TokenCard is a debit card usable at payment terminals around the world, including ATMs. TokenCard customers back/fund their own card with allowances from ERC20 compatible contract wallets. At launch, TokenCard will allow users to fund their card with ETH, TKN and up to five of the following tokens that will be elected for inclusion by the community: REP, MKR, DGD, ICN, MLN, GNT, 1ST and SNGLS.
Over the years numerous attempts have been made to bring cryptocurrency to the masses yet adoption is still slow and cumbersome. These companies and projects have failed to identify and address the main issues present in making mass adoption of digital assets possible. The core issues remain:
1. Security, storing assets is cumbersome and inevitably people choose to store their assets under a third party’s control, like an exchange. This defeats one of the greatest properties of cryptocurrency, and exposes them to risks that have consistently proven to be catastrophic. A system is needed that can securely store assets without compromise on usability.
2. Usability, numerous steps are often involved in seeing real use of one’s digital assets. A user needs wallets, exchanges and accounts on various services. They are required to withdraw, deposit, do KYC and even become amateur traders. A system is needed that eliminates these steps, and offers a seamless plug-and-play experience for the uninitiated that can be integrated across platforms.
3. Volatility, forcing people to use a volatile asset like Bitcoin is a no-go. The people have spoken, and it deters more than it attracts leaving only a risk-taking fringe. A stable, more diverse asset class is needed. Through the game-changing power of Ethereum we now have the tools at hand to create a distributed banking replacement for the post-bank era that promises to solve these problems and in the process outperform traditional banking counterparts in flexibility, efficiency and transparency.
The Token and TokenCard platform proposed in this document strategically targets and solves these issues and will position itself at the heart of the effort to facilitate the mainstream adoption of the compelling Ethereum Ecosystem and dominate this next phase in financial history.