Kobocoin is a decentralized cryptocurrency and micro payment system

Country: United Kingdom

Year: 2014

Concept

  • Kobocoin is a cryptocurrency and payment system similar to Bitcoin in the African market.
  • It runs a proof of stake mechanism, meaning users stake their own coins to verify transactions.
  • The unit of account is called the Kobocoin.
  • The Kobocoin currency has four denominations: the Kobocoin, the Manilla, the Cowrie and the Mansa.
  • 1 Cowrie is worth 100 Mansa, 1 Manilla is worth 1000 Cowrie and 1 Kobocoin is worth 1000 Manilla.

Consumer Benefits

  • Every person who owns Kobocoins becomes a stakeholder and is therefore entitled to new Kobocoins as a reward.
  • Kobocoin transactions are almost instantaneous worldwide.
  • Transactions are anonymous and secure due to the advanced encryption that is used.
  • Transaction fees are much lower than when using traditional payment methods.
  • Payments are secure due to geographically dispersed DNS Seeders.

How to use

  • Consumers can either download a mobile wallet through Googly play, Amazon and BlackBerry World or a desktop app on Windows or Mac.
  • No registration is required.