Cryptocurrency Debit Card Aims to Harnesses AI to Let User Spend/Use their Cryptocurrency
The increasing ability to pay for products and services using cryptocurrency debit cards is a physical representation of the rise in crypto popularity. However, they are still relatively rare and at times complex; with so many cryptocurrencies available in conjunction with market volatility, it can be difficult for traders to know how best to utilize the contents of their cryptowallets when making purchases.
Amon is a financial cryptocurrency platform that looks to solve this issue using their unique payment card which utilizes artificial intelligence (AI) to ensure that users get the best value from their crypto-wallets with every purchase. Their whitepaper claims that they are the only platform which enables users to use their most valuable cryptocurrencies for purchases in real time. Amon also offers their own unique Amon tokens (AMN).
Three purchase methods
Amon card holders will have three purchase methods to choose from. The simplest is to instruct the wallet to allows pay with a single currency (for example, someone who is only interested in Bitcoin). The second is to personally select which of your currencies to use after swiping the Amon card. The third brings into play the unique Amon Artificial Intelligence Aystem (AAIS) which will select the best currency to use in real-time on a per transaction basis.
Amon’s whitepaper uses the scenario of buying a coffee using the Amon card as an example. The AAIS algorithm will analyze the user’s crypto-wallet and decide the current best performing cryptocurrency, taking into account factors such as historical data and user risk profile. The algorithm displays to the user the crypto with the highest value to them at that point. The user can then decide to accept the suggestion or pick another currency to purchase the coffee with.
Partnership and tokens sale
When it comes to security, traders can be assured by Amon’s partnership with established cloud platforming company Ixonn and audits by Econocom Group. Amon has also partnered with Daneel, which runs web-crawls to assist traders in investment decision, and CognitionBox, a trading algorithm company helping to develop AAIS.
Amon also claims that they are set apart from the competition by their 24/7 ‘premium’ customer service; something that they claim is sadly lacking in the cryptocurrency industry as a whole.
The Amon private ICO will begin on March 1 2018 for 24 hours (1 AMN = $0.05), but in order for traders to take part they must subscribe to the whitelist by Feb. 2. Joining the whitelist will also give traders a 25 percent AMN token bonus, and a free Amon Gold Card . The first public ICO will follow on March 4, where the token bonus will be reduced to 15 percent.
Looking further ahead, Amon are looking to release the Amon wallet to the public in Q2 2018, followed by obtaining an e-money license and wallet decentralisation in Q3. Their aims for market share are to have 3 percent, 5 percent or 7 percent (negative, realistic or positive estimates respectively) control during the first year.
The team behind Amon are diverse in background and experience. Amon’s four co-founders are from Italy and Australia, and also have team members from France, Spain, Ukraine, and the US. CEO Daniele Izzo previously co-founded another platform for the legal marketplace, AvvocatoFlash, with two of Amon’s other Italian founders, Valerio Sudrio (CMO) and Cristian Izzo (CTO). AvvocatoFlash has thrived in the Italian marketplace, with over 5000 lawyers involved and more than 20,000 legal cases dealt with per year.