A FAQ has been set up since there were still some questions to be answered. We hope this explains everything.
Q&AFifty percent of the Electronic Gulden is premined. Why?Fifty precent of the Electronic Gulden will be given away to Dutch households. The main reason for this is to distribute the Electronic Gulden into the Netherlands, as it is a dutch project.
By giving away such a significant amount we expect to achieve massive adoption to the coin in the long run. Also, this is a great way to educate the public about cryptocurrencies. It is an incentive for the general population just like the block reward is for miners.
I am a Dutch citizen, how can I redeem my share of EFL?This has to be done using our "Verified Proof of Residence" system (e.g., 2 utility bills no more than 3 months old, other charged bills are also allowed). Verification is required so that people are not able to double claim their share of EFL. The system is currently being developed and we will announce it in the near future.
Why did you choose for a Proof of Residence system rather than letting people verify themselves making use of their identification card or online identification (DigID)?The main reason for using a Proof of Residence system is privacy. We believe, especially in times we currently live in, that keeping the privacy of people safe is one of the most important factors. The chances for our distribution to work are bigger when using a Proof of Residence system.
When is this premined distribution system going live?Currently we are still working on finalizing the verification system. We will make an announcement on the Bitcointalk forums as soon as we have a date set for the distribution system to go live.
There are around 7,3 million households in the Netherlands and there are 10.500.000 premined EFL to be distributed to these households, that would mean 1.4 EFL each share right? That's not much.There are around 7,3 million households in the Netherlands. However, this does not mean that 7,3 million households will be able to redeem their share of EFL. We will distribute 25 EFL to each household untill all shares are distributed. We have chosen for a share of 25 EFL, in order to reach and trigger our target audience to claim their EFL.
It sounds like quite a job to verify all these households. What's your take on this?We are still living in a early cryptocurrency adaptation stage. Not everyone will redeem their share at the same time. Our team is going to work in different stages in which people will be able to redeem their share of EFL. This means distribution is spread over time and our verification process is more organized.
Can you show us where the premined coins currently are? I'd like to trace the distribution.All the premined EFL can be found in this adress: LTxtTPdMYeDhF9rY8GWKiKesGUaJV5qW4u.
Currently the Block explorer is not running yet, but we will make sure it is within a few days.