Centrality is a venture studio that collaborates with top innovators in diverse industries to develop an applications marketplace. We’ll discuss the functionality and use cases of this token in detail
Features and Use-case of Centrality Token
Applications built on Centrality allow users to handle typical everyday tasks using peer-to-peer transactions through a single login using blockchain technology. Centrality is one of the leading blockchain venture studios globally. It is made up of a team of 75 members located in various parts of the world like Melbourne, Singapore, Auckland, and London. They are a global network of developers and investors who are driven by a strong vision. The company’s vision is to help the world move to blockchain technology and benefit from it.
Other Blockchains usually raise funds using ICO and then by selling those tokens they raise the capital to finance their projects. Notably, Centrality already had 20 applications in use generating significant value, even before their token sale. The applications built on the Centrality platform work together to help each other grow, building a one of a kind application marketplace that uses the CENNZ token.
CENNZ token is a regulated legal entity structured in line with New Zealand and Singapore laws. It has a board that has worked with several local financial markets and tax experts such as Bell Gully and WongPartnership to ensure compliance while delivering an effective system.
CENNZ is a utility token used to connect applications in the marketplace and also to provide access to the Centrality software. Applications use CENNZ tokens to purchase modules needed to build and integrate their platforms. The applications use the tokens to reward users for participation. Applications also use the CENNZ tokens to reward referrals who invite users from other platforms. Users receive the tokens from different applications and add to their token portfolio. The tokens are not mineable; they are only minted and earned. As more applications are built and more people use the platform, the demand for the token rises.
CENNZ token can be used in the marketplace to purchase physical goods in the real world through the network of merchants connected to the CENTRAPAY platform. Typical scenarios during which this happens is when checking out on the web or with the traditional point of sale (POS) system. The token can be traded/exchanged on the SingularX decentralized exchange and Cryptopia cryptocurrency exchange. CENNZ is an ERC-20 token and so it can be stored and transacted with from several compliant wallets. Myetherwallet, MetaMask, Misky, Parity and Trust Ethereum wallets are some of the software wallet options available.
Centrality is a decentralized ecosystem that connects with diverse applications to communicate with each other with the help of blockchain technology. So, this platform is one to be watched closely for future innovation and development and it could outperform many other utility tokens in terms features and functionality.