volatile and unpredictable, today it could be $10K and by next week it could plunge to $5K. This volatility causes extreme losses for anyone accepting Bitcoin. Therefore CBI/RBI industry needs its own cryptocurrency
Citizenship coin can be used to pay for citizenship related services throughout the world, not just limited to CBI/RBI/EB-5 industry. Property developers, Agents and even Governments promoting citizenship and residency programs may chose accept citizenship coin in the future.
It only costs a fraction, to send payments and payments are confirmed within 10 minutes. For example to send 1 million coins equivalent of 1 million euros, the transfer fee is only 0.1 CTZ and much less. The coin network is scalable to handle over 10 million transactions per day. In 2014 Paypal handled 10 million transactions per day and credit card company VISA and Mastercard handles on average 3 million transactions per day. There is no limit on amount of coins sent.
Citizenship coin project could function as ‘Coin bank’ acquiring banking license in number of jurisdictions. Migration firms can obtain license to function as ‘coin bank’ from citizenship coin developers to buy,sell and mine citizenship coins.