KCN: BITVIT’S COIN ONE COMPONENT OF A SIX-PART ECOSYSTEM
BitVit hopes to offer a “holistic solution” which would involve creating an intellectual exchange among industry experts and scientists, with their expertise then being shared with the public. It is hoped that future generations will be “more knowledgeable and healthier as a result.” At the heart of its concept will be Yllasports centers. As well as being able to rent sports equipment such as bicycles and receive training from former professional athletes, the company plans to offer an array of activities at these centers including yoga, Pilates, Zumba, cardiovascular training and specialist lessons for seniors. BitVit envisages that all of these goods and services would be paid for using a specially created cryptocurrency known as the BitVit Coin. This payment method would be accepted at every sports center – with customers receiving bonus coins and discounts whenever a transaction is successfully completed. BitVit’s coin will be one component of a six-part ecosystem. An app is being created which will enable the “borderless and cost-efficient” transfer of this cryptocurrency – as well as giving users the chance to sell data to researchers in exchange for rewards. This will be coupled with an exchange to allow BitVit Coins to be exchanged into euros and other fiat currencies with ease. Users will also have the option to load their crypto on to a specially created debit card. A presale for BitVit Coins began on July 1 2018, and is running until August 15. A maximum of 200 million BitVit Coins are being produced, with 120 million of these going on sale for $0.50 apiece. A minimum purchase amount of 100 BitVit Coins has been set, with the startup establishing a fundraising goal of $60 million.
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