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What is ABBC Coin?
ABBC coin is a utility token that is used within ABBC Foundation, a global online retail platform focusing on the MENA region and aiming to provide its users with the possibility to make online purchases using cryptocurrencies.
Full description of ABBC Coin
ABBC
Coin (?) is a utility
Token (?) that is used within ABBC Foundation, a global online retail platform focusing on the MENA region and aiming to provide its users with the possibility to make online purchases using cryptocurrencies. The project targets to give its users “the future of payment security”.
Established in January 2018, ABBC Foundation is located in Dubai, UAE. Also, the company has offices in Minsk, Belarus, that is famous for its benevolent attitude towards new technologies in general and
Blockchain (?) in particular. The main goal of the whole enterprise is to unite the world trade industry with the help of blockchain technologies.
One of the key features that ABBC provides is the possibility to verify payments via facial recognition. A program scans biometric parameters of a human face, creates its 3D-model and saves it in the cloud. Similar technology is utilized in the Apple iPhone X smartphone: a smartphone is unlocked automatically once brought close to the face of its verified owner and remains locked if someone else tries to take it over. For greater security, personal data is deleted automatically once the payment is complete to avoid the leakage.
The online retail process on ABBC works in the very same way that it does on any other traditional retail platform. The only difference is that there is a possibility to pay with cryptocurrencies along with traditional means of transferring value. In order to make purchases, users have to open a multi-currency
Wallet (?) Simple Token Wallet that they use for payments after that. Users can pass facial and fingerprint verification by desire. ABBC platform sets small and medium marketplaces as its key target audience. In the second place, the project looks up to publishers and advertisers searching for innovative ways to buy and sell relevant traffic.
Initially launched as a
Fork (?) of Bitcoin in late 2017, the project switched to EOSIO in June 2019 to overcome the scalability issues associated with BTC. ABBC has eventually released its own open-source blockchain. In consists of an unlimited number of nodes, of which 21 are selected to be active
Block (?) producers. Just like in EOSIO, new blocks are produced every 0.5 seconds and there are no transaction fees. Such an approach allows ABBC to achieve scalability and handle up to 5,000 transactions per second. ABBC coins are available for trading on many reputable exchanges such as Bithumb, Bitmart, Coinbene, and Coinall and can be stored on the platform’s native wallet.
The project’s Founder and CEO Jason Daniel Paul Philip created the first draft of the project himself. Prior to ABBC, he worked for almost 6 years as CEO at Elcotel.
ABBC coin was formerly known as Alibabacoin Foundation. However, it conducted rebranding in March 2019 after the legal action taken by the Chinese retail giant Alibaba Group. The event was strongly discussed on the web with the disputers talking about ABBC mostly in the negative clue naming the project a scam. Also, there have been other scam projects that looked as ABBC clones and attacked users mainly via phishing emails. The company posted a warning about phishing attacks in its Twitter.
- Exchange symbol (?): ABBC
- Cryptocurrency type (?): Token (?)
ABBC Coin for developers
ABBC Coin social sites
Source: NOMICS