If you’ve been keeping up with the financial headlines, you might have heard about giant companies like JPMorgan, Samsung, Facebook, and Mitsubishi UFJ Financial Group (a.k.a. MUFG, Japan’s largest bank) seeking to create their own blockchains and cryptocurrencies.
You may have also heard about an emerging leader in providing branded digital tokens for large organizations: it’s a company known as ICOx Innovations Inc. (TSX.V: ICOX, OTCQB: ICOX), and they’ve already partnered with big companies like KODAKOne and GunBroker.com to develop token economies tailored to those clients’ specifications.
ICOx has serviced these clients, providing both the expertise of this premier team of blockchain developers and the complex infrastructure required to set up and maintain a branded digital token economy. Their newest project, however, is ICOx’s most ambitious to date.
Cathio is a public benefit corporation founded specifically in service of the Catholic economy. Cathio’s objective in working with ICOx is to apply blockchain technology to offer an easy-to-use payment solution that responds to the needs of the Catholic community, nonprofits, and institutions.
Cathio’s vision of a global payment network means that people will be able to send money around the world to family members and organizations with lower transactional costs and enhanced security compared to old-fashioned payment methods.
The Catholic community is also known for their generosity, and Cathio’s easy-to-use Web and mobile tools will make the donation process quicker and easier than ever. By facilitating Cathio’s blockchain-enabled transactional system, ICOx is connecting faith-based charity with an ultra-efficient modern payment platform.
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ICOx Innovations President Bruce Elliott and his team are unreserved in their enthusiasm for this historic collaboration: “We are excited to announce Cathio, which will provide the first of its kind payment, remittance, and funding platform that will enable the Catholic economy to save money and position it to provide greater transparency of financial transactions and to connect the Catholic community.”
Equally enthusiastic is Cathio CEO Matthew Marcolini, who had no qualms in choosing ICOx to effectuate Cathio’s blockchain build-out: “ICOx Innovations is a known leader in building blockchain solutions and working with brands to design, build and manage their digital currencies. We know building out the Cathio platform with ICOx will transform the way the Catholic economy moves money.”
Cathio CEO Matthew Marcolini. Courtesy: Christendom College
The size of the Catholic economy must not be underestimated: there are approximately 1.3 billion Catholics worldwide, according to the Fides News Service, and the Catholic Church runs 5,500 hospitals, 18,000 clinics, and 16,000 homes for the elderly and those with special needs, according to Inquirer.net.
Catholic charities consistently rank among the most generous, as reported by EpicPew.com, and Cathio’s blockchain-powered donation platform is poised to revolutionize the act of giving. To facilitate the transition from fiat to tokenization, Cathio’s executive team, led by Marcolini and co-founder Ryan Thomas, brings a wealth of business, technological, and philanthropic expertise with strong ties to the Catholic Church.
As a result, a number of noteworthy customers have already agreed to be early adopters of the Cathio payment, donation, and remittance platform. These include The Dominican Foundation, Christendom College, The Trinitarian Order, and the Center for Evangelical Catholicism.
With a potential user base of over a billion Catholics and growing, the Cathio rollout represents a new frontier in blockchain adoption and a project of epic proportions. Guiding Cathio every step of the way is ICOx, the blockchain-building team as bridges are built among the faithful and the financial.
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Disclaimer ICOx Innovations Inc. (the “Company”) for Forward-Looking Statements
This article contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the author believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this article include statements regarding: the adoption and implementation of digital currency by large corporation; the Company’s status as a leader in the digital currency sector; the potential benefits of the Company’s products and services; the benefits the Company will receive through its relationship with Cathio; and the current state and projected growth of the blockchain industry. The forward-looking statements reflect the author’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the author believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include: changes in growth and size of cryptocurrency and blockchain technology market; attitude of corporations toward cryptocurrency and blockchain; business and consumer acceptance and adoption of cryptocurrency as a viable means of payment; the extent to which blockchain technology will be internationally implemented; potential changes for retail transactions involving cryptocurrency; the continued growth and success of the Cathio token; the continued preference of millennials to use app-based payment methods; changes in market conditions and other factors beyond the control of the Company.
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