Exclusive: The new digital coin sent via email
Thursday 08 May 2014
Less than two weeks ago a new digital coin was launched: Ozziecoin. Lloyd Chin, a member of the Ozziecoin development team, exclusively tells BitScan why he is so excited about what ozziecoin has to offer and talks us through the key concepts behind this new digital coin.
Core to the ozziecoin concept is, firstly, ease of use. For the majority of Australians, it is simply impractical to send digital coins via crypto addresses. I can’t see my mother or any of her friends sending bitcoins via bitcoin addresses. They barely know how to download the android wallet. However, all of them know how to use email. They use it everyday. So, it wasn’t difficult to realise that ozziecoins must have a send via email function, and that’s exactly what was done.
People who register at the ozziecoin panel, will be able to claim coins and send ozziecoins via email, either on their computer or via their mobile phone. You can even use an iPhone to do this. Just add the shortcut to your mobile home screen.
Ok, sending ozziecoins via email reduces privacy and introduces centralisation, which some of us will worry about. You can relax on that front because all the normal bitcoin type protocols and windows wallets are all still there. Using the send ozziecoins via email function is entirely optional.
Designed to be people friendly
Ozziecoin is bitcoin for the Australian public; the 99.9% of the population who don’t care what mining is and don’t know how to use a windows or mac wallet. All people really want is a way to send value to someone, easily and securely.
To assist that, ozziecoin has produced a web wallet, which is available from the Google Play Store. Search “ozziecoin” on the Play Store and you will find it. This app will allow you to send ozziecoins to anyone, anywhere at any time with a simple email message.
Messages that people could send include: “Thanks for the great article you wrote.” Or, “Nice to meet you at the conference, here’s something new called ozziecoins.” It’ll definitely make an impact.
In the longer term, once ozziecoins is listed on a crypto exchange or on an Australian dollar to ozziecoin exchange, you will in effect be able to email money around. So, the messages could turn into something like: “Please send pizza to Joe at 1 Ravenous Drive, Hungryville.” Or, “Send a round of beers to table 8, the one with the 10 good looking blokes.”
To prepare for the future, ozziecoin has consciously decided not to list on a crypto exchange until the member base is big enough to support the value of ozziecoins. We hope to list ozziecoin in a market within about six months.
Give to friends, buy a beer or tip a writer with ozziecoin
In the meantime, ozziecoin is preparing for all the groundwork to get businesses ready to accept ozziecoins. For example, we will list businesses that support ozziecoins in our business directory.
To join the directory, all a business needs to do is to offer something in exchange for ozziecoins. If you’re a café owner, this could be free chips with every sandwich if people pay 10 ozziecoins plus the cost of the sandwich. If you’re a photographer, you might offer to give a 10% discount if people pay you 10 ozziecoins. The type of offer available and how businesses wish to structure it is entirely up to them.
To encourage the widespread distribution of ozziecoins, ozziecoin cards will be given out at counters at venues. It’s good publicity for the business because their customers can pick up ozziecoin cards and claim free ozziecoins. (Actually, we need people to help drop off these business cards to businesses in the major capital cities.)
The objective is to get ozziecoins and the Blockchain out to the community, and not focus on the crypto mining community only.
After 5 years, we note that there are less than 2 Million bitcoin holders globally, and most people are not using bitcoins for transactions. Bitcoins are being hoarded as an investment, which is a completely logical thing to do because there are only 21 Million bitcoins ever to be created. Nevertheless, it’s clear that most of the bitcoins are not being used for transactions, which stymies the progress of crypto in the community.
In contrast to the uneven distribution of bitcoins,
ozziecoin made the decision to flatten out the distribution of ozziecoins.
We have pre-allocated (aka pre mined) half of the total supply of ozziecoins to be freely given away to the public.
Every Australian resident is entitled to claim 500 ozziecoins but will require a mobile phone for authentication. These ozziecoins will be given away as long as there are any ozziecoins left to be given away, meaning that most people should get their allocation of 500 ozziecoins.
The costs of authentication are currently borne by the development team. In the future, ozziecoin will probably have to impose a fee to id and authenticate people, however, it shouldn't exceed the cost of a cup of coffee from a retail store.
So, ozziecoin is about introducing the Blockchain to the community at large. It has an equitable distribution structure and it allows ordinary people to send ozziecoins to each other via email. All the complex protocol stuff is hidden away but is still there for people who want to use it.
You could think of ozziecoins as the training wheels for normal people
before they hit the big leagues of investing in bitcoin.
It is simple, straightforward and showcases the power of the Blockchain. Once people become familiar with ozziecoins, it will be much simpler for them to learn about the complexities of Satoshi’s protocol.
For now ozziecoin has zero value. Use it as a play currency and tell your friends without fear of losing money. By having zero value, ozziecoin avoided many hassles such as DDOS attacks, Blockchain manipulations, pump and dumps by speculators, tax on income from mining and other issues.
Having said that, in about six months, once the user base is big enough and once there are enough businesses in the business directory, ozziecoin will be listed on a major cryptocurrency exchange to ascertain a fair market value for ozziecoin. Then things will become serious.
For further information about ozziecoin, visit http://ozziecoin.com.
If you want to be involved, please contact ozziecoin at [email protected]
The ozziecoin forum and the ozziecoin facebook group have regular updates.
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