TEEcoin (TEC) is an exchangeable currency for many cryptocurrencies with the aim to solve the inability to use cryptocurrencies by merchants. TEEcoin seeks to top-up TEEcoin with other cryptocurrencies and acts as a rewards platform. Also, TEEcoin aims to offer low service fees and fast processing times to perform payments quickly and smoothly. TEEcoin is the token of the TEEcoin platform.
According to the whitepaper, there are problems with merchants, general users, and cryptocurrency users that the platform aims to solve.
Problems Faced by Consumers
There are several problems faced by merchants, such as:
As a solution to the problems faced by merchants, TEEcoin optimizes their marketing results by sending e-coupons to selected users increasing the conversion rate and enhancing ChatTee's Online-to-Online (O2O) token economy. ChatTee is an app that allows users to save TEE coins, make payments, and exchange rewards.
Furthermore, TEEcoin offers a solution to the problems faced by general users by enhancing the reliability of reviews. In addition to this framework, TEEcoin attaches the hash value of a user's review contents to the blockchain, checking for falsified or manipulated reviews. After checking reviews, a review score is created, and the trustworthy reviewer is rewarded with TEE coins.
The platform also offers a solution to the issues faced by cryptocurrency users by:
TEEcoin wallet can be topped-up with TEE coin from cryptocurrencies without using cryptocurrency exchanges. The converted TEE coins can be used to make payments at merchant stores or to purchase e-coupons within ChatTee.
