Creatanium: Currency for Users, Asset of Investors
Singapore, August 2019
The official opening of the new high-tech Funan Mall at the end of June in Singapore marked another milestone towards the smart nation. For the first time in history, shoppers were given the option to use a digital currency in alternative to the other traditional e-payment methods to purchase their meals and drinks. Creatanium made it possible through a user-friendly mobile app with QR Scan&Pay function and the integration of blockchain with the self-ordering kiosks available at Funan’s KOPItech food court.
Creatanium is a brand that includes a cryptocurrency, an e-wallet and a crypto exchange platform, all linked together by a proprietary blockchain protocol that has already won international recognition after becoming the technology of choice in Indonesia to modernise and reshape the logistics sector of the whole country. The concept of this ecosystem has been gradually developed piece after piece with the final goal of making digital tokens a credible alternative to fiat.
Steep fluctuations, pump-and-dump speculation and lack of backing assets contributed to create general mistrust of digital currencies, perceived by the public more as a niche for tech geeks than as a realistic mode of payment. Through roadshows, booths and its own Academy with branches among the region, the Creatanium team has actively engaged the public to create awareness and openly address controversial questions about security, accountability and the feasibility of mass adoption for digital tokens among the others.
Crypto users today are required to download several apps, create multiple accounts and go through repeated rounds of background checks (KYC) to purchase, trade, use or sell tokens. The Creatanium ecosystem is based on a user-friendly platform that collects and stores all data, including the digital coins themselves, in a centralised and closed system that is secured against hacking through multiple layers of protection and regular safety audits.
CMBDEX, the ecosystem’s own crypto exchange, has brought Creatanium one step closer to the still unachieved goal of mass adoption by ensuring the stability of the digital coin against speculation. The platform is the first in its kind to have implemented measures to keep variations between buy and sell orders within certain percentages and cap the maximum amount for daily, weekly and yearly withdrawals. This decision to put the interest of token owners ahead of profits has been positively reflected in market confidence with the gradual appreciation of Creatanium, which is now heading towards 2 US dollars.
Stability is not the only reason behind Creatanium’s success as a durable asset. Whereas Bitcoin is purely virtual, the Singapore-made token is backed by a multimillion blockchain company cashing on its own protocol and by a diversified and increasing number of collaterals that give it real and tangible value. If online-based ICOs or mobile wallets registered in offshore tax havens can easily vanish together with their users’ digital coins, PLMP Fintech, the firm behind the Creatanium ecosystem, has earned the trust of its investors through a physical presence across Southeast Asia with open offices and support counters.