Tron Machines – The ATM of Tron Network

Project Reviews / 10.03.2019

TRON protocol is one of the largest blockchain-based operating systems in the world, dedicated to the establishment of a truly decentralized Internet and its infrastructure. It is already among the top 10 global cryptocurrency and it is exhibiting rapid growth, thank to some key features worth mentioning:

Ease of use: Creating an account on TRON platform is as easy as you could expect it to be. Anyone can create an account in less than a minute on TronScan to get started; no particular technical knowledge is needed. In addition, many DAPPs are launching their mobile wallets thus making it very convenient to use.

Leveraging Technology: Developers in TRON system are continuously working to provide user-friendly solutions. Recently, we have seen TRON based applications in to all kind of domains like games, casinos, music, entertainment, charity or social media.

High Liquidity: TRON is available in 160+ trading pairs across multiple exchanges, as per the latest CoinMarketCap data, making it practically available to everyone.

Speed: The transaction is lightning fast, which means it takes just a few seconds to transfer funds across the globe. Mobile, website, social media are a few platforms that can be used to complete a transaction.

Scalability: TRON platform has the capacity to process up to 748 TPS (transactions per second), while the current usage is approx. 20-25 TPS, which gives it enough space to accommodate future increase in volume and still maintain the current performance level.

Global Community: TRON has one of the largest crypto communities, as well as blockchain users. There are already 1.99 million accounts on its blockchain and increasing exponentially, (first million took approx. 6 months).

Ease of Creation: TRON protocol also provides an easy to use system for any project to create a Token on its platform. The cost for the same is also very nominal. This low entry barrier allows projects who have a great idea but limited resources to also get started and subsequently work hard to convert their idea into a working proposition.

While there are 2000+ projects already launched on the TRON ecosystem, we were pleased to find one project that is unique, as the field they chose to venture is the ATM business. With ATMs being a very common term among the all of us, there is only one player in the complete TRON ecosystem leveraging this huge business model: TRON Machines

What is Tron Machines and How Does it Stand Out

ATM does not need much explanation, as we believe everyone reading this article has already used it, but when it comes to ATM as a business model in the cryptocurrency domain, it comes with intrinsic set of opportunities and challenges. Let us first understand that before exploring the solutions Tron Machines are going to provide.

Tron Machines review 2019
Tron Machines Logo

Opportunity: The traditional banking ATM is a common tool used to provide financial liquidity and thus, it is a model accepted by all central and private banks. Just to give you a perspective of how huge the global spread is: the current count of ATMs worldwide has already crossed 3 million, which means there is one ATM per 3000 people. The operators can be banks, individuals or business, and the current level of earning is approx $ 5000-$6000 per annum from each unit, translating into approx $15 Trillion economy.

In comparison, when we look at the cryptocurrency domain the count of global crypto ATMs stands at 4390 only, spread across 77 countries, run by 546 operators. There are only 44 producers of crypto ATMs with the prominent ones being Genesis coin, General Bytes, Lamassu, Bit Access. The cost of the ATM machines ranges from $3000-$10000, and an operator can make income in the range of $10000-$30000 per annum.

Considering the above-mentioned numbers and the rapid pace at which blockchain acceptance is increasing, there is only one way to go and that way is a further increase. The whole market is technically up for grabs for crypto ATMs in terms of business opportunity; it is like entering an environment where everywhere we look, we will find opportunities. For the operators, it is also a highly profitable business model, with high ROI and a great tool to increase their business.

Challenges: Since we are at a very nascent stage of evolution of blockchain, crypto ATMs faces certain challenges, such as:

  • Regulation – having to get approvals from various regulatory bodies, fed, state etc. 
  • Legal license – which can be a very tedious and time consuming process.
  • Stringent KYC/AML compliance – which needs a proper system to be developed, managed, and thus cost resources.
  • Bank Relationships – The fiat conversion eventually needs a banking service and with many central banks not being pro-crypto, this again acts as a major bottleneck.
  • Location – Considering the current volumes, choosing the right location, which is cost effective, is important.
  • Type of ATM – Choosing the right type basis the cost-benefit analysis.

The Tron Machines Solution: TRON machines plan to leverage the huge opportunity we discussed earlier, by providing solutions, which will use state of the art technology coupled with community partnership and ownership.

To drive community ownership, the team has also launched a TRON based token called – TATM. TATM is a TRC10 token with a total supply of 10 billion. The distribution is in the ratio of 60% for the economy and available for the whole eco-system built out of DAPPs, 30% for TATM project development inclusive of research, development, deployment, resource cost, 10% for marketing and community engagement activities. Thus, TATM will act as the underlying asset for the complete Tron Machines eco-system.

TATM – Official Tron Machines Token ID

How is Tron Machines Going to achieve their Goals and Vision

Tron Machines plan to execute and deliver ATM solutions in a phased manner, spread across three phases:

Principium: Means beginning, this is where the complete eco-system of execution is planned, communities created, and ideas moderated. The major landmark of this phase is the development of TRON Machine Wallet. This will encompass the brainstorming of the concepts, design creation and development released to the community through pre-Alpha, Alpha, Beta releases, final deployment including playstore and iOS release and provisions for future upgrades. The wallet will act as the backbone of TATM economy.

Virtualis: This phase, as its name suggests, will be the virtual ATM creation phase. This, as a unique concept will help users become their own bank. A platform will be created at a stage that will be operational on any wi-fi enabled device and users will be able to identify these devices as ATM owners. This makes the business model scalable at a rapid pace and simultaneously providing an eco-system of helping the core business of the user by enhancing footfall and visibility. The owners will also be able to set up their own fee and thus create a consisting revenue stream as well. Additional features of decentralization will be built here through the voting mechanisms to choose which TRC tokens to be included in the exchange mechanism of ATMs.

Corporis: Which means physical is the stage when the deployment of physical TRON ATM machines starts. The machine shortlisted by the team is General Bytes: BATMTwo because of its compact size, easy UI, cost effective thus higher ROI, Easy extensions for adding TRC20 tokens, easy AML & KYC processes. This is the phase where TRON network takes a head-on challenge with the traditional banking players, eventually what is beneficial for the masses will prevail i.e.: the decentralized system. This phase is going to be implemented by 2021, according to Tron Machines newest road-map.

Closing Thoughts

With trillions of dollars available in this business model, it is a matter of time when we see many players venturing in this domain. TRON Machines has the first mover’s advantage and now needs to execute its plans at rapid pace to gain inroads in the market. Innovation will also play a key role in success in this domain. Ideas like cross chain remittances, atomic swaps, POS device integration, multiple FIAT options availability at international terminals of Air/Sea travel, cross border remittance mechanism etc. are few of the ideas that can help a project create differentiation for it and thus capture a bigger market share.
We are just at the beginning of a new age digital revolution and innovative projects like these are the flag bearers of converting this revolution into a new way of life.

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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.