Bespoke Token Payments and Loyalty Systems: COTI's Business Model and Partnerships

As part of its core business model, COTI is actively developing customized token-based payment solutions and on-chain loyalty systems for enterprises. COTI works with a variety of global enterprises to identify areas where blockchain technology can improve their strategies and help them achieve their objectives. In this article, we will go over COTI's ongoing engagements, as revealed by COTI's CEO, Shahaf Bar-Geffen, in a video released on Monday, April 17th. He mentioned some of the systems that are being developed, and we will share the names of partners where possible.

Partnerships in the Works

• Rudder Consultancy

COTI has a notable partnership with Rudder Consultancy, a specialized boutique consultancy firm based in Bahrain that assists businesses in adopting Web3 technologies to improve their operations. Rudder Consultancy aims to position its clients as market leaders in the future by leveraging blockchain technology's innovative capabilities. Despite the fact that it was founded in 2022, Rudder Consultancy has already established partnerships with high-profile clients such as Binance, Ancore Strategy, and the Economic Development Board of Bahrain, giving them access to a large global user base.

COTI and Rudder Consultancy were introduced at the #connect2innovate conference in Bahrain in March 2023, where COTI was chosen to present by Start-up Nation Central. This opportunity resulted in a partnership agreement between COTI and Rudder Consultancy. The collaboration aims to create a one-of-a-kind solution to the challenges that the music industry faces in tracking royalties, particularly in the Middle East and North Africa (MENA) region. COTI's Trustchain technology will serve as the underlying protocol for tracking and distributing music royalties in a more transparent and efficient manner than traditional systems.

• Gaming Industry

Another significant partnership for COTI involves a major gaming company, the name of which cannot be disclosed due to non-disclosure agreements. Shahaf Bar-Geffen only revealed that this company is one of the largest online gaming companies in the world, with millions of unique users and significant annual revenue. He went on to say that COTI has been working on a Private Payment Network (PPN) for this partner that will be built on top of their existing infrastructure. The PPN will enable COTI's partner to establish and manage their own blockchain-based payment system within their environment. According to Shahaf, the PPN includes a branded CMD token on top of COTI's Trustchain that is pegged to a local fiat currency and will be used by up to 1 million users to pay for services within the environment. The enterprise partner will benefit from the flexibility of COTI's PPN and the branded payment tokens in a variety of ways, including reduced operational costs and access to emerging markets with limited financial infrastructure.

COTI's PPN also includes a powerful back-end administrative platform for accepting payments across multiple blockchains using COTI's Bridge 2.0 technology, generating and controlling the payment token's circulating supply, and monitoring, accepting, rejecting, and refunding payments in real-time across multiple blockchains. The CEO stated that once the platform is operational, the enterprise will pay Native $COTI for all network transactions, including deposits, withdrawals, and transfers, to cover the cost of actions performed through the crypto gateway platform. This will provide COTI with a steady stream of revenue, and Treasury participants will benefit from the increased fees flowing into the Treasury.

• Agoda (booking.com)

Shahaf also disclosed that last year, COTI signed a research MOU with Agoda, a subsidiary of Booking Holdings and one of the world's largest travel agencies. Agoda is regarded as one of Asia's leading travel-tech companies, with millions of registered customers selling vacation packages to over 200 countries worldwide.

While an NDA prevents him from disclosing specific details of the MOU and the solutions being discussed, the team is excited about the scope of this project.

He went on to say that, despite the immense potential of such a collaboration, the team believes that current market conditions make such a collaboration less feasible in the near future. He promised to stay in touch and to provide updates whenever possible.

• Unnamed Major Israeli Bank

The CEO also revealed that COTI is currently in talks with one of Israel's largest commercial banks about conducting a pilot as a prelude to the possible launch of a stablecoin pegged to Israel's local currency (NIS). He stated that if this stablecoin is launched, it will eventually serve as a major form of payment currency in Israel's economy. Shahaf added that because this is potentially the first Israeli stablecoin to be commissioned, the process will be lengthy. He stated that he will provide additional updates as the discussions progress.

• Unnamed IT Outsourcing Firm

Shahaf also revealed that COTI has identified one potential partnership with an unnamed US-based IT Outsourcing and software development firm. He also stated that COTI will look to integrate blockchain into the company's CRM as part of a recently signed MOU. This company will be able to offer loyalty token solutions to their many clients all over the world by utilizing COTI's infrastructure.

• Unnamed Major Israeli Medical Institution

The CEO also revealed that COTI is looking into collaboration opportunities with a major Israeli medical institution known for its excellence in healthcare services and for conducting cutting-edge research and clinical trials in collaboration with global institutions. He stated that COTI is in talks with the hospital about potential solutions such as a decentralized network for collaborative research applications and a private payment network (PPN) for hospital staff and patients.

Summary

Shahaf has revealed that COTI's Business Development team is actively engaged in discussions with numerous other institutions and businesses across various industries, including a Middle Eastern bank and an Asian e-commerce business, among others. COTI plans to provide updates on the progress of these partnerships in future communications.

Shahaf shared his excitement about the potential of these partnerships to drive the growth of their innovative technology. Their customized PPNs have been proven to solve operational challenges and generate cost savings for businesses. COTI looks forward to the progress of these partnerships and plans to share updates as more partnerships are added to their list.