The Crypto Peso or simply P$O, is a token on the EOS blockchain, based on the same technical characteristics of the EOS token itself, powered by EOS Venezuela Block Producer.
The technological platform of the Crypto Peso offers a modern economic system at the service of venezuelan citizens and the international EOS holders community.
The particularity of the P$O is that being an EOS-based token, all its transactions are free and almost instantaneous. Global and tradable on the crypto market, the entry pass of an economy of more than $200 billion dollars. These characteristics make the P$O a monetary unit as free and more scalable than cash, all the coin wedging and note bill impression costs disappears.
An Upgrade To The Economy
Fiat currency or fiduciary money (from the latin fiduciarĭus – fiducĭa “trust” y fides “faith”-) is the one which value is based on the faith and trust of the community, meaning that is not backed by precious metals nor anything else than a payment promise from the issuing entity.
Venezuela is currently going through one the worse institutional crisis since the creation of its Republic. The Venezuelan State has lost the trust of its citizens and the concert of nations. A fiscal policy full of vices had converted the local fiat currency, the Bolivar Fuerte, into a monetary unit almost with no value in the internal and external markets. Now, thanks to the precedent set by the Petro initiative, the first state-backed cryptocurrency in Venezuela, the Blockchain and Crypto technologies have been introduced, at least in concept, massively to the people in the country, legitimating the value of these technologies as a way to solve many of the challenges the Latin American economies faces.
So we start from the assumption that if there is no value in a traditional fiduciary currency like the Bolivar Fuerte, due to fail in the only argument that sustains it, the trust and faith in the current Venezuelan government, then is valid to seek other alternatives. The utility and technological benefit of a cryptocurrency it is now more than ever, relevant as an alternative economic model. A complementary currency that can be adopted as a popular medium of exchange among citizens, capable to fulfill the demands of an internal and external market, opening the door for the growth in the region.
The introduction of the EOS blockchain as a platform for development represents a great opportunity for Venezuela. In addition to offering a free and global impact economy, the EOS blockchain is a platform to redesign the interactions between the people and the political and economic affairs, a new paradigm of governance in the Blockchain. On EOS we can easily build a public voting system transparent, incorruptible and modern for the needs of countries like Venezuela. We reduce costs, modernize processes, undertake
high-value technologies and set a precedent in the uses of blockchain and cryptocurrencies that bring the most benefits.
A Smart Coin: The Crypto Peso
The Crypto Peso or simply P$O, is a token on the EOS blockchain, based on the same technical characteristics of the EOS token itself, powered by EOS Venezuela Block Producer. The technological platform of the Crypto Peso offers a modern economic system at the service of Venezuelan citizens and the international EOS holders community. The particularity of the P$O is that being an EOS-based token, all its transactions are free and almost instantaneous. Global and tradable on the crypto market, the entry pass of an economy of more than $200 billion dollars. These characteristics make the P$O a monetary unit as free and more scalable than cash, all the coin wedging and note bill impression costs disappears.
The Crypto Peso Smart Contract has been programmed to issue a total of one billion tokens, this total amount is immutable, it can not continue issuing PE$OS beyond this initial value, which makes it a system with 0% inflation rate.
Name: Crypto Peso
Blockchain Symbol: PSO
Total Amount of Tokens: 1,000,000,000.00 PE$OS EOS Ratio Distribution: 1:10 (1EOS = 10PE$OS) Max PSOS per user during distribution: 1,000,000 PE$OS PSOS per signed Venezuelan: 10 PSOS allocated to EOS Club memberships/operations: 30% PSOS allocated to EOS Venezuela/operators: 10% Smart Contract Account: cryptopesosc https://bloks.io/account/cryptopesosc
A Different Kind Of Airdrop
The Crypto Peso has a special distribution process, due to the mission of becoming a complementary currency to boost the economy in developing countries in Latin America, focused in Venezuela as a pilot program, every Venezuelan citizen who enrolls in the distribution receive an amount of 10 Crypto Pesos. The information of each user is collated with the National Electoral Registry to have control in the inscriptions and verify the Venezuelan identity of the user. EOS tokens holders also receive Crypto Pesos when enrolling in the distribution, through a Know Your Customer process which will be use for the administrative process and for EOS Venezuela use only. It will be in a ratio of 1:10, per each EOS token the user will receive 10 P$OS, with a cap of 1,000,000.00 P$OS max per user.
The Crypto Peso will also be listed on the Decentralized Exchanges (DEXs) that currently operate on the EOS platform, with the technical support from Block Producers such as EOS Venezuela and collaborators. Offering the benefits of accessing to the EOS market and other altcoins, in turn including the existing cryptocurrency market, dominated by Bitcoin, EOS, Dash, STEEM, Ethereum and others, in Venezuela and Latin America.
In order to reach a fast adoption of the Crypto Peso economy, it will also be given as an incentive for all new users of the crypto directory and business platform the EOS Club. Which will reward new business profiles that signs up to be part of the crypto economy, with an amount of 10 P$OS for registered companies and 5 P$OS for private individuals, during a limited time or up to 1 million registered users in the directory.
A Community And Ecosystem Of Value
For the Crypto Peso to be adopted as a currency of common use and high value, it must respond to the needs and demands of the community that is intended to serve. It is then how the most important thing in a first sense is to build that community. Thanks to its special distribution system, the Crypto Peso starts from the pocket of every user participating in the process. Airdrops are not free money, but a modern user acquisition cost system. The economy of P$O is a market valued in the number of its participants, in this case we speak of the opportunity to cover a country of 30 million inhabitants, inside and outside the national territory. In addition to the thousands or millions of EOS token holders who also want to claim P$OS during the distribution.
The phenomenon of the Venezuelan exodus in recent years, creates an opportune context for the introduction of the Crypto Peso, as a tool to send money from and outside of Venezuela, without fees nor limits and fast. An international medium of exchange which allows access to non-technical users to an entire global economy and the crypto market in general. Potentially we are talking about the addition of millions of users and value to the EOS and Crypto ecosystem which may result in benefits for the total market cap.
International remittances already represent a global market of millions of dollars, limited to banks, credit cards companies and excluding solutions for many Latin American users. In our case we see the opportunity to create a relevance and international market for the Crypto Peso, transcending the Venezuelan borders with a possible adoption around the Latin American region. The name “Peso” is a word already known and accepted for money and value, as many of the local fiat currencies of Latin American countries are named Peso. Giving a advantage to spread the brand among users and to be received with better eyes. The Crypto Peso could unify a Latin American effort to create an alternative and modern economy because they share much of their idiosyncrasy and development needs in the economic and financial aspects.
The Crypto Peso is also the native currency of the EOS Club, a network of Crypto users indexed geographically on an online map, where is promoted a commercial trade of goods and services platform based on cryptocurrency adoption. The Crypto Peso forms the economic unit of the network since with it you can pay for marketing and exhibition services in it. To attract the rapid adoption and use of the platform, it is intended to reward each new user with an amount of P$OS for registering their business in the directory. There is also a subsidy plan in commercial discounts that are made among the members of the community when they use the Crypto Peso as the payment method.
Thinking in the massive adoption of the Crypto Peso, its introduction in Venezuela will be hand in hand with a native mobile EOS wallet, to become an economy of easy access for everyone who owns a smartphone, a much more inclusive requirement than traditional banking. This wallet works with a system of Tellers, users who are willing to exchange EOS or Crypto Pesos for fiat in their locality, in exchange for a percentage of the transaction. This makes possible a whole new local economic sector, a source of income for the community that in turn allows the development and growth of the system, being the bridge between the crypto and fiduciary economy.
EOS Venezuela, Block Producer of the EOS Blockchain, as the main promoter of the Crypto Peso currency, is committed to foster this economy and its use, adopting the P$O as the official means of payment for all the organization’s actions with collaborators, scholarships, contests, sponsorships and bounty rewards. Providing the currency with a common utility, increasing its reach and value. This is how we complete the circle of the Crypto Peso, an argument for a region that needs solutions, a massive community ready to be added to the ecosystem, an unique platform to connect between users and the international market, without transaction costs, and means of payment of an organization of interest and impact on Crypto as it is an EOS Block Producer.
The Crypto Peso is the first step towards a modern Latin American economy.
Let the Blockchain build our future!
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