Next-generation blockchain payment platform called COTI is going to participate in Beyond Block Summit, which is the main event of Korea Blockchain Week that will be held from the 16th until the 20th.
CEO Shahaf Bar Geffen of COTI is planning to introduce COTI’s vision in global payment industry and its main technology called Trust Chain at Beyond Block Summit.
COTI is a DAG-based blockchain payment platform that was developed to solve problems regarding high commission and price increase of products that occur due to centralized brokers of current payment systems such as Visa and MasterCard. It supplemented blockchain payment system that was not used due to lack of expandability, price variability, and insufficient measures for consumer protection through Trust Chain technology.
COTI’s DAG-based network induces quick agreement time that corresponds to 10,000 TPS. Current average processing speed of blockchain protocol is 20 TPS.

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Also, DAG has very low commission as it does not create blocks.
People who use COTI platform receive incentives and penalties through ‘trust’ points. People who receive high ‘trust’ points after analysis of their behaviors such as transaction and withdrawal and deposit through data receive benefits such as faster transaction and low commission.
Payment platform ‘COTI Pay’ based on COTI network is already tied to 5,000 franchises. About 80,000 people are waiting for launching of beta version of COTI Pay next month. Launching date of its Mainnet is July of 2019.
“We are pleased that we can introduce visions of COTI that emphasizes importance on trust between consumers and sellers in South Korea that leads global blockchain trends.” said CEO Shahaf Bar Geffen of COTI. “Starting with our visit to South Korea, we are going to actively recruit strategic partners from South Korea.”
Staff Reporter Gil, Jaeshik | osoligl@etnews.com