I selected Titcoin as the Random Coin of the Day for its focus on making transactions in the adult entertainment…
I conducted an interview with Edward Mansfield, the co-founder of Titcoin Digital Currency.
Market Cap: Approximately $54,998.06
** We are not listed on Market Cap, so this is based on the last price on Allcoin (Aug 2nd)
Maximum coins issued: 69 Million TITs
Hash algorithm: SHA-256
PoW or PoS: PoW
Is it able to be mined: Yes
Exchanges: Allcoin; RockyTrade; Bleutrade; Kingcoiny
Block explorer: MeFound
Launch date: June 21, 2014
What is the coin's purpose?
Titcoin is a cryptocurrency that was designed specifically for the adult entertainment industry where privacy and anonymity are key consumer factors. Titcoin gives consumers the ability to make discreet micropayments while benefiting businesses with extremely low transaction fees.
What problem does it solve?
The digital currency market is extremely fragmented with only several major coins receiving most of the public attention. Unfortunately, these major currencies aren't widely endorsed by any identifiable industry which we feel is a major hurdle for widespread adoption. If there [were] ever an industry that could create some standardization in the cryptocurrency market, the adult industry would be the obvious candidate. Titcoin aims to target the $10 billion global adult entertainment industry, and unify this consumer market under a single currency.
Who are the developers?
Members of the core Titcoin team each represent a necessary discipline of every successful business - Marketing, Business Operations, Finance and Technology. Edward Mansfield is the [most] public-facing Co-Founder in charge of all marketing and social media efforts. Richard Allen works behind the scenes as the Co-Founder responsible for general business logistics and planning in addition to new business development. The third Co-Founder prefers to be a ghost due to his day job, but is otherwise responsible for all financial and investment decisions.
In addition to the three core founders, we have several technology-experts on board including a Russian (self-proclaimed) hacker who specializes in information security and back-end development.
What are the coin's future endeavors and how do they plan on achieving those goals?
Our first order of priority is to establish a solid infrastructure that will support healthy transaction processing in the long run. [That] includes partnering with key mining pools, currency exchanges and payment processors. We recently put all of these pieces in place [that] will allow us to focus on the [most] challenging task of convincing adult businesses to join the digital currency revolution. We've developed many relationships with key players in the industry over the last seven months since we first announced Titcoin in January 2014.
A huge part of our activities has been around educating adult entertainers and businesses on the benefits of digital currency... not just Titcoin. In fact, a few businesses we enlightened have already started experimenting with Bitcoin transactions. We've essentially assumed the responsibility of raising awareness on behalf of the entire digital currency community.
We recently have decided to keep most of our future activities under wraps because some of our competitors have historically imitated our business strategy and activities. Clearly our vision and ideas are our biggest assets. All I can say at the moment is we're focused on strengthening our relationships with other coin developers in the community in addition to key businesses in the adult industry. We're also looking at a number of speaking engagements to continue educating the public.
Is there anything else you'd like to say about your coin?
Titcoin is honored to be the only adult coin that has been featured in mainstream publications such as Vice Magazine, Gizmodo and Bustle. We are an independent team not affiliated with any adult enterprise which makes us trustworthy and unbiased. Our competitive strengths are in marketing and business development which are attributes sorely needed in the crypto-community saturated with technology developers, most of whom are very smart and great at their job, but lack the acumen to think about technology from a business standpoint. We are in essence bringing a fresh perspective to the digital currency market.
Disclaimer: I am not affiliated with Titcoin, and I do not own any Titcoins.
Photo Credit: Titcoin logo used with permission of Titcoin