TRON releases more information for their upcoming crypto card


TRON ($TRX), recently released more information about their upcoming crypto card which includes pre-order dates, cost and more. The pre-order date and time for the GRID X BitTorrent crypto card will be live on Feb 18, 2019, at 8 PM UTC. The GRID crypto card has been announced as a prepaid card which can be loaded with Tron (TRX) in three amounts: –

  • 15,000
  • 50,000
  • 100,000.

BitTorrent (BTT) tokens will be awarded in varying amounts to owners of the cards who will also be rewarded with monthly airdrops of BTT.

GRID overview

GRID is designed as a single-use card, meaning that it cannot be reloaded with TRX after it is purchased. Even though owners will be rewarded with airdropped on a monthly basis, the total amount of BTT received will drop as TRX is spent without an ability for the owner of the card to increase the amount of TRX on a single card.

In other words, the amount of crypto that you will have within the card will grow overtime, but you won’t be able to reload the card.

If no funds are spent the rewards will continue to grow at the same rate. Given these restrictions, GRID may develop use as a cold storage wallet to be used for investing rather than as a crypto card to be used for spending TRX and BTT as currency.

Think of it as a savings account.

gridcard

Tron Cards

GRID is one of two crypto cards built using the Tron network. The first, TronCard, was designed as a tangible TRX wallet. Both TRX and TRC10 tokens, which are tokenized assets for decentralized applications (dApps) built on the TRX network, can be held with the TronCard the same as a virtual wallet. There is also a QR code which can be scanned to access the public key so that the physical card can be integrated within a virtual wallet.

TRC10 Tokens are like ERC20 Tokens. Where ERC20 tokens are built on the Ethereum (ETH) network, TRC10 tokens are built on the Tron (TRX) network.

The TronCard was developed by Poppy which received seed money from SEEDGerminator. Poppy has also created an update for the Clover cloud-based point-of-sales (POS) system.

Both TronCard and GRID, also developed by Poppy, can only be used at locations which are using Clover POS systems with the Poppy update. While this may limit the overall ability for full integration of TRX or BTT into society, it does offer the possibility for a small push for adoption of cryptocurrency.

SEC involvement

If TRX and BTT are able to be successfully used as currencies within daily transactions at brick-and-mortar businesses, it will showcase the ability for cryptocurrencies to be used as real currencies. This might lessen the chance of the SEC filing actions against TRX and BTT. Much of this, however, might depend upon whether or not the SEC formally classifies KIN as a security.

If the SEC upholds the distinction between currency and security, and the TronCard or GRID is successfully used over a sufficient period of time, the Tron Foundation may be free from the scrutiny of the SEC. Of course, all of this is speculative and based upon a series of events that have yet to unfold.

 


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Edith Muth

Edith Yue is CryptoMeNow's analyst. She loves to do intensive research on how blockchain will make an impact in our society. You can contact Edith at Edith@cryptomenow.com

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