Sparkle Coin ICO live stream from Techcrunch Distrupt S F

Transcript

welcome to the sparkle coin ICO and it is my pleasure to introduce the president and CEO of Sparkle coin Victor Wong thank you guys for being here I know it's the last day and you guys some of you have stayed because of this so let's uh right get down to this and what I want to talk to you guys today about is a new high efficiency low drag crypto b... Read More

Summary

In this video, Victor Wong, the CEO of Sparkle Coin, introduces the concept of a new high efficiency, low drag crypto-based economy. He explains that the first generation of cryptocurrencies, like Bitcoin, focused on technology and decentralized operation, but they have not been widely adopted for everyday transactions. Sparkle Coin aims to create an economy where cryptocurrencies and blockchain technologies are used for everyday transactions. They have created the Sparkle Coin ecosphere, which consists of Sparkle Coin, the V Coin Mall, and an exchange with a payment gateway. Sparkle Coin is a hybrid cryptocurrency based on proof of work (PoW) and proof of stake (PoS), backed by $5 worth of GIA-certified diamonds per coin. The V Coin Mall allows users to purchase products from major retailers using Sparkle Coin, and the payment gateway enables businesses to accept cryptocurrencies. The video also discusses scalability, partnerships, and the team's experience in implementing new technologies.

Questions & Answers

Q: What were the goals of the Sparkle Coin ecosphere?

The goals were to create a safety net for early adopters, provide transactability for everyday purchases, and establish liquidity by enabling the trading of Sparkle Coin with other cryptocurrencies and fiat currencies.

Q: How did Sparkle Coin approach these goals?

Sparkle Coin created three companies within their ecosphere - Sparkle Coin, the V Coin Mall, and an exchange with a payment gateway. They created their own blockchain, online shopping mall, and exchange to have full control and support for their goals.

Q: What is Sparkle Coin and how is it different from other cryptocurrencies?

Sparkle Coin is a hybrid cryptocurrency that combines proof of work (PoW) and proof of stake (PoS) technologies. It is different because it is backed by $5 worth of GIA-certified diamonds per coin, providing a safety net for early adopters and increasing its value.

Q: How does the V Coin Mall contribute to the adoption of Sparkle Coin?

The V Coin Mall allows users to use Sparkle Coin to purchase products from major retailers like Amazon, Walmart, and Target. This enhances the transactability of Sparkle Coin for everyday purchases, which is not widely available with other cryptocurrencies.

Q: What is the role of the payment gateway in the Sparkle Coin ecosphere?

The payment gateway serves as a plug-in for online stores to accept Sparkle Coin and other cryptocurrencies as payment. It eliminates the need for custom coding and provides a process for merchants to charge and receive payments in fiat currency, reducing the volatility risk associated with cryptocurrencies.

Q: How does Sparkle Coin differentiate itself from other cryptocurrencies in terms of business focus?

Sparkle Coin positions itself as a business-centric cryptocurrency, with a focus on providing solutions and support for businesses. It aims to bridge the gap between the cryptocurrency world and the traditional business world by offering a secure and supported infrastructure.

Q: How does Sparkle Coin address the issue of scalability?

Sparkle Coin has developed a pre-emptive approach to scalability, which allows them to process a high number of transactions on their blockchain. This innovative solution, for which they have filed a patent, enables rapid scalability and ensures that the blockchain can handle increasing demand.

Q: What advantages does Sparkle Coin offer to businesses and vertical markets?

Sparkle Coin offers an easy-to-use platform for businesses to incorporate cryptocurrencies and blockchain technologies. They can leverage Sparkle Coin's existing infrastructure to plug in their own business models, saving time and resources for research and development. This gives them a first-mover advantage in their respective industries.

Q: How does Sparkle Coin ensure security and support for businesses?

Sparkle Coin prioritizes security and support for businesses by encrypting all transactions and partnering with established hosting providers like Google and Shopify. They aim to be a well-funded and stable company that Fortune 500 companies can trust to work with cryptocurrencies.

Q: Why did Sparkle Coin choose to back its cryptocurrency with diamonds?

Sparkle Coin chose diamonds as a backing because they provide a safety net for early adopters, and they are easier to store and redeem compared to other assets like gold or silver. Once the coin's value surpasses a certain threshold, the backing with diamonds is no longer necessary.

Q: How does Sparkle Coin plan to handle anti-money laundering regulations?

While not specifically addressed in the video, it can be assumed that Sparkle Coin, as a cryptocurrency, would need to comply with anti-money laundering regulations and implement appropriate measures to prevent illegal activities.

Takeaways

Victor Wong, the CEO of Sparkle Coin, introduces a new high efficiency, low drag crypto-based economy. They aim to create an economy where cryptocurrencies and blockchain technologies are used for everyday transactions. Sparkle Coin has designed an ecosphere consisting of Sparkle Coin, the V Coin Mall, and an exchange with a payment gateway. By providing a safety net for early adopters, transactability for everyday purchases, and liquidity through trading, Sparkle Coin aims to overcome obstacles preventing widespread adoption of cryptocurrencies. They also offer a payment gateway for businesses to accept cryptocurrencies, enabling them to participate in the Sparkle Coin ecosphere. The team's experience in implementing new technologies and their focus on the business world contribute to the unique positioning of Sparkle Coin.