Ghita said the decentralized exchange platform, known as UPX, will allow customers to trade popular cryptocurrencies such as Bitcoin, XRP, Ether, Litecoin and Dash with fiat, would allow them to mine coins, and would offer a debit Mastercard.
The exchange is distributed and stored in data that resides on member devices across the network, thus maintaining decentralization, and customers of UnitedCoin can conduct peer-to-peer transactions and exchange traditional currencies or cryptocurrencies with one another.
Ghita says that the exchange, which is fully compliant with the Securities and Exchange Commission, is currently in beta but would be launching in full early next year.
“We’re building a community that would hold this blockchain. It would not be controlled by any entity,” she said.
“The main component is to maintain compliance,” she said. “To move with the regulation. We’re growing organically and the exchange is fully compliant with the Securities and Exchange Commission. We’re currently in our funding stage”.
The 30-strong UnitedCoin team is also aiming to make using cryptocurrencies much easier, aiding adoption and real-world use.
“We are creating an ecosystem that includes an educational part. Our target is [to help] all individuals, everyone curious about new technology and blockchain.
“We want you to send your mum Bitcoin,” she joked. “The idea is to have it mum friendly. They’re the busiest people in the family. They have little time to discover new things. If it’s easy for mums to adopt it’s easy for everyone to adopt.”
Ghita says the UnitedCoin blockchain is a hybrid proof of stake and proof of resource framework that is capable of one million transactions per second, depending on the size of the community.
She said ultimately UnitedCoin is looking to raise $250 million which it will use to apply for a banking licence.
To find out more about UnitedCoin watch the interview with EAK TV.