TokenCard

Overview of TokenCard

TokenCard CEO, Mel Gelderman, says: “We’re thrilled to be working with Contis and are grateful that they support our mission to realise the value of the emerging token economy — putting it into the pockets of those who are as passionate about Ethereum and its potential as we are.”

TokenCard does not take custodial responsibility for digital assets but rather card holders store them in a ERC-20-compliant smart contract wallet, which can then be accessed via its mobile app and then converted to fiat when needed for transactions.

TokenCard will be first of its kind to bring VISA payments to the Ethereum network, allowing users to spend Ether and other ERC20 tokens at any online and PoS terminals that accept VISA credit and debit cards.

TokenCard inseems to use its head start with smart contract-backed debit cards to push the company’s project forward and propel it to become a leading company in the Ethereum world.

TokenCard is initially granting only token holders with the payment utility, but the company’s intention will be to make the product available to all users soon.

TokenCard has previously partnered up with asset tokenization platform Digix Global, in a bid to produce debit cards that will be backed by gold instead of money.

TokenCard is uniquely designed to provide a solution to the underlying Ethereum community and improve on the whole spectrum of debit card and banking industry.

TokenCard, the provider of a secure, non-custodial cryptocurrency wallet with a spendable Visa card, announced today that it’s granting, …

TokenCard makes the process more streamlined, Mr Gelderman said: “it’s the first post bank era project.”

TokenCard’s ‘token creation’ phase will mark the release of a new ERC20 token, called TKN, on May 2, 2017.

Blockchain

In addition to providing a viable solution for the underlying Ethereum community, TokenCard, by design also aims to improve the entire debit card and banking services ecosystem considerably.The Ethereum blockchain has an enormous potential to meet the challenging requirements of prime sectors like international remittance and asset management, and the use of such innovative technology will greatly benefit TokenCard.

Network

Instead of receiving a share of the fees collected by the network on a daily basis, fees collected on the TokenCard will be stored in an asset contract and TKN holders will be able to collect their share of fees whenever they want.TKN makes it possible for TokenCard users that hold the token to use the card without having to pay for any additional licensing fees, though they will still have to pay transaction fees charged by third party payment providers where those are applicable.TokenCard takes a different approach to remuneration from its competitors.

Support

"TokenCard makes every token better, letting users spend supported tokens with just a swipe at VISA merchants worldwide,” said Peter Vessenes, founder of New Alchemy.“It has unique benefits for the remittance market, and the TKN token being issued is designed to let all TKN holders benefit from broad market exposure to the token economy.This is a great, great offering and we're excited to be part of it."

Transactions

Following this, no more TKNs will be created.If you use your TokenCard to make a payment and do not use TKN to do so, you will have to pay that license fee in addition to third-party fees from the issuing partner.Of course, any transaction fees from the payment system provider or third-party card issuers will remain in play.These fees are automatically sent to the TKN Asset Contract, which is completely automated.Those with TKNs have the right to use their TokenCard for transactions without paying those previously mentioned extra licensing fees.TokenCard will only create TKN tokens during a limited time, with just a fixed number generated during the presale.

What should be used to represent creature tokens when the printed token card isn't available?

Many spells or abilities cause one or more creatures to join the battlefield (i.e.1/1 white Soldier creature tokens, 3/3 green Beast creature tokens, etc.).These token cards are not included with the cards that require them.

What can you do with a token card?

The back of the card follows a set format, but serial numbers can be added if needed.

What Should You Know about the TKN Token?

As mentioned, TKN is the token behind TokenCard.TKN acts as a proxy asset representing the value of your tokens held within your TokenCard.Every time you use your TokenCard, there is a swiping fee, which is a 1 percent license fee that acts as remuneration for using the software protocol from the TokenCard project.

How are the objectives to be achieved?

In order to increase acceptance of crypto currencies, the developers have defined three pillars that are needed for market acceptance.

#1 – What is TKN?

Cryptos are increasingly emerging as a form of convenient money.While cards have facilitated our transactions, cryptocurrencies are the latest means of payment.With the rapid growth of this new form of money, TokenCard has come up with a convenient way to use it.

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#5 – How is TKN different from other cryptocurrencies?

The cryptocurrency market has been mainly surrounded by volatility and lack of security.With the launch of TokenCard, the transactions using cryptos was made much easier and convenient for the users.Monaco and TenX are some of the close competitors of TokenCard.But the latter was launched first and has a lot to offer to stand out from the two.

How Does the Token Contract Wallet Work?

The key to TokenCard’s functionality is the Token Contract Wallet.This Ethereum smart contract wallet is where you store your tokens.When you swipe your TokenCard, funds are removed from this wallet.Because of the wallet, there is no need to ever deposit money with TokenCard.Instead, you keep all your funds in a smart contract wallet solely controlled by you.

Does MasterCard Hate Cryptocurrency?

MasterCard CEO Ajay Banga has again denounced cryptocurrency as junk.Banga believes cryptocurrency is too wild to be a medium of exchange, The Economic Times reported.Banga made similar statements last year.

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Is the TokenCard a Good Cryptocurrency?

The TokenCard (TKN) is a respectable cryptocurrency.The TKN achieved a Coin Price of 50¢ on 16 August 2018.

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What is the cryptocurrency used for?

The cryptocurrency is in relation to the physical token card, which is used to make the user’s wallet and the tokens contained in it usable for everyday use.

What is TokenCard?

Tokencard is the first debit card that will let you spend Ether and other ERC20 tokens in your daily life, seamlessly interacting with standard payment terminals worldwide.

What Additional Features Does the TokenCard Have?

TokenCard is accepted at millions of ATMs, as well as merchants around the world.It settles on assets instantly, utilizing competitive pricing.If you wish, you can set limits for your spending, so you are always in control.These limits are done via the Token Contract Wallet and can include daily fiat limits, daily token limits, percentage limits, and time-based limits.You can also freeze your card instantly if you lose it or it gets stolen, so you do not lose money.

What Are the Basics of the Debit Card?

TokenCard is a debit card that you can use anywhere in the world where debit and credit cards are accepted, including at ATMs.You fund your card with an allowance from your ERC-20-compatible contract wallet, as mentioned before.

How Does TokenCard Deliver Security?

In addition to being able to freeze your card instantly and set spending limits, TokenCard has multiple other security features, including a mobile application that is secure by design.All assets are stored in a smart contract wallet that is safe and triple audited.With your unique passphrase, you can restore and back up any device, making hacks significantly less likely.There is also the unique option to instantly withdraw all assets in case of an emergency.

Why Monolith?

The concept of Monolith stemmed from Arthur C.Clarke’s novel 2001: A Space Odyssey, where it represents mankind transcending into a new era.To us, Ethereum is the real-life analogy to the Monolith and it alludes to transcendence in the world economy through the introduction of Decentralised Finance (DeFi).

What is the current market capitalization?

The TokenCard Coin has a current market capitalization of USD 30 million.

What is the long-term goal of the TokenCard?

Despite the popularity of Bitcoin and Ethereum, the acceptance of cryptocurrencies in the mass market is not yet very high.

What Is the Token App?

In addition to the card itself, TokenCard has its own application.This lets you manage and view your assets in a single, convenient place and track your spending with real-time information.Transactions display information such as where you used the TokenCard, the type of establishment, how much you spent (both in tokens and the local fiat currency), and the transaction location via Google Map’s API.

How to buy TKN?

TKN is available for purchase and sale on major crypto exchanges such as Bancor Network, HitBTC, IDEX, Liqui, and Livecoin.In order to purchase TKN, you will need a wallet with cryptocurrency balance in it.

What should be used to represent creature tokens when the printed token card isn't available?

Many spells or abilities cause one or more creatures to join the battlefield (i.e.1/1 white Soldier creature tokens, 3/3 green Beast creature tokens, etc.).These token cards are not included with the cards that require them.

What is TokenCard?

A deposit-less Ethereum token-based debit card & platform.

What’s next?

Our transition to Monolith is a significant milestone in our development, yet the journey is just beginning.

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History of TokenCard