Flexible transparency

Behind the transactions, the identities of the people are private by default. However, all Bitcore transactions are transparent and public. This allows individuals and organizations to work with flexible transparency rules. For example, a business can choose to reveal certain transactions and balances only to certain employees just like a non-profit organization is free to allow the public to see how much they get in donations.

Automated solutions

Automated services, from flight tickets to tea machines this includes all kinds of vending machines, usually have to deal with costs and limitations of cash, or credit card payments. Bitcore is suited to be used in a new generation of automated services to cut their operating costs. Imagine self-driving taxis or a store where you can pay for your purchases without waiting in line. Many ideas are possible.

Self funded from the Community

Bitcore is created from the Community. There was no ICO for Bitcore. ICOs lead to an influx of wealthy private investors who „buy“ their way into disproportionate power and influence over crypto communities. Thus, this was a conscious decision by the Bitcore community intended to foster equal opportunities and participation among potential BTX users around the world.

Control against fraud

Bitcore is designed to allow its users to have complete control over their money. Strong level of security is possible with Bitcore. The network provides users with protection against most common types of fraud like chargebacks or unwanted charges, and bitcores are impossible to counterfeit. Users can encrypt/backup their wallets. Hardware wallets make it very difficult to steal or lose money.

Global accessibility

Bitcore allows any bank, business or individual to securely send and receive payments anywhere at any time, with or without a bank account. All payments in the world can be fully interoperable with Bitcore. Bitcore is available in a large number of countries that still remain out of reach for most payment systems due to their own limitations. Bitcore increases global access to commerce and it can help international trades to flourish.

Cost efficiency

A secure payments are possible with the use of cryptography, without slow and costly middlemen. Bitcore transaction can be much cheaper than its alternatives and be completed in a short time. This means Bitcore holds some potential to become a common way to transfer any currency in the future. Bitcore could also play a role in reducing poverty in many countries by cutting high transaction fees on workers’ salary.

Tips and donations

For giving increased transparency for non-profit organizations, donations can be visible for the public. Bitcore has been a particularly efficient solution for tips and donations. Sending a payment only requires one click and receiving donations can be as simple as displaying a QR code. In cases of emergencies such as natural disasters, Bitcore donations could contribute to a faster international response.

Micro payments

Imagine viewing web pages with a small tip for each ad not shown or buying bandwidth from a WiFi hotspot by the kilobyte. Bitcore is efficient enough to make all of these ideas possible. Learn more about the technology behind Bitcore micropayments or about future upgrades currently being designed and implemented to make micropayments more accessible.

Dispute mediation

Bitcore can be used to develop innovative dispute mediation services using multiple signatures. Such services could make it possible for a third party to approve or reject a transaction in case of disagreement between the other parties without having control of their money. Since these services would be compatible with any user and merchant using Bitcore, this would likely lead to free competition and higher quality standards.

Multi-signature accounts

Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This could be used by a board of directors to prevent any member to spend parts of their treasury without other members’ consent. This can also be used by banks to prevent theft by blocking payments above a threshold if the user does not provide additional credentials.

Trust and integrity

A future in which major banks would support Bitcore could help to reinstate integrity and trust in financial institutions. Bitcore offers solutions to many of the trust problems that plague banks. With selective accounting transparency, digital contracts, and irreversible transactions, Bitcore can be used as a ground to restore trust and agreement. Crooked banks cannot cheat the system to make a profit at the expense of other banks or the public.

Resilience and decentralization

Bitcore could represent an interesting step forward in securing local and global financial systems. Thanks to decentralization, Bitcore created a different type of payment network with an increased level of resilience and redundancy. Bitcore can handle millions of dollars in trades without requiring military protection. With no central point of failure such as a data center, attacking the network is difficult.