Tibado is cash in the form of ‘coins’ that are like physical coins, they’re just digital!
You can send them to, and you can receive them from, anyone. The actual coin is a small data file but you’ll normally see them in a barcode. (Geek Alert: Tibado coin images are .png files). Because the coins are in image files, you can send and receive them across virtually any social media platform, as well as by email or text message.
Coins can only be spent once, so the first person to present a coin to the system gets the value! To manage and store your digital cash, you can get a ‘pocket’ from the Google Play Store. (the iOS version is currently cooking in our kitchen . . .)
Pockets start life empty and you then add coins to, and take coins out of, your pocket.
Putting a coin in a pocket presents it to the system, validating and refreshing that coin – and a brand new coin is made by the system every time you take some of the value out of a pocket.
Keeping your Tibado value in a pocket makes it safe, as you can use PINs, passwords, fingerprint checks and so on to manage access to your pocket.
So the digital economy just got a bit more digital, with digital cash making value transfer to and from anybody, any business or anything (IoT anyone?) quick, easy – and free!
Tibado is a digital cash architecture. It will enable services to be brought to market that closely mimic the characteristics of physical cash including zero transaction fees and it is a multi currency product designed to be used globally.
‘Consumers and merchants will quickly ‘get’ the fact that Tibado is cash - it’s just digital! So they will start to us digital cash as soon as that makes sense to them - remember all they have to do is ping someone a coin!