VANCOUVER, Oct. 10, 2017 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC), is pleased to announce that its White Paper report for the digital Currency "NetCents Coin" (See news September 13, 2017) has been released and can be viewed on the company's website at www.net-cents.com
The NetCents White Paper, is meant to be an informative report to its readers that concisely outlines the complex issues and philosophy behind the Company's landmark decision to work in conjunction with NetCents Coin Organization ("NCCO") to launch a digital currency.
"The implementation of our digital currency is for mass adoption, to be widely held as well as widely circulated. Our goal is to deliver users and businesses with a currency that can eliminate pain points and the high fees that are consistent with traditional payment processing systems.
Highlights from the White Paper:
- Widely held and circulated
- Backed by a Treasury Reserve Account held by NCCO
- Operating under a structured coin release to prevent price speculation
- Highly secure and private
- Counterfeiting prevention and fraud risk detection structured with next generation algorithms
- A global coin
Recently Christine Lagarde, Managing Director of the International Monetary Fund ("IMF") speculated that cryptocurrency have as much of a future as the Internet itself. Speaking at a Bank of England conference, Lagarde suggested that in the long run, the technology itself can replace national monies, conventional financial intermediation, and even "puts a question mark on the fractional banking model we know today." "why might citizens hold virtual currencies rather than physical dollars, euros, or sterling? Because it may one day be easier and safer than obtaining paper bills, especially in remote regions. And because virtual currencies could actually become more stable." Many of her comments alluded to benefits of cryptocurrency that NetCents has developed with its own currency, such as "For instance, they could be issued one-for-one for dollars, or a stable basket of currencies. Issuance could be fully transparent, governed by a credible, pre-defined rule, an algorithm that can be monitored…or even a "smart rule" that might reflect changing macroeconomic circumstances." (Source: https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency/)
"We've built a digital currency that caters to our innovative, fast paced, digital world, one that is filling the gaps of Bitcoin and Ether," commented Clayton Moore, CEO NetCents. "The introduction of the NetCents Coin not only opens the gate for more opportunities for businesses and consumers, it creates financial inclusivity in what can often feel like a hostile financial landscape. The NetCents Coin was created to be widely held for the masses, with rigid release mechanisms built in to prevent both speculation and price volatility. We want our users to feel more secure not only in transacting, but in spending and accepting their currency of choice. The NetCents Coin is more than just a cost-effective solution for the merchant and consumer. It's a gateway for the financial revolution."
After further review of the transaction release mechanism by Management and Advisors, it was decided to amend initial coin release numbers (refer to News Release September 19, 2017) so as to better equate coin volumes with forecasted transaction numbers in the NetCents' merchant ecosystem. For an updated release schedule, please refer to the table in the Whitepaper. (www.net-cents.com).
NetCents is a next generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.™
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
Suite 880, 505 Burrard St (Bentall 1),
Vancouver, BC, V7X 1M4
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE NetCents Technology Inc.
For further information: please visit the corporate website at www.net-cents.com or contact Robert Meister, Capital Markets at Ph: 604. Ph: 604.638.7563 or email: [email protected]