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December 16, 2017, 05:37:36 PM |
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Hi everyone,
I'm working on a coin that aims to bring the Algerian Dinar online. DZcoin is not really an alternative to bitcoin in the sense that it is not global and the supply generation is not fixed by the algorithm. Instead, DZCoin is meant to be transparently controlled by the Algerian central bank by fixing the exchange rate and controlling the supply, just like the DZD.
The main motivation is that only a tiny number of Algerians are banked and a even smaller number benefit from a decent banking service (my intuition is that 90 percent of the economy is cash based).
Moreover, many governments are expressing desire to make their own national cryptocurrencies, which they should not be allowed to do because most probably these currencies won't be transparent. This kind of national currencies must be created by the public and deployed in a bitcoin-like public open transparent manner where everyone can monitor it. For example, the public can detect dishonest currency manipulations and malicious financial transactions made by the government (and anyone else) and decide how to react to them.
I think we have to be the ones who implement such coins before governments do. At least we can gain momentum and adaption before they get in with their closed non-transparent coins.
Thoughts?
Salim Massinissa
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