Topic: Calling all Ideas: New Proof of Stake & Location CryptoCurrency (Read 682 times)
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6 of the top 10 countries with the highest economic growth are in Africa. Indeed the developing world is experiencing unprecedented growth enabled in part by digital currencies such as M-Pesa in Kenya.
Whive would like to build a hybrid proof of stake and location crypto currency targeted especially at the developing World.
The main aim of this currency should allow for access in the lowest digital form available to man an reachable by the developing populations of 5 billion people.
The secondary aim of this currency is to be easily interchangeable with other commodities i.e. Digital Assets such as Bitcoin in a decentralized manner to allow for easy distribution amongst various social groups. There is a huge opportunity to support various sectors such as health, investment, land and business through smart contracts.
The third aim is to have at least 30% of stake in this coin distributed amongst the developing regions of the world through a concept we are calling proof of location i.e. by making it cheaper to stake in those regions. e.g. If you stake the coin in Europe, North America, Australia, Japan you get less reward then those staking in Africa and South America. This will be determined by an algorithm to be built into the core code changeable only by 51% consensus.
Other key elements of this coin are innovation in portability and transferability through SMS and Various Social Media platforms. We are not so keen on anonymity as we will be relying on Bitcoin and any other dominant third currencies for off ramping into the real world. Our coin is intended to be light and to supports localized ecosystems without introducing any sort of bureaucracy or external processes that will just complicate matters.
We have already acquired all key digital assets and are good to go. What we need from the crypto family here is:
We do not intend to pre-mine or pre-sale or IPO our idea as we believe our idea has enough potential to be proven initially in concept stage. We want to avoid at all costs pump and dump situation that has affected other coins.
Our motto is fail fast, fail forward as all our ideas listed above can be development in a fairly short period of time estimated a 2-3 months by the right founding team.
If you wish to contribute to our whitepaper, coin specifications and technical design hit me up on @Whive on Twitter or in PM here and I will get back to you asap...
Whive would like to build a hybrid proof of stake and location crypto currency targeted especially at the developing World.
The main aim of this currency should allow for access in the lowest digital form available to man an reachable by the developing populations of 5 billion people.
The secondary aim of this currency is to be easily interchangeable with other commodities i.e. Digital Assets such as Bitcoin in a decentralized manner to allow for easy distribution amongst various social groups. There is a huge opportunity to support various sectors such as health, investment, land and business through smart contracts.
The third aim is to have at least 30% of stake in this coin distributed amongst the developing regions of the world through a concept we are calling proof of location i.e. by making it cheaper to stake in those regions. e.g. If you stake the coin in Europe, North America, Australia, Japan you get less reward then those staking in Africa and South America. This will be determined by an algorithm to be built into the core code changeable only by 51% consensus.
Other key elements of this coin are innovation in portability and transferability through SMS and Various Social Media platforms. We are not so keen on anonymity as we will be relying on Bitcoin and any other dominant third currencies for off ramping into the real world. Our coin is intended to be light and to supports localized ecosystems without introducing any sort of bureaucracy or external processes that will just complicate matters.
We have already acquired all key digital assets and are good to go. What we need from the crypto family here is:
- A team of Key developers experienced in key tech components such as Crypto, messaging, wallets, website as well Identity experts.
- A financial expert to help structure our financing and rollout. We intend to have 5 billion coins with 4 denominations with the smallest unit being 0.0001.
- We have marketing aspects covered.
We do not intend to pre-mine or pre-sale or IPO our idea as we believe our idea has enough potential to be proven initially in concept stage. We want to avoid at all costs pump and dump situation that has affected other coins.
Our motto is fail fast, fail forward as all our ideas listed above can be development in a fairly short period of time estimated a 2-3 months by the right founding team.
If you wish to contribute to our whitepaper, coin specifications and technical design hit me up on @Whive on Twitter or in PM here and I will get back to you asap...
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