Imagine being able to own a share of all of the ATMs in the world and receive a dividend every time a transaction is made. While this might be a far-fetched concept in the real world, it could soon become reality in the world of cryptocurrencies.
Recently, cryptocurrencies like Bitcoin has integrated their way into our day-to-day transactions and the surge of many blockchain-based enterprises has changed the way companies operate today. While many of these companies focus on technology, Trilliant is among one of the few that create the hardware/infrastructure for this environment.
Trilliant envisions that in the near future, anyone can withdraw and deposit their cryptocurrencies at one of their next-generation terminals as simple as withdrawing money from traditional ATMs today.
In an interview with CryptoTicker at the C3 Crypto Conference, Sebastian Korbach, the CEO of Trilliant, shared some insights about the Trilliant ICO and how the idea of a “Fractional Ownership Programs for Cryptocurrency ATMs” works.
“Of course, there are also other companies that produce ATMs, but the only use for their tokens is to pay for the hefty transaction fees that users incur whenever withdrawing/depositing money from them. We don’t want to do such a simple thing – we really want to give something back.”
How It Works?
How Trilliant works is rather simple – whenever a new ATM machine is added into the system, it is divided into hundred accounting units, which will be sold on their official website like concert tickets. In turn, these units will give the investors a dividend of the total revenue generated by the operating ATMs.
“2% of the total revenue generated by our ATMs from transaction fees go to our unit holders,” said Korbach.
Korbach also pointed out that according to statistics from CoinATMRadar.com, on average, the ATMs that are at located good locations usually bring in $20,000–30,000 in volume per month. This revenue stream comes from the fee that ATMs charge for each transaction that is being made. The average fee that ATMs charge is 7%, but it can go as high as 10-12% in the U.S.
“Here at Trilliant, we are charging way lower than that,” Korbach clarified. “Plus, unitholders can also choose to be paid with fiat currencies or cryptocurrencies.”
To own or purchase a unit, investors will have to use the TRIL Token – Trilliant’s cryptocurrency that will be sold during the ICO. Upon purchasing these units, the investor is said to have signed a contract with Trilliant that is valid forever. Of course, if any investors want a refund, they can always sell their contracts in a secondary market – which will be introduced soon.
The total revenue generated by the ATMs ultimately depend on the number of ATM machines that Trilliant has in circulation. As the number of machines increases over the next few years, they will generate more and more in revenue and hence, the payouts that unit holders receive will see a similar increase as well.
When asked about his motivation behind starting Trilliant, Korbach gave a light-hearted chuckle.
“I’ve been in the crypto world for the last few years, and to me, I believe that crypto is the future. Moreover, we are looking at a market that has huge potential for cryptocurrency ATMs – recently, several governments have announced their plans to issue their own E-tokens, such as the E-Euros and the E-Krona. This will further accelerate the growth of crypto ATMs as there will be a need for people to be able to withdraw their Bitcoins from an ATM conveniently and efficiently.”
Trilliant is currently trying to acquire a banking license so that they can place ATMs everywhere. According to the whitepaper, Trilliant is planning to install at least 500 ATMs in the lucrative European market over the next 24 months.
If you would like to get in touch and understand more about the Trilliant project, feel free to visit their official website, trilliant.io, as well as their official Twitter account and Telegram channel.