Our GoalsThe purpose of COIC International Pte. Ltd is not something grandiose like creating a new blockchain paradigm. Rather, we aim to lower the entry barrier for companies who want to adopt IoT solutions by establishing a comprehensive and reliable IoT ecosystem.
We realize it is impossible to realize our goal with the current IoT technology and it is a challenge yet to solved. We believe that when a culture of transparent transactions between companies is established based on a blockchain IoT ecosystem, we can indeed achieve a future that we dream of. We will persevere to gradually establish this reliability-based ecosystem, by combining blockchain and IoT(Internet of Things).
COIC PLATFORM ECOSYSTEMOur intent to invigorage the Industrial IoT environment has lead us to establish the following COIC ecosystem. The COIC ecosystem to provide industrial IoT solutions to companies and to create a highly reliable environment with blockchain technology to invigorate the industrial IoT environment.
Details of the COIC ecosystem
COIC Coin's actual users are the companies that use the IoT platorm within the COIC platform. By introducing COIC Coin, the COIC platform eliminates the initial installation cost of developing an IoT environment for many companies. The people who buy the COIC coin can be categorized into two groups. One group consists of ordinary people who believe the value of the coin will rise due to a rise in demand, and another group consists of the companies who have to pay service fees to COIC International Pte. Ltd.
As mentioned before, the actual users of COIC coin are companies. Therefore, the demand for COIC coin is generated by companies that have adopted the COIC IoT platform. As the number of companies adopting the COIC IoT platform increases, the demand increases as well.
The suppliers of COIC coin can be categorized into two groups. The first group is miners who mine COIC coin within the COIC blockchain. The COIC coin that can be obtained through mining will be adjusted according to the mining reward policy. For more information, please refer to the COIC Yellow paper. The second group of suppliers are people who have obtained coins through the presales and ICO of COIC International Pte. Ltd. At the beginning of the ecosystem activation, the total supply of COIC Coin is equal to the number of coins issued during the presales and ICO. Therefore, initial adopters of the COIC platform have no other choice but to purchase COIC from those who participated in the ICO.
The COIC adopter partner is the name given to the first companies to introduce our blockchain-based IoT service at the time of COIC platform's main net launch, or to resellers contributing to the expansion of the COIC platform. The COIC adaptor partners will be the first 'pioneers' of the COIC platform, trying out and helping to improve various operations within the COIC platform. Therefore, we promise to be transparent and cautious in the selection process of COIC adapter partners. The COIC adapter partner is selected exclusively from the companies that adopt the platform before the first halvening.